The pandemic hit us this past year with labour shortages, the Great Resignation and signs of another recession but now is the time to rethink hiring and recruitment strategies for 2023. While we cannot foretell the future, we can identify and interpret the most successful trends to hire in India that we’ve seen coming through the end of 2022. In this post, we will discuss the most popular topics that can improve your hiring strategy and get your business to a head start.
RECRUITMENT STRATEGY TRENDS
1. Economic uncertainties will impact hiring
As an impending recession looms and inflation heightens, employers and employees can expect economic uncertainties to affect their ability to acquire work and hire in the upcoming year. Most industries are witnessing budget cuts due to slowed economic growth and inflated pricing. All teams, including hiring, will have to rethink their approaches for hiring virtual employees in 2023.
2. Employees are in search of higher compensation
Employees are walking into the new year with hopes of receiving a salary that can help sustain them as best as possible amidst concerns related to inflation. Recruiters should prepare to hire virtual employees by negotiating with more than one offer on the table that is reflective of their level of education, experience and exposure.
3. Gen Z will be entering the workforce
According to Forbes, Gen Z will constitute 27% of the global workforce by 2025. This new wave of employees will come into the workplace with different expectations and priorities, especially in comparison to the bygone generations.
4. Employer branding will be more people-centric
Your brand identity determines how people perceive you at the first glance. They will look at the goals and values of your company when they hit your website or landing page. If your brand lacks an ethical or people-centric indicator, it might fail to draw in the newer wave of job seekers, especially those driven by social responsibility.
5. Interview processes will become more streamlined
54% of Gen Z are expected to leave an online job application incomplete if the hiring process is too long, complicated or antiquated for that matter. Chalking out a straightforward interview process that communicates clearly with potential candidates will allow recruiters to discover talent while they are still focused on the process and its learnings.
6. Remote and hybrid work is here to stay
The demand for workplace flexibility will only grow more popular this new year. In 2022, there was a lot of hullabaloo over whether in-office work served more productivity but on average, remote work productivity far superseded its real-world counterpart. So hiring managers should consider virtual workers to work form home as a way of attracting top talent.
7. Social media will be increasingly used for recruitment purposes
Social media can prove to be a powerful hiring channel. Candidates get to to digitally showcase their talent in the form of portfolios and pin boards while recruiters can use the platforms to post information about newly published jobs and opportunities. While hiring offshore employees, candidates can learn about opportunities in distant places and also display their accomplishments to potential employers.
8. Data-centric recruitment will become a priority
When hiring virtual employees through job listings, you want to make use of technology that matches suitable candidates with the required skills and experience that your business requires without having to manually sift through dozens of applications. Tools that help screen resumes to verify accurately historical data of potential candidates can be a great investment to improve your quality of hiring.
9. The use of AI and HR automation tools is on the rise
Hiring managers are trying to optimize their time while scouting for fresh recruits. Reportedly, 67% HR professionals agree that AI has many advantages to offer to the recruitment process. When you hire offshore employees especially, it is important to streamline your recruiting as well as interviewing process so you can minimize the use of unnecessary resources or wasting any of it.
10. Soft skills are in demand
Companies across the globe are beginning to focus on the soft skills of their employees. Due to the pandemic, a skills deficit was witnessed due to the amount of business being carried out in person. Even though this may not have hindered their ability to quickly grasp on to hard skills. Candidates proficient in soft skill surely grew more scarce. Some of the top soft skills to look for when you hire in India are collaborative skills, problem-solving skills and communication skills.
EMPLOYEE RETENTION TRENDS
11. Talent pools are becoming more common
The current labour market is undergoing a skills deficit and that is the problem that talent pools can solve. Announcing existing vacancies to pre-existing talent pools endorses talent retention and improves company loyalty, especially when you’re hiring virtual employees.
12. Upskilling will lead to internal recruitment
Companies should try to train their own employees to take up leadership positions. Not only is this more cost-effective than hiring externally, but you will also reduce employee turnover by enabling upward mobility. Resources that are well-versed in your systems may already be sitting on innovative ideas that can help improve your business. Hire offshore employees from India to take your business to the next level.
13. Companies will want to rehire former employees over new ones
Remember that a boomerang employee has a lot to offer. Through the Great Resignation, one in four employees wished they hadn’t left their company in the midst of the quarantine. As businesses attempt to fill these pre-existing positions in the new year, they will surely reach out to former employees.
DIVERSITY & INCLUSION TRENDS
14. Recruiters will emphasize on inclusive language
Virtual workers or real-world workers, both want to work with companies that have clear values and a vision. They also want to be able to be themselves at their workplace. Firstly, you spend a huge portion of your day there and secondly, you can only perform at your best when you can actually be yourself. Hiring teams will now have to start being more attentive . And attentive about engaging automation tools during the interview process to be more respectful to a diverse pool of talent.
15. Salary discussions are going to become more transparent
Certain states, like Colorado and California, have laws that compel employers to provide a salary range for job listings. This is a massive shift from the times that candidates would have to play a guessing game well into their interview. Professionals no longer have the time to interview with multiple businesses only to be offered remuneration that isn’t even close to their expectations.
When you hire in India, you can rest assured that all your financial discussions are going to be transparent and no hidden costs are going to be involved. This is because businesses in India understand transparency in salary fosters equitable pay for women . And this encourages marginalized communities to at least gain access to fair wages.
In Conclusion
Even though 2022 was very uncertain for everyone, hiring managers have had the time to adapt to newer strategies. This can help you find the right candidates to make your business succeed. We hope our post will help you improve your talent search and build the employee pool you’re looking for this year.
