Forecasting the state of the nation’s economy in 2023 is uncertain. However, it is likely that the competition for skilled workers will persist in this new year. According to the Bureau of Labor Statistics, there are currently 10.3 million job vacancies. Employers also appear optimistic about the future, as a PwC survey revealed that 83% of respondents prioritized business strategy and growth over other goals. Additionally, less than one-third of those surveyed viewed a recession as a significant threat.
As growth and opportunities persist, the challenge of staffing job openings becomes increasingly prevalent. Both corporate and nonprofit leaders frequently express their struggles to find suitable candidates for open positions. It is no surprise that identifying top talent is consistently cited as a major challenge by those responsible for making hiring decisions.
It is understandable that employers have concerns. Candidates currently have more power in the job market and are becoming increasingly selective about the companies they choose to work for. Unlike during the Great Recession, candidates are not solely motivated by salary, but are carefully considering the reputation and values of potential employers. They are looking for companies with a clear mission, opportunities for growth and a culture that values diversity, equity and transparency.
Given the intense competition for skilled workers and the specific desires of job candidates, creating a recruitment strategy for 2023 is crucial. Hiring leaders should evaluate their needs when choosing a recruitment partner, whether they need someone to fill a single position or a strategic career consultant to assist with long-term recruitment planning. This is important as it takes more time to attract and hire candidates. Passive job seekers, who may not actively seek employment but are open to new opportunities, are becoming increasingly difficult to reach.
7 Tips For a Successful Recruitment Plan
- When creating a budget for the coming year, it’s important to anticipate open positions and when they need to be filled. For example, if a position needs to be filled in the first quarter, the recruitment process should begin now. As part of the budgeting process, establish a clear compensation plan with the salary range for open positions before beginning the job search. It’s important to be mindful of laws regarding pay transparency and to consider any flexibility in starting salaries.
- When creating a recruitment plan, it’s important to prioritize diversity, equity, and inclusion. Ensure the minimum qualifications for job openings align with your company’s DEI policies. Additionally, consider whether alternative pathways, such as progressive career growth, can be considered as a replacement for an undergraduate or advanced degree.
- Take the time to review and update your company’s benefits package, considering what is most important to job candidates, such as culture, flexibility, and opportunities for career growth.
- Examine your company’s brand closely. Determine what your organization represents and why someone would want to work there. Additionally, assess your company’s online reputation, as it plays a crucial role in attracting job candidates. Research suggests that approximately 86% of job seekers investigate the organization and its reputation before applying for a position.
- Consider innovative ways to attract potential job candidates. Collaborate with your recruitment partner to create unique strategies that make your company stand out in a crowded job market. In addition to external recruiting, leverage the networks of current employees. Also, don’t overlook internal candidates- employees who are ambitious and hardworking and looking for opportunities to advance within the company.
- Reflect on how you are communicating with potential top hires. Building a relationship is crucial, and the way we communicate has evolved. Rather than waiting for a phone call or email response, proactively reach out and provide updates and next steps via text message.
- Once you have a group of strong candidates, keep the hiring process moving quickly, as it is likely that these candidates are also considering other job opportunities.
SmartSearch is optimistic for 2023. With a well-crafted plan and a strategic recruitment partner, leaders can overcome their hiring challenges and find talented individuals who will help drive their organizations to new heights.