Talent acquisition marketplace trends


June 9, 2022

Through the day-to-day work supporting clients and candidates, we see how employers and HR personnel are adapting and evolving their recruitment approach to suit the current candidate-driven market. Here are some of the emerging trends and recruitment actions becoming a top priority as employers look to compete and stand out.

1. Agile Recruitment Processes in Sync with Market Conditions 

Due to the rapid evolution of roles, business leaders are unsure of whom to hire today, let alone tomorrow. HR teams need more effective methods for developing talent acquisition strategies that are sensitive to ever-changing business needs.

2. Need for a Seamless Candidate Experience (CX) at Every Touchpoint

86% of organizations adapted to virtual interviews to hire during COVID-19 necessitating the need for a positive candidate experience delivered digitally. Organizations should focus on creating ‘moments that matter’. As they map out the candidate journey, it’s important to consider every touchpoint, as they accumulate to fuel either a positive or negative employer brand and employee value proposition – two essential elements companies can’t afford to undervalue right now. 

3. Mobile-first Approach, Expectations of a Consumer-Grade Experience from Workplace Applications 

Millennials are projected to form 75% of the workforce by 2025. One of the keys to success in becoming an appealing, viable employer for candidates is to develop attractive tech environments that keep them engaged during the hiring process. The adoption of chatbots, mobile applications, text messaging, and more can help you create tech-driven engaging environments.

4. Need to Invest in an Employer Brand to Attract Right-Fit Talent 

75% of job seekers evaluate your brand before even applying for a job. Organizations must be conscious of their reputation at a time when the workforce and workplaces are being redefined, and talent is frequently switching jobs. In order to attract and retain the best talent, organizations are now investing in a strong Employer Branding strategy. 

5. Diversity, Equity, Inclusivity & Belonging (DEIB) 

Focused Hiring Candidates today are looking for organizations that have a good track record of diversity and inclusion. Diversity, equity, inclusion, and belonging (DEIB) work together to build workplaces where people from all backgrounds can thrive and work together in harmony. Candidates prioritize a diverse leadership team, a stance on social justice issues, and strong employee culture. DEIB is proving to be an integral part of recruiting strategy for organizations looking to build a work culture where each employee feels safe, secure, and valued.

6. Reduced Recruiting Budgets 

The economic repercussions of the Pandemic have had a significant impact on how recruiters function, particularly in terms of recruitment budget allocation. The 2021 Gartner HR Budget and Staffing Survey show over one-third (34%) of HR leaders plan to decrease the HR function budgets this year. That’s twice as many as in 2020 when only 17% expected their HR function budget to decrease. Recruiting is the main focus area when it comes to decreasing budgets in 2021, with 30% of organizations agreeing they will reduce these expenses. This is partly driven by increasing process standardization and automation in the recruiting process. 

7. Focus on Productivity 

Fluctuating customer demands have fuelled business volatility, driving organisations to incur huge losses. To increase profitability, it’s essential for organisations to focus on Productivity. A Gartner research article states that a “diverse” workforce improves employee performance by 12%. No wonder, there is a strong focus on Diversity, Equity, Inclusivity & Belonging (DEIB) at the workplace, more now than ever before. As the world becomes increasingly digital, automation takes care of repetitive, time-consuming tasks, while HR teams can focus on high-value roles.

8. Evolution of HR as a Strategic Business Partner 

The role of HR as a strategic partner is to develop and direct an HR agenda that supports and drives the overarching goals of the organization. In other words, a strategic HR partner bridges the gap between the HR team’s work on the ground and the mission of the C-suite. To achieve this, strategic HR partners make sure that the HR policy, procedures, and governance aligned with the bigger picture. A strategic HR partner operates as a:

  • Strategic advisor
  •  Problem solver 
  • Mentor and coach 
  • Independent leader 

This excerpt has been borrowed from a white paper published by hrtech.sg,  in collaboration with impress.ai

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