Numerous businesses will still have to make layoffs in the coming year. Businesses are preparing for a possible recession and adopting preventative measures to make sure that their hiring budgets stay constant or only rise as needed. As a result of organizations competing for top people, hiring will probably get more competitive in 2023.
We can expect several trends to influence hiring processes this year.
Flexible hours and a hybrid work model is one trend, that will have a big impact in the new year. This year, employees are increasingly looking for work-life balance. Companies will need to come up with innovative solutions to support top talent as they seek remote options at an increasing rate.
Beyond money, how employees feel about a company and their job could be a significant deciding factor in a job hunt. In light of this, organizational culture is important, and many job seekers are looking for an organization with a supportive culture that will improve their quality of life.
Traditional methods of recruiting, such as job postings or word of mouth, are no longer the only options available. To find top talent, businesses are increasingly using social media and digital hiring platforms like LinkedIn, Indeed, and Glassdoor.
We’re probably all experiencing inflation, and as a result, job searchers expect higher pay or more benefits. Some companies are boosting more traditional benefits in their compensation packages and actively marketing them to get more candidates for their open positions as firms cannot always choose to simply raise compensation for available positions.
In 2023, we can expect to see a more open discussion on pay transparency. Beginning in January in the United States, new laws governing salary transparency went into effect. Employers with 15 or more employees will be required to disclose wage ranges on job listings on the hiring page of the firm or on external job boards like Glassdoor and LinkedIn. Upon request, a business must also give an employee the pay scale applicable to the position they now have.
Another trend that will be addressed is the four-day work week. A study has been completed in the United Kingdom in which several companies tested what a four-day working week could bring them. This resulted in not only an enhancement in employee well-being, but also a rise in revenue, showcasing the positive impact of these changes. The results were successful, with 56 out of 61 companies deciding to continue with the four-day work week after the trial.
We would love to hear your thoughts! Which of these trends do you think will have the most significant impact on recruiting this year? Do you agree with our predictions, or do you have other trends in mind that we missed? Let us know!