How have you found your experience of hiring currently? According to Fortune, the “Great Resignation” is in the rearview mirror, while the Career Optimism Index found that employees feel replaceable (and therefore more likely to make a move).

To find out more about how to stay ahead of your competitors, we spoke to Seán Delea, Senior Manager of Talent Acquisition at Greenhouse. We’ll be joining Greenhouse for a fascinating webinar next month: How to build the ultimate candidate experience in 2024.

Here’s what Seán had to say about how to keep up with candidate expectations and land great talent for your business:

1. Increased attrition and backfill hiring

For Seán, we are already seeing the impact of this lack of appreciation in the talent market with an increase in backfill hiring: “Many companies are seeing a rise in attrition after a relatively low turnover rate in the last few years.” For example, 85% of people in America are considering changing jobs.

This is happening against the backdrop of an unfortunate spike in redundancies in particular industries, which has also impacted recruitment capacity, says Seán: “We have also seen through layoffs that TA teams are getting leaner. TA leaders need to think ahead about their ability to meet hiring needs if they see attrition spike.”

2. Market saturation with leaner teams

The recent increase in layoffs in these organisations have had another impact on the talent market which brings both benefits and challenges, says Seán: “There are so many candidates on the market right now due to layoffs. This has positives and negatives for TA teams. It means there is a strong pool of candidates to source from, but it also means that the number of inbound applications for roles has increased, which can be time-consuming to sift through.”

This is extra challenging when considering recruitment teams may be reduced, says Seán. Technology has a key role to play here to provide them with time to focus on strategic work: “With TA teams being more lean, are leaders looking at their hiring processes to evaluate what can be made more efficient? For instance, what can be automated and how can AI be leveraged?”

3. More personalised candidate experiences

What candidates want and have come to expect from their recruitment process has evolved quite a bit, shares Seán. He puts these changes in three categories – personalisation, transparency and flexibility. Firstly, he explains, “candidates expect a more personalised and streamlined recruitment experience, with timely communication and feedback at every stage.”

It’s also important to be clear and open during the recruiting process, from the moment of first contact: “Candidates are increasingly looking for transparency, including clear job descriptions, salary ranges and company culture.” Finally, it’s important to consider the rise of remote work, explains Seán: “Candidates value flexibility in work arrangements and may prioritise employers who offer remote or hybrid options.”

4. The use of AI to help recruiters

Like many other HR professionals, talent acquisition teams can benefit hugely from using AI to accelerate their most time-consuming tasks. Seán recommends introducing this in three distinct ways. Firstly, for content creation – think job descriptions, interview questions and sourcing messages for example.

Secondly, AI can save a lot of time by transcribing and summarising interviews. This frees interviewers up to fully focus on the candidate during the interview. It also makes completing interview scorecards easier and more efficient.

Overall, AI should be used to complement rather than replace humans in the hiring process, Seán explains: “It should help alleviate mundane, administrative tasks to allow TA teams to focus on candidate experience, stakeholder engagement and diversity.”

5. Finding new sourcing opportunities

It’s not just the candidate process that has changed, but how we actually find talent in the first place has evolved fundamentally. While personalisation and authenticity remain consistent and crucial for sourcing, Seán shares three ways in which it has changed:

  • Using AI within your sourcing process: This can be used to help build Booleans and generate sourcing messages. LinkedIn AI features can also help you to find suitable candidates.

  • Realising that hiring is a team sport: Smart leaders see this as part of their role, not just HR’s or TA’s responsibility. This leads to faster hiring, more engaged candidates and a more positive candidate experience.

  • Diversifying your pipeline: More and more, forward-thinking companies are realising that having a diverse workforce is not just an extremely important priority but a strategic business advantage.

6. Using more than salaries to attract

As most recruiters know, the actual money a hire will receive in their new role is only a small piece of the puzzle. Fortunately for smaller companies, there are many other ways to stand out from competitors that don’t necessarily involve having a huge budget available. Here are a few elements that Seán advises to consider may set you apart:

  • Flexible work arrangements: Offering flexible work schedules and remote/hybrid options can be attractive to candidates seeking better work/life balance.

  • Professional development opportunities: Providing chances for career growth, mentorship programs and access to training and development resources.

  • Company culture and values: Building a positive work culture that prioritises diversity and inclusion, along with employee wellbeing, can help attract top talent.

  • Perks and benefits: These can include wellness programs, stock options, health benefits and generous leave policies. Offering a comprehensive benefits package can enhance overall employee satisfaction and retention.

This blog post was written by Personio. You can find them in the Software Suppliers area of the website here.