Though we all wished we’d be in a post-pandemic frame of mind in 2022, we’re not quite there yet. However, despite economic stops and starts, there are hints of optimism — that is if employers and job seekers can get on the same page.
Those were some of the key themes to come out of Monster’s just released Future of Work 2022 Report. The results of the report’s two global surveys of both recruiters and workers also revealed that employers are facing an extremely competitive talent environment. But despite the ongoing pandemic challenges, they are poised to forge forward with larger staffs and new ways of working.
“The marketplace is infinitely more competitive, and employers are willing to spend more money to attract talent,” says Monster CEO Scott Gutz. “Plus, we’ve got this situation where there are not as many candidates and they’re moving around so quickly, so we’re not only concerned about the ability to acquire, were also concerned about the ability to retain.”
Here are some of the top takeaways from the report that reveal what the coming year may have in store, along with recruitment tips that will keep hiring managers, staffing agencies, and recruiters ahead of the curve.
Hiring Needs Are Up, But Talent is Harder To Come By
The 2022 hiring outlook is much improved from last year. In fact, 93% of employers plan to hire this year — including 50% who will be looking to replace or backfill staff, and 43% who plan to hire for new positions.
The problem is that thanks to fewer active job seekers, the “great resignation,” and a persistent skills gap, good talent is getting harder to find – and costing more to attract. Hence why just 58% of U.S. recruiters call themselves “very confident” that they will be able to find the right fit candidates for open positions, and are eager for recruitment tips to help improve their chances.
Job Seekers Want Money And Purpose
Candidate priorities are shifting away from flexibility and towards higher pay and career satisfaction, according to FOW Report. Interestingly, 43% of respondents listed meaningful work as one of the most important factors driving their career choice – above flexible work schedules. Also on the rise is a desire for skills training and career development.
With 28% of candidates also saying they are seeking a caring work environment, employers have an opportunity to reach prospective hires by emphasizing workplace culture. One of our top recruitment tips this year is to re-examine your employer brand strategy and make sure you’re communicating what makes your company such an ideal workplace.
Recruiters Must Get Creative to Source Talent
You’ll want to get on board with recruiting candidates from new or unexpected sources. Here’s an indication of some avenues to explore: globally, 67% of Gen Z recruiters told us they are increasing outreach to outside organizations with diverse talent pipelines, while 70% of U.S. recruiters said they’d be open to hiring candidates with transferable skills that they can train. Others are experimenting with new recruitment strategies. For example:
- 28% are increasing their job ads (this climbs to 40% for tech employers).
- 26% are expanding their location search.
- 38% are increasing outreach to organizations with diverse talent pipelines.
The Future of Recruiting is More Digital
Gen Z and Millennial recruiters – who make up a majority of today’s active recruiters – embrace texting, and are also more likely to leverage a broader set of tools that includes job board matches, email campaigns, social ads, and more. In fact, 61% of global Gen Z recruiters think virtual recruiting is better than in-person (vs. 26% of millennials and 6% of Boomers who said the same).
There’s No Consensus on Return-to-Work Plans
U.S. employers are split with 43% saying they are transitioning to a hybrid work model, 35% returning to full-time onsite, and 19% going fully virtual/remote . Worth noting: 57% of actively looking job seekers say they would prefer to work fully remote.
DEI Policies Are No Longer Wishlist Items – They’re Being Implemented
Nearly 4 in 10 employers cited the need to build a diverse workforce as their top DEI priority for 2022. This aligns with 32% of younger candidates (ages 18-24) ranked an employer’s DEI initiatives, gender pay equity, and proactive response to social issues as becoming increasingly more important.
So what does all of this mean for recruiters in this new year? It’s more important than ever to try new DEI hiring approaches while getting to the heart of what candidates and employees want. This will not only help you attract right-fit talent, but also create a work environment that allows them to do their best work.
Want More Recruitment Tips To Improve Your 2022 Hiring?
In an ever changing job market, you want to make sure that your hiring decisions are based on the right data points and economic forecasts from the experts. Monster has had a window into the job market for decades and has built relationships with an ever-growing community of candidates and employers. With our latest Future of Work Report, you’ll get free access to our latest insights, including our updated survey results, recruitment tips, and more.