Following current talent acquisition trends is essential for any company that aims to remain relevant in the modern business environment. But it’s not always straightforward. It’s all too easy to default to old hiring practices simply because they’re more familiar.
In this article, we explore fifteen trends in talent acquisition that you can’t afford to ignore. We’ll cover everything from how AI affects the recruitment process, to the importance of creating genuinely flexible work policies to boost employee engagement and retention.
Ready? Let’s get started.
Why is it Important to Keep Up With the Latest Trends in Talent Acquisition?
The world of recruitment is always changing. Advances in technology and developments in workplace culture mean that keeping on top of Hiring Trends is crucial for any employer looking to attract and retain the best.
Understanding the current trends in talent acquisition brings your company many advantages:
- Gives you a competitive edge: The top talent always has a choice of where to work. If you want them to choose your company, you must meet or exceed their expectations during the hiring process. You have one opportunity to make a good first impression, and it’s vital to make it count.
- Helps encourage a positive workplace culture: When you allocate resources to making your recruitment process the best it can be, you’re also shaping your wider workplace culture to be positive. That’s because taking a strategic approach to recruitment that emphasizes shared values leads to a more cohesive working environment.
- Reduces employee churn: Ideally, you want to ensure the people you hire are happy to work for you. If 50% of the people you recruit leave within a couple of months, you’ll have to start all over again, and that’s a waste of resources. Following the latest talent acquisition trends minimizes the risk of bad decision-making and helps keep churn to a minimum.
15 Talent Acquisition Trends 2024
So, let’s look at some of the key 2024 Talent Acquisition trends we’re seeing come to the forefront right now. What you’ll see here is a mixture of technology-driven and culture-focused developments. Some of them you may well be familiar with already, but all are important to take into consideration as you develop your talent acquisition strategy.
1. AI in recruitment on the rise
A study conducted by the ISE found that around 28% of employers were using some form of AI in the recruitment process in 2023, up from just 9% in 2022. As AI and machine learning technology advance at a breakneck pace, this figure will only rise.
The main reason for its popularity is because it makes the process much more efficient. Employers use AI for all kinds of tasks, including:
- Resume analysis
- Writing job descriptions
- Screening candidates
- Predicting cultural fit
Before leaping into deploying AI, though, make sure you’re aware of any legal obligations you may have surrounding its use. In some jurisdictions, concerns about potential algorithmic bias have led to the introduction of new laws (e.g., NYC’s Local Law 144) aimed at ensuring fairness in recruitment.
2. AI for candidates popular
It’s not just employers who are using AI. Morgan McKinley Surveyed Job Seekers to ask whether they used AI in job applications, and, if so, which elements of the process they used it for. The results were striking.
As many as 42% of candidates reported they used generative AI to write their resumes, while fully 50% used it for cover letters. In addition, 30% used it to write responses to tasks they were set as part of the recruitment process.
This suggests that if you want to get an accurate idea of a candidate’s writing style, you may need to rethink your approach to the assessment.
3. Early Careers Talent recruitment
While many employers prefer to focus on hiring candidates who already have extensive experience, there are clear benefits to targeting those who are just beginning their careers. So, it’s not surprising that pitching to younger generations is one of the Recruitment Trends that’s increasing in popularity.
Younger candidates bring fresh thinking and often have excellent digital skills that will be valuable for your business. But they also need more support as they learn and adjust to the workplace environment.
Develop tailored onboarding programs to help them find their feet and be ready to offer the kind of flexible working conditions and transparent career advancement pathways they expect.
4. Focus on hiring for skills
No list of current talent acquisition trends would be complete without a note on skills-based hiring. This means evaluating candidates based on their skills rather than simply their experience.
What does this mean in practice? Well, suppose when you draw up an advertisement for a role, you no longer include a requirement for a candidate to have a bachelor’s degree. Instead, you list the specific skills needed to do the job. After all, if someone has those skills, it doesn’t matter how they acquired them.
This is skills-based hiring at its most basic, and it can dramatically increase your pool of potential candidates.
5. Data-driven recruiting and hiring strategies on the up
Another important talent acquisition trend is the increasing use of data analytics in recruitment. This includes for tasks such as:
- evaluating the relative effectiveness of different platforms for finding candidates
- developing candidate screening criteria based on skill assessments
- assessing candidates based on how they engage with the recruitment process (e.g., checking email open and response rates)
Leveraging your data analytics and using top-tier Talent Acquisition Reports are essential for developing more efficient hiring strategies.
6. Enhanced approach for candidate engagement and conversion
Talent Acquisition 2024 style means putting an emphasis on truly engaging with candidates. To that end, it’s worth thinking about the candidate experience.
The reality is that looking for a new job is a lot of work. Jobseekers put a huge amount of effort into applying for roles there’s no guarantee they’ll get. If you make them jump through many unnecessary hoops or are opaque with progress tracking, they’re much more likely to drop out of the race.
Take an honest look at your current hiring process. How commitment-heavy is it? Could you pare back the number of rounds of interviews you conduct? Do you make candidates do a lot of unpaid work to prove themselves? Try to minimize your demands on candidates and communicate with them regularly to keep them informed.
7. Reevaluation of relocation policies
The rapid spread of remote work over the past few years has revolutionized the workplace. According to a study by Robert Half, 60% of US job seekers would like to land a hybrid role, with as many as 37% interested in working remotely full-time.
This has huge implications for relocation policies. If you only look for candidates happy to relocate to work on-site, you limit your hiring pool.
