After years of jumping ship in search of better job opportunities during The Great Resignation, employees are staying put. With voluntary quit rates at their lowest levels since the pandemic and economic turbulence slowing hiring volumes, talent acquisition leaders are grappling with how to prepare for the future in an unpredictable market. When preparing for an uncertain hiring landscape, an agile work structure is critical.

“Employers are tuned into the uncertain hiring environment,” says Amy Bush, president of Sevenstep. “A hiring spike, freeze, or demand for new skills or talent types can arise anytime. The most successful TA leaders shine through these times by making their organizations ready for everything.”

Readiness means having the data to predict hiring demands, costs, and resource needs, she says. It also means having the ability to pivot and address challenges easily.

“The hiring landscape is marked by economic fluctuations, technological advancements, and shifting employee expectations,” says John Wilson, CEO of WilsonHCG. These factors are driving hiring trends.

There are several other key factors shaping the recruiting market.

• Hybrid work is here to stay. “The number of fully remote roles has fallen this year, but job postings for hybrid roles have been relatively consistent, according to our talent intelligence and labor market analytics platform,” says Wilson. Organizations get the best of both worlds with hybrid work, he explains, allowing them to balance organizational success with employee interests like flexibility.
• Talent intelligence is a game-changer. Talent intelligence and data allows organizations to make informed decisions about their strategic hiring goals. “Talent intelligence can help source talent efficiently, provide market reports showing where the talent is located, and determine the levels of compensation required,” says Wilson. All this adds up to a competitive advantage in an evolving market.
• AI is transforming talent acquisition. AI can analyze huge datasets in seconds, allowing leaders to make strategic decisions about their workforce, including achieving a clear picture of their entire workforce makeup. “The organizations most effective at translating business goals into work are also those widening their perspective to total workforce planning,” says Marissa Geist, CEO of Cielo. “The fundamental difference between workforce planning and total workforce planning is the addition of automation. Organizations leveraging total workforce planning look at the work and establish how both automation and humans should be utilized to deliver the best possible outcomes.”
• Candidates expect a personalized hiring process. Wilson advises employers should develop a candidate experience that aligns with expectations while ensuring they update it when said expectations shift and evolve. Rick Betori, president of PeopleScout, agrees. “Continuing to prioritize the candidate experience is non-negotiable in today’s talent market. A best-in-class candidate experience should include clear differentiation from competitors, a well-articulated EVP, frequent and informative communication, and effective use of leading technology,” he recommends.

91% of recruiting leaders say they are focused on being agile to adapt to hiring needs.

With employees sticking with their current employers, TA leaders should consider looking within when trying to fill jobs.

“Internal mobility is crucial,” says Jeanne MacDonald, CEO of RPO at Korn Ferry. “It helps fill gaps and reduces costs while improving employee loyalty. We’re seeing a trend in increased investment in employee development alongside internal mobility with more emphasis on internals filling open requisitions than externals with a development opportunity to assist them to fill the gap.”

Geist agrees the lack of talent in the market has organizations looking internally and thinking differently. “As many organizations come to terms with needing to build their own talent, there is also recognition that to create a real lift in agility and innovation these internal, capability build efforts need to be infused with external talent, that is cost effective and can deliver to the new paradigms of work,” she explains. “There has been greater investment in, and recognition of the importance of, high quality and scope internal mobility programs. Thus, ensuring existing employees and candidates have the same consumer-grade experience.”

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