Attracting talent and attracting top talent are two different considerations.
“Top talent” is a fairly nuanced term with different meanings depending on the organization. It doesn’t just speak to the skills and disposition of a candidate but also the ability to learn/improve over time and integrate into an organization’s culture. “Top talent” is variable and, as a term, can be replaced with: “people that suit your organization well.”
As we will discuss, a resume is becoming a smaller piece of the hiring puzzle for many organizations. The current employment landscape is changing, and hiring is more a game of chess than ever. To be candid, some companies are winning, and many are losing.
Here are some hiring trends that embrace the spirit of the phrase “when in Rome.” These are trends that successful companies are embracing and building strategy around.
1. DEI: A Very Important Acronym
The growing focus on fostering an equitable, diverse, and inclusive work environment will undoubtedly shape hiring decisions in a big way moving forward. Policies, technologies, and even legislation are increasingly influenced by an inclusive mindset. Some businesses, when soliciting a product or service from another company, carry a preference for more diverse organizations. We are beginning to see advantages, perhaps even biases, toward businesses with a diverse workforce.
For these reasons, the letters DEI will be important for hiring managers in 2024 and beyond.
2. Global and Remote Talent
Over 40 percent of current employees in the U.S. either work entirely remotely or in a hybrid model.
The fact this number is slowly approaching the majority means employee expectations are changing.
Is your business model able to accommodate work-from-home staff? Many job seekers (who qualify as “top talent”) are seeking remote options. Of course, this will not always be possible given the position, but the vast majority of job duties can now be performed remotely.
There is also a growing trend of global hires. “Top talent” can be found anywhere, and many employers are exploring both domestic and international hiring options.
3. Leveraging AI in Hiring
AI in hiring can come in many forms.
Resume sorting enables companies to disqualify candidates who do not meet broad requirements from the outset.
AI is also improving the way candidates are screened, helping employers gain better insights, not only into a candidate’s criminal past but also into their character.
Lastly, AI helps employers eliminate biases in their processes, which leads to better success in the long run.
Talent acquisition technologies are improving and evolving rapidly. Stay abreast of the latest capabilities and consider leveraging them for better hiring success.
4. Skills and Talents Over List Items on a Resume
A survey by LinkedIn outlined an important emerging trend: skills-based hiring has become the preferred method. Data shows that 69% of professionals think verified skills are more important than a college degree.
Traditional qualifications are no longer the sole criteria for hiring, and hiring managers seek insights far beyond a list of qualifications and accomplishments on paper.
Skills-based hiring relies on clever and deliberate interview strategies, comprehensive background screening, and an evaluation of experience/performance. A decades-long statement of tenure performing a task or trade does not always mean superior aptitude.
5. Continuous Monitoring and Workplace Safety
Employees and employers want a safe workplace.
While safety in the workplace can’t always be guaranteed, risk can certainly be mitigated. Employers are beginning to increase their focus on post-hire measures that better ensure productivity and organizational health. Such measures include regular interviews, improved metric tracking, continuous criminal monitoring, random drug screening, frequent policy updates, and more.
As a company’s most important asset, employees are attracting more and more focus, especially when safety is involved.
Takeaways
The hiring arena is very dynamic. Checklists, pre-reqs, and intuition should not be the only basis of a decision. By embracing diversity, leveraging technology, prioritizing skills, and emphasizing workplace safety/employment monitoring, employers can confidently navigate the future of hiring, ensuring they attract the brand of “top talent” that best suits their goals and needs.
For more information, reach out to us.
