Of course, high volume hiring trends emerge and evolve continuously, but the start of a new year will always mean “New Year, New Trends” time! And, the thing about trends is that recruiting teams must always stay on top of the latest news, predictions, insights, best practices, and hiring processes. That is if they want to recruit efficiently, as well as stay ahead of the curve — and the competition in high volume hiring for 2023 and beyond.
Below you will find a list of the emerging and evolving trends that will have an impact on high volume recruiting strategies for 2023. And, we encourage you to use them to help determine how to prioritize your organization’s recruiting investments this year.
#1. Increasing Use of Recruitment Automation
Be on the lookout for “Recruitment automation” becoming the top HR buzzword of 2023! According to one LinkedIn Study, the average recruiter currently spends up to 30 hours of their 40-hour week focusing on administrative work instead of candidates. Furthermore, the same study shows that the average role took 36 days to fill, yet top candidates are only on the market for an average of 10 days.
Long complicated hiring processes, laborious recruitment strategies, and repetitive manual tasks can all significantly slow down an organization’s hiring speed. But, through the use of recruitment automation, hiring teams can access on-demand sourcing, automated SMS engagement, recruitment analytics, candidate tracking, and more. For 2023 recruitment automation will be a game changer in saving time, reducing time to hire, converting more candidates to hires, and snagging top talent faster.
#2. The (Continual) Rise of Data-Centric Recruiting
The use of analytics in recruiting is in no way a new concept. Recruiting teams have a long history of using data to help make decisions. But, what’s evolving is the use of advanced technology to make hiring strategies more precise and hiring teams more agile.
Real-time analytics and insights – from candidate processing rates to the quality and effectiveness of campaigns and time-to-hire statistics. Today, data is allowing modern talent acquisition teams to craft automated processes that reduce/eliminate manual work while routinely attracting, engaging, and hiring the best talent.
#3. A (Continued) Increase in Employer Branding Initiatives
Investing in employer branding initiatives continues to be a priority this new year. And, it makes sense, modern candidates seek companies that align with their own values and want an idea of what it’s like to work in the company before applying. Now, let’s take a quick look at some employer branding stats to help illustrate the importance of this trend.
- 92% of employees would consider leaving their current jobs if offered a role with a company that had a better reputation
- 75% of candidates research a company’s reputation before applying for a position
- 69% of job seekers are more likely to apply for a job if the employer actively manages its brand
- 50% of candidates say they won’t work for a company with a bad reputation – even for a pay increase
- 37% of candidates will move on to another organization if they can’t find information on the company
Staying competitive in a tight candidate-driven labor market means continuously investing in your employer brand, and remains a top priority for companies in 2023.
#4. Expanding Job Advertising Presence
Heading into the new year, 57% of companies expect to increase their advertising budgets for open roles. When it comes to recruitment advertising, keep in mind that posting open positions on job boards is a solid first step to broadening your company’s talent pool. But, statistics show that 70% of all candidates in the market are passive candidates, and the fact is that job board postings will never reach this talent. Moving into 2023 expect to see a rise in social recruiting as a means of targeting both active and passive candidates. Furthermore, 79% of job seekers say they are likely to use social media in their job search and this percentage increases to 86% for younger job seekers making the use of social recruiting one trend you don’t want to miss out on.
#5. The Increasing Importance of Automated Nurturing
Look to see a rise in candidate nurturing and engagement initiatives for 2023. The global pandemic has shifted us into a candidate-driven market. Companies that fail to embrace nurturing may find themselves losing out when it comes to top talent acquisition. When it comes to candidate nurturing, manually emailing prospects at a high volume level is time- and labor-intensive. It’s also a dated, ineffectual, and unsustainable practice. Studies show that SMS has an open rate of over 98% compared to an open rate of just 20% with emails. To efficiently build relationships with prospective hires and move them through the recruitment funnel an automated approach is needed.
At Work4 we’ve found that hiring teams are able to contact 90% or more of the candidate leads they receive, and hiring times can be reduced by half when using our automated platform.
Embrace the Trends of High Volume Hiring Today
As your organization enters a new year of recruiting, pursuing a scalable high volume hiring strategy will be essential to attracting, hiring, and onboarding quality talent to drive organizational performance and alleviate the pressures from market slowdowns. Contact Work4 to discuss a free trial of our recruitment automation platform that will provide your talent acquisition team with data-driven recruiting that improves employer branding, expands your job advertising presence, and provides automated candidate nurturing. Go from “we’re hiring” to “you’re hired” faster with Work4 technology today.