It’s the most unusual talent acquisition time in many years. Let’s all face the reality – recruiting has gotten weird. Hiring surges. Reductions in force. Salary Increases. Ghosting. Candidate expectations. You name it; it’s happening.
Jobvite’s survey of over 800 recruiters illustrates the challenges recruiters are attempting to overcome:
- 59% of recruiters said their organizations have experienced increased turnover since the onset of the pandemic in 2020
- 49% of workers reported that job seekers are inquiring about the company’s DE&I initiatives, an increase in 16 percentage points from 2020
- Recruiters shared that medical/dental coverage (51%), 401(k) (49%), and work from home flexibility (44%) have all been effective benefits in attracting new candidates
- 73% of recruiters are seeing candidates ask about negotiating higher salaries. This is up 20% from 2020.
Last month we released our semi-annual salary survey. If you haven’t requested it yet, here is how you can receive a copy of the report.
Email us today at FinancialSalarySurvey@caseyresources.com, and we will be happy to share this with you. In the “YOUR MESSAGE” section, please enter “2022 Accounting & Finance Salary Survey”.
Jobvite also took a pulse on the toll this strange talent acquisition landscape has taken on recruiters:
- 65% of recruiters reported that their stress levels have increased since the onset of the pandemic, pressured to fill roles quickly with qualified talent that is in short supply and being wooed by many other companies.
- Current hurdles in recruiting include a lack of qualified candidates (47%), employer competition (40%), and requirements for in-office work (33%).
“Things have been changing so quickly, and we’re finding that recruiters are becoming more adaptable to labor market trends,” said Kerry Gilliam, vice president of marketing at Jobvite.
“Recruiters are short-staffed themselves, and yet they are having to hire more than before amid a shortage of talent.”
But where there’s great challenge, she said, there’s also great opportunity: “Hiring teams are using more external workers, looking at different sourcing channels and rethinking requirements for roles. If companies can invest in their hiring teams and rethink their employee value proposition, it is a great opportunity.”
Recruiter Mantra for 2022? Continuing to Adapt.
Roy Maurer, SHRM Online Manager/Editor, Talent Acquisition, shared his thoughts “Talent acquisition professionals continue to face recruiting and hiring challenges in the second year of an unprecedented labor market characterized by record-level turnover and job openings, increased stress, and significantly changed candidate expectations.” Maurer concurs with Jobvite’s survey conclusion: agility will be key to being successful. In his article, Maurer offers additional information from Jobvite’s report.
Jobvite states that around 78% of recruiters reported that their priorities have shifted over the past year to:
- Improving quality of hire (48%)
- Improving time-to-hire (28%)
- Increasing retention rate (26%)
- Growing talent pipeline (25%)
- Updating recruiting technology (21%)
- Improving diversity (18%)
What’s a Recruiter to Do? What are the trends in talent acquisition besides more money and more meaningful perks?
At Casey Accounting & Finance Resources, we scoured numerous articles on recruiting and found these five trends mentioned repeatedly:
- Proactive recruiting: rather than wait for job openings, continually look for active and passive candidates who meet job requirements.
- Upskilling and reskilling: invest more time on giving employees professional development opportunities for continued learning.
- Candidate Experience: first impressions are key to keeping candidates engaged. Followed by…
- Employer Branding and Employee Experience: The experiences don’t end once you’ve hired a candidate. Employees want to know that they are working for a great company and feel valued for their contributions. Increase your focus on DE&I.
- Recruiting analytics and AI/Recruiting Automation
Everyone is fishing from the same pond. Your improved recruiting strategies can make all the difference in hiring someone or getting ghosted by them. We have experienced staffing experts, many with decades of experience, at the ready to assist you with your recruiting needs. We’re passionate about finding talent. We’re here to help you make the most of this disruption with the best suite of recruiting strategies for your company. Contact us today.