Create an Internal Talent Marketplace

An internal talent marketplace (platform or interface) allows employees to showcase their skills and interests, apply for open positions, and connect with hiring managers. It creates transparency and enables employees to take control of their career development.

It also gives managers and company leaders insight into the skills that their existing workforce has now or wants to learn in order to forecast and close future skills gaps by moving skilled employees into new roles.

Jessica Miller-Merrell
Founder and Chief Innovation Officer, Workology

Try Monthly Career Planning

Employees can often be terrified of raising career questions with their immediate boss—scared it could lead to reduced trust or worse…termination. To boost internal mobility, organizations have to actively encourage managers to set regular checkpoints with team members where long-term career planning is the focus (a monthly cadence is my personal recommendation).

Having done this twice recently, the common refrain I hear is, “Why would you allow your employees to move to alternate teams?” My response is simple: I’d always prefer talent to remain within our company, and if we can develop an appropriate transition plan, then there is no downtime, compared to if the employee becomes frustrated and ultimately leaves, causing a far greater burden than if we found a new home for them within the same company.

Patrick Ward
Founder, NanoGlobals

Share Stories of Growth

Spread the word when employees are promoted! When staff members are celebrated publicly, it can inspire everyone.

Your employees will feel empowered to create their own paths to success within the company. Consider an internal page on your website where employees can share success stories and you can feature open roles. When your team celebrates each other often, a culture of growth develops!

Liza Kirsh
Chief Marketing Officer, Dymapak

Post Internally First

To encourage employees to apply for internal positions, begin by posting the position internally only. Post positions in-house for at least 14 days before sharing externally.

This will encourage and give employees the opportunity to apply before having to compete with a wider applicant pool. Many internal candidates won’t apply, as they fear they won’t be able to compete, especially for higher positions. However, these employees have company history and knowledge that can’t be replicated. Show your employees that promoting from within is a priority for your company.

Asker Ahmed
Director and Founder, iProcess

Facilitate Employee Development

In my expert opinion, one of the most effective ways to improve internal mobility is by investing in employee development.

Well, employers should provide opportunities for their employees to learn new skills, take on additional responsibilities, and advance their careers. This can be done through job shadowing, mentoring, training programs, and offering tuition reimbursement for further education.

Rene Delgado
Founder and CEO, Shop Indoor Golf

Increase Transparency and Communication

In my expert opinion, to improve internal mobility, employers should increase transparency and communication with their employees. This includes providing clear job descriptions, career paths, and performance expectations.

Employers should also provide regular feedback and have open discussions with employees about their career goals and aspirations. This will help employees understand what opportunities are available to them and how they can advance within the company.

Matthew Appleton
E-commerce Manager, Appleton Sweets

Implement a Formal Internal Mobility Program

Experts prefer this, employers should implement a formal internal mobility program that outlines the process for internal job postings, transfers, and promotions. The best thing about this program is that it should be easily accessible to all employees and should be regularly updated to reflect the changing needs of the company.

The program should also be supported by senior leadership and be communicated clearly to all employees to ensure that everyone is aware of the opportunities available to them.

Alice Hall
Co-Founder and Creative Director, Rowen Homes

Cross-train Employees

Generally, each employee holds a single job description or list of tasks and responsibilities at one time. Employees, and their leaders, may consider this to be a level of internal comfort, whereby most people know their place and expectations.

This level of operation comes at a cost to individual employees who seek to learn more about your business operations and even contribute more to its success. Employees who aspire to higher levels of responsibility and authority need to know that this potential is realistic.

Evidence may come when certain opportunities for cross-training are advertised. Employees, for example, who are generally in a customer-facing position may be offered exposure to the internal operations, such as customers’ order processing.

For those seeking to reach higher and organizations valuing the skills and experience of tenured staff, internal mobility can be improved when staff is building upon skills, rather than only perfecting their original job description.

Ashley Kenny
Founder, Heirloom

Develop a Comprehensive Career Development Program

The best way to improve internal mobility for employees is to provide a clear path forward for career advancement. If you’re in a position where you’d like to move up in your organization but don’t know how or if it’s even possible, it can frustrate and demoralize you. We want our employees to feel empowered and confident in their ability to advance within the company, so we ensure they have access to guidance and resources that will help them get there.

One way to do this is to develop a comprehensive career development program. This program should give employees the tools and help they need to improve and advance in the company. This could mean having access to opportunities for training and growth, mentoring and coaching programs, and career counseling services. Also, organizations can create a culture of continuous learning and development by giving employees at all levels of the organization opportunities to learn and grow.

Kimberley Tyler-Smith
VP, Strategy and Growth, Resume Worded

Ensure that You Have the Proper Technologies

Big businesses, in my perspective, hold a complicated web of opportunities. It is understandable that hiring managers will find it difficult to balance hiring requirements with existing internal expertise. Increasing the visibility of opportunities and simplifying the identification and development of internal talent, talent management software helps make sense of it all.

Seek software with professional progression and internal mobility features. This will assist you in systematizing your efforts and making internal mobility accessible and realizable for the entire organization.

Joe Troyer
CEO and Growth Advisor, Digital Triggers

The post Improving Internal Mobility for Employees appeared first on RecruitingDaily.

Lack of Tech Savvy

One of the biggest issues that Generation Z recruiters face is a lack of connection with prospective candidates. Gen Zers are more tech-savvy, so they prefer digital communication over face-to-face interaction. That can make it difficult to create an authentic connection and build rapport with potential recruits.

If a recruiter doesn’t take the time to build a relationship with the candidate, they may be perceived as a “ghost recruiter”—someone who quickly contacts a candidate and then disappears.

To avoid this problem, recruiters should try to stay connected with prospective candidates over longer periods of time through multiple channels, such as email, social media, and text messaging.

Aviad Faruz
CEO, FARUZO

A Counter-offer From Their Current Employer

I’ve recently learned how many professionals, especially Gen Zers, look for job offers while already employed to negotiate their salary in their present workplace. Since they aren’t serious from the beginning and only need an offer in hand to prove their worth where they’re already working, they end up ghosting the recruiter involved.

With the looming recession forcing businesses to save costs, getting a raise isn’t as straightforward as it once was. Proving you have an offer ready if you’re denied a raise can sometimes help you get that much-needed salary jump without switching jobs.

