As global economies recover from the pandemic, it is hard to pinpoint the exact hiring trends for 2022. Many people have tweaked their business models to adjust to the "new normal".
The Future of Work Report 2022 by Monster India, shows that 93% of employers are planning to hire throughout 2022, which is 11% higher than 2021.
A few hiring trends:
Rise in contract staffing
Hiring employees on contract or gig works is a fiscally responsible solution in times of an ever-changing dynamic economy. Contract staffing is a smart option for organisations to receive help with current staffing needs without worrying about future staffing capacity. Contractual workers have proven advantages for both employees and businesses. Employees gain more flexibility and access to work while businesses save money, increase production, and reap the benefits of on-demand hiring.
Increased hiring in IT sector
The pandemic has undoubtedly propelled digital advancement in almost every aspect of the business. With new technologies, the demand of IT professionals with the right skill set & experiences will be high. As the attrition rate in IT firms has been steadily increasing in tandem with the increased need for digital talent, the industry can expect round-the-clock hiring for many tech roles.
Skill based hiring & Upskill
In the coming months, increased emphasis will be placed on relevant skills & domain experience for the vacant positions. With a mix of remote & hybrid work cultures, employers will be looking for candidates that are result-oriented and have exceptional leadership, delegation, analytics, and management skills. Along with it, employers will focus more on upskilling the current employees rather than hiring an utterly raw talent. It can cost five times as much to hire from the outside as it does to develop skills from the inside.
Talent management systems
As the world has shifted gears in the last two years, many companies will now look forward to investing in tested talent management platforms. Applications for recruiting and talent acquisition, on boarding, performance management, learning management, remuneration, and succession management can all be found in talent management companies. As per research published by McKinsey, there is a direct correlation between enhanced organisation performance and robust talent management systems.
Use of recruitment technology
Post the pandemic, many employers are willing to adapt to new technologies for their day-to-day operations, including hiring. Candidates now can be sourced from social media apps, recruiting apps, online job boards, etc. Brands that want to attract tech-savvy, digital-native talent from Generations Y (millennials) and Z (iGen) must meet them on the platforms and digital places where they spend most of their time.
Focus on EVP
Employee value proposition (EVP) is the sum of the rewards and benefits workers receive in exchange for their work performance. As reported by Gartner, organizations that effectively deliver on their EVP can decrease annual employee turnover by just under 70% and increase new hire commitment by nearly 30%. Thus progressive employers are already tweaking their current approach into human-value propositions where employees are treated as assets, not just workers.
Recruiting & retaining the best talents will continue to be a top priority for many companies. The pandemic has presented a unique opportunity for HR leaders to re-think the traditional work ways that can be a win-win for both employees & employers.
(The author is the co-founder and Director of a Talent Management firm)