Human Resources is a highly dynamic field as it is constantly changing due to innovations happening every day. Moreover, corporate experts are now speculating about the HR trends that can be seen in the next few years.
As more and more people are leaving the workplace, employers are busy devising policies and practices to reverse the process and get more people to join their organizations. The Great Resignation has affected nearly every sector of the economy, with Hospitality, Tech, Construction, and Manufacturing the hardest hit. The below infographic shows the industries that are affected by the Great Resignation.
People leaving their jobs is one of the biggest concerns troubling HR managers worldwide. As 2024 edges closer, HR professionals worldwide are looking to solve other issues like employee satisfaction, team morale, skills shortage, and many others.
The Most Popular Talent Acquisition Trends
Here are some of the most popular talent acquisition trends that experts believe we’ll see this year:
1. Focus on Remote Work
The Covid-19 pandemic has ushered in an era of remote working where more and more companies are comfortable with allowing their employees to work from home. The trend is growing in tech companies where workers can do their jobs from anywhere in the world. In addition, the gig economy’s growth has proved to be instrumental in the rise of remote working environments.
A Forbes article indicates that remote work job listings have grown exponentially since 2020. The report says in the pre-COVID era in early 2020, remote jobs occupied only 2% of the total paid jobs listings. In July 2022, the number had risen to more than 17%, suggesting that more firms are inclined to offer remote work.
HR experts believe the trend of remote working will continue in 2023 as many workers have become accustomed to working from home. The prevalence of the hybrid work model is also expected to increase in 2023.
2. Improving Employee Experience
Employee experience and mental health will dominate the HR trends and policies in 2023 as companies will look to reward their workers. Burnout, employee dissatisfaction, and poor work-life balance are widely accepted problems that lead to less productivity and poor employee experience. 2023 HR trends will revolve around improving employees’ overall experience by taking a “People First” approach.
According to a Gartner report, improving the employee experience is the top priority for 47% of HR managers. These professionals will focus on their workers’ mental health and job satisfaction by providing clear career goals and trajectories.
3. HR and Metaverse
Metaverse is a revolutionary innovation based on multiple existing technologies like virtual reality and non-fungible tokens. A metaverse is where individuals and other entities will interact virtually, and experts believe it will hugely affect HR in 2023. A McKinsey survey points out that more than 90% of senior HR executives believe Metaverse will positively impact their business in the next 10 years.
This suggests that many HR activities like recruitment, onboarding, and performance reviews could happen using Metaverse technologies. While most people believe that Metaverse will dramatically impact HR, most experts think it will be a while before a substantial change is seen.
4. Data-Intensive Human Resources
Technologies like Artificial Intelligence, Big Data, and Machine Learning are expected to make tremendous strides in the domain of Human Resources. In order to make educated decisions on employees, HR professionals might apply algorithmic managers and data collection on important indicators.
Algorithmic managers are valuable as a supplement to the complex decision-making done by HR experts and can be an incredible resource for processing vast amounts of data. Algorithmic managers will be able to process a lot of data, speak effectively, and support managers and HR in making better-informed decisions.
5. Managing Talent Shortage
As mentioned above, The Great Resignation is in full effect and its adverse impacts are expected to become more apparent in the coming year. Naturally, the core driving principle of HR policies for most companies will be to rectify this issue and manage the ensuing talent shortage. Moreover, the skills shortage is another problem that HR managers have identified.
Many companies believe that the current labor market cannot fulfill their talent demands as they are seeing massive talent mismatches. This is more visible in technical job roles like data scientist, machine learning engineer, healthcare analyst, Node.js developer and many others.
6. Higher Transparency
Experts believe that 2023 will continue the trend of increasing transparency and accountability in the HR domain. Many corporations, including some big multinational companies, have been accused of being highly opaque in their hiring process and other HR-related activities. Nowadays, the emphasis is on transparency, and firms that are moving away from opaque practices are getting better results.
A more transparent organization will attract more talented people and benefit from a smooth hiring process. Finally, following transparency ultimately helps boost your employer’s brand.
7. More Diversity and Inclusion
Most companies already follow an inclusive policy when it comes to recruiting, as they believe in giving equal opportunities to everyone. People of color, LGBTQ+ people, and marginalized communities are joining the workforce in more significant numbers than ever before.
HR experts believe this trend will continue in 2023, and more corporations will follow inclusive hiring practices to make their organizations more diverse. Diversity, equity, inclusion, and belonging (DEIB) is a prime concern for HR managers in today’s rapidly changing business environment.
Contact BenchPoint today if you want to learn more about the leading HR trends of 2023 and how you can use them in your organization. We are a healthtech recruitment agency and will be happy to help you formulate holistic recruitment strategies.
We have a proven track record of ensuring client satisfaction. If you have any questions, we will be happy to help, and we’ll work with you to develop hiring tactics that are more streamlined and effective.