Top Trends For Jobseekers And The Hiring Market In 2023
It’s been a funny old year in many ways, especially in the world of recruitment. We emerged from the collective haze of Covid-19 and returned once again to ‘normal’ life, only to be hit by fears of a recession and a cost-of-living crisis. The Great Resignation continued its persistent march, and ‘quiet quitting’ became a social media sensation. Although few can predict exactly what’s on the cards for next year, we can certainly make a few educated guesses based on economic circumstances, research, and our own interactions with clients and candidates. So, without further ado, let’s examine some of top trends set to impact the job seeking and hiring market in 2023!
Trend One: The Generational Workforce Shift Will Continue
Previously the largest generation of workers, Baby Boomers are now leaving the workforce in their droves. In the aftermath of the pandemic, many chose to take early retirement, or have since been impacted by sweeping redundancies. With Gen X a comparatively small group, this means that Millennials now make up the largest working cohort – with Gen Z set to account for nearly 30% of the workforce by 2025. Long story short: the hiring market is changing, and employers will need to adapt. This means considering the priorities of each demographic when crafting employer branding and EVP. For example, research shows that Gen Z candidates feel passionate about social justice, corporate responsibility, workplace diversity, inclusion, and climate change. Additionally, both Gen Z and Millennials are seeking to work for a companies that are focused on sustainability and tackling environmental issues. With the talent shortage set to continue into 2023, employers will do well to discover ways to appeal to these demographics.
Trend Two: Career Mobility And Upskilling Will Be A Priority For Jobseekers And Employees
LinkedIn’s 2022 Global Talent Trends report revealed that professional development is a top priority for workers, coming in just above flexible working and mental health support. This could well be the result of shifting job requirements combined with an uncertain job market, both of which have left employees anxious about their next career move and the safety of their current roles. It should come as no surprise, then, that a recent survey from Amazon and Workplace Intelligence found that 74% of employees are willing to leave their current job due to a lack of skill-building and career-mobility options. The message to employers couldn’t be clearer: offering career development and upskilling opportunities should be a priority heading into 2023. Practically, this might mean creating personal development plans for employees, standardising on-the-job training, and subsidising upskilling opportunities such as external qualifications.
Trend Three: Mental Health And Wellbeing Support Will Take Centre Stage
It’s a very sad fact that recent research has indicated employee burnout in the UK has reached record levels. Added to this, the Royal College of Psychiatrists recently warned that the cost-of-living crisis poses a threat to mental health of ‘pandemic proportions’. Aside from the moral obligations, employers who prioritise mental health and wellbeing are more likely to see boosts in productivity, motivation and engagement, as well as increased retention and reduced attrition. How mental health and wellbeing can be prioritised in the workplace will likely differ depending on the organisation, which means it’s well worth asking employees for their input on what would make their lives easier. For example, organisations might consider adopting a four-day working week, subsidising gym memberships, offering a cost-of-living subsidy, adopting an employee assistance programme that includes access to counselling, or offering meditation and yoga sessions.
Trend Four: Hybrid And Remote Working Models Will Continue To Be Optimised
It’s pretty clear that hybrid and remote work is here to stay, with 48% of employees citing this as a priority in the aforementioned LinkedIn report. Yet, 2022 saw a back and forth between traditional-minded executives who want employees back in the office, and workers who want to retain flexibility and work-life balance. This means we’ll likely continue to see compromise as hybrid working models are perfected, and further resources put into making the transition between the two as simple and seamless as possible. Although the shift to remote or hybrid work has proven to be largely beneficial, it has caused some challenges for workers who cite feeling disconnected and undervalued due to a lack of face-to-face interaction. This provides opportunities for managers to find more effective ways of connecting with and engaging remote workers, as well as take advantage of the abundance of technologies that have entered the market specifically to support remote and hybrid workforces.
Trend Five: Equality, Diversity And Inclusion Will Be More Important Than Ever
According to research from Glassdoor, two-thirds of jobseekers say that an employer’s commitment to ED&I is a seriously important factor when considering job offers. Furthermore, we’ve already mentioned that greater numbers of Gen Z are entering the workforce than ever before – a demographic known to value inclusivity and equality. Aside from the difference a commitment to ED&I can make to employees’ wellbeing, research has long shown companies’ bottom lines also benefit from the prioritisation of diverse workforces. There’s an incredible number of initiatives employers can take to promote ED&I within their organisation, from promoting pay equity and transparency, to establishing mentoring programmes and setting up employee resource groups.
Trend Six: The Unstoppable March Of AI And Automation Will Continue
Some love it, some hate it, but we all must accept it. Although the consensus among many experts is that a number of professions will be totally automated in the next five to 10 years, right now, the focus for organisations is mainly that of eliminating repetitive tasks such as back-office processing and data management. Although a significant investment at the outset, in the long-term, this saves organisations serious time and money. Additionally, AI is helping to perform more complex tasks which still require human oversight, such as forecasting demand and sales, and predicting logistics and supply chain challenges. This helps organisations serve clients and customers more efficiently, whilst reducing employee workload. In short, although the robots are here to stay, there’s no need to panic (just yet).
Ultimately, 2023 will challenge organisations to consider the long-term trends for hiring and look beyond the short-term distraction of a potential economic slowdown. Amidst high inflation and cost-of-living concerns, job seekers and employees will want to see companies willing to invest in their professional future through upskilling, as well as in measures that will improve mental health and wellbeing. Organisations will continue to iron out imperfections in hybrid working models and find new ways to connect, and will also need to adjust to the shifting demands of an increasingly younger workforce. Although there’s bound to be challenges and uncertainty afoot, by taking note of prevailing trends and the priorities of employees and job seekers, the best employers can set themselves apart.
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