July 26, 2023
5 Talent Acquisition Trends to Watch in 2023
As a recruiting intelligence and analytics firm, we’re always keeping an ear to the ground in the world of Talent Acquisition. At our 2023 Experienced Recruiting Council Annual Members Meeting, our CEO, Carter Bradley, walked our members through some of the top Talent Acquisition trends that we’ve seen (and expect to see continue) in 2023.
1) Embracing the Power of Data
Data is taking center stage in Talent Acquisition, and organizations of all sizes and industries are recognizing the value of incorporating it into their recruitment processes. Whether it’s integrated into intake meetings, conversations with hiring managers, or stakeholder engagements, leveraging data has become a top priority.
One of the key ways that TA leaders are using data is anchoring leaders in recruiting realities; data helps TA teams set realistic expectations and provides insight into what’s actually possible to accomplish in this competitive landscape. But it’s also being used to make compelling cases for additional spending by showcasing industry benchmarks and the potential benefits of increased investment. Moreover, data empowers teams to demonstrate the return on investment (ROI) of their efforts once they’ve secured investment from the business.
There’s also the additional benefit of positioning recruiting teams as trusted advisors to the business who provide valuable insights to drive informed decision-making.
2) Expanding the Definition of Talent
In response to the increasingly competitive recruiting market, companies are reconsidering how they think about talent and who they’re targeting in their recruitment efforts. Instead of relying solely on traditional factors like formal education and industry experience, organizations are shifting towards a more comprehensive view of talent.
This isn’t particularly unusual – in times of economic contraction, companies have been known to expand their talent pool. However, this evolution is also driven by years of increased focus on skills-based hiring, applied experience, and future potential. Companies are recognizing the value of diverse skill sets and considering candidates who can bring new perspectives to the table.
3) Evolving DEI Strategies
DEI strategies are undergoing a transformation. Many companies have invested in concerted actions like diversity partnerships, blind resume reviews, and standardized interview guides to drive DEI efforts. While these actions can yield positive outcomes, there is a growing recognition of the need to challenge limiting mindsets and integrate DEI into a company’s DNA.
For example, instead of perceiving a lack of qualified diverse candidates, organizations with an evolved mindset acknowledge the systemic exclusion faced by marginalized groups. Winning organizations are increasingly focused on changing actions and changing paradigms.
4) Engaging Gen Z Talent
According to projections, by 2025, Gen Z will outnumber Baby Boomers in the U.S. workforce, and many companies understand the need to adapt their Talent Acquisition strategies to resonate with this emerging talent pool.
Gen Z brings unique values and expectations, demanding a fresh approach to attract and retain them. To effectively engage with Gen Z, recruiting teams must craft employer branding and messaging that appeals to this new generation.
5) Prioritizing Internal Mobility
In times of economic uncertainty, internal mobility often becomes a key focus for Talent Acquisition teams. In a recent employer benchmarking survey, 59% of TA teams indicated that they would increase efforts toward internal mobility in the event of a recession.
With the anticipation of potential economic contractions, companies are recognizing the benefits of facilitating internal career growth and development opportunities for their employees. 93% of teams have identified retention as a crucial goal in their internal hiring strategy. But the benefits of internal mobility go beyond contributing to longer employee tenure and higher retention – it can also help organizations fill skills gaps, move talent to other roles that are a better fit for them and the company, and it promises quicker employee upstart, since current employees are already familiar with the organization.
As Talent Acquisition leaders navigate the evolving landscape of 2023, they’re reconsidering the kind of talent that they’re bringing in, dropping formal requirements, revamping DEI strategies, and homing in on the next generation of talent. They’re also heavily focused on retention. And, across every stage of the recruitment process, Talent Acquisition leaders are leveraging data to advocate for investment in their teams. Keeping up with how other organizations are leveraging these strategies can help you stay ahead of the curve.