Top Hiring Trends in 2023: Embracing a Changing Market
Due to unique pressures related to inflation, the year 2023 has witnessed a significant transformation in the way organizations approach hiring. The hiring market is also evolving because of technological advancements and changing attitudes toward work.
Even if it feels like the pandemic is over, the resonances of COVID-19 continue to influence the global economy – as well as hiring trends in 2023.
To stay competitive, companies must continue to embrace notions like remote work and diversity, equity, and inclusion (DEI) initiatives to attract top talent. In this article, Mac & Fulton Talent Partners will explore hiring trends we’ve seen so far in 2023 and how businesses can leverage them to build a thriving workforce.
The remote work revolution that gained momentum during the COVID-19 pandemic continues to shape the job market in 2023. Many employers and employees have come to appreciate the benefits of remote work, such as increased flexibility, reduced commuting stress, and access to a broader talent pool. However, some companies also report a downtick in the camaraderie, loyalty, and teamwork that often come with an in-person work environment.
Regardless of your views on remote work, it’s evident that you need to offer at least a hybrid office model to attract quality candidates today. As Forbes explains, in 2023, “sixty-five percent of workers desire to work remotely all the time.”
To account for the remote work trend, employers should focus on building a strong remote work culture, implementing effective communication and collaboration tools, and prioritizing the well-being of remote employees.
Another important hiring trend that M&F Talent is seeing in 2023 is less of an emphasis on specific college degrees and accreditations, and a large focus on specific skill sets. Employers are beginning to value candidates’ specific skills, competencies, and potential for growth rather than just their educational background.
The Harvard Business Review puts it this way, “The essence of the structural reset is this: In evaluating job applicants, employers are suspending the use of degree completion as a proxy and instead now favor hiring on the basis of demonstrated skills and competencies. This shift to skills-based hiring will open opportunities to a large population of potential employees who in recent years have often been excluded from consideration because of degree inflation.”
M&F Talent has also seen this shift in specific markets where we work. For example, as the controlled environment agriculture (CEA) continues to mature, there is a much larger pool of candidates with practical skills available than there was a decade ago. As such, we have been able to deemphasize specific college accreditations in recent years.
Artificial Intelligence (AI)
It’s very possible that the year 2023 will be remembered as the “year of AI.” Starting with the release of ChatGPT in late 2022, nearly every business in every industry now sees AI as a potential game changer in one facet or another. Looking at the human resources (HR) and recruitment space, it’s evident that hiring trends in 2023 are also getting on board with AI.
Today, more companies are integrating AI-driven solutions to streamline their talent acquisition efforts. AI-powered tools can analyze vast amounts of candidate data, screen resumes, communicate with people, and even predict candidate success based on historical data. To illustrate, the program Fetcher, “automates candidate sourcing and outreach, giving you more bandwidth to focus on the human side of recruiting.”
Using AI in hiring not only saves time and resources but also helps reduce bias in the selection process, leading to more inclusive and diverse teams. Nonetheless, staffing agencies must be sure to balance AI with the insight and intuition of skilled recruiters.
The Candidate Experience
Due largely to the residual pressures of COVID-19, the candidate experience has become an increasingly important part of effective recruiting in 2023. Organizations are realizing that a positive work environment, opportunities for growth, and a strong company culture are crucial for attracting and retaining top talent.
Employers have begun promoting work-life balance, as well as offering personalized benefits to enhance employee satisfaction. At M&F Talent, we can’t emphasize enough how important it is to respect candidates’ time during the recruitment and interview process – including timely follow-ups and feedback.
Once on the job, we also recommend using performance management systems that help employees understand their strengths, as well as areas for improvement. By prioritizing the candidate experience, companies can build a motivated and loyal workforce that contributes to the organization’s overall success.
Diversity, Equity, and Inclusion (DEI)
The importance of diversity, equity, and inclusion in the workplace has been gaining momentum over the past years. In 2023, DEI is a critical component used to attract top talent based on the alignment of values between employee and employer. Companies are proactively implementing strategies to increase diversity across all levels of their organizations.
When it comes time to recruit, many hiring parties clearly explain their DEI initiatives as part of the interview process. In doing so, they can more easily tap into a younger talent pool that puts a real emphasis on equality in the workplace.
To promote DEI, employers are reevaluating their job descriptions to ensure they are inclusive and free from biased language. They are also expanding their recruiting efforts to reach underrepresented communities, implementing unconscious bias training for hiring managers, and establishing employee resource groups to foster more inclusive environments.
Summary: Hiring Trends in 2023
It can’t be denied that hiring trends in 2023 are witnessing a dynamic shift. While we are clearly still in the shadow of COVID-19, many are beginning to realize that changes implemented in the pandemic are here to stay. Moreover, new technological innovations like AI are beginning to upend the way that the business world operates – in fields as diverse as marketing and recruiting. To stay ahead in this unique job market, organizations must adapt to the hiring trends of 2023 and revamp their talent acquisition strategies accordingly.
Contact M&F Talent Today!
As one of the leading recruiting services in the CEA, hydroponics, and food manufacturing industries, M&F Talent has seen firsthand how hiring trends in 2023 are changing. Contact us to discuss your hiring or job search needs in more detail!