While a few applicants are moral enough to excuse themselves, most don’t bother notifying the recruiter that they’ve accepted their company’s counteroffer and are, therefore, turning down the new opportunity.

Anjela Mangrum
President, Mangrum Career Solutions

Misrepresentation of the Position

If a candidate feels like they have been lied to or misled about the requirements, responsibilities or work environment of the role, that will cause a major loss of trust in the company. Lying about or misrepresenting a role is a good way to lose candidates from any generation.

The younger the candidate, the less patience they tend to have for this kind of behavior, and Gen Z in particular is likely to drop out of the application process without feeling the need to explain why. This is especially common with “remote-washed” positions, which seem to be fully remote from the job posting but in reality use a hybrid model, or are even mostly in-person.

That said, any change to the role’s responsibilities, compensation, benefits or work environment from what was originally described to the candidate is at risk of prompting them to ghost, especially if they feel the deception was intentional.

Archie Payne
CEO, CalTek Staffing

Taking Too Long to Respond 

As a recruiter in the tech niche, I am increasingly hiring Gen Z candidates. A key concern that comes up is how long it takes to hear from the recruiter/hiring manager/employer.

Gen Z grew up in an era of instant feedback, a phenomenon mostly driven by social media and they are not used to long waiting periods. Some have said that they deem it rude when they do not hear after as little as five days and will not hesitate to cut all communication and move on if this happens.

You might come back to them a few weeks later with a job offer, only to find that they will not respond to your messages or calls. Even if they haven’t accepted another job offer, they’ve definitely grown disinterested in yours.

Adding a disclaimer in the job posting on how long candidates might have to wait to hear from you can keep them engaged. And engaging them throughout the waiting period, for example, by sharing helpful content and updates, will keep top talent in your pipeline.

Joe Coletta
Founder and CEO, 180 Engineering

Unclear Job Descriptions

A lot of us have endured agonizing silence while waiting to hear from a potential employer, only to hear nothing at all. In actuality, though, it’s not only the recruiters who are ghosting the candidates—now it’s the candidates themselves. Some job seekers are quitting contact and responding to companies giving no notice. What is the cause, though?

The reason candidates are ghosting is that most of them reconsidered during the interview process or had done more research on your business after the fact. Although Gen Z isn’t afraid to turn down an offer if the job or benefits aren’t what they expect them to be, they usually know how to be polite. Gen Z already has the power to demand things like high pay or flexible work.

However, the candidates will ghost recruiters back if recruiters are unclear about the entire recruiting process and they feel ghosted. Always be upfront about the details of the offer and the expected hiring schedule.

Andre Oentoro
Founder and CEO, Breadnbeyond

Bias in the Recruitment Process

Gen Z candidates are among the most awakened and knowledgeable about workplace diversity, equality and inclusion. For recruiters interviewing candidates for a company with a flawed recruitment process, this becomes a sign of further problems down the line and in the organization in question.

Owing to their inclination to work for inclusive companies, Gen Z candidates will “ghost” recruiters from companies that they sense have bias, which may be clear in the language they use to advertise open roles in the company or in the requirements they mention.

Liam Liu
Co-Founder and CMO, Parcel Panel

Poor Communication

Gen Z is used to immediacy and fast-moving environments. Poor communication about the hiring timeline can lead Gen Z candidates to believe they’re no longer in the process if they haven’t heard from recruiters in just a couple of days.

When hiring managers and recruiters fail to keep candidates in the loop and cannot establish clear expectations for them regarding the steps and duration of the hiring process, candidates may choose to forget about the application and move on to other job opportunities.

Andrei Kurtuy
Co-Founder and CCO, Novoresume

Using a One-Size-Fits-All Approach

I was guilty of approaching hiring in a one-size-fits-all manner when I first started out as a CEO. But as I grew in experience, I came to see that this wasn’t the ideal strategy, particularly for Gen Z. People want to know that their unique skills and interests are considered and that they are more than just a resume. Gen Z prospects can see that you regard them as people and are interested in what they offer by personalizing the hiring process.

One strategy I’ve found to be effective is to provide each Gen Z prospect with a tailored message in an email or phone call. I spend a few minutes looking over their website or LinkedIn page, and I say anything I found intriguing about their educational background or professional experience. This shows my interest in them as a candidate and that I have taken an effort to get to know them.

Percy Grunwald
Co-Founder, Compare Banks

The post What Makes Gen Z Ghost Recruiters? appeared first on RecruitingDaily.

In this article, we will explore the key recruitment trends and tips for 2023. We will cover everything from the impact of the gig economy to the skills of the future and how to attract and retain top talent. Whether you’re a seasoned HR professional or just starting out in the industry, you’ll find valuable insights and actionable advice to help you succeed in the year ahead.

Let’s start with the first most expected:

Remote Workforce, A New Norm?

The COVID-19 pandemic has forced businesses to quickly adapt to remote work, and this shift has shown us that remote work can be a viable option for many organizations. As a result, remote work has become a hot topic in the world of recruitment and employment. At this point, it should be obvious. ‘It’s a permanent fixture’, already mentioned by countless industry experts and studies. 

Advantages of Remote Work:

• Increased flexibility and work-life balance for employees
• Reduced costs for businesses (e.g. office space, commuting expenses)
• Access to a larger pool of talent

Disadvantages of Remote Work:

• Difficulty in fostering a sense of team and company culture
• Potential for isolation and decreased productivity
• Challenges in managing remote employees

Best Practices for Managing a Remote Workforce:

• Clear communication and expectations
• Regular virtual check-ins and team-building activities
• Providing the necessary tools and technology for remote work
• Establishing trust and accountability

The Gig Economy is Seeing New Heights 

The gig economy has been growing rapidly in recent years, and it is expected to continue to do so in 2023 and beyond. The gig economy refers to a labor market characterized by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs. It’s going to be worth $445 billion dollars, with an average growth of 17% a year.

This trend has been driven by technological advancements, changes in the labor market, and the increasing desire for flexibility among workers. On the one hand, gig workers can provide companies with access to a flexible and cost-effective workforce. On the other hand, attracting and retaining gig workers can be challenging, as they tend to be more independent and have different expectations compared to traditional employees.

