Executive recruiting has changed a lot during the pandemic — and companies’ talent acquisition strategies are still in flux as the business world tries to figure out what the new normal will actually look like. The good news for job seekers, during what’s being called the “Great Resignation,” is that they are in a strong position as they seek new positions. Take a look at some of the key anticipated hiring trends for 2022.
The Great Resignation Continues — And Talent Retention Becomes More Important
Employee turnover is expected to continue at high levels — as high as 55%, according to one recent survey. To push back against this prolonged talent shortage, many employers are likely to make exerted efforts to retain their key employees by rewarding loyalty, increasing benefits, revamping training, offering mentorship programs, and meeting employee requests for perks such as flexible scheduling and remote work.
Talent Acquisition and Recruitment Goes Remote
Business travel plummeted during the pandemic. While some people missed the opportunity to travel for business, many companies realized that a lot of the travel they had been funding could be dispensed with. Especially in recruitment, virtual interviews are here to stay, particularly at the earlier stages of the talent search process.
Talent Pools Become More Diverse
In the old days, talented candidates could be left off interview lists because they didn’t look like the candidates and executives of the past. Now, increasing numbers of organizations are rooting out areas of hidden bias in their recruiting strategies and assumptions. In a job seeker’s market, the widened talent pool that results from these new efforts is a big plus for employers, not to mention the impact diverse hiring has in the creation of ideas and ultimately increased profitability for companies.
Vaccination Status Becomes a Requirement
You may have noticed people logging their vaccination status on LinkedIn — not surprising, when increasing numbers of employers are requiring employees to be fully vaccinated against COVID-19. This is especially true in the education and health care sectors, where other vaccinations (think flu) may also be required. Going forward, 33% of hiring managers are expected to weed out resumes that don’t list vaccination status.
Longer Notice Requirements Filter Down
Because of the difficulties involved with retaining talent in a post-pandemic world, companies can easily find themselves over a barrel if key employees announce that they’re leaving. It has been standard for C-suite and other top-level management to provide several months of notice for quite some time. Now, that requirement is filtering down to lower levels, especially to creatives of various sorts. If an employee has to give three months’ notice, the company has a safety cushion for their replacement.
Recruitment of Passive Candidates Is on the Rise
When multiple companies are competing for attention from candidates in the same talent pool, smart executive recruiters see what they can do to expand the pool. In 2022, look for an increase in passive recruitment, with recruiters reaching out to potential hires who are not yet on the job market. This type of talent acquisition can be very beneficial to the hiring companies, since their new recruits aren’t seeking a job out of financial desperation and are many times the top players in the marketplace.
Executive search firms can be especially helpful when you need to seek out passive candidates, as well as in facing the changing challenges ahead in 2022. By staying on top of hiring trends, you can place yourself in a strong position for renewed growth in the new year.
By Octavio Lepe
Barbachano International is the premier executive search and leadership advisory firm in the Americas with a focus on diversity and multicultural target markets. Outplacement and Executive Coaching services are provided by our sister allied company Challenger Gray & Christmas. BIP has been recognized by Forbes as Americas’ Best Executive Search Firms and currently ranks #27 and #3 on the West Coast.