The recruitment landscape has undergone dramatic shifts in recent years. With seismic events like the COVID-19 pandemic and the emergence of remote work to increasing inflation and the Great Resignation disrupting talent acquisition strategies, it’s more important than ever for employers to stay updated on emerging hiring trends. Understanding where talent acquisition is heading allows organizations to get ahead of changes instead of just reacting to them.
In 2024, it’s clear employees want more from their careers and employers. The focus has shifted towards flexible work arrangements and prioritizing mental health benefits, which has had a profound impact on both recruiting and retaining employees. A growing number of individuals are now looking for employers that provide a better work-life balance and prioritize employee experience. So how can businesses embrace these trends and attract the right talent? We’ll explore the top hiring trends in 2024 and provide valuable insights on how to recruit the ideal employees amidst the constantly evolving workforce.
Emerging Recruitment Trends in 2024
To improve recruitment strategies, incorporate some—or all—of these emerging hiring trends.
Trend #1: Flexible Work Arrangements
With the surge in remote and hybrid work arrangements, employees are searching for improved work-life balance. Offering a more flexible work environment is a great way to attract high-quality talent and cultivate a more engaged, productive workforce. Employees are looking for employers with empathy that value their personal responsibilities outside of work, and being able to accommodate these commitments makes a company much more appealing to employees.
Trend #2: Emphasis on Benefits
Last year, over 59% of employees said they were willing to forgo a raise to receive better benefits from their employer. With a shift in focus to work-life balance and mental health, employees are looking for better health care and supplemental benefits offerings from their employers. Employers should highlight benefits packages during the hiring process to attract greater talent to open roles.
Trend #3: AI in Talent Acquisition
Artificial intelligence (AI) has made a significant impact on the workplace, and its popularity is rapidly growing. Both employers and candidates are turning to AI to streamline the recruitment process. For recruiters, AI saves time by assisting with job descriptions, pre-screening candidates, and managing real-time communication through chatbots. For job seekers, AI is being leveraged to enhance their job search. With the ability to write and customize resumes and cover letters, compare salary ranges, and experience a more efficient hiring process, AI has the potential to transform the job search landscape.
Trend #4: Diversity, Equity, and Inclusion
DE&I, or diversity, equity, and inclusion, is a trend that both employees and employers are prioritizing. In 2024, 75% of HR professionals said their organizations are prioritizing DE&I. Why? According to EY’s Belonging Barometer study, 41% of employees said work is where they feel the greatest sense of belonging outside of their home, yet 75% reported feeling excluded at work. Over half of the respondents feel they can’t share—or are reluctant to share—dimensions of their identity while at work out of fear of being held back. Employees today want to feel safe and included at work, no matter their background. These employees are looking for employers that prioritize DE&I and promote a culture of inclusivity and empathy.
Trend #5: Focus on Soft Skills
Another talent acquisition trend we’ll see in 2024 is a greater focus on soft skills rather than years of experience or educational background. Organizations are turning to skill-based models, allowing them to build a skills database customized to their needs. This strategy helps the HR team and hiring managers to better identify candidates who are best suited for the position based on their potential and proven ability to perform. There is a shift towards considering a candidate’s soft skills over their technical skills since technical skills can be taught through upskilling, and soft skills are a better indicator of cultural fit and growth potential.
Trend #6: Global Workforces
Remote work has revolutionized the hiring process for companies by enabling them to cast a wider net in their search for top talent. By eliminating geographical barriers, organizations can now tap into a vast global talent pool. This approach not only offers access to a diverse range of skillsets, but it also offers significant cost-saving benefits. With these advantages in mind, companies are empowered to hire the best talent, regardless of where they are located.
Utilizing an alternative workforce solution is a great way to broaden your workforce’s skillset while keeping costs down.
Trend #7: Data-driven Decision Making
Another recruiting trend we’re seeing in 2024 is data-driven decision-making. Through the integration of recruitment technology with predictive analytics, HR and hiring managers can predict which candidates are likely to accept a job offer. HR managers can also use this technology to collect data on productivity, turnover, and talent management.
Trend #8: Recruitment Process Outsourcing
Recruitment process outsourcing (RPO) is when companies outsource their recruiting needs to a third-party provider. Outsourcing recruitment saves time and money, as the provider manages the recruiting process from sourcing and to pre-screening to setting up candidate interviews and initiating onboarding. Organizations often turn to RPO to allow them more time to focus on core operations and growing their business.
Navigating Hiring Trends
Recruiting trends are always evolving as the workforce changes. Staying on top of the latest trends ensures employers are in the best position to attract and retain top talent for their company. Knowing what employees want—flexible work schedules, benefits, DE&I—to updating recruitment strategies—global talent acquisition, data-driven analytics—will only help employers develop a strong culture and workforce to support their business’s success.
Solvo Global drives business growth by connecting North American companies with exceptional remote workers and AI-powered tools. Our unique nearshoring model ensures efficient collaboration in the same time zone, reducing turnover, and driving cost and operational efficiencies. With a focus on fostering a great work environment, Solvo is dedicated to attracting top talent, ensuring our partners never have to choose between cost and quality.
