With only a few weeks left until the new year, companies are looking toward new recruiting practices and trends for 2024.
Recruiters are the crux of an IT business. They keep a keen eye out on the job market, seek innovative candidates, and make sure to market their companies in ways that will allow their best products to stand out within a tenacious tech market. These individuals, as well as recruiting software, are so paramount to company culture that over 90% use them.
Perhaps the words of the late tech giant Steve Jobs best emphasize recruiting effectiveness:
“The secret to my success is that we have gone to exceptional lengths to hire the best people in the world.”
Recruiters are tasked with hiring candidates that best fit within the company culture and can excel business interests to new heights. However, the hallmark of a great recruiter is to be able to pivot toward the current trends and expectations of the market.
As we look ahead to the new year, we examine recruitment trends set for 2024.
Recruiting Automation
Digital tools have become a popular mechanism for recruiters. AI technology has been proven to ensure your company reaches top prospects. In a recent study, 79% of HR currently utilize AI technology during recruitment. By 2028, AI recruitment software is expected to grow to a market size of 1.2 billion.
Pay Transparency
Ten U.S. states have currently passed pay transparency laws, with over a dozen states waiting to have bills signed. Pay transparency laws promise potential candidates access to pay information, require employers to disclose individual pay information to employees, advertise salary information in job postings, prohibit employers from requesting salary history, create an independent body to provide equal pay certification, oblige enterprises to publish gender and pay information, regularly audits on gender and pay, undertaking pay assessments, and promotes equal pay discussions.
55% of job seekers and 64% of Gen Z applicants won’t apply to a job posting that lacks wage or salary information. These numbers are expected to rise as more states consider pay transparency laws.
Diversity
A diverse workforce culture feeds the innovation and creativity that IT employers yearn for.
76% of US workers say inclusivity is a key factor in considering employment. Due to candidates craving a non-monolith environment, it is good practice for recruiters to highlight their company’s commitment to diversity and inclusion. Furthermore, racially diverse organizations are 35 percent more likely to outperform their peers.
[Read more on why diversity and inclusion is essential for hiring]
Gen Z entering the workplace
Beginning in 2024, Gen Z is expected to overtake Baby Boomers in the US workspace.
Gen Z’ers are expected to account for 27 percent of the workforce by 2025. This change will usher in a new wave within the economy, with the younger generation prioritizing different expectations within the workplace. Thus, antiquated recruitment methods most likely won’t be well received by a younger generation that will expect the hiring process to be virtual and fast-paced. This most likely explains why 61% of recruiters expect video interviews to take over as the norm moving into the new year.
Battle of Remote Work
90% of companies plan to implement return-to-office policies by the end of 2024. However, an overwhelming 98% of people who currently work remotely say they want to keep it that way. This has created a stark disconnect between what candidates want and what employers say they need. Recruiters will have to come up with a middle ground that will benefit their companies and new hires who are used to working in a virtual space.
Conclusion
These 2024 recruitment predictions will help recruiters seek out premium talent to stay ahead of the curve on upcoming trends. By focusing on recruitment software, keeping abreast of pay transparency laws, diversifying company culture, accepting younger talent, and hearing the requests for remote work, recruiters seeking out talent in tech careers will have an advantage as we head to the new year.
– Rachel Estes
(Staff Writer)