Lisa Johnson, Ecommerce Expert at Geeks Health says “To succeed in the gig economy, companies must adopt a strategic approach to recruitment and retention. This includes understanding the motivations and needs of gig workers, creating attractive and competitive compensation packages, and offering flexible work arrangements.

Additionally, companies must invest in technology and tools that support the management of a dispersed and diverse workforce. For example, a small business that needs a new website design can quickly find a freelancer with the necessary skills and experience on a platform like Fiverr. The freelancer can complete the project on a flexible schedule, and the small business only pays for the work that has been completed. 

This is a win-win situation for both parties, as the small business gets the work done quickly and efficiently, while the freelancer gets paid for their skills and expertise.

Skills of the Future and Their Impact on Hiring

The rapidly changing technological landscape has resulted in a shift in the skills that will be in demand in the near future. Understand the skills that are poised to become the most valuable. The development of new technologies such as artificial intelligence, the Internet of Things, and blockchain has resulted in the creation of new roles and an increased demand for certain skills. 

For example, data analysis and interpretation, machine learning, and cybersecurity are becoming increasingly important. Stay on top of these shifts in demand so that you can attract and retain top talent in your organization. You might even see job boards like ‘Hiring ChatGPT Prompt Engineers’, or ‘Hiring Dall-E Prompt Experts’. Simply, because that’s what’s likely going to be a trend, and a mode of work in the future. 

Jonathan Faccone, Managing Member & Founder of Halo Homebuyers adds “One of the best ways to stay ahead of the curve is to invest in reskilling and upskilling programs for your employees. This will help them to develop the skills they need to stay relevant in a rapidly changing workforce.” 

Additionally, encouraging your employees to attend workshops, conferences, and other learning opportunities will help them to stay up-to-date on the latest developments in their field. Professionals of all spheres, especially writers, programmers, and designers, are hiding away from AI, fearing the replacement of their jobs. Your job as an HR, recruiting manager, or organization, is to help them embrace these technologies, and motivate them to evolve their skills accordingly.

The Rise of the Entrepreneurial Spirit

In recent years, there has been a significant shift in the way people view work and career development. The traditional 9-to-5 job model is becoming less appealing to many, and instead, a growing number of individuals are opting for a more flexible and independent career path — one that is often fueled by their entrepreneurial spirit.

Lachlan de Crespigny, Co-Founder and Co-CEO of Revelo says “This rise in entrepreneurship has far-reaching implications for the recruitment industry. With more people starting their own businesses and seeking out freelance work, the pool of talent available to companies is changing.” 

Moreover, this new generation of entrepreneurs is characterized by a strong desire for work-life balance and a willingness to take calculated risks to achieve their goals. For companies looking to attract and retain top talent, understanding this trend and the motivations behind it is crucial. By creating a workplace culture that supports entrepreneurial endeavors, companies can tap into this growing pool of talent and benefit from the unique skills and perspectives that entrepreneurs bring to the table.

GenZ is Finally Taking Over Workplaces

The next generation is here and ready to take over the workforce. Meet Generation Z, the cohort born between 1997 and 2012, who are poised to bring fresh perspectives and new ideas to the table. They’re expected to make 27% of the workforce by 2025.

This generation is highly tech-savvy, socially conscious, and determined to make a difference in the world. As the oldest members of GenZ enter the workforce, understand their characteristics and preferences to attract and retain this talent.

GenZ values work-life balance, flexible work arrangements, and a sense of purpose in their careers. 70% of them actually say they’ll go find another job if you ask them to be full-time in-office. They are also concerned about the impact their work has on the environment and society. Companies that align with these values and offer opportunities for growth and impact will have a competitive advantage in attracting and retaining GenZ talent.

Federico Schiano di Pepe, Founder of Teachfloor says “To prepare for the next generation, companies need to think beyond just salary and benefits. Offering flexible work arrangements, professional development opportunities, and creating a positive company culture are key to attracting and retaining GenZ talent.” Additionally, companies can invest in reskilling and upskilling initiatives to provide GenZ employees with the skills and knowledge needed for the future.

AI and Automation To the Scene

In recent years, technology has revolutionized the way we live and work, and the recruitment industry is no exception. With the advent of artificial intelligence (AI) and automation, the hiring process has become more efficient, objective, and data-driven. As a result, organizations are embracing these technologies to streamline their recruitment processes, attract top talent, and improve their overall hiring outcomes. However, with any new technology, there are advantages and disadvantages to consider. Let’s talk about benefits first. 

One of the biggest advantages of AI and automation in recruitment is their ability to eliminate human biases and provide an objective evaluation of candidates. AI algorithms can assess resumes, cover letters, and other candidate data without being influenced by personal preferences or unconscious biases. That can help to create a fairer hiring process and increase diversity in the workplace.

Moreover, AI and automation can automate repetitive tasks such as screening resumes, scheduling interviews, and sending follow-up emails. This can save recruiters a significant amount of time and allow them to focus on more strategic tasks, such as building relationships with candidates and improving the overall candidate experience.

Another advantage of AI in recruitment is its ability to provide data-driven insights. By analyzing vast amounts of candidate data, AI algorithms can help organizations to identify patterns and trends that were previously not possible to see. That can provide valuable information on what works and what doesn’t in the recruitment process, allowing organizations to make data-driven decisions to improve their hiring outcomes.

However, AI and automation are not a cure-all solution for recruitment. For example, they can lead to a reduction in human interaction, which can negatively impact the candidate experience. There is a risk of replacing human decision-making with algorithms that are not always perfect.

To get the most out of AI and automation in the hiring process, approach them as a complement to, not a replacement for, human judgment. By combining the strengths of human recruiters and AI algorithms, create a recruitment process that is efficient, fair, and people-centered.

More Empathy in the Workplace

There has been a growing emphasis on creating empathetic work environments. Empathy in the workplace is the ability to understand and share the feelings of others. It involves creating a supportive, caring, and inclusive workplace culture that values and appreciates the well-being and happiness of employees.

Empathetic work environments have been proven to lead to higher employee engagement, productivity, and job satisfaction. In contrast, a lack of empathy in the workplace can lead to burnout, decreased morale, and high turnover rates. Creating an empathetic workplace culture is a process that starts with leadership. Leaders must lead by example and create a culture of trust and support. This can be achieved through open communication, actively listening to employee feedback, and fostering a sense of belonging.

