Top Hiring Trends in 2022
Even before the pandemic, there were visible changes seen in the way businesses sourced and hired their talent, and it has only accelerated with the advent of Covid-19. The traditional ways of hiring and doing business have entirely changed today. New skillsets are highly in demand and work from home has paved its way towards becoming the new normal.
According to LinkedIn’s analysis of work trends in 15 countries, the most in-demand jobs can be done remotely.
And a World Economic Forum’s reports state that 84% of employers plan to expand remote working.
Although it can rightly be said that there hasn’t been a lot of changes in the way hiring was done in 2021 and the way it’s predicted to take place this year, we still need to touch upon things that were only speculated to occur in 2021 but are definitely here to stay. So, let’s have a look at the 5 top hiring trends in 2022.
1. Diversity, Equity & Inclusion In Hiring Is A Must-Have Now.
Employees are becoming aware of the social issues and the social conditions that may affect them and as a result, they align themselves with companies that are completely transparent and supportive of DE&I policy and commitment.
McKinsey’s Diversity Wins report clearly indicates that the more diversity, the more profitability. Companies in the top-mark for ethnic/cultural diversity on the executive level were 33% more likely to have industry-leading profitability. Similarly, companies in the top-mark for gender diversity on the executive level were 21% more likely to outperform on profitability.
Although the hiring of diverse candidates should not be an issue, few companies still struggle in doing so. But while it may need difficult and sometimes uncomfortable conversations in the short term, it’s a long-term investment towards generating innovative outcomes for your company.
2. Remote Hiring Is Here To Stay.
The pandemic did tell us that there wasn’t any need to schlep into the office, wasting approximately three hours of your day which you could have saved and spent with your family instead. In addition to Covid-19, we have had Delta variant and now Omicron. This has made businesses scrape their returning to work plans. It’s quite obvious that people will not want to get crowded. People have in fact gone on record to say that they will quit if made to stop working from home. Now with the advent of Omicron, it’s quite certain that remote will surely become permanent.
Remote teams allow organizations to source talent from a broader global pool without location being a limitation. It gives employers more options to look for the right talent beyond the city, state, or country. Remote working has resulted in better output and efficiency in employees. The advantages for businesses are well recorded, but for recruiters, the advantages aren’t less. Remote recruitment designed across video interviews and digital feedback collection results in more structured and faster time-to-hire. Scheduling the interview and going about the same becomes much easier and less expensive as there is no traveling involved.
In fact, 74% of organizations in the APAC region have declared that they would continue with hiring virtually in the post-Covid world as well.
3. More Diverse Skill Set.
Remote hiring lets employers build a workforce that varies in gender, sexual identity, race, ethnicity, and ability. With such a diverse workforce comes a diverse range of skill sets that are required by businesses today.
Despite the upward hiring trends of 2021, 87% of employers say they struggle to fill positions due to a skills gap. In such a scenario, employing from a varied range and training and upskilling employees would significantly help bridge the skill gap and provide employees with meaningful new career and growth opportunities. With such benefits, it’s difficult to argue against remote hiring capabilities.
4. Employer Branding Will Be Crucial This Year.
With the demand that has outpassed supply, employer branding which was of significance pre-pandemic era as well has become a more crucial recruiting and retention strategy this year. In such a tight job market, with almost no end in sight businesses will have to brand themselves as a great place to work too.
The more a candidate knows about your company, its mission, culture, people, and purpose – the more likely they are to apply for a job your offer. According to statistics, a strong employer brand can witness a 50% reduction in cost per hire. Having said that, the efforts shouldn’t freeze at the exit interview. A company’s vision, purpose, and culture must extend further in order to ensure that its employees are their ambassadors for life.
5. A Rise In On-Demand Hiring.
With remote hiring becoming a norm, the idea of an on-demand workforce is becoming increasingly popular among businesses today. According to research done by McKinsey Global Institute, around 162 million people in the US and the EU are gig workers, which is around 20-30% of the workforce.
The advantages of hiring from an on-demand workforce can be many. Businesses can undertake one-off tasks and projects with ease and flexibility if given access to highly skilled gig workers. Such hiring allows companies to tap into skills they don’t have internally.