2022 was a crazy, tumultuous year in recruiting and talent acquisition. Whether it was the Great Resignation or its corollary, Quiet Quitting, the Growth in Freelancing and Flexible work, continuation of Candidate Fraud, and of course, the establishment and acceptance of Hybrid and Remote Working, we have certainly seen a dramatic change in the industry this past year. For an excellent summary of the top 20 trends in recruitment, Hung Lee's Open Kitchen post is highly recommended - a must read!
So what's going to happen in 2023?
Based on our experience above, we see no reason to expect less change in the new year. In fact, we anticipate the following trends in 2023:
Supply and Demand in the Labor Market
Multimode working (Hybrid, Remote, Freelance, Flexible)
Candidate Experience
AI's impact on interviewing and hiring
All creating significant pressure on recruitment
Supply and Demand in the Labor Market
The current economy has caused companies to seek the perfect hire resulting in:
More candidates to interview
Longer hiring processes
Candidate dissatisfaction
Candidates are seeking a better work experience beyond pay and benefits focused on flexibility and work-life balance.
Stability is a key driver for candidates to accept a role.
The Demand for Multimode Working
Not only have we become accustomed to working from home with minimal impact of productivity, but we expect to work from home, at least part of the time.
Workers are continuing to prioritize the flexibility and work-life balance provided by remote working.
Thus, remote hiring will continue globally, across all categories, Hybrid, FT/PT/Flexible and Freelance as much for quality as for cost-savings.
As noted by a recent report from Upwork, Freelancing is a well-established mode, representing 39% of the US Labor Force.
As global Interview as a Service experts, FloCareer is accustomed to performing interviews for remote hires which consider geography, timezones, and business needs yet balancing client concerns for fraud detection, validation and quality.
The Importance of Candidate Experience
Hiring effectiveness is strongly correlated to candidate experience. The quality of the interview has a significant impact on a candidate’s interest in working at a company as well as their future performance.
Crosschq Data Labs revealed that 87% of interviewers conduct less than 3 interviews per year, resulting in low Quality of Hire.
However, interviewers who did 12 or more interviews have a greater Quality of Hire and higher post-hire performance evaluations.
Speed is critical. The need to move fast is imperative, not just as a way to attract the best candidates, but also to streamline the process and reduce waste.
We will continue to invest in improving the interview process in 202 starting from the current 92% Positive feedback – ensuring that candidates have an enjoyable interview and investing our efforts to continuously improve our customers’ interview processes.
AI's Impact on Hiring and Interviewing
In 2023, AI will be used in Job Postings, Sourcing, Candidate Screening, Job Matching, and interview Fraud Detection.
Generative AI Tools like ChatGPT is changing the way we search, create and think. The JD on the left was created by ChatGPT in seconds.
At FloCareer, AI is applied to interview structure, scheduling, and interview fraud detection.
Pressure on Recruiting
The economy has had a significant impact on recruiting bearing the brunt of downsizing. Yet remaining recruiters have seen their workloads and expectations increase dramatically. The paradoxical "Do More with Less". Recruiters are seeking innovative approaches to meet the challenge.
FloCareer’s Interview as a Service Platform is an innovative way to conduct interviews at scale quickly, flexibly and on-demand.
Most of our clients are seeing more than a 50% return on their FloCareer investment. Check out our ROI calculator.
Conclusions
Fasten your seat belts! Based on our experience last year and what we have already seen over the last few weeks, particularly in the area of Generative AI and ChatGPT, there will be dynamic changes in the world of talent acquisition in 2023. Never a dull moment.
