Hiring Trends to Watch Out For in 2024: A Guide for Businesses

Hiring Trends to Watch Out For in 2024: A Guide for Businesses

Hiring Trends to Watch Out For in 2024: A Guide for Businesses

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23/11/2023

The world of recruitment and talent acquisition is constantly changing. From technological advancements to evolving workforce demands, businesses must remain flexible and well-informed to both entice and retain top-tier talent. This article will delve into the upcoming hiring trends and buzzwords pertinent to businesses in the UK. Prepare to transition from AI (Artificial Intelligence) to DE&I (Diversity, Equity, and Inclusion) as we explore the imperative buzzwords shaping the future of hiring.

Leveraging AI for Enhanced Hiring Efficiency

As we approach 2024, Artificial Intelligence (AI) emerges as a pivotal force shaping the hiring landscape for UK businesses. With almost 67% of HR professionals agreeing that AI can vastly improve the recruitment process. The utilisation of AI technology is set to transform conventional recruitment practices by significantly improving speed, accuracy, and operational efficiency.

Utilising the power of AI means hiring teams can automate manual processes, and focus on the more human side of recruitment. According to a survey conducted by Tidio, nearly 85% of recruiters believe AI is “a useful technology that will replace some parts of the hiring process”. For example, one of the most pronounced impacts of AI lies in candidate sourcing. Through advanced algorithms, AI has the capability to swiftly analyse vast datasets to pinpoint candidates that precisely match specific job requirements. This data-driven approach liberates hiring managers from the arduous task of sifting through numerous profiles, enabling them to focus on strategic decision-making.

Moreover, AI's role extends to candidate evaluation. AI-powered tools meticulously scrutinise CVs, cover letters, and online profiles to assess a candidate's qualifications and alignment with a role's prerequisites. Automated video interviews, driven by AI, delve into candidates' non-verbal cues, expressions, and responses, providing insights into their potential fit within an organisation. Up to 86% of companies have been reported as using technology-mediated job interviews, with a growing number of this percentage being automated video interviews (AVIs).

In addition, AI-powered chatbots contribute to fostering a seamless and personalised candidate experience. These interactive bots engage candidates by offering valuable company information, scheduling interviews, and delivering prompt feedback. This proactive engagement enhances communication and ensures candidates remain engaged throughout the hiring process.

Shifting Focus to DE&I in Recruitment:

Diversity, Equity, and Inclusion (DEI) have ascended as crucial focal points in recruitment and talent acquisition, with a fifth of recruiters saying that EDI is a higher priority now. Looking ahead to 2024, UK businesses must pivot their attention towards cultivating diverse and inclusive workplaces. It's not merely about meeting quotas but fostering a culture that appreciates and celebrates employees' diverse backgrounds and perspectives.

The significance of DE&I in recruitment is multifaceted. Firstly, it champions fairness and equal opportunities, ensuring a level playing field for all candidates irrespective of their background. This approach mitigates unconscious biases and promotes a more equitable hiring process. Crucially, it means levelling the playing field for all candidates, irrespective of their abilities. This includes neurodivergent candidates. Yet, while neurodivergent individuals make up 15% of the UK's population, only 38% of organisations have built in accessibility features on their careers sites. HR teams interested in improving their DE&I must strategise to make their hiring journey more inclusive.

Secondly, DE&I serves as a catalyst for innovation and growth. Studies consistently affirm that diverse teams surpass homogeneous ones in problem-solving, creativity, and decision-making. By amalgamating individuals from varied backgrounds, businesses stimulate innovation and drive success. One way to address this is by using advanced job distribution technology to tap into diverse talent pools, across age groups, locations etc. As technology advances, it's important for hirers to seize development opportunities and find candidates where they are.

Lastly, DE&I significantly influences reputation and employer brand image. In an increasingly socially conscious world, candidates gravitate towards companies prioritising diversity and inclusion. With 41% of Gen Z stating that they expect inclusivity in recruitment practices. Establishing a commitment to DE&I augments the potential to attract top talent, retain employees, and bolster brand reputation.

Incorporating Flexibility and Remote Work in Hiring Policies:

The COVID-19 pandemic expedited the shift towards flexible work arrangements and remote work, trends likely to persist beyond 2024. This is further backed by a survey conducted by PwC, which found that 55% of employees would prefer a hybrid model of working post-pandemic. Navigating the 'new normal,' UK businesses must seamlessly embed flexibility and remote work into their hiring policies.

Flexible work arrangements have become a paramount employee preference. Leveraging technological advancements and the acceptance of remote work, businesses can tap into a global talent pool without geographical constraints, optimising opportunities to secure the best talent. Moreover, integrating flexibility and remote work into hiring policies correlates with amplified employee satisfaction and productivity. Offering remote work options or flexible working hours nurtures a healthier work-life balance, subsequently reducing stress levels. This, in turn, amplifies motivation and productivity among employees.

However, while incorporating flexibility, clear communication and defined expectations remain pivotal. Establishing guidelines and protocols is imperative to sustain collaboration and accountability within remote teams. Which is why investing in technology supporting remote work, like project management platforms and video conferencing software, is essential.

Utilising Predictive Analytics in Talent Acquisition

This pioneering approach leverages data analysis and statistical models to predict future outcomes. When applied to hiring, predictive analytics empowers businesses to make informed decisions and pinpoint the most suitable candidates for their roles.

By harnessing data from diverse sources such as candidate CVs, performance metrics, and behavioural assessments, businesses gain invaluable insights into a candidate's potential performance and fit. Predictive analytics identifies patterns and trends, aiding recruiters in forecasting a candidate's likelihood of thriving in a particular role or within the company culture.

The key advantage of employing predictive analytics in talent acquisition lies in its potential to diminish bias and enhance objectivity during the hiring process. Relying on data-driven insights enables recruiters to concentrate on the most pertinent success factors for a role, mitigating subjective judgments or gut instincts. Additionally, predictive analytics streamlines the hiring process by identifying promising candidates, enabling recruiters to allocate their time and resources more effectively.

Partnering with inploi to navigate the Future of Hiring

Amidst this transformative landscape, a partnership with inploi emerges as an instrumental move. inploi stands as an end-to-end HR technology solution, working with companies to build and develop accessible and personalised journeys and best-in-class candidate experiences to make sure that interested talent converts, every time.

We enable businesses to streamline recruitment processes by leveraging advanced algorithms that precisely match job requirements with potential candidates - not only saving time, but also ensuring a more targeted and efficient hiring process. Plus, our technology seamlessly integrates with your existing ATS and software, giving you full visibility into your candidate journey from “viewed” to “applied”.

Ready to embrace the future of hiring? Get in touch today to learn how we can help.