Undoubtedly, the global pandemic has affected many industries, with some feeling the effects more acutely than others. The talent acquisition landscape is no different, and the way companies recruit and hire top talent has changed dramatically over the past year.
As we move into 2022 and beyond, staying up-to-date on the latest recruiting trends and statistics is important. This will help you make informed decisions about your talent acquisition strategy and ensure that you can attract the best candidates for your open positions.
Top Talent Acquisition and Recruitment Statistics
1. In 2021, the global pandemic has caused a major job loss globally
As the world continues to feel the consequences of the pandemic, many people are losing their jobs. This has led to the loss of around 22 million jobs in wealthy countries. This is a staggering number considering that over 100 million workers have lost their jobs globally. A report from the Paris-based Organization for Economic Cooperation and Development (OECD), an intergovernmental economic organization dedicated to stimulating progress, warns of the risk of a rapid rise in long-term joblessness.
However, according to the U.S Bureau of Labor Statistics, the unemployment rate in March 2021 has decreased to 6% from 15% in 2020, which means that this year 2022, employees will be more aggressive in finding work remotely and on-site.
2. The way people search for jobs has changed.
The pandemic has also affected the way people search for jobs. With more people working remotely, there’s been an increase in online job boards and other digital channels for job hunting. According to LinkedIn, 30% of the global workforce actively looked for jobs online after the pandemic. Additionally, 34% said they would search for jobs on social media, and 31% said they would research companies online before applying for a job.
3. Candidates are looking for different things in a job.
The pandemic has changed what candidates are looking for in a job. A recent survey found that 48% of respondents were now more interested in working remotely than before the pandemic. Other top concerns included health and safety benefits (41%), work-life balance (29%), and paid leave (38%).
4. The competition for top talent is only going to increase.
With the increase in job seekers, the competition for top talent will only increase. This is especially true for industries that have been hit hard by the pandemic, such as hospitality and retail. Companies must offer competitive salaries and benefits packages to attract the best candidates. They may also need to be more flexible with their hiring requirements, such as experience and education levels.
5. Employers are focused on diversity and inclusion.
A recent report found that 61% of employers said they were more focused on diversity and inclusion than they were a year ago. This will likely continue to be a top priority for companies in the coming year as they look to create more inclusive workplaces.
The lack of diversity can mean many candidates won’t consider working at a company with insufficient diversity policies. 49% of recruiters surveyed have experienced candidates turning down an interview or job offer because of the lack of diversity in the workplace.
6. The gig economy is growing.
The gig economy is also expected to grow in the coming year. This refers to the trend of workers holding multiple short-term jobs rather than a traditional full-time position.
There are several reasons why the gig economy is attractive to workers, such as flexibility and the ability to work from anywhere. For employers, the gig economy can be a cost-effective way to find talent for specific projects or tasks.
7. Company culture plays a crucial role.
A new survey has revealed that 46% of job seekers said culture was one of the deciding factors in the application process. Moreover, Millennials prioritize ‘people and culture fit’ above everything else. When looking at a potential employer, this group will most likely look at its work environment, whether the company is focused on helping others or making money only, how well the company values diversity, and how it treats its employees.
8. The war for talent is global.
The competition for top talent is not just limited to the United States. A recent survey found that 63% of employers believe the war for talent is now a global phenomenon. This is due to the increase in international job seekers and the rise of the gig economy. As a result, companies will need to be more strategic in their recruiting efforts to attract and retain the best talent.
9. Social Media Is the Top Recruiting Tool.
A survey conducted by the Harris Poll found that 67% of employers use social media sites to research potential job candidates. 70% of the employers in this survey also believe that companies should screen potential candidates’ social media profiles when considering them for a job opportunity.
10. Video Interviews Are on the Rise.
Video interviews are also becoming more popular, with 22. 60% of employers say they conduct them as part of the hiring process. This is likely because video interviews can be completed more quickly and easily than in-person interviews. Additionally, video interviews allow employers to reach candidates who are not local to their area. This can be a great way to find talent from a wider pool of applicants.
These are just a few talent acquisition trends expected to shape the recruiting landscape in the coming year. As you consider your recruiting strategy, keep these trends in mind to stay ahead of the curve. A talent acquisition strategy can aid a business in attracting, hiring, and retaining skilled workers.
If you want to learn more, read the other blog we have carefully created to help companies improve by finding their next great talent.