Another key aspect of building empathetic work environments is offering support and resources to employees. This can include offering mental health resources, flexible work arrangements, and opportunities for professional development and growth.

Brad Anderson, Founder of FRUITION says “Employee recognition and appreciation are also important components of creating empathetic work environments. Regularly acknowledging and celebrating the contributions of employees goes a long way in boosting morale and creating a positive workplace culture.”

Building a Truly People-Centric Culture 

As the competition for talent increases, creating a truly people-centric work environment has become more important than ever. A people-centric workplace prioritizes the well-being and satisfaction of employees and creates a culture that supports their growth and development. That type of work environment not only attracts top talent but also boosts employee engagement and retention, leading to higher productivity and success for the organization.

The consequences of ignoring a people-centered work environment can be significant. High turnover, low employee morale, and poor customer satisfaction are just a few of the negative outcomes that can result. Employees who feel valued and supported are more likely to be engaged and motivated, resulting in increased productivity and profitability for the organization.

To create a truly people-centric work environment, organizations must prioritize the following:

• Empathy: Showing understanding and compassion for employees’ needs and challenges.
• Work-life balance: Allowing employees to have a healthy balance between work and personal life.
• Employee development: Providing opportunities for employees to grow and develop professionally.
• Recognition and rewards: Recognizing and rewarding employees for their hard work and contributions.

Embracing Diversity, Equity, and Inclusion (DEI)

Do we even need to mention it? 

As you strive to build a supportive and empathetic work environment, consider the role of diversity, equity, and inclusion (DEI) in the recruitment process. In today’s world, it’s essential to create a workplace that values and respects the unique perspectives and experiences of all employees. People care about it now more than ever. That’s why companies release their DEI reports each year. 

DEI initiatives can help companies build a more diverse and inclusive workplace, which can lead to improved employee satisfaction and engagement, increased productivity, and a better bottom line. To get started, assess your current DEI practices and identify areas for improvement. This may include training and education for employees, implementing policies and procedures that promote equity and inclusivity, and actively seeking out and hiring a diverse workforce.

Incorporating DEI into your recruitment strategy will not only help you attract and retain a more diverse and inclusive workforce, but it will also create a workplace that employees are proud to be a part of.

The Final Say: What’s the Key to Building a Team that’s a Happy Bunch in 2023?

Building a happy and productive team is the goal of every company, and yet, it can often feel like an elusive target. But what if we told you that the key to unlocking this mystery lies in a simple phrase: care for your people?

When employees feel like they are part of a supportive and empathetic work environment, they are more likely to be happy and engaged in their work. They will trust that their company has their back, even in uncertain times, and they will feel more secure and committed to their job. So, how do you build a company that employees can lean on? 

Start by creating a culture of empathy, where employees feel heard and valued. Encourage open and transparent communication, and make sure employees know that you’re there for them, no matter what. They shouldn’t be worried about AI replacing them, or taking their jobs. They shouldn’t be worried about you downsizing, and leaving them out of the blue in the storm of massive layoffs.

Provide them with the resources and support they need to do their best work, and recognize and reward their achievements. Lead by example. Make your employees a priority, and show them that you care about their well-being, both inside and outside of work. When your employees feel happy and fulfilled, they’ll be more productive, more engaged, and more likely to stick around.

The post It’s Never Too Late: Recruitment Trends and Tips for 2023 appeared first on RecruitingDaily.

Tensions Between In-Office and Remote Will Continue

Companies are making bold bets on the future. Despite most studies demonstrating a plurality of employees prefer flexible work, some companies are demanding employees return to the office full-time or at least a set schedule of days per week. Expect this to be a battleground in 2023, where some employees will leave their company for one with policies closer to their interests.

Studies have shown that employees, especially those who have been working remotely, overwhelmingly prefer hybrid or remote over needing to go to the office full-time. A Gallup poll found only 6% of “remote-capable” employees wanted to return to the office full-time. Could a CEO leave one company for another because of their policies? Will a fully in-person company staff quietly quit or otherwise protest the decision? Ultimately, companies that demand a return to office will find at least some employees resist.

Everyone Will Do More With Less

The inflationary concerns in 2022 led to a slowing job market which led some companies to reduce HR headcount and produced a knock-on effect on external recruiters. Even if they’ve decreased the overall headcount, companies looking to fill roles will have fewer resources to do so.

That means companies will need a stronger strategy for finding and vetting candidates and making offers, especially considering those candidates will make decisions quicker.

Automation is Ready For Prime Time

And not a moment too soon. When companies increase hiring, which will happen in 2023, they will need serious tech support to win the recruitment war. This is a matter of automation out of necessity instead of trying to be cool with the latest tech.

The wage will continue to go up, and the recruiting team will not get an additional headcount budget. Recruiting processes will be further automated, so small TA teams are supercharged to do more. 

Pay Transparency For Job Ads Will Become The Norm

This is becoming a legal requirement in some states. For instance, California will introduce Senate Bill 1162 on January 1, 2023, which forces employers to include pay ranges in all job advertisements. NYC likewise will require nearly every company to include salary ranges for job postings, even for jobs announced internally.

As the hiring landscape continues to skew “glocal,” companies in other states will follow suit as potential employees decline to apply for jobs that don’t include salary ranges. Companies will ultimately appreciate this, as it will eliminate costly and unproductive conversations with candidates who will only take the job for more money.

DEIB Goes From a Priority to a Must-Have

We believe this should already be the case, but many companies are still lagging behind the times. There will be no excuse in 2023. Candidates will increasingly prioritize companies with a concrete approach to DEIB, so it will be critical to put in the work to diagnose your company’s current diversity makeup and communicate a plan to improve it.

If your company leans in and discusses what you’re doing to improve DEIB, there will be ample opportunities to become a leader in the space.

Layoffs Will Soften

Additional variants and inflation have delayed the expected economic recovery from COVID-19. But 2023 may be the big opportunity everyone has waited for. Whether or not we enter a recession, companies will begin to curtail layoffs and look to hire. Talent acquisition leaders must take this time to get their 2023 hiring priorities and strategies in place, especially if their company currently has a hiring freeze.

Reschedule Rates Will Become Increasingly Measured

As more companies move to software and procedures that enable self-scheduling, companies must keep a close eye on how often top candidates reschedule. Data-driven companies will look at rescheduling rates as a KPI of relationship building.

