Helpful Job Resource Blog

With 2023 marking the start of a new decade and an impending economic recession–employers are becoming increasingly focused on changing their hiring practices. Proactive companies are already doing their research on the latest hiring trends and preparing to embrace these changes.

Here are some trends that you can expect to see as you look out for prospective hires in 2023.

Culture Above Compensation

In today's corporate world, where a company’s reputation depends on transparency and accountability—these characteristics have become key business components.

According to Gartner’s Emerging Risks Survey of 2019, the shortage of talented candidates has become the topmost emerging risk for companies worldwide. Sixty-three percent of the senior executives surveyed for the study agreed that the talent risk surpassed the risk of “privacy regulations” and “cloud computing”—the two biggest risks for businesses before the last quarter of 2018.

In the previous decade, employee engagement was just considered a fluffy addition to the company. However, organizations will have to direct their efforts to provide a better experience to their employees via an ideal organizational culture.

The concept of culture above pay will particularly help recruiters in attracting talented millennials and Generation Z candidates. Though monetary benefits remain a powerful motivator for candidates searching for jobs and accepting offers, a recent survey by Glassdoor revealed surprising results. The study found that over 50 percent of the respondents would prefer working in an organization with a better culture than better compensation.

Business Tycoons Are Prioritizing Skills Over Degrees

If your job advertisement mentions anything like “Masters in Business Administration Required Only”—drop it. Netflix, Apple, Amazon, and Google have let go of their typical degree requirements, and other companies are following their steps.

According to Kelli Jordan, the director of career and skills at IBM, they are no longer asking for degrees for the majority of positions–however, that doesn't mean that they are compromising on their standards.

IBM is administering specially designed assessments that test the skills of candidates specific to the positions they are applying for. Testing skills will optimize business operations, boost profits, and eliminate the risk of biased and subjective hiring. However, companies planning to bid farewell to degree requirements need to incorporate high-tech solutions to facilitate skills testing in their hiring process.

Inclusivity and Diversification

Over the past few years, the debate around diversification and inclusivity in workplaces has gotten quite intense. Company heads are focusing on cultivating inclusive organizational cultures now more than they ever have.

According to a PwC survey report, 76 percent of the board directors agreed that diversity boosts the company's performance. This viewpoint was further enforced by CEOs of 800 companies who pledged to support more inclusive organizations and workplace diversity.

These trends covered only a small portion of the influential innovations that will impact hiring in 2020 and beyond. Even so, they represent why companies should always leave room for change and big ideas to grow. If you’re looking for a trusted disaster restoration staffing company, sign up for employer services today!

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