Some roles require the employee to be on-site at least part of the time. So if you do need your employees to relocate, make sure you provide sufficient support. Otherwise, you may lose the best talent to more generous competitors.
8. Internal mobility and employee retention
One of the talent trends proving ever more important is an increasing focus on finding ways to retain staff. This makes sense. After all, the longer your employees stay with you, the less time and effort you spend replacing them.
Fostering a cohesive and positive company culture is a crucial part of the mix, of course. But it’s also vital to provide clear pathways for career progression. Most employees need a fresh challenge every now and then, so make sure you develop programs that facilitate internal mobility between teams.
9. Reliance on engagement programs to improve company culture
Having a strong company culture leads to higher productivity and increased employee motivation, so it’s a crucial consideration when it comes to attracting and retaining talent.
In essence, this is about employer branding. Your company should be clear about the values it prioritizes in the workplace to ensure a good cultural fit. Communicate your vision to all your employees and develop programs that boost engagement.
For example, you should do your best to encourage employee feedback. You could also introduce peer recognition programs to reward excellent performance.
10. Importance of employee advocacy
One highly effective way of spreading your employer brand message is through employee advocacy. Encourage your employees to share their own experiences of working with your company via their social media accounts and on other platforms. The goal is to build your business’s reputation organically.
The key word here is “encourage”. It should never be compulsory. The messaging your employees send out about their experiences has to be completely authentic, or else this strategy won’t work.
11. Diversity and inclusion remains crucial
One of the most vital Talent Acquisition And Recruitment Strategies in recent years has been focusing on diversity, equity, and inclusion.
A 2023 Study by the Pew Research Center found that 56% of all US workers believe focusing on DEI in the workplace to be a good thing. It should be no surprise that a clear majority responded in support. Prioritizing diversity in hiring fosters higher levels of employee engagement and team cohesion, as everyone feels their contribution is valued.
12. Addressing E-Presenteeism
One downside of the increase in remote working has been the scourge of e-presenteeism. This occurs when employees working from home simply can’t switch off.
It’s too easy for a remote worker to “just check a few emails” or “just finish off that slide deck,” even when they’re supposed to be away from work. Before they know it, they’ve been sucked into working for several hours when they were supposed to be enjoying paid time off.
While it might be tempting for employers to ignore this habit, it’s extremely important that you don’t. E-presenteeism is a one-way ticket to burnout. Ensure your employees take regular breaks; an exhausted workforce is less productive in the long run.
13. Payroll flexibility and on-demand payments matter
Another of the emerging trends in talent acquisition is the widespread adoption of more flexible payment practices. On-demand pay involves paying employees on a date of their choice rather than following a standardized payroll schedule.
Note that this doesn’t mean you pay an employee in advance for work they haven’t done yet. Early wage access tools track work done so that the employee can ask to receive a proportion of the salary they’ve already earned when it suits them.
Modern technology makes this fairly easy, and it can be a terrific benefit for employees who like to take advantage of it while costing you nothing extra.
14. Employee well-being and work-life balance vital
Payroll isn’t the only area of work where you should be taking a flexible approach. Instituting genuinely flexible work policies across the board can go a long way toward improving employee well-being.
Striking a healthy work-life balance benefits not only the individual employee but also leads to higher levels of engagement and productivity overall.
Examine your current work policies and identify areas where you could introduce elements of flexibility. Could you give your employees more of a say over organizing their shifts? Perhaps they could work remotely more often? Anything you can do to give your employees more power will be appreciated and will help with staff retention.
15. Empathy is key
No matter what choices you make in terms of developing your recruitment and retention strategy, remember that employees aren’t machines. The importance of showing empathy as you make your decisions can’t be overstated.
Empathy helps you get a better grasp of how to pitch a winning message to potential job candidates. It also helps you understand how to motivate your employees to do their best work. In other words, it’s the oil that keeps the engine of talent recruitment running well.
Keep Up-To-Date With Talent Acquisition Trends With Customizable Oleeo Software
So there we have it: fifteen of the latest trends in talent acquisition that you should consider developing your strategy around. And to make the most of the advice on this list, there’s no better approach than to adopt Oleeo’s modern Talent Acquisition Recruitment Platform.
It’s a fully customizable platform that puts you in the driving seat. From cloud-based applicant tracking software to data-rich reporting functionality, Oleeo gives you everything you need to find and hire the best talent. But don’t take our word for it. Reach out to one of our experts today to Book A Demo and try it yourself!
FAQs About Talent Acquisition Trends
How is talent acquisition changing?
Ongoing changes in the way we work are all having an effect on hiring practices. The advent of new technology and data-driven analytics has led to many companies taking a more streamlined approach that relies more heavily on automation. In addition, as Gen Z enters the workforce in ever-growing numbers, companies are having to adapt how they reach out to potential candidates to ensure they can continue to find the top talent.
What does the future of talent acquisition look like?
We will likely see more data-driven hiring, but the human element will remain important. As companies compete to attract the best talent, an increasing focus on prioritizing the candidate experience will also play a role.
How much will AI affect the talent market?
It’s already having a big impact. Both employers and job seekers are using AI tools to help negotiate the recruitment process. If it becomes clear that AI is being widely used to game the system, we could see some traditional methods of candidate assessment become less popular.
Is talent acquisition better than HR?
Not better – just different. Ideally, both your talent acquisition and HR teams should work hand in hand with one another rather than in separate silos. It’s the best way to foster an inclusive company culture and ensure a consistent experience for employees.
