Here we are, at the beginning of 2022. We have seen so many changes in the past year, both for better and for worse. The global recruiting trends are amongst the tidal wave of change. At the eye of the storm that is taking us to the new frontier and as the new year begins, one fact remains unchanged- Recruiting is one of the critical infrastructures of organizations around the globe.
Current Global Acquisition
In the past couple of years, the global pandemic has stimulated the rise of digitalization. This new wave of change has touched upon almost every aspect of businesses around the world. Companies have embraced the latest innovation as part of their systems to optimize their businesses, as they are marching towards the future. Affected by the new change is recruitment. Many organizations have developed their ways of acquiring new talents while the new global hiring trends emerge.
To help you manage change and stay on top of the talent acquisition trends in the ever-evolving world, here is the list of 10 global acquisition trends to keep an eye on in 2022.
List of 10 Global talent Acquisition Trends in 2022
1. Flexibility Is the Main Drive in Staff Acquisition and Retention
Since COVID-19 has arrived, we have been facing many challenges, one of which is restrictions that are forcing us to work remotely from our homes. As the whole world is adjusting to the ‘New Normal,’ work from home has become something that we are used to.
According to a research from LinkedIn, 87% of employees prefer to remain working remotely even though it is safe to return to their offices in some parts of the world. This has led 81% of executives to change their companies’ workplace policies and offer more flexibility to the staff.
When it comes to global hiring trends amidst the unprecedented challenge, flexibility is now one of the main factors that attract new talents. At the same time, it is also an important element in keeping the existing workforce satisfied with their jobs. To candidates, a flexible workplace is one of the top considerations when they are looking for new jobs.
2. It’s Not Just About Degrees and Diplomas Anymore
Degrees, diplomas, certificates, or past experience don’t seem to be the main consideration for recruitment anymore. Research has shown that from 2019 to now, managers hired who do not possess a traditional university degree are constantly increasing. Continuing forward, it is likely that the emerging trends in talent acquisition like this are here to stay.
The time has changed so did the main factors in recruiting talents. Focusing more on skills rather than traditional requirements like degrees or certificates will help employers bring in new perspectives into their companies and diversify the workforce.
3. Advanced Technologies & Innovations Are Now One of the Essential Parts
Like the ever-evolving global recruiting trends, we have always been developing technologies and innovations to help us work more efficiently since the industrial revolution. As we move toward the digital edge, AI technology has advanced itself enough to become a very powerful tool for recruitment professionals. In a competitive recruiting market, time is of the essence.
For example, an applicant Tracking System like Manatal is able to handle time-consuming tasks, like scoring candidates, managing candidates’ information, screening them, and shortlisting the best candidates, allowing recruiters to put their time and efforts into other important tasks.
4. The Rise of ‘Gig Economy’
The global pandemic has given birth to many new and standout work economies, one of them being the ‘gig economy.’ It mainly focuses on freelancing or part-time work instead of full-time or permanent contact work. A gig worker is able to work from anywhere in the world within the internet range, of course.
The gig economy offers absolute flexibility to both employers and workers. Considering the current talent acquisition trends, many businesses will certainly be looking for a specialist for a specific project that can be carried through remotely more often. This new kind of work economy will surely receive popularity in the near future.
5. ‘DEI’ Will be the Center of Workplace Culture
We are living in the Great Reshuffle era. Employees nowadays desire to exercise their skills for organizations that are offering work cultures that align with their values. Moreover, most job seekers today are expecting to find Diversity, Equity, and Inclusion or DEI information on companies’ public channels.
Therefore, as employers or companies, showing your commitment to equity and keeping up with these global recruiting trends must be on top of your priority list. Integrating DEI into your company’s core will reduce the bias in the candidates’ screening process while offering more inclusive benefits to the supporting employee resource groups (ERGs.)
6. Internal Mobility Will Become Crucial in Talent Acquisition
Internal mobility programs will become an important component in the current global talent acquisition trends and recruitment strategies. By offering candidates a chance to learn and develop, as well as an opportunity to switch their career paths will attract quality talents and boost your retention percentage.
Employees and candidates today have the drive to continue learning and progressing in their careers. LinkedIn’s 2019 Workplace Report pointed out that if a company invests in its staff’s learning and development, over 94% of employees would remain at a company longer.
7. Caring Will Help You Attract More Talents
Data from LinkedIn reveals that employees who feel cared about at work are 3.2 times more likely to be happy to work for their current companies and more likely to recommend people to work for their companies.
On the other hand, at companies that have failed to establish a caring work environment, employees are almost 50% more likely to leave their positions and apply for a new job. This shows that in order to attract talents, retain existing employees, and keep up with the evolved global hiring trends, you need to adjust your management strategy and care a little bit more about your staff.
8. The Emergence of Employer Branding
As the talent acquisition trends are in a constant state of flux, the recruiting market has gotten more competitive, establishing a good reputation as an employer is one of the keys to attracting the best talents. The better your brand image, the higher in quality of applicants you will receive.
According to LinkedIn’s Ultimate List of Employer Brand Statistics, over 75% of job seekers are researching companies’ brands and reputations before applying for the job. On the other side, businesses and organizations with a bad reputation or brand image are likely to find trouble in attracting talents and retaining existing employees. Based on an online survey, over 50% of people would not work for a company with a bad reputation even if they are being offered a higher salary.
9. Companies Will Be Prioritizing Entry-Level Talents
In times like these, grabbing highly experienced or skilled individuals as new additions to your company might be a bit hard. Rather, prioritizing entry-level employees while the global hiring trends are shifting can help you speed up the recruitment time while reducing recruitment costs. It’s also a good way of counteracting the talent shortage issue.
Based on information from the Open University Business Barometer 2021, more companies are prioritizing entry-level talents. 56% of employers in the United Kingdom look at apprenticeships and work-based learning as crucial foundations that the future of their organizations can be built upon.
To orchestrate an efficient entry-level talent program as the new talent acquisition trends are emerging, you must invest in staff learning and development, as these graduates, interns or apprentices do not have much working knowledge or experience.
10. More Companies Will Offer Sign-On Bonuses to Attract More Candidates
In the past, sign-on bonuses used to be exclusively for highly skilled or niche positions. Now, due to the competitive talent market which is a result of evolving global hiring trends, companies use sign-on bonuses to attract candidates in every role and position. According to GlobalData’s research, the amount of positions that are offering this benefit has increased by 454% in the past year.
To companies, sign-on bonuses come with pros and cons. Providing your employees with sign-on bonuses reduces your long-term financial responsibility because they are a one-off payment. However, in the second year, you might be at risk of losing employees if they no longer feel fairly compensated.
The verdict is, sign-on bonuses may have the short-term benefit as it helps attract candidates to choose your company over other offers, however, to be on top of the global recruiting trends, you must commit to upholding an engaging work culture in order to retain employees.