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Based on input from talent acquisition experts from across the globe, Korn Ferry has identified the top 10 key emerging trends that will have the most impact on how, when and where we work in the coming year.
The COVID-19 pandemic was the test case that no one wanted.
For a while, companies have struggled with a shrinking talent pool, but the global outbreak accelerated this talent shortage to a degree no one could have predicted. And it will only get worse: a recent Korn Ferry survey shows 55% professionals believe employee turnover will increase in 2022.
The people you have will become the people you need.
Facing a talent shortage means organizations will start to focus more on internal mobility, reskilling and upskilling existing employees to prevent attrition and fill niche roles.
More ambiguity. More structure.
First days on the job used to mean less formality and more organic connections.
In a remote world, though, organizations will have to structure the entire onboarding process so that they can stay close to new hires—even if they are physically far away. This also means engaging new hires before they even start and encouraging existing employees to reach out to their future colleagues to make them feel part of the team.
Saving corporate cash by traveling less.
Thanks to the pandemic, the pace of business travel has slowed dramatically—and will continue to stay that way. Travel to see internal colleagues will virtually cease, and when it comes to recruiting, organizations are saving in-person interviews for the final rounds of the hiring process, and for mostly senior roles.
New methods for incentivizing candidates to join—and employees to stay.
To crack a tight labor market, companies are increasing starting salaries, offering more long-term incentives and benefits, and paying sign-on bonuses, even for entry level hires. They will also offer hybrid working conditions, allowing employees to work both from home and the office.
Enhanced action on sustainability.
Candidates are doing their research to see if prospective employers are doing work that will move the needle on environmental and social issues. In response, organizations are measuring sustainability objectives and being transparent about their process in order to differentiate themselves in a competitive labor market.
Casting a wider net in the search for talent.
Faced with a chronic talent shortage, organizations are easing up on job qualifications, like four-year college degrees and set years of previous experience, as well as overlooking resume gaps, to cast a wider talent net. What’s more: employers are going outside of their industry, within the retired workforce, and to other nontraditional places to find the people and skills they need.
An inclusive and engaging culture is better for everyone. Organizations are looking inward at their culture and employer value proposition (EVP) to understand how they align—or don’t—with what candidates want in the companies they work for.
Taking accountability for easing the talent shortage.
Due to high employee turnover, leaders are now taking a step back and finding out why people are leaving their company—or even the workforce. They are taking strategic steps to address the pain points in order to increase recruiting success. This includes focusing more on candidate experience and engagement, rather than bringing more people in the door.
Simplifying new technologies to focus on candidate experience.
More streamlined technology platforms are replacing the hodgepodge of tools to create a one-stop-shop that moves across the hiring continuum.
Now, recruiters are focusing more on strategic interactions with candidates, and less on the tactical aspects of the process.
Rooting out bias to create equitable hiring practices.
Current screening tools often exclude qualified candidates because they do not tick specific boxes, limiting an already sparse talent pool.
Organizations are now investing more in inclusive technologies in order to root out bias so they do not miss out on great talent.
To learn more about 2022 talent acquisition trends read our article, Talent shortage moves to a chronic problem in 2022.