Clearly, the next 12 months will be hugely important for companies to set themselves up for success in the next five years. If your company is looking to grow, being the first to hire in 2023 will be a huge step in the right direction. But the groundwork for that time can begin now.

By prioritizing DEI, investing in automation, and beginning to rethink how you measure your hiring process, you will be ahead of the curve when the rest of the world moves from layoffs or hiring freezes to a ramp-up to building back their teams. 

The post 7 Bold Bets For 2023 Talent Acquisition appeared first on RecruitingDaily.

According to The Wall Street Journal, there’s growing recognition that students need to immerse themselves in a variety of new subjects if they’re going to be ready for the changing job market’s skills and dynamics.

For example, the Journal said, big tech companies are spending a lot of money to develop products and services for the metaverse. That, in turn, could open up new job opportunities for graduating students, and those new jobs will have new requirements.

That means some areas will evolve to keep up with the times. Studies of artificial intelligence, for example, will add courses on its ethical application, the Journal said. Engineers will need to decide how much risk can be built into machines, an especially fraught notion for applications involved with medical care.

Texas A&M and more than a dozen other schools are using grant money from Google to develop classes examining just such scenarios, the Journal said.

The Digital Approach

In the metaverse – or, we should say for the metaverse – colleges are instructing students to take fresh looks at areas such as pricing and cost of production. For instance, a digital New York City penthouse with views of Central Park isn’t nearly as exclusive as the real thing. You can only build one apartment, after all, but the digital property can be copied, and sold, any number of times. That means the penthouse in the metaverse is less exclusive than the one in Manhattan.

Networking is another area getting attention. Because of the pandemic, students operating from home missed out on learning the social skills that are important to finding and winning a job, and then progressing along a career path. Courses will spend more time on networking and professional ethics, the Journal said. At some schools, courses on basics like creating a resume or a LinkedIn profile will be included in the syllabus.

For students especially, it may be a relatively short leap from networking to the idea of becoming an influencer. That’s not necessarily a bad thing. In 2023, marketers will spend more than $4 billion on influencer campaigns, the Journal said, up from more than $3 billion last year. Colleges are responding by offering courses on media influence and personal branding.

All of this is good news for employers – and recruiters – who bemoan the way many universities don’t keep up with their needs. At the least, these efforts show, the schools are trying.

The post Colleges Evolve Courses to Meet New Employer Demands appeared first on RecruitingDaily.

To prepare, startups need to begin cutting costs, said Bilal Zuberi, a partner at the venture capital firm Lux Capital. That, in turn, will lead to job cuts. “The world is falling apart,” he said, “and we need to act accordingly.”

The decade-long bull market stimulated by the tech industry’s rise eventually saw indications that the good times were ending. A 2020 note from Sequoia Capital headlined “Coronavirus: The Black Swan of 2020” cautions startups to doubt aspects of their business, including the number of employees on staff and whether capital will be available to them in the long term. “Nobody ever regrets making fast and decisive adjustments to changing circumstances,” it said.

After an initial panic in the spring of 2020, many tech companies prospered in the pandemic era, when low interest rates, soaring markets and changing consumer behavior balanced issues caused by COVID-19.

Still, “[I]nvestor sentiment in Silicon Valley is the most negative since the dot-com crash” tweeted David Sacks, co-founder of PayPal and now a partner at the investment firm Craft Ventures. The dot-com crash was over 20 years ago.

While market changes even out for investors and founders, thousands of tech workers have lost their jobs. Venture-backed startups including delivery-only restaurant company Reef Technology, grocery delivery business Avo and AI company DataRobot cut more than 7,500 positions across the board from April 1 to May 16, according to figures from employment tracker Layoffs.fyi.

Meanwhile, public companies have also cut jobs, instituted hiring freezes or both.

The post Tech Industry Job Market Drops After Decade-Long Immunity appeared first on RecruitingDaily.

Their wanderlust is fueled by a desire for higher pay, better career opportunities and flexibility amid rising inflation, a shrinking labor market and an increase in jobs that offer more choice about how workers get things done.

Sixty percent of employees in technology and hardware jobs are the most eager to leave their current positions in search of higher pay. Some 42% believe that pay increases are the key to addressing staff turnover – although only 18% of employers agree.

Flexible working arrangements – among the largest factors leading to employee moves last year – are now less of a driver. The reason: Most workers are already employed by companies that offer some kind of flexibility. Only 19% are seeking remote-work flexibility in a new job, while 17% say well-being programs would prompt them to move.

The Great Return?

Despite the continuing shift toward flexible working models, 22% of employers say they want employees to come back to the office five days a week. Employees, however, want to work remotely at least two days a week.

In addition, a shift was evident over employees’ view of culture and productivity. Workers reported a desire to seek out new roles “even though they hold relatively upbeat views about company culture,” the report said.

“The number of employees who believe their organization’s culture has improved has risen from 48% to 61% since the start of the COVID-19 pandemic,” the report said. “At the same time, employers’ confidence in their own company culture has dropped from 77% to 57%.”

And while employees believe that new ways of working have increased productivity, companies’ confidence in productivity is being eroded by increased turnover.

“Organizations have to work to retain their employees, instill trust and provide a package that takes into account total pay, career path and flexibility to balance market concerns and risks,” said  Roselyn Feinsod, principal at Ernst & Young’s People Advisory Services.

The pandemic accelerated a work realignment that was already in progress, and transformed people’s views on success, purpose and value, EY said. “Rising inflation, the Great Resignation, expectations around environmental, social and governance (ESG) issues are reshaping a workforce terrain that we’re all trying to navigate with new eyes.” The workforce, “is resettling into pools based on how we work, what we value and who we are,” the firm said.

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According to the technology trade association CompTIA, 73% of HR professionals believe hiring will become more challenging over the next 12 months. Two-thirds believe that persistent roadblocks may become the new normal in hiring.

CompTIA published the figures in its annual “Workforce and Learning Trends” report.

“Hiring and talent development practices that worked a decade ago are no longer adequate in an era of digital transformation and rapid innovation,” said CompTIA President and CEO Todd Thibodeaux. Companies need to carefully examine how they’re preparing, recruiting and retaining employees, he said. That includes making sure educational models keep pace with new skills requirements, modernizing outdated evaluation and hiring criteria, recruiting from the full talent pool and putting people in a position to make the best use of their skills and talents.

