Talent

Acquisition

Trends 2024

New Tech, New Talent, New Tactics: Experts Forecast 2024's Talent Acquisition Trends

How will AI impact the talent landscape? Is early career hiring an untapped advantage? Could CEO empathy be the secret to attracting and retaining top talent?

While no one can predict the future with absolute certainty, combining expert opinions from global talent leaders with this powerful blend of data and insights gives us a clearer picture.

This is your opportunity to discover the recruitment and talent trends that will shape the coming year—and to stay ahead of the curve.

Here are the six most important hiring trends you should know about.

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AI and Recruiters: Finding Balance in the Hiring Process

Cautiously, AI and recruiters are beginning to work in harmony.

In a recent study, 82% of CEOs and senior leaders anticipated AI having a significant or even profound impact on their business. But will this impact be positive?

AI offers substantial advantages to recruiters. It accelerates processes, drafts job descriptions, powers pre-screening video interviews, and assesses candidates to identify the best matches for roles. Recruitment chatbots can even respond to candidates' inquiries in real-time.

When used effectively, AI saves both time and money. It also has the potential to enhance DE&I by recommending candidates who may not have the 'traditional' experience recruiters typically seek.

So far, so promising. Most recruiters believe the benefits of AI outweigh the risks. However, two significant concerns remain.

The first is accuracy. A recent Stanford study indicates that generative AI tools like ChatGPT are becoming less reliable. As a result, 73% of leaders plan to closely monitor their tech for security issues or algorithmic bias.

The second concern is more fundamental. As AI takes on a larger role, there’s a risk that, without strategic implementation, the human element in hiring could be diminished.

Recruiters are on the verge of achieving the right balance—but will it endure?

AI for Candidates:How AI is Empowering Candidates in the Job Market

AI is making life easier for candidates as well.

The days of endlessly searching for roles and customizing resumes and cover letters are fading, thanks to generative AI taking on these tedious tasks.

Candidates are also gaining the power to pursue fairer compensation. With AI's ability to easily compare salary ranges, they’ll be better equipped to negotiate or walk away if an offer doesn’t align with market standards.

Moreover, once they secure a role, candidates will experience a more efficient onboarding process, with the support of virtual training and chatbots ready to answer their questions.

However, candidates should remain vigilant in an AI-driven job market. Scammers are increasingly using AI to steal personal information, and there have been alarming reports of candidates unknowingly sharing their social security numbers, bank details, and other personal data with fake AI-generated job postings.

As always, it’s crucial to be cautious about the roles you apply for and to verify employer websites to ensure the opportunities are legitimate.

Early Career Hiring: Doubling Down on the Value of Early Career Talent

While some professional roles will still require college degrees, 2024 will see recruiters casting a wider net.

Larger employers will start engaging candidates while they’re still in high school, and others will look to technical schools and non-traditional higher education institutions for new hires.

There are several reasons for this shift. Financial considerations play a role—entry-level hires typically command lower salaries than their more experienced counterparts, making them an attractive option when budgets are tight.

Equally important are the fresh perspectives and inclusivity that early career hires bring. Expanding the talent pool makes it easier for organizations to achieve their DE&I goals.

However, today’s young hires have higher expectations from employers—they seek more inclusion, better work-life balance, and greater compassion. There is an increasing demand for empathy, emotional intelligence, and attention to mental health in the workplace. It’s up to employers to rise to the challenge and support their teams.

Hiring for Skills:It’s Not Where You’ve Been, But What You Know

In 2024, what matters most is your skills, not the names of past employers on your resume.

This shift is a significant win for diversity, equity, and inclusion, and it offers substantial benefits to organizations by expanding the talent pool.

With many skills gaps to address—especially in areas like generative AI—we anticipate businesses will prioritize the skills they need to acquire and develop now. This focus will help align their workforce with the organization’s long-term strategic goals.

This strategy includes bringing in interim hires to upskill teams, allowing businesses to test out roles before making permanent hires.

The emphasis on skills isn’t limited to technical abilities. Both technical and leadership skills will take center stage in job postings and internal opportunities. We can expect more lateral moves as businesses reassign roles to tap into hidden potential within their teams.

Recruiters will also continue to value leadership skills, ensuring that today’s focus on immediate needs doesn’t lead to leadership gaps in the future.

Empathy Regains Importance: The Return of Empathy in Leadership

Is empathy fading among CEOs?.

A survey of 3,000 HR professionals in early 2023 revealed that one-third believe empathy is lacking at the top.

According to the research, this is a significant issue for any business aiming to attract and retain high-performing talent.

As these top performers leave for roles in organizations that offer better work-life balance or more freedom to voice their opinions, CEOs will need to adapt.

By 2024, we anticipate CEOs will be more attentive to colleagues at all levels of their business, listening without judgment.

While this shift doesn’t necessarily mean abandoning office return policies, it does suggest a deeper focus on the culture they cultivate and a greater consideration for employees' personal circumstances.

Relocate or Resign: Finding Balance in the Hiring Process