The hiring landscape is constantly evolving, and it can be tough to keep up with the latest trends. That’s why we’ve put together this post on the top hiring trends for fall 2023. In many ways, none of these are new but gained new importance.
While generational shifts are always happening, we’re at a more monumental inflection point, in the post-covid/Boomer retirement era. Gen Z is about to enter the workforce in huge numbers, just as many older workers are exiting, some accelerating retirement during and after the pandemic. Also, workers of all ages have been re-evaluating work priorities in the face of economic realities and life balance. Today’s workers have different expectations than their parents did, and the old model of staying loyal to a single employer for an entire career is all but dead. Add in the surging gig economy and “side hustle” mentality and it’s a new playing field. Here is what we’re seeing as immediate trends as we enter the fourth quarter of 2023.
- Remote Work. It’s official, it’s here to stay. Whether hybrid or flex schedules or fully remote, workers want this and employers need to evaluate all positions to see what is possible on this front. The “return to work” mandates have not been well received and people are taking note. With the rising and often prohibitive costs of housing in some markets, not to mention child and elder care costs, workers need some options to work from home. The work day has also changed, with many citing three distinct “work periods”: morning, early afternoon, and evening. Employers who are responsive to this will attract top talent.
- Pay transparency. It’s mandated in some areas, and undoubtedly seeping into all others. It’s also part of today’s faster hiring process. Candidates do not want to waste time on multiple rounds of interviews to find out at the end that the pay range isn’t even in the ballpark. It’s a waste of both parties’ time. It’s far better to get this squared away up front. And posting pay ranges of $1-$1,000,000 to get around requirements isn’t going to cut it.
- Automation. As technology continues to evolve, more and more tasks are being automated. This means that companies need to be prepared to automate some of their hiring processes. More and more tools are entering the market to help employers source, screen and speed top candidates to roles that match. Recruiters and HR professionals always need to do more with less – it’s time to invest in the right tools.
- Personalization. Automation doesn’t mean impersonal outreach. Today’s candidates, passive and active, report they value a personal outreach and connection. The recruiting industry is about relationships, and that can’t be replaced by technology. Savvy employers will use recruiters who understand this.
- No Sweeping Candidates’/Employers’ Market. We’ve read the headlines for the last year. But reports of “It’s a Candidates’ Market!” or “It’s an Employers’ Market!” are outdated. While unemployment remains low across the country, it doesn’t tell the full story. In the current environment, everything is granular, and every industry vertical and job title is different. We’re seeing some roles constantly in demand with top candidates receiving multiple offers and inquiries on a weekly basis. Other positions have a surplus of candidates on the market, competing for a limited number of roles. The only thing certain is we can’t paint the employment landscape with a broad brush.
These are just a few of the top hiring trends we’re seeing for the fall 2023. If you’re looking to hire top talent, you need to be aware of these trends and be prepared to adapt your hiring practices accordingly. As always, it’s best to have an experienced team like TalentReach behind you as you enter this final quarter.