The Future of Recruiting: Priorities and Investments for 2024

Feb 28, 2024

With all the headwinds recruiting teams have seen in recent years, how do they perceive the coming year and what investments will they make going into 2024? The good news is that HR decision makers and recruiters are both realistic and optimistic for the future of recruiting.


Recruiting outlook

Based on data from the 2023 Employ Recruiter Nation Report, more than half of talent professionals (57%) believe within the next 12 months, hiring new employees will be at least somewhat challenging, mostly because there are not enough quality candidates (58%), because of competition from other employers (46%), fewer recruiters or recruiting resources (43%), and more employees leaving the organization (41%).

The challenge of not enough quality candidates is anticipated more within SMBs (63%) than at large enterprises (48%); however, more than 4 in 10 recruiters from enterprise companies believe they will have more open roles to fill (42%) versus 23% at SMBs.


Recruiting volatility

When it comes to fluctuations in the coming year, recruiters have mixed opinions. While one in three recruiters do not believe the next 12 months will be volatile in recruiting, half of all talent acquisition professionals do think hiring will be turbulent into 2024.


The future of recruiting

At the same time, HR decision makers are extremely optimistic about the future of recruiting. An incredible 86% of talent practitioners shared that they are positive about what the future of talent acquisition holds, while only 8% are not. So, while volatility is expected, optimism remains.


Where talent teams plan to invest in 2024

Investment outlook

One important consideration for talent acquisition teams is the ongoing investment made to their function. The good news: investment in recruiting will likely increase or remain stable in the coming year.

Over the next 6 to 12 months, an overwhelming majority of talent acquisition professionals expect to either increase (61%) or keep their recruiting spend the same (29%). Spending increases are more likely expected in medium-sized companies (70%) versus 58% at enterprises and 47% in small businesses.

Talent teams that plan to increase their recruiting spend will most often do so by increasing their budgets for new recruitment technology purchases (50%), expanding existing recruitment technology stack (47%), new recruiting team role hires (47%) and job advertising (47%), investing in additional team training (46%) and investing in recruitment process outsourcing (RPO) (43%).


Technology investments

From a technology perspective, more than half (59%) of the budget increase will come from AI-powered recruiting tools, followed by diversity, equity, and inclusion (DEI) initiatives (50%), candidate relationship management (CRM) (48%), applicant tracking systems (ATS) (47%), career site (39%), sourcing technologies (36%), job boards (34%), and offers and onboarding (30%).

No matter where each organization falls, continued investment should be a priority to help recruiters feel more supported in their roles. Business and talent acquisition leaders must support recruiters in reducing manual tasks through recruiting AI and automation technology, so recruiters can do what they do best — focus on the human aspects of recruiting.


Diversity, equity, and inclusion (DEI) initiatives

Candidates today are emboldened more than ever to seek out roles and companies that match their own values. They want a supportive and inclusive workplace culture that affords equal opportunities to each team member and makes people feel included in the success of the business. In a competitive hiring environment, companies must clearly communicate their commitment to DEI and demonstrate program effectiveness to attract top talent.

And when it comes to investment for 2024 hiring initiatives, three quarters (75%) of HR decision makers reported that their organization will place more emphasis on diversity hiring.

Recruiters who have been successful in attracting talent indicate they focus on the diversity, equity, and inclusion (DEI) efforts of their organization. This enables recruiters to connect with candidates who recognize the value of these initiatives in the workplace.


Specific areas for improving diversity hiring

Looking to 2024, talent teams report that the top three areas their company has specific goals to improve in diversity recruiting are race/ethnicity (47%), gender (44%), age (36%), and LGBTQ+ (26%). But there still is a long way to go. With nearly one-third of talent teams indicating they have no specific goals, it will take continued focus and consistent efforts to improve DEI for the long-term.

Businesses that have a wide diversity of representation in employee ability, gender identity, ethnicity, neurodiversity, familial status, and personal beliefs are more likely to succeed in their industries compared to others that don’t.

