CEO of global recruitment firm Duffy Group Inc. and author: Revolutionizing Recruitment: How Recruitment Research is Reshaping the Industry.
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Predicting how the nation’s economy will perform in 2023 is a little like looking into a crystal ball. Nobody knows for sure. Something that is certain, though, is that despite the economic conditions, America’s war for talent will likely continue in the coming year.
At last count, the Bureau of Labor Statistics reported an astounding 10.3 million job openings. In general, employers are feeling good about the future, too. In a recent PwC survey, 83% of the respondents said they are focusing on business strategy and growth above any other objective. Fewer than one-third of those surveyed see a recession as a serious risk.
Continued growth and opportunity present a different challenge: filling existing and new job openings. Time and again, leaders from the corporate and nonprofit worlds alike lament about the lack of quality candidates. It’s no surprise that these hiring decision-makers say that finding top talent remains one of their biggest challenges.
Their concerns are understandable. Not only are candidates still in the driver’s seat, but they are being more selective about their career options. They are no longer simply chasing the money, as many did during the Great Resignation. Candidates are keenly focused on the brand of their potential new employers. They want to connect with the employer’s mission, know that there are opportunities for advancement and work for a firm that believes in diversity, equity and transparency.
Given the competition for talent (especially passive talent) and understanding what candidates seek from their future employers, a recruitment road map for 2023 is a must.
Internal hiring leaders should start by considering what they are looking for from their recruiting partner: someone to fill a job or a strategic career consultant who can help guide their recruitment planning and set them up for long-term success. That’s important since it is taking more time, on average, to get on a candidate’s radar and ultimately fill open positions. Passive candidates—those who may not be actively looking for a job but would consider a new opportunity—are becoming even more passive.
For those looking to create a thoughtful recruitment plan for the new year, here are some tips for success:
1. Compile a budget with anticipated open positions and when such positions ideally need to be filled. For openings in the first quarter, you’ll want to start the recruitment process now. As part of the budgeting process, create a clearly defined compensation plan with the salary range for open positions before the start of the job search. Be sure to note any wiggle room in the starting salaries and be mindful of pay transparency laws that require employers to disclose salary ranges for open positions.
2. Create your recruitment plan with diversity, equity and inclusion in mind. Ensure that the minimum qualifications for the job opening align with your company’s DEI policies. In addition, indicate whether progressive career growth can serve as a substitute for an undergraduate or advanced degree.
3. Review and refresh your company’s benefits package, keeping in mind what’s most important to candidates—culture, flexibility and opportunity for advancement, among other things.
4. Take a deep dive into your brand. What does your organization stand for and why would someone want to work here? Finally, what is your organization’s online reputation? This is critical, as an estimated 86% of job candidates research the organization and its reputation before they consider applying for an open position.
5. Think about how you want to attract potential candidates. Reach beyond old methods and work hand-in-hand with your recruiting partner to establish new ways of getting your company to stand out in a crowded field. In addition to external recruiting efforts, tap into your employees’ vast networks. Importantly, don’t forget about internal candidates—those ambitious and hardworking individuals looking to grow with your company.
6. Consider how you are communicating with what could be your next great hire. Building a relationship is key, and times have changed. Waiting for a return phone call or an email may take longer than reaching out with updates and next steps via text.
7. Once you get a slate of promising candidates, keep the process moving along at a good clip, knowing that those being considered for your position are likely entertaining other opportunities.
Looking ahead to 2023, I see signs of optimism. With a thoughtful plan and strategic recruiting partner in place, leaders can turn their hiring woes into opportunities to find talent who can take their organizations to an even higher level.
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