The attraction and retention of talent are permanent issues on the table of companies, today the human resources areas face not only an unpredictable global economic context that impacts people’s labor decisions, but also a change in their behavior Derived from new ways of working, a revalued scale of priorities and new trends in hiring.
Active listening has established itself as a key skill in defining new strategies. Understanding the priorities and professional objectives of employees, and matching them with the talent needs of companies, is the challenge in this stage of reconfiguration of the labor market.
Based on the results of a survey of more than 50,000 job applicants and thousands of conversations with employers around the world, presented by the recruitment firm Page Resourcing, we can define the hiring trends that will define the job market in the months to come.
Hiring and Recruitment Trends
1. Fewer vacancies or hiring freezes
The uncertainty generated by the economic situation makes companies be more cautious before increasing their workforce. On the other hand, some of the strategies to get ahead in this context require the search for specialized positions that are strategic for the necessary solutions.
2. Increase in salaries due to inflation
Already in the Remuneration Study 2023 PageGroup had reported the projection of a salary increase this year, by 6 out of 10 employers, of between 1% and 6%. While many other benefits have shifted the scale of factors employees value to stay in a job, salary remains the top decision factor.
3. Agreements on hybrid jobs
This is a very clear trend in recent months and it will continue to increase until it becomes a normal practice. In the past, it was not very common for an employment negotiation to put on the table the possibility of adopting a hybrid work model, between face-to-face and home office, today it has become one of the benefits under discussion and an opportunity for the companies increase their value proposition.
4. More investment in the well-being of employees
People have become more aware of the issue of taking care of not only our physical but also mental health. Among the most effective benefits for retention is an attractive compensation package that includes not only salary but also personalized benefits, schedule flexibility, professional development opportunities, wellness support, and a strong and diverse organizational culture.
5. Attracting diverse candidate pools
The promotion of Diversity, Equity and Inclusion policies is one of the trends that has stood out in recent years. Having diverse work teams contributes to the development of the business while helping to create a more attractive employer brand for all people.
Identify these trends to improve recruitment
Once the trends are identified, what follows is to see how we can use the valuable information provided by applicants and employers to improve our recruitment processes.
Some key areas that HR specialists should be considering are improving the employee value proposition (EVP) and employer branding of the company, paying attention to diversifying the existing workforce, attracting qualified talent even at times without a vacancy and optimization in recruitment processes.
One last important issue to consider is empathy with applicants at the time of recruitment processes. The perception of the candidates about the labor market and the economic situation, at least in Latin America, is optimistic when considering the future, at least 64% are convinced that they will find work in the next 3 months. Today we have the information to help us make decisions to turn this optimistic scenario into a reality.