It’s become a key metric for success that it’s now an evaluation category for the Fortune 500 list, reminding companies just how important it is to consistently improve their organizational DEI — and proving that the best lead by example.


Recruitment process outsourcing

Recruitment process outsourcing (RPO) provides a different approach to recruiting. RPO is when an organization outsources or transfers some or all of its recruitment process to an external partner.

An RPO provider acts as an extension of an organization’s talent acquisition team and offers scalable resources to fill open roles quickly and efficiently. The RPO team works directly with the internal HR team, hiring managers, and the business to define recruitment success and executes against agreed upon objectives to achieve successful outcomes, including time to fill and quality of hire.

According to Employ data, 55% of HR decision makers are considering outsourcing recruitment in 2024. And while RPO is not for everyone, a growing number of companies are looking to RPO to ensure they stay competitive in an unsteady job market.

One of the main benefits of working with an RPO provider is that it frees up internal resources so that the business can focus on other strategic talent acquisition priorities. RPO teams also ensure internal talent teams have real-time information and data on requisition health, and other key performance metrics, including time to hire, quality of hire, recruiting efficiency, source yield, and daily activity to keep the business in the know and able to report on recruiting effectiveness.


Move forward with confidence

Talent teams have tackled unimaginable challenges caused by global events, labor market changes, and economic conditions. Looking forward, the opportunity for talent acquisition is limitless. And it’s why talent acquisition professionals remain optimistic for the future.

As your team forges ahead, leverage the latest in industry research and insights to do so with confidence. Download the 2023 Employ Recruiter Nation Report: Moving Forward in Uncertainty.


Source:  https://www.jobvite.com/blog/the-future-of-recruiting-priorities-and-investments-for-2024/