What’s Shaping Workforce Needs

CompTIA identified five areas shaping the workforce and learning landscape:

• Employers and workers are negotiating a resetting of expectations on both sides
• Talent pipeline deficiencies highlight the need for human infrastructure investment
• More employers drop four-year degree requirement in favor of skills-based hiring
• The need to crack the code of soft skills with new approaches
• HR is working to balance data-driven and people-driven approaches to talent management

Given these trends, HR executives expect to give close attention to reskilling and upskilling their current employees. More than six in 10 believe increasing the skills of existing workers will offset the need for outside hiring and aid the organization’s retention strategy.

And, indeed, the adoption of skills-based hiring practices continues to trend upward. Support for eliminating or relaxing four-year degree requirements increased from 76% in 2021 to 85% this year, for example. CompTIA said this could contribute to less “overspecing,” or specifying more skills and credentials than are necessary to fill a particular job. When that happens, employers produce job descriptions that few, if any, candidates are qualified for.

For IT hiring, 76% of respondents say professional certifications are a factor in their decision-making. Some 47% expect the importance of certifications as a candidate evaluation tool to increase. And, 45% of organizations report using a skills framework to provide structure to the recruitment and development of their tech workforces. Another 36% are exploring the idea.

Finally, two-thirds of HR professionals expect to place greater emphasis on soft skills in the future. Among the reasons: developing well-rounded employees with more growth potential, creating an environment of innovation and collaborative problem-solving, and building a strong, healthy corporate culture

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Labor participation hasn’t fully rebounded since its precipitous drop that was triggered by the pandemic. The U.S. Bureau of Labor Statistics (BLS) reports the nation lost 8 million workers back in March/April 2020 and, to date, we have recovered approximately 70 percent of these jobs.

The number of jobs available nationally is still hovering around 11 million, and the most recently published unemployment figure for February 2022 was 3.8 percent. We are once again flirting with 50-year unemployment lows.

Wage growth continues to run hot, with increases expected to continue into 2022, and at the highest levels since 2008’s Great Recession. Much of this growth is concentrated in the professional space, non-union or labor. Also at decades-high is the Consumer Price Index which, according to BLS  climbed 7.9 percent for the 12 months ended February 2022, the largest 12-month increase since 1982 and higher than expectations.

High consumer demand following the first year of the pandemic collided with supply chain issues, driving incredibly high rates of inflation – 2021 saw inflation increase to 4.7%. In response, the Federal Reserve Bank raised interest rates in March 2022 and is clearly telegraphing multiple interest rate hikes for 2022.

The Great Resignation or the Great Upgrade?

The Great Resignation began almost a year ago, in April 2021, when 3.8 million workers quit their jobs following the tumultuous first year of the pandemic, as many sought a better work-life balance. Fast forward to today, where the “job quits” rate continues to be considerably high, with much of that concentrated in lower-wage earners who are transitioning back into the workforce with positions that offer higher compensation.

Much of the increase in wage growth has come from manual occupations, including those that don’t require a bachelor’s degree, in jobs that include transportation, repair, maintenance, security and health support, among others, according to The Conference Board. Some have referred to this as “The Great Upgrade.”  

As we flirt with 50-year employment lows, there is a considerable imbalance in the number of resignations vs. terminations, and negotiating leverage is back in the hands of employees. 

With very few employers terminating staff, most employers are doing everything in their power, both inside and outside of the box, to retain their talent: their most important asset. 

Not Just Dollars, Equity and Increased Perks Packaged Into Offers

The U.S. Labor Department has reported that corporate spending on wages and benefits in 2021 increased at the fastest rate in two decades amid record resignations. In an effort to retain and attract employees while maintaining the growth of their businesses, companies are delicately balancing salary numbers with other benefits. For example, due to high inflation,  some firms are offering perks such as additional PTO or permanent work-from-home options, according to the Wall Street Journal, as they strive to limit salaries.

Start-up companies, for instance, have been offering equity at an increasing rate to boost their compensation packages and reduce attrition. Many of the Fortune 1,000 are strengthening their total compensation and benefits packages as well, because they have not been immune to the attrition either. In total, wages and salaries increased 4.5% in 2021, which was the biggest increase in more than 20 years, according to BLS data. 

Navigating Efficient and Creative Ways to Court Talent

Defining and articulating your company’s purpose and mission is a start. Rebalancing your internal infrastructure and resource allocation towards the employee is a trend we’ve been seeing for well over a year.

Human Resource departments are not only expanding well beyond benefits and employee relations, but they are also often re-branding their departments into more humanistic titles, sending the message that people are an integral part of their operations, with terms like “People Operations” taking hold.

Preventing burnout has been a reoccurring theme in many organizations and it is no longer de rigueur to expect people to sacrifice their personal lives and well-being for a job, especially and despite the fact that they are able to work from their homes. 

With the imbalance between job openings and available workers expected to continue well into 2022, it will be interesting to see how the Fed’s actions to fight inflation will impact the imbalance over time. Until then, organizations are being forced to pivot both in their offerings and in the way they get work done.

Whether that is taking advantage of the remote work movement to expand their overall talent pool at lower labor costs, utilizing independent contractors and gig workers for even more functions than had previously been common, or continuing to evolve in their overall employee offerings to attract and retain talent, companies will need to adapt to daily challenges.  

Those in recruitment are well aware of the changing landscape and the increased amount of time it is taking to find the best-aligned talent for their current needs, while also anticipating their future needs.  Increasingly recruiters are turning to partners that can help them recruit and retain talent with options such as direct sourcing solutions, HR technology and the means to build diverse talent pipelines.

Working with specialists such as these that have proven and efficient solutions can certainly help recruiters navigate and plan for an uncertain, yet potentially very exciting, future. The overall important thing to remember is those employers who listen to the needs of their employees will be the ones who earn the top talent. 

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That’s according to Buck’s 2022 Wellbeing and Voluntary Benefits Survey, a biennial study that tracks how companies use voluntary benefits to support wellbeing, enhance benefit programs and attract and retain talent.

An integrated HR, pensions and employee benefits consulting firm,  also found that 72% of employers plan to add new voluntary benefits to fight off the increasing competition for talent.

