For many, the start of a new year signals an internal trigger point to make a change – healthier eating, starting a fitness journey, giving up bad habits and often, changing careers.
With many employees in the same position, and if the trend of the Great Resignation continues, the candidate market can open up some interesting opportunities this year.
As always, the recruitment market is likely to see some nuanced shifts, as existing candidates change their priorities, new candidates enter the market and macro-factors alter the way in which the market trends.
So, what might the recruitment landscape look like in 2023?
Empowerment amongst candidates will continue to grow
The post-COVID revisionism of mental, emotional and physical health has impacted the way in which employees prioritise their life, and the way in which their work aligns with these priorities.
This will be at the forefront of many candidate concerns when looking for a new job this year – a role, and company, that aligns with their personal desires and emotional and mental wellbeing.
As a recruiter, this may take the form of candidates who want:
- A better work-life balance
- More wellbeing-centred benefits
- Increased salaries to cope with the cost-of-living crisis and other economic difficulties.
In addition, when considering the Government announcement in December last year, that millions of employees in Britain will be able to request flexible working on day one of employment, candidates are perhaps more empowered and in-tune to their priorities than ever.
As a recruiter, it will be even more important to consider what is important for your candidates on a holistic level, as they become more vocal about their desires within their new role.
Generation Z continue to enter the workforce
The candidate landscape changes to some extent every year, and 2023 is no different. Amongst a number of changes, Generation Z candidates will continue to enter the workforce, with some Baby Boomers retiring.
This means that as a recruiter, you need to ensure that you are in-tune to what these younger candidates care about, and make sure that they are engaged throughout the process.
Gen Z are no different from the rest of the workforce, in that they will also care about the factors mentioned above. But, some other areas that this generation are becoming increasingly vocal about include:
- Corporate social responsibility
- Equality, diversity and inclusivity
- Company engagement and culture
- Disengaged, in some cases, by long-winded, traditional hiring processes
- They increasingly care about the long-term impact of the role, beyond getting experience for the sake of it.
At the same time, recruiters should also be cautious that some candidates of older generations may be concerned of unconscious bias because of their age, or that roles and changing hiring processes may start being aimed primarily at Generation Z candidates, leaving them in a negative position. As a result, the important takeaway for recruiters is that they need to be mindful of how the candidate market is shifting, while maintaining a fair and valuable proposition to candidates of all ages.
Approach the impacts of the economy (and potential recession) with caution
A recession is unfortunately looming in the UK, and naturally, economic recessions are associated with downturns in recruitment rates. With many companies seeing profits dip during a recession climate, this can lead to smaller budgets and recruitment freezes – both of which lead to less hires being made.
However, this may be different this year – unemployment rates continue to drop, and a huge proportion of businesses across the country have labour shortages – meaning that desires for new recruits may not wain even in this economic difficulty.
Employers may in fact see temporary candidates as the perfect solution this year – more flexible, lower-cost and lower-risk, all of which are of increased importance during an economic recession. As such, this nuance in the recruitment landscape would mean that recruiters could benefit from focusing their sales and marketing efforts on temporary roles, rather than permanent, if a recession does occur.
Regardless, the recruitment landscape in 2023 will see some interesting trends, and both employers and recruiters need to stay in-tune to these developments, to ensure that they continue to provide the best proposition to all candidate segments.