Candidates: Are you interviewing and need support?
As we enter year two of an unprecedented labor market — fueled by new candidate expectations, record turnover rates, and lingering employee burnout — the pressure on talent teams continues to grow.
But in the new year, along with familiar challenges also comes the opportunity to rethink talent strategies. Here are 5 trends that will have some of the greatest impact on how we find, hire, and retain talent in the next 12 months.
If the pandemic taught us anything, it’s that things can change in the blink of an eye. So to keep up with changing priorities and a shifting future, talent leaders are recognizing the need for more agile recruiting strategies.
To find efficiencies and leverage the power of data, many talent teams are implementing hiring technology. In fact, according to a recent study conducted by HireVue, more than 75% of talent teams used interview technology in some capacity in 2021, and nearly half are using some form of automation in their hiring process, whether it be text recruiting, chatbots, or conversational AI-powered technology like HireVue’s Hiring Assistant.
With a more responsive, flexible hiring culture, talent teams can quickly adapt to candidate and employee expectations, make better hiring decisions, and rely on data to monitor results and make improvements on the go. Additionally, regular touchpoints and effective communication give HR leaders the power to keep momentum going.
Fifty-five percent of respondents in a recent Korn Ferry survey said they expect employee turnover to increase in 2022 — a concerning prediction for many. So as HR leaders struggle to come out ahead of this growing talent shortage, more and more are looking at internal mobility for an edge.
In a competitive job market where hiring is hard, focusing not only on retaining existing employees, but also helping them grow into new roles, is a critical step. Because with a new wave of automation and digitization entering our workforce, jobs are changing fast. The World Economic Forum’s Future of Jobs Report suggests that by 2025, 50% of employees will need reskilling — a transition which was accelerated by the pandemic.
There’s no denying that employers who prioritize employee skill-building to keep up with advances in technology will be the ones that come out on top. HireVue’s game-based skills assessments can help quickly engage and assess candidates old and new, measuring just the right mix of competencies.
Over the last two years, employees all over the world experienced a different way of working — and many of them now expect employers to deliver better work-life opportunities.
Forward-thinking employers are on board, too, driven by the desire to turn The Great Resignation into The Great Retention, and ready to offer the flexibility, appreciation, and growth opportunities great talent is looking for.
That’s why many are replacing fun office perks like shared lunches and beer on tap — now obsolete for fully remote teams — to mental health benefits and more paid time off. In 2022, the companies that provide employee support and guidance, keep them engaged with remote flexibility, provide better benefits, and demonstrate commitment to DE&I are the ones that will win the best talent.
One thing is for sure — it’s still a candidate’s market.
The pandemic’s rapid economic recovery forced talent leaders to concentrate on bringing people in the door, fast. But during the process, many discovered that their tried-and-true hiring process was complicated, clunky, and way too slow.
To create a hiring process candidates want to stick with, innovative talent teams are focusing on making it fast, friendly, and easy to navigate. No more weeks-long email thread, and no more candidate black hole. The future of candidate-focused hiring mobilizes candidates to take charge, like with HireVue’s automated interview scheduling software, which empowers candidates to self-schedule, reschedule, and manage the logistics of their hiring process themselves.
Expanding DE&I efforts continue to be a top priority for HR leaders. But even with the push to prioritize diversity, equity, and inclusion, a Gartner study shows many companies still lack diversity among mid-level and senior positions.
The best leaders will drive DE&I efforts that candidates and employees can see and feel. For candidates, this starts with a fair hiring process. To increase workplace diversity, leverage AI to provide candidates with a fair, structured interview process. Then, ensure your interview panels represent diversity so candidates feel understood.
As we begin a new year, one thing remains certain — we’re all navigating a climate that is, and may continue to be, disruptive and unpredictable. To stay one step ahead in 2022, talent leaders must create both talent acquisition and talent retention strategies that will be effective, even in uncharted waters.
Ready to start the new year off right? HireVue gives you the technology you need to automate your workflows and improve the way you discover, engage, and hire talent.
To learn how HireVue can help you, request a demo.