As we settle into 2023, it's important for employers and human resources professionals to stay informed about the world of hiring and employment. Learn about the top hiring trends impacting 2023.
The world of hiring and recruiting is constantly evolving, and staying ahead of the curve can give employers a competitive edge in attracting and retaining top talent.
Ongoing threats of an economic downturn pose new challenges for employers this time around.
Read on to learn about the current market conditions and the trends shaping employment and hiring this year.
Current Market Conditions
- Interest rates are on the rise
- Job security threats have increased concerns about mental health
- The State of Flexible Work: 40% are in the office full-time; 32% are remote; 28% are hybrid
- Many big companies, particularly in tech, have announced hiring freezes and layoffs
- Economic uncertainty has slowed the candidate market, although it's still considered a tight market
Top Hiring Trends of 2023
Hybrid Models are Here to Stay
The ability to work from home has become a defining feature of the post-pandemic era, and many companies have realized the benefits of implementing hybrid work models, such as increased employee happiness. In fact, studies suggest hybrid employees are 22% happier than full-time onsite workers.
The residual effects of employee happiness are near endless. Happy employees are often more productive, willing to go beyond expectations, and generally healthier. As a result of the many benefits, we expect to see companies maintain hybrid work models from here on out.
Consider the following: 57% of employees want the ability to work from home. With workplace flexibility now a critical factor in a company's hiring package, consider offering options that work for your business.
Offering flexible solutions may not be conducive to all work environments. Evaluate your business and consider offering flexible solutions that work for you.
The Rise of Mission Creep for HR Professionals
What is mission creep? Mission creep is the unexpected broadening of duties of an original role.
A tight labor market and financial constraints have led workers, especially human resources professionals, to become well-acquainted with this phenomenon - and it comes with some serious downsides.
Common side effects of HR mission creep:
- Human capital resources become stretched too thin
- Employees are redirected from their core job duties
- Burnout from requiring already overextended employees to take on extra responsibilities
Consider the following: When employees are asked to take on duties outside of their job description, be sure to compensate accordingly. Consider offloading time-consuming work, like hiring efforts, to a staffing agency.
Greater Focus on the Employee Experience
Companies are recognizing that a positive employee experience can lead to increased engagement, retention, and productivity.
As a result, organizations are placing a greater emphasis on creating an experience that puts the employee first.
This includes fostering a positive environment of support and inclusivity, where management is willing to listen to and meet their employees' individual needs. Workers are looking for companies that prioritize their employees' mental, physical, and emotional well-being, and whose values are aligned with theirs.
Consider the following: A McKinsey survey found that managers tend to overvalue the importance of transactionalfactors such as pay and development and underrate relational elements that employees value most, such as feeling appreciated, the companionship of trusting teammates, and a flexible work schedule.
Quiet Quitting
Contrary to what the name suggests, quiet quitting is not about quitting a job, rather, it's about quitting the idea of going the extra mile. Quiet quitters are those who are mentally detached at work and therefore deliver the minimum required for their role.
There are several reasons why workers may quiet quit, including a lack of mental stimulation in their role or even a lack of appreciation. Although, more often than not, quiet quitting is a symptom of poor management.
Managers themselves must be engaged at work and learn how to have conversations with employees to maintain engagement and boost morale.
Consider the following: The best way to reengage employees is to have at least one meaningful conversation per week. Consider holding a 15- to 30-minute weekly one-on-one meeting with each team member.
As a human resources and staffing expert, it is crucial to stay informed about the latest hiring trends to attract and retain the best talent. By understanding the employment and hiring landscape, you can make strategic decisions and stay ahead of the curve in the ever-evolving world of recruiting.
Are you interested in learning more about the future of the employment landscape? Take a look at the Top 10 Hiring Trends of 2023 here.