3 New Year job market predictions


job market predictionsWith increases in inflation and the cost-of-living crisis, companies may be more tentative when it comes to hiring, but that doesn’t mean securing a new role is impossible.

Here are 3 predictions on how companies and recruiters will use new technologies and strategies to hire new people in 2023 and offer tips on how you as a job seeker can prepare, to successfully secure your next career move.

Proactive Social Recruiting         

Social recruiting is where recruiters and hiring managers utilise social media channels to find top talent. Not only is it the quickest and most efficient way to match candidates to roles, but it is a much more cost-effective way of hiring too. It is expected HR and Recruitment firms will become more proactive in a bid to attract talent in advance of live roles, so it is essential you are visible online.

Job Seeking Tips

LinkedIn has over 875 million members and is one of the most effective powerful job search and hiring social media platforms. It is essential you have a LinkedIn profile as over 95% of recruiters and employers use LinkedIn to hire.

As Generation Z enter the work force, TikTok is fast becoming a popular social app with a younger demographic. It is being referred to as ‘Gen Z’s LinkedIn’, so you may find organisations looking to hire entry level roles or graduates recruiting here too, so watch this space!

With so many social media platforms available, it is important to consider which platforms are most relevant to you based on your experience and the type of company you want to work for. Whichever you choose, remember that it is still important to remain professional, so keep your social media profile/s relevant and as neutral as necessary, making sure to avoid controversial topics and viewpoints – remember that everything online is traceable – once it’s on the internet, it stays on the internet!

Recruitment Automation

Recruiters, agencies, and internal recruitment teams will continue to use AI in their recruitment processes to reduce lengthy administration processes. Applicant Tracking Systems (ATS) are extensively used by companies to make it easier to manage the recruitment and candidate selection process. As the job market continues to become more digital, Artificial Intelligence saves recruiters and hiring managers time and significant costs when shortlisting.  The use of Chatbots has grown too and are being used to pre-screen candidates as well as hosting pre-recorded video interviews.

Job Seeking Tips

As a job seeker this may be frustrating initially as it loses the human interaction. However, it does keep the process inclusive as it removes any human bias which in turn ensures all job seekers

are being treated equally regardless of age, gender or ethnicity.  Understanding how AI works and ensuring your CV is ATS compliant will increase your chances of being shortlisted.

Improved Rewards and Benefits

Companies are looking at ways to retain employees and are offering enhancing packages which can include healthcare and wellbeing, as an alternative way to provide a financial boost according to The Recruiter.

Therefore, you may notice salary levels remain the same but there are more rewards and benefits available. If you are looking for your next career move, you may need to consider the overall package rather than focussing on the salary. With more companies offering benefits such employee discounts, private healthcare, 4-day weeks or remote working, what you could be losing on salary you could be gaining back in other forms.

Job Seeking Tips

Research the company on LinkedIn or have a look at their organisation website.  Indeed Company Reviews  offer a company search function where you can access employee reviews, salary guidance and company profiles to understand more about the company, benefits and values.

Make a list of your wants and needs and non-negotiables so you have a clear job search strategy as you enter the market in 2023.

Renovo is the UK’s leading outplacement and career transition specialist. We work with both organisations and individuals to support all their career transition requirements. If you would like to understand how Renovo can help you please call 0800 612 2011 or email info@renovo.co.uk

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