Hiring for 2024

The past few years have seen monumental shifts in ways of working around the world, with cumulative effects that have changed the way companies search, engage, and recruit talent. Here is what 2024 holds in store for hiring and how upcoming challenges can be met and overcome.

There Is an Increasing Mismatch Between Hirers’ Demands and Candidate Wants

As some of the glow wears off remote and hybrid work schemes, some companies are increasingly eager to get their employees back into the office. However, a great many surveys have found that, since the waning of the pandemic, the vast majority of candidates want flexible work, yet in the first quarter of this year, only 30% of listings mention flexibility.

Understanding and Using New Technologies

Where it was once possible to recruit effectively using a CRM or even a Rolodex, recruitment technology has seen rapid and complex advancements over the past few years. “Data-driven” recruitment practices have yet to prove that they do not cause more problems than they solve. Poorly processed data could lead companies down the wrong path, resulting in inaccurate hiring strategies and wasted time. Properly harnessing technology means only using what you need and can manage. Hiring companies can’t possibly put huge volumes of data on every candidate’s website or put clicks and social media impressions to the best use. Top recruiters will continue to prioritize candidate and client needs at the heart of their activities, and work with IT and marketing departments to use tech strategically.

Younger Candidates are Focused on Values

The youngest demographic to enter the workforce is increasingly connecting their day jobs to their own identities, wanting organizational values and missions that match their own. Growing up as digital natives with the ability to access world issues and instant news from their pockets means Gen Z is also fluent in sustainability. Gen Z will be increasingly difficult to recruit in more traditional industries with less diversity. In 2023, recruiters will need to include more in-depth detail on an employer’s sustainability when pitching to candidates, with data and examples to avoid accusations of “greenwashing.” Sustainability will increasingly cover any impact that a company has on people, animals, the environment, and society, requiring recruiters to be even more well-versed in their client activities and brand impact.

Slower Hiring and Shrinking Talent Pools

The so-called  “Great Resignation” of 2022 may create the stagnation of the labor market in 2023. When combined with recent slow job creation levels, layoff announcements from leading companies, and fears of recession around the world, more firms may delay hiring plans at the same time as talent decides to stay put. The cost-of-living crisis is persuading many to remain in secure jobs, opting to leave job-seeking until 2024 when they hope the world’s finances are clearer cut. Diverse talent presents the answer. Hundreds of millions of available diverse candidates are frequently overlooked and undervalued: during times of unprecedented skills shortages, diversifying your approach (literally!) will uncover untapped talent pools. Female, ethnic minority, LGBTQ+, disabled, and neurodiverse professionals have the same wealth of skills and knowledge as their peers, but with experiences and ideas that employers will not have fully leveraged, and the ability to drive creativity and innovation like never before.

What all this points to is a whole new set of concerns regarding recruiting, hiring, and retention across the entire spectrum of US industries. Given the complexity of the change, companies will need to recruit, interview, and screen in a whole new way. A relationship with a recruiting firm that understands and stands for the demands of this new world is likely to produce the best results. An effective recruiting partner will partner with the company to identify the right combination of skill and experience to find the top candidates and to convey to them what the hiring company stands for.

ABOUT BRAINWORKS

BrainWorks is a recruiting organization that partners with clients to match them with recruiters who are experts in meeting their needs.

Areas of specialization include: Accounting & Finance recruiting, Accounting & Finance – Interim recruiting, Alternative Investments recruitingAnalytics, Data Science & Data Governance recruiting, Commodities Technology & Training recruiting, Consumer Products recruiters, CRM & Direct Marketing recruiting, Cybersecurity recruiting, Data & Data Insights recruiting, eCommerce & Digital Marketing recruiting, Financial Technology, Go-To-Market Search – Private Equity/Insurance and Financial Services recruiting, Human Resources recruiters, Legal recruiting, Market Research & Consumer Insights recruiting, Medical Device recruiting, Private Equity Recruiting – Portfolio Companies, Private Equity, Private Credit & Corporate Development recruiting, Sales and Marketing recruiting, Supply Chain & Operations recruiting, Tax Recruiting, Technology recruiting.

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