According to the study, the fastest growing voluntary benefits since 2020 include hospital indemnity (+20%), personal loans (+19%), financial coaching/planning (+19%), caregiving (+12%) and critical illness coverage (+11%).

“The average employer offers 12 voluntary options, providing employees with the choice to select benefits that match their needs and life stage,” said Tom Kelly, a principal in Buck’s health practice and co-author of the report. “And employees agree that voluntary benefits are an essential part of their benefits package and offer better value than buying similar services privately.”

For her part, Ruth Hunt, a principal in the firm’s engagement practice and also a co-author of the report, explained that employers increasingly use voluntary benefits to strengthen their employee value proposition and demonstrate their commitment to supporting the diverse needs of their workforce.

“Benefits meeting essential needs such as emergency savings, mental health, caregiving, credit improvement or personal loans, as well as discount purchasing programs, can play a part in easing the financial and related mental and emotional stress that employees cited as their two top wellbeing concerns,’ Hunt explained. “Both employers and employees agree there must be a more holistic approach to improve wellbeing.”

Other Research Findings

Employers recognize the importance of supporting their employees’ wellbeing to increasing job satisfaction and engagement, the survey found. While 68% have enhanced their employee value proposition, 97% have offered at least one voluntary benefit, up from the 88% Buck recorded in 2020.

“This concurs with employee views: 68% ‘agree’ or ‘strongly agree’ that voluntary benefits are an essential part of a comprehensive benefits package,” the study said.

Some 84% of employers have increased their benefit communications to improve awareness of their offerings and wellbeing support. However, on the employee side, only 51% of workers think their employer has increased its commitment to wellbeing.

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In a study conducted by CITE Research for talent mobility company Topia, Adapt to Work Everywhere, 29% of those who changed jobs in 2021, and 34% of those who plan to this year, said employers’ lack of flexibility was a major factor in their decision-making. At the same time, 64% of those required to return to their offices full-time said the requirement makes them more likely begin job-hunting.

The study “suggests that if companies say no to flexible work arrangements, they will lose talented people and struggle to replace them,” said Steve Black, Topia’s co-founder and chief strategy officer.

Demanding Flexible Work

Despite the widespread availability of COVID-19 vaccines in the U.S. and UK, the study found little interest among employees in returning to their physical offices. Public health, originally the impetus for remote work, is no longer relevant. Instead the freedom, technology and autonomy to work from anywhere has become central to the ideal employee experience.

In fact, a whopping 96% of surveyed employees said that flexibility in working arrangements is important when seeking a new job. Meanwhile, 56% say having the option to work wherever they want defines an “exceptional employee experience.”

Compliance is one reason employers are hesitant to adopt flexible work policies. Specifically, they’re concerned about the inability of HR managers to determine where employees are working and for how long. “In 2021, 60% of HR professionals were confident they knew where most of their employees were located. That number fell to 46% in 2022,” the study said.

Black believes that automating back-end compliance can help address concerns related to employees who work remotely and frequently change locations.

“To provide an exceptional employee experience, organizations need technology that welcomes employees to explore, request and pursue remote work opportunities,” he said.

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Appcast’s 2022 Recruitment Marketing Benchmark Report is based on expansive data – 165 million job ad clicks and 8 million candidate applications – from nearly 1,200 U.S. employers.

The report found that cost per application (CPA) rose by 43% last year when compared to 2020. Meanwhile, the cost per click (CPC) on job applications rose by 54% – a sharp departure from the 11% increase recorded in 2020.

These sharp spikes in recruitment marketing costs, during one of the most challenging years in recent history, appear set to continue this year, Appcast said.

“Overwhelming demand for workers across all industries left job seekers with a wealth of options, allowing people to be more selective,” the report said. “Additionally, many remained concerned about COVID risks and this resulted in a slow rebound in worker participation – something the labor market continues to grapple with.”

At the same time, Appcast’s data on initial cost per hire (CPH) revealed that no single hiring source – job board, website or social media channel, for example – performed best for open positions across all industries. Instead, each hiring source delivered the lowest CPH for at least one job function, but also demonstrated weaknesses, the company said.

“These variations in the performance of various hiring sources emphasize the need for employers to diversify sources and ensure that down-funnel data is at the heart of recruitment advertising decisions,” Appcast noted.

The Rise of Remote Work

The report found that including “remote work” or “work from home (WFH)” in job ads resulted in a higher apply rate and lower CPA. Findings also showed that the median CPA dropped from $23.29 to $20.16 when the job ad mentioned remote work, representing a 13% reduction in costs.

In addition, when work from home options were mentioned in a job ad, the apply rate improved by 12%. This indicates a significant opportunity, with job roles that can be performed remotely, to reach and attract a broader pool of talent while reducing advertising costs.

More Jobs, Less Workers

Out of 24 job functions analyzed by Appcast, only six did not record a decline in their apply rates. The food service industry saw the most notable decline, 2.67%. Job functions with the sharpest declines were found in industries where concerns over COVID risks and working conditions precipitated today’s labor shortages.

While the customer service industry dropped by 1.64%, healthcare by 0.96% and Human Resources by 0.94%, the situation was different in manufacturing. There, jobs fared the best, with apply rates increasing by 3.61%.

“Manufacturing jobs are, on average, good jobs. The typical pay is higher than in many industries while the education requirement is typically a high school diploma. So, there are usually few openings in manufacturing,” said Andrew Flowers, labor economist at Appcast.

However, he added, changes in consumer habits and increased consumption of manufactured goods during the pandemic dramatically increased available job openings in the sector.

To improve recruitment efforts, the report suggested that talent acquisition teams adopt a mobile-friendly application process and emphasize remote work opportunities.

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According to The Wall Street Journal, teachers are burning out in the classroom and the talent shortage is giving them options. Companies are hiring them for jobs in sales, software, healthcare and training, among other things, and giving them pay raises on top of it.

Just over a third of teachers, 34%, said they were considering a complete career change during October – November 2021.  And during 2021, more people left their jobs in education than in any other industry, the Journal said.

Meanwhile, LinkedIn reported that the share of teachers who used the site and changed careers rose by 62%. Frequent switching between online and in-person teaching, ever-changing approaches to mitigating COVID-19 and less-than-ideal dynamics in their relationships with students, parents and administrators have all contributed to the exodus.

