The global marketplace continues to constantly evolve. If you’re looking to expand your US or UK-based business, it’s important to stay aware of international nuances, business growth patterns, and talent acquisition trends in business — particularly in Human Resources.
In order to attract top talent for your growing business, you need professionals who understand the global talent acquisition trends in 2023. True knowledge of trends can help you employ the most effective strategies when it comes to talent recruitment. In fact, an excellent consultant can even help by adapting HR strategies for the 2025 workplace and beyond.
Whether you choose to dedicate in-house employees to developing these strategies, or you outsource your HR needs, you should create actionable plans around current talent acquisition trends.
Global talent acquisition and strategy trends of 2020-2022
In 2020, the COVID-19 pandemic impacted us all. As multiple countries went through shutdown periods, remote work grew in demand. Freelance workers, especially, found ample international professional opportunities that didn’t necessitate relocation.
Zoom calls became the go-to for work conferences, and many businesses discovered that some day-to-day operations could be addressed off-site. HR professionals found they could remotely schedule and conduct all meetings and interviews.
From 2020 to 2022, global talent acquisitions and strategies included:
The appeal of remote work
As the pandemic impacted the world, remote work opportunities became both a trend, and a strategy to recruit top talent. Many businesses that were formerly in-office only began to offer remote or hybrid opportunities in order to attract top talent.
Competitive benefits and salaries
According to a LinkedIn study, employees in the 2020s consider benefits packages and compensation as their top priorities. This trend began in 2020, but continues in 2023.
HR professionals should deploy strategies to ensure their benefits and salary offerings are in line with, or greater than, those of their competitors.
Preparation for economic downturn
Business growth slowed down significantly, and the supply chain faced major disruptions. Thus, many employers became more selective in their talent acquisitions as they focused on retaining their current talent.
Work-life balance
The LinkedIn study also shows that the current talent pool is concerned with a balanced approach to their professional lives. Employer strategies to optimize this talent acquisition trend can include Mental Health Days or other benefits that offer support for and promotion of life balance.
Opportunities for growth
Employees indicated that training opportunities to “upskill” (acquire new skills) were important points in their job selection process. Top Human Resources professionals can ensure this occurs by strategizing upskill programs to implement for acquired talent.
Although these talent acquisition trends are still in place in 2023, the methods to attract top-tier talent for your business are constantly evolving. It’s vital to remain knowledgeable about these methods, and to strategize accordingly.
Create talent retention strategies
Retention strategies can help increase your appeal to new talent, and can keep your current team satisfied. Implementing these strategies can have a direct correlation to employee performance and productivity as well.
Indeed, you may find that you can boost employee morale through strategies for retaining talent in startups. For example, a choice to implement a wellness program for your remote employees may hold appeal for both current and potential staff members.
The newest trends of 2023
In 2023, global talent acquisition trends have quickly become apparent. You should have dedicated HR professionals focused on creating actionable strategies to follow these trends.
Enhancing remote team performance through diversity and inclusion training can help you acquire and retain the best talent.
These trends include:
- Data-driven recruitment: Base your recruitment strategies on proven data and facts. This includes tracking the success of current acquisition trends, and using statistics to inform your hiring processes.
- Prioritizing diversity: As the global market becomes closely connected, inclusive, and diverse, your workplace should also reflect diversity. Hire talent who can provide you with multiple perspectives and innovative approaches. A diverse work team can also offer unique, fresh takes on how to grow your business.
- Increased globalization: Recruiting from an international talent pool will increase your ability to employ professionals with unique insights and perspectives. Remote work has made global employees a reality. As you look to expand your business into European countries, acquiring native talent can help ease your transition from a US or UK-only market.
- Investment in soft skills: A rigid adherence to hard qualifications only is a faded talent acquisition mandate. Ensure that the HR professionals you hire get to know the candidates they interview. Soft skills should hold equal weight to technical qualifications in your hiring process.
For example, a potential candidate who is well-rounded and has an interesting and lengthy resume, and is a quick learner (but doesn’t meet all of the hard skill requirements) may prove an outstanding, successful job performer. Similarly, a highly-qualified candidate who looks good on paper but has a poor attitude may prove a disastrous hire. - Teachable talent: In this acquisition trend, a focus on talented candidates, who recognize their room for growth and display a willingness to learn and be trained. now outweighs a lengthy resume. Teachable talent goes hand-in-hand with soft skills.
What is the top emerging global acquisition trend of 2023
One of the top emerging trends in 2023 takes a fresh look at global market expansion. Specific focus on emerging markets as places to recruit and acquire talent can widen your pool of desirable candidates.
If you’re expanding your business in a country with a lack of qualified candidates, looking at emerging markets for your specialized field can ensure that you find the best possible additions to your team.
A pwc.com emerging market study found that talent acquisition will become one of the scarcest resources in the developed world. By looking for qualified candidates in emerging markets, you draw from a rarely tapped resource. You also give job seekers opportunities they may not have in their native countries.
How these trends should impact your business strategies
With global calamities, new cutting-edge technology, and economic downturns, the business world is in a constant state of change. If you’re looking to expand your global operations, you need HR professionals who can keep pace with talent acquisition trends. A consistent evolution of strategies related to your market, including those surrounding remote training, employee wellness, and succession planning for family-owned businesses, can help your business to grow and retain the talent your team deserves.
What are the greatest challenges of talent acquisition in 2023?
Unfortunately, some challenges still surround talent acquisition in 2023. It’s important to keep these in mind as you develop your hiring and recruitment strategies. Some of the greatest challenges facing businesses in 2023 include:
Demand for remote or hybrid-work
Many employees had their first exposure to remote work environments in 2020, and found that they were more productive and experienced less stress when working from home. As more employers mandate a return to the office, employees are pushing back.
A study from Open Text states that by 2025, 75% of all global organizations will be forced to allow for hybrid or flexible work environments.
Continuation of “The Great Resignation”
Employees who feel undervalued, undercompensated, and unheard continue to do the bare minimum in order to keep their positions. Even if you hire qualified, talented candidates, if your HR policies don’t account for these issues, you may find yourself with a team of “quiet quitters.”
Lack of communication
Gone are the days of silence through the interview process: Potential talent will no longer abide by this practice. Nonetheless, businesses continue to misstep with recruitment communication.
If you’ve chosen to move on from a candidate after the first interview, let them know. If a second interview will take time to come to fruition, let the candidate know. Delegate this communication to your HR team.
How Europe HR Solutions can help
At Europe HR Solutions, our team of Human Resources professionals understands global talent acquisition trends and strategies in 2023. We can help guide your recruitment process and implement detailed, actionable plans to hire the best talent for your needs.
Our team is on the cutting-edge of talent acquisition trends and will create hiring strategies that allow your US or UK-based business an easy transition into the European market.
You need to be able to focus your attention on the success and growth of your business. Let us help you attract the candidates you deserve to have on your team. Europe HR Solutions can take care of your talent acquisition, connect with us today.
