Introduction
The latest study shows that digital futures are changing talent acquisition trends rapidly. Technologies are playing an integral role in the hiring process. Zippia reports that almost 97% of business owners plan to add more investment in hiring technologies by 2025. A study shows that 68% of employers noted that investing in talent acquisition technologies significantly enhances the performance of the company in just five years.
These figures prove that digital transformation is bringing a change in the talent acquisition process and companies who don’t invest in it may face failure later.
Recruiters who use AI technology in their hiring process admit that they face a significant change in the way technology manages the whole talent acquisition process. If you are looking to make a recruiting plan for 2024, then you must already be aware of AI hiring technology. AI is becoming a part of every small task in the hiring process. 92% of hiring managers claim that they are thinking of using AI in the hiring process.
Companies that make HR technology are advancing their products so that they can meet the new demands of employers. You will see a big change in the way AI transforms the HR tasks.
Technology is affecting the talent acquisition trend rapidly. However, there are still other factors that are affecting and setting the trends.
Top Talent Acquisition Trends in 2024
Following are some talent acquisition trends that companies must follow in 2024.
- Recruitment Marketing
Recruitment marketing significantly helps business owners or employers to promote the values of their company. It literally means that you present yourself in front of people as a product that effectively works. There are several recruitment marketing ideas and strategies available. Some of them include:
- Social Media Recruiting
- Recruitment Marketing Through Email
- Analyzing HR statistics and analytics
- Nurturing and building employer branding.
Alone, social media recruitment is a vast niche of recruitment marketing. The trend of social media talent acquisition evolves because today’s generation first goes to social media to buy products or research topics using search engines, social media, and online blogs.
Your main goal is to market yourself and your brand in front of people like any other regular product to find a talented and qualified candidate who is actively looking for a job.
Many big companies experience remarkable results through this new trend of talent acquisition. One of the main examples is EastJet, which is a group of British airlines. The company found out through a study that almost 78% of parents who are 45 and above are looking for new challenges and jobs to make themselves busy when their children aren’t at home. They took advantage of this data and created a recruiting campaign especially targeting older people.
After this campaign, since 2018, the firm has experienced a 27% increase in the members of cabin crew that are more than 45 years old.
- Recruiting Automation
When a company posts a job ad, it receives multiple job applications and sometimes it goes above 1000, so it is hard to manage it all alone manually.
This is where recruitment automation steps in. It is a computer software that automates various types of HR tasks, specially designed to help recruiting managers save both time and manpower. Some of the tasks include:
- Scheduling interviews
- Sorting and sourcing candidates
- Sending out follow-ups, documents, and replies
- Shortlisting and finalizing candidates
The number of job applicants keeps rising because of various factors like skill-based hiring and global recruitment. These factors highly affect people to apply for jobs based on their skills rather than their degree.
Automation makes the whole recruiting process much easier and faster. It is easy to sort out candidates, choose the best that suits your company best, and gracefully reject others. This ultimately improves your recruiting system and the experience of candidates.
Well, you must be wondering on which level an automated recruiting system affects your hiring process. A European organization, Revolut, seems to speed up its hiring time by up to 40%. The company needs candidates with proficiency in different languages. Manual language evaluation takes time, which leads to longer interviews and extends the whole hiring process. But after incorporating with a reputable language testing company, it evaluates the candidates in much less time which gives employers extra time to overview other matters.
- Scrutiny Of AI
Artificial Intelligence or you can AI is becoming an inseparable part of businesses. Most UK brands believe that Artificial Intelligence offers a valuable asset to let go of some recruitment stress and pressure. However, hiring is quite a responsible and tough task to accomplish. You can’t just rely on AI to hire a candidate for you. Sometimes unwanted biased decisions may lead to ungrateful results.
Automation does help in finding the top and qualified candidates and boosts the whole recruitment system, but it is believed that automated software systems do not choose candidates neutrally. This is because AI depends on the information that humans install into them, which directly affects the results. The lack of a versatile recruiting team and long testing implies that the learning model of AI malfunction and make decisions by being biased.
Amazon has removed its AI recruiting model from the company because the model reviews resumes based on resumes submitted in the last 10 years. As mostly resumes were of men, which resulted in hiring more men, and this resulted in a gender gap in the company.
AI has gained immense popularity in the last year, and it seems to grow in 2024 more. However, the only thing that employers must learn for 2024 is that Automation does not always bring the best solution and it must be incorporated after careful consideration.
The research of Cpl’s Talent Evolution Groups proves that almost 71% of C-suite and 81% of hiring managers faced discrimination problems due to automated recruiting processes.
