Trend #1: Diversity, fairness, and inclusion are no longer a “nice to have,” but rather a “must have.”
More and more workers will identify with honest organizations about their DE&I policy and commitment as they have a better understanding of social concerns.
Diversity and inclusion are not merely a nice-to-have but an essential part of a company’s long-term success. According to McKinsey’s Diversity Wins study, a more diverse workforce has been associated with increased profitability. More than one-third of companies in the top quartile of ethnic/cultural diversity on executive teams had industry-leading profitability. Companies with the highest levels of female representation on executive teams outperformed on profitability by 21% and created 27% more value.
The increased demand for senior and leadership posts like “Chief Diversity Officer,” “Head of Diversity & Inclusion,” and “Vice President of Diversity & Inclusion” is also a reflection of this desire to promote DEI inside firms. Since June 2020, LinkedIn reports that job postings have increased 2.6 times.
What are the best ways to make DEI a part of your hiring process?
As Tony Lee, VP of editorial at SHRM, says, “Broadening the notion of what an effective, successful applicant looks like will assist ensure that you’re more inclusive.” Include age, handicap, and neurodiversity in your search criteria, or consider removing the necessity for a four-year degree, as IBM, Costco, Hilton, Nordstrom, and Bank of America have already done.
A broad team of recruiters should be in place. This will assist applicants in feeling more at ease throughout the screening and interview process.
Create job descriptions that are inclusive of all candidates by utilizing language devoid of gender connotations.
Many firms find it challenging to hire diverse people, even though it should be a no-brainer. You may have to have difficult and often painful discussions in the short term, but this is a long-term investment in your company’s innovation.
Trend #2: Remote recruitment is here to stay.
This year’s shift to an online-first model has positively influenced firms’ ability to attract new employees, particularly in remote work. While the benefits of remote recruiting for companies are widely known, the following are the key advantages for recruiters:
A bigger and more diverse workforce: A company’s success or failure is directly related to the quality of its workforce. Recruiters no longer have to be constrained by a company’s location in order to locate and employ the finest applicants, thanks to the elimination of this previously impeding issue.
A Fortune 500 consumer products firm uses remote workers from nine countries to help them grow their campaigns.
Video interviews and digital feedback gathering may speed up the time it takes to hire a candidate using remote recruiting methods like these. Because there is no travel involved, scheduling is simpler and more cost-effective.
According to LinkedIn’s latest Future of Recruiting: Asia-Pacific survey, 74% of APAC firms want to continue virtual recruiting in the post-COVID era. Eighty percent of those surveyed stated they now conduct all of their interviews and hires over the internet.
Your remote workforce may be more diverse in gender, color, ethnicity, sexual identity, and ability since you can hire people worldwide.
It’s hard to argue against expanding and strengthening remote recruiting capabilities when you have these advantages. According to Eric Friedman, a member of Forbes’ Human Resources Council, finding and integrating the necessary technologies for a long-term and efficient remote talent acquisition plan is the biggest hurdle. What matters most to talent acquisition professionals is finding platforms that increase recruiting efficiency and smoothly interface with current HR systems.”
Moreover, as HR experts are well aware, attracting new employees is one thing, but retaining existing employees is another. Fresh methods and adaptable mindsets are needed to keep people working from diverse regions of the globe in sync, supported, and motivated.
Finally, implementing these flexible work arrangements at your organization might be the deciding factor in a job candidate’s decision. In a Gallup poll, 35 percent of workers would be willing to leave their current positions if required to work from home full time.
Trend #3: An on-demand workforce is in high demand.
In 2001, Dan Pink envisaged a future dominated by independent laborers in his book Free Agent Nation. Businesses are increasingly interested in an on-demand workforce as remote work and remote recruiting become more commonplace. This is the reason:
Talent’s accessibility: In today’s so-called “Gig Economy,” there are many people out there. 162 million individuals in the United States and the European Union are “gig workers,” according to a McKinsey Global Institute study.
Finding freelancers has never been easier. The number of digital talent platforms has increased from 80 in 2009 to over 330. There have been early adopters, including Amazon, Unilever, and Enel.
The benefit of using a workforce that is available on demand
As a result, organizations may easily commission one-off jobs and projects; Flexi and independent employees can offer high-impact work without requiring complete recruiting into the firm.
According to the authors of Harvard Business School and Boston Consulting Group’s Building the On-Demand Workforce study, “on-demand, highly qualified individuals enable firms to tap into expertise they don’t have internally and enhance their capabilities.” “As a result, the company’s capacity to perform essential projects quickly and efficiently is rapidly improved.”
Using on-demand services also has the added advantage of increasing diversity and inclusion.
Because of this, over 90% of business executives believe that talent platforms will play a significant role in their company’s future success. Most respondents predicted that they would increasingly choose to rent, borrow, or share the talents of others.
Trend #4: More businesses are relying on talent networks for staffing needs.
In the search for superior candidates, business executives and recruiters may find the usage of internal and external talent networks very beneficial.
An excellent source of potential applicants for your open positions is your own company’s internal talent network, including fans, employees, former coworkers, alumni, and even customers. Comparable to your own personal LinkedIn. For instance, recruiters may nurture candidates by providing them with information about job openings, events, projects, and other career-related material.
As a consequence, what happened? A talent pool can be tapped into today, next week, next month, or perhaps next year. Global firms like AT&T, Microsoft, IBM, and many more increasingly use internal talent networks.
With the growth of digital platforms (Deloitte estimates that talent platforms handle over €2 billion in freelance or contract activity), businesses may locate possible candidates in minutes. External talent networks. If you don’t want to waste time waiting for potential hires, you may tap into the expertise, speed, and scalability of online communities like Unicorn.io.
Trend #5: Employer branding is a key business investment.
Employer branding (also known as a company’s reputation) has emerged as a significant recruitment and retention tactic this year due to a shortage of qualified candidates. This was essential even before the epidemic.
Candidates are more likely to apply for a position and stay on board if they have a favorable opinion of your business, mission, culture, the people who work there, and your organization’s purpose. Turnover may be reduced by 28%, and the cost per recruit reduced by 50% when an employer has a good brand.
What are the best ways to build a successful employer brand?
Create an employee value proposition (EVP). Talk to all stakeholders—executives, staff, and customers—to understand what makes your organization unique.
Using your website and social media to share your story is smart. A company’s website and social media are used by 52 percent of job seekers as a source of information. All of your content assets must be genuine and comprehensive so that prospects know precisely what they can anticipate as an employee – be advised, today’s digital natives take sites like Glassdoor very seriously when figuring in their choice to apply to a firm.
You may do so if you want to demonstrate that your firm is a fantastic place to work on social media sites like Twitter, Facebook, Instagram, and LinkedIn. For example, on Microsoft’s Instagram feed, the company showcases every facet of the employee experience.
To recruit the best people, you need to use the power of your current workers. In fact, prospective candidates are three times more likely to trust a firm’s employee than trust the company itself. It’s important to encourage your staff to talk about their work experiences on social media and on review sites like Glassdoor.
You’ll find it simpler to recruit excellent people if you regularly get your workplace branding correct. As word of mouth spreads across the talent pool, you’ll get a wider audience at cheaper marketing expenditures.