Insights Blog

Sharing our perspective on the world of talent and hiring.

Hiring & staffing trends to watch in 2024

Where are people looking?

  • 58% of hiring decision makers surveyed by Google identified large recruitment sites as the top sources for finding highly qualified candidates (more than their company career pages and employee referrals).
  • 44% of active job-hunters or those open to work (that is, not actively searching but available to consider new opportunities) said they started their journeys with internet search engines.
  • 92% of active job seekers identified large recruitment sites as their top source when conducting in-depth research into new opportunities, and they use them at least monthly.

Source: SloanMIT

What do Job seekers want?

  • 43% cited upfront access to salary ranges as the top capability on recruitment sites.
  • 39% the ability to upload a resume with one click
  • 37% the ability to apply for jobs directly through the platform

Source: SloanMIT

What are skills to look for?

The general sought-after skills that employers are seeking are:

  • Communication
  • Customer Service
  • Leadership
  • Attention to Detail
  • Collaboration
  • Personal Learning & Mastery
  • Achievement Focus
  • Cultural and Social Intelligence

Shift to Skills

  • Skills-based hiring is up 63% in the past year as more employers value experience over academic qualifications.
  • The number of jobs requiring a college degree dropped from 51% in 2017 to 44% in 2021

Source: Forbes

What about AI?

  • 58% of hiring leaders and 52% of job seekers agreed that it’s important for large recruitment sites to use AI in the search process.
  • Hiring decision-makers indicated the top use cases for AI are:
    • matching,
    • screening, and ranking of applicants
    • personalization to encourage qualified candidates to apply

    Job seekers indicated the use cases for AI are:

    • identifying/removing out-of-date or closed positions
    • matching or recommending best-fit roles based on qualifications and experience

    Other emerging AI use cases to look for:

    • AI-generated:
      • job descriptions
      • emails to candidates,
    • AI chatbots and assistants
    • AI-powered marketing to acquire more high-value customers.

    Source: SloanMIT

    What issues are top of mind?

    • Talent shortages – the workforce is aging, leading to persistent labor shortages.
    • The need to revisit talent strategies (see talent strategies)
    • The need to embrace a more inclusive talent architecture referred to as “skills-first,” an approach that prioritizes skills over degree credentials when specifying job requirements and assessing candidates.
    • More companies may return to in-person work –  This is supported by the EY Future Workplace Index results for 2023 that indicates employees are being required or encouraged to work in the office at least two days per week, with the highest percentage (32%) indicating three days a week.
    • People are choosier and want to see alignment between how they want to work and how companies are managed.

    Source: Harvard Business School, trends to watch in 2024

    Talent strategies – staffing as a strategic asset

    In the Staffing Industry Review, it highlights how staffing is evolving, technology is more critical and market conditions require savings and quality to be balanced.

    Staffing is evolving
    • Statement-of-work spend,
    • Leveraging direct sourcing or adopting global resource tracking,
    • Programs that provide transformative, turnkey solutions via transparency and control
    Technology & optimization

    The most critical differentiator among high-impact, results-driven programs are:

    • Technology selection,
    • Integration and
    • Optimization.

    However, technology must be aligned with the overall strategy to achieve goals.

    Market conditions

    Focus on performance-based supplier optimization combined with volume-based pricing to achieve savings and high quality talent

    Conclusion

    These trends reveal that there is a shift in how, what and when talent is engaged to strategically and proactively build an extended workforce. Being prepared for these shifts can empower you to plan, save time and costs, and be competitive. If you need help understanding the future of the extended workforce, Curasion is here to chat.

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