There is no debate in proving that minorities and women have much more talent and they can fit in every role of industry. Whereas, AI raises a vast gap in making biased decisions. So, employers must take extra caution while considering the AI hiring process.
- Engaging With Employees
Social media and its review culture have become an integral part of the brand’s management. Employees and candidates who do not feel comfortable use social media like TikTok and Instagram to post negative comments about the company. This will directly impact the reputation and image of the brand. Almost 84% of candidates apply for jobs after going through the reviews and feedback of other employees and candidates.
Dealing with negative comments and prioritizing employee and candidate experience is vital for preventing bad reviews and compromising the hiring process.
According to the research of Talent Evolution Group of Cpl shows that employers have not done anything to understand why previous employees leave their jobs.
Almost 55% of people report that their company has never asked them to do any quitting interviews. 38% of employees claim that companies haven’t asked about their feedback when they resign from their jobs.
An active meeting and honest review from former employees help you understand where you or your company’s value lacks and how you can bring change and satisfy your current and future employees
- Resigners’ Re-enter The Workforce
The Great Resignation had started since the pandemic and several people have been still quitting their jobs. But the era of Great Resignation had officially ended in the middle of 2023. High inflation and bad economic conditions have forced many people to reconsider their resignation. These factors also encouraged people to keep working who were probably thinking of quitting.
This means that most quitters from the Great Resignation era will start looking for jobs in the coming year and employers must make some recruitment strategies to target them. They need to offer reentry programs that help quitters to come back to work without regretting.
- Remote Work
People had to leave their work, office, and careers due to the pandemic. Most of the employees work from home. After working more than a year from home, they started to like this working method more as compared to in-person jobs. So, now most employees do not want to go back to their full-time working routine. 98% of freelancers wish to work from home.
Companies understand that they can’t permit all employees to work remotely. This has created a dispute between employees and employers as both want opposite things.
Companies can take advantage of offering job benefits along with flexible working hours. Whereas, making some jobs fully remote eases the recruiting difficulty.
- Talent Strategies and Freelance Labor
Freelancing has become an integral and valuable asset for companies. Most companies are hiring only full-time freelancers for special roles, whereas, some firms hire candidates on a freelance contract and wait whether the employee is good enough to be hired full-time.
The freelance industry will continue to grow more in the coming years, as most people tend towards self-employment business systems with some side hustles. Latam Recruit helps your company to hire remote workers all around the globe on a contract basis.
- Healthcare and Leisure
Job openings in many fields decrease a lot but healthcare and wellness still have a big list of job posts. In the medical sector, the employment rate increases ⅓% of the total, particularly in 2023. According to the statistics, the job roles in healthcare facilities will increase by up to 31% and jobs in leisure industries like parks will rise to 38% by 2031.
However, this news does not seem happy news to employers who have already been facing many hiring challenges in this field for years.
Employers, especially in the healthcare and leisure industry, must learn to adopt technology in the recruiting process so that they can better manage all the candidates and choose the one that suits their needs perfectly.
- Remote Recruiting
Recruiters have started to accept the benefits remote hiring gives to them. It significantly helps you find the best possible talent around the globe which saves you so much time and effort in selecting, interviewing, and hiring in-person candidates.
Almost 77% of employers consider in-person interviews much more effective, while 61% think video interviews serve as a default interview in moving forward to the next step. Companies are successfully onboard candidates without making them visit the headquarters in real life. The percentage of such hiring ranges between 25-50%.
- Quality Of the Candidates
More than 52% of recruiters believe that their main aim is to target high-quality candidates. Employers are looking for talent but not just talent. They are looking for quality talent. This leads to higher rates of retention, which helps companies to save money.
- Mental Health
Though it’s been a while, the pandemic has left us all with mental health issues. After this, it became a thing among people to look for companies that offer mental health benefits with the job. Around 50% of recruiters experience that candidates frequently ask more about mental wellness benefits after COVID-19.
It is important to note that not only do candidates feel that way, but employers also report increased stress after the pandemic hit. Almost 20% of recruiters feel a rapid increase in their stress level, while 60% experience a lower stress level.
Achieve Talent Acquisition Trends with Latam Recruit
New technologies and social media trends are changing the way of recruiting. As this trend keeps rising, this shows that it won’t stop in 2024 but it will become more dominant. So if you are looking to keep pace with the 2024 trend of recruiting, then hire our Latam Recruit team of expert and dedicated professionals who keep your needs ahead. Latam Recruit helps in finding and recruiting a top candidate that suits your job needs and the company’s value. We do not just help in recruiting but we ensure to make your whole hiring process much more efficient.