Where the Jobs Are

Many erstwhile educators are finding work in IT services and consulting, hospitals and software development, the Journal said. Employers appreciate their ability to quickly understand and share information, manage stress and multitask. They’re taking on roles as salespeople, instructional coaches, software engineers and behavioral health technicians, said LinkedIn.

Many teachers appreciate the chance to spend more time with their family after they’ve changed jobs. However, money’s a factor in their thinking, as well. Teachers in the U.S. make 20% less than other professionals who have comparable education and experience, said CNBC. Not surprisingly, some private-sector jobs pay tens of thousands of dollars more than a typical teachers’ salary, the Journal said.

But some teachers have taken pay cuts to jump into the business world. Pay for teachers varies widely, the Journal noted, with teachers in California, Massachusetts and New York earning an average of more than $80,000 a year, while those in Florida, Mississippi and South Dakota earned less than $50,000.

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According to The Wall Street Journal, a Future Forum report said 95% of the workers surveyed want flexible hours, compared to 78% who want “location flexibility.” (The Future Forum is a consortium focused on reimagining the future of work, led by Slack.) To produce the report, the Forum surveyed more than 10,000 knowledge workers in November 2021.

Nearly three-quarters (72%) of the workers unhappy with the amount of flexibility they had were likely to look for new opportunities during 2022. “If they’re not getting what they want, they’re open to looking for a new job,” Future Forum Vice President Sheela Subramanian told the Journal.

Outdated Outlooks

More teams are coming to their own agreements about when they’ll work, Subramanian reported, adding that flexible schedules will probably last beyond the pandemic. Focusing on the number of hours worked is outdated, she said. Instead, employers should be focusing on the results workers produce and the value they create.

The share of people working in a hybrid situation – splitting their time between their office and a remote location like, say, their home – increased by 12 percentage points since May 2021.

But preparing for the future workplace involves more than adopting employers’ approach to office place and flexibility. A number of executives are concerned with what’s called “proximity bias,” which occurs when people who return to the office get ahead of workers who stay at home, Bloomberg said. At the same time, business leaders prefer working from the office and want their subordinates to do the same. More than 40% said potential inequities between remote and in-office employees was their top concern, according to the Future Forum’s report.

That sets up a tension with underrepresented groups. Women and minorities tend to prefer working from home rather than trekking to the office, the report said. “Companies have to understand that their diversity efforts and their future of work plans are going to be linked,” observed Slack Vice President and Future Forum leader Brian Elliott.

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From supply chain disruptions to service shortages, the entire nation is feeling the impact of the talent shortfall. Employers are promoting promises of great pay, generous bonuses and previously unheard of perks like quick access to wages and flexible schedules. 

Indeed, the market belongs to the workers, particularly non-exempt employees in lower wage sectors like hospitality, health services and retail.

The escalating hourly worker shortage has consequences not only for business morale, productivity and profitability, but for the consumer experience as well.  

The Big Picture

It’s hard to ignore headlines about record numbers of people quitting their jobs, now known as “the Great Resignation,” and the existence of more open jobs this year than at any time in history.  

A recent article in CNBC demonstrates the urgency of the situation as employers go to new lengths with pay and perks to hire and retain employees. As workers become more discerning about the kind of jobs they take, the average wage of restaurant and supermarket workers rose above $15 an hour for the first time ever.  

In a recent NBC news report, the president of a Maryland steel product manufacturer characterized the current labor market as “crazy town,” noting that even after a 20% increase in wages, it’s still difficult to get people to send in resumes and applications, let alone show up for interviews.    

What Employers Overlook  

Throughout the last decade, more sophisticated employer branding and recruitment platforms, digital outreach and applicant tracking systems have largely targeted exempt and white-collar workers.

Alternatively, hourly workers have typically been marketed to via local in-person events such as walk-ins, job fairs and career days. Now that COVID has forced most recruiting efforts online, even for hourly roles, employers need to recognize that most lower wage hourly workers are online via their phones, not their computers.

To close the gap, campaigns and applications must be adequately optimized for mobile so workers can enter the process.

Many employers also fail to take into consideration the overall needs of non-exempt workers when crafting recruiting communications. For example, although pay is always a major consideration, employers tend to overlook the fact that non-exempt workers also care about working conditions, company culture, flexibility and advancement opportunities. 

When Salary Isn’t Enough  

Today, wage increases aren’t sufficient. Employers need to offer more flexibility and creativity to attract and retain hourly talent. Here are a few ideas to get you started: 

Know Your Talent Competitors: 

In addition to competing for talent with other companies within your industry, your greatest competition is likely those in your local market that hire for the same skillset, including your local Walmart, Target and Amazon distribution center.

Study the work environments of such talent competitors and offer more. Keep that promise at the forefront of your hiring communications.  

Invest in Advancement Opportunities

Invest in advancement opportunities that reward workers for skills learned.  This is particularly significant for non-exempt employees where training is often basic and only focuses on the employer’s immediate needs.

Instead, invest in an employee’s potential growth and longevity within the company.

Rethink Bonus Programs:

Most employers are paying sign-on bonuses that pay out over 90 days. But what happens if your new employee applies for a job down the street on day 91?

Sign-on bonuses are not enough in this market. Consider retention bonuses, performance bonuses and structured career growth with pay increases as the employee advances. 

Strengthen Your Employer Brand: 

Your image as an employer to current and previous workers is just as important as your public consumer brand. From culture, salary and benefits to flexible work schedules and advancement opportunities, your reputation for how you treat workers is often your best avenue for attracting new talent.

Social media makes it very difficult to control your reputation, so walking the talk is a sure strategy for getting more employees to encourage their friends and acquaintances to apply for jobs.

Holding open houses at plants and facilities is another way to get people in the door to see for themselves all that your company has to offer. 

Make it Simple to Apply and Reduce Barriers to Entry.

Persuading more non-exempt workers to apply may require you to adapt processes to align with applicant availability. Consider self-scheduling of interviews 24/7, and not requiring resumes or email addresses.

Other concessions to bring in talent more quickly might involve speeding up your onboarding process. New hires can easily be lost due to lengthy background and drug screening processes. 

Non-exempt workers make up over half of our workforce, yet almost every company is struggling to hire them. Improve your competitive positioning by taking the time to better understand the needs of hourly workers, making them feel extra welcomed and demonstrating how the benefits you offer have meaning to their unique situations. 

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