15 May, 2024
Development matters to employees, especially amidst today’s rapid advances in technology. In fact, 67% of professionals say they get less training than they want on new AI tools, and 41% of employees agree they’ll look for a new job in 2024 if they don’t get the training they need. (1) At the same time, more and more managers report that they don’t have the skills to meet the demands of the modern workplace. (2) That highlights how essential employee development programs are for companies that want to support their team leads and foster future organizational leaders. If you’re still not convinced that you should prioritize development, consider this: According to LinkedIn’s recent Future of Work Report, AI will likely change the skills required for our jobs by 65% by 2030. (3) A well-constructed employee development program is indispensable for organizations that want to upskill their best talent, promote internally, engage team members, and future-proof their companies. Still, development programs take collaboration at every level to be effective. In this in-depth guide to creating an employee development program, we’ll cover: What an employee development program is How it differs from employee development plans Why implementing one matters Seven steps to establishing an effective development program ‍ 📈 Align development programs with employee needs Our Competency Frameworks integrate with Leapsome Learning, allowing you to design courses based on the skills your employees need. 👉 Learn more TalentLMS and Vyond , 2024 Gallup , 2023 LinkedIn’s Future of Work Report , 2024 ‍ What is an employee development program? An employee development program is a training curriculum that organizations design for all staff members or a specific department or team. While every company may create employee development programs to address different issues or gaps, some classic examples include: Orientation and onboarding Management training One-time training related to specific topics or events Regular, company-wide professional development workshops and conferences The great news is that you can create an employee development program about anything you need to address at a department or company level. For instance: Building a time management training program if your employees need help organizing their time effectively. Designing a finance-related program to help employees understand their compensation package and manage their money. Starting a mentorship program for women, people of color, and other underrepresented groups as one of your diversity, equity, and inclusion (DEI) initiatives. ‍ Employee development programs vs. plans: What’s the difference? An employee development plan, unlike a program, is an individualized path that companies create on an as-needed basis It can be confusing to distinguish between employee development plans and programs. You might even wonder whether the difference matters, but it does — because creating a personnel development program is much more costly than setting up an individualized plan. An organization might create an employee development program to address recurring issues or challenges like onboarding or leadership . For instance, managers may notice that many employees report the same hurdles, like a long learning curve with specific tools or a need for mentorship. As a result, they might decide to create a development program to address these concerns. On the other hand, a manager or team lead may create an employee development plan for a specific group of team members or individuals. Think of a performance improvement plan that leadership might implement for employees who don’t meet workplace expectations. Alternatively, a team lead and their report may work together to create a plan around that employee’s specific goal, like improving their communication or writing skills. So, breaking it down, employee development programs: Exist for all employees, a specific department or team, or a certain subgroup of employees Are created once to address recurring needs and challenges May run on a specific schedule, where applicable Likely won’t need much managerial or leadership oversight In contrast, employee development plans: Exist for an individual or a select few people Are created to address a particular challenge or meet a particular goal Can be implemented on an as-needed basis and don’t need to follow a specific structure May require more managerial or leadership involvement ‍ ⭐️ Create a culture of development for your people Whether you’re designing a development program or an individualized plan, Leapsome Learning has the courses, paths, and automated workflows you need. 👉 Learn more The benefits of an employee development program Leapsome’s Competency Framework feature helps companies create more clarity about the professional skills team members need to advance Demonstrating your employee development program’s return on investment (ROI) to your organization’s leadership isn’t easy. However, creating one is well worth it. Development programs can help you: Increase employee engagement and boost retention rates — Professional development is a key driver in employee engagement and retention . That’s because the right training equips employees for their current roles and helps people establish and work towards specific career paths and opportunities. ‍ Build a more diverse and equitable culture — If you want to foster a diverse, inclusive workplace, creating an employee development program is a great place to start. Doing so closes skills gaps between employees who belong to underrepresented groups and their peers. Listening to team members from diverse backgrounds is essential to helping you determine what kinds of training you should prioritize. ‍ Instill a growth mindset — If you want your business to expand and thrive, you need a driven team that wants to grow together. Development programs help create a solid foundation for an ecosystem of learning and advancement . Still, you must develop your programming in collaboration with managers , leadership, and team members so everyone is involved. 7 steps to establishing an employee development program that helps employees thrive With a step-by-step plan, putting together an employee development program doesn’t have to be a daunting task Share this infographic on your site Simply copy the code snippet below and paste it into the HTML of your web page. Please include attribution to Leapsome. ‍ It’s often the managers’ job to initiate the process of creating development programs for employees, so if your organization hasn’t created a structured process or roadmap for such a program, you might not know where to start. In that case, we recommend following the subsequent steps to establish a successful development program. ‍ 🏗️ Start your development planning on a firm footing Use Leapsome’s AI-powered Competency Framework to generate a growth roadmap for every role in your organization — with only three inputs. 👉 Learn more 1. Take stock of your company & departmental OKRs Use a platform like Leapsome Goals to create company and team OKRs to inform your development programs If you’re in a managerial or leadership position, avoid creating a personnel development program in reaction to a problem. You’ll have much more success and get company-wide support for your professional development initiatives if you base them on your company goals, objectives, and key results (OKRs). Connecting your employee development program with your OKRs helps align company goals and initiatives to ensure you’re moving the needle forward effectively. Another reason to bring development into your OKR review and iteration process is that it’s already collaborative. So, it’ll naturally prompt you to work with leadership, team members, and even cross-departmental stakeholders to ensure your ideas are meaningful and realistic. That way, when it’s time to implement your OKRs — which in this case would include creating a training program — you’ll have the support and backing you need. ‍ 2. Do a needs analysis to identify skills gaps There are a few ways to go about performing a needs or skills gap analysis for your employees, but here are a few methods you can use: Analyze previous employee surveys and questionnaires — Make sure you evaluate the answers to open-ended questions as well as responses where employees rated their experiences on a Likert scale from one to ten. ‍ Review data from previous exit interviews — Get valuable insights into why your previous development initiatives may have failed and how you can improve them in the future. ‍ Revise the core competencies listed in your current job descriptions — Are those qualifications still sufficient for the role, or do they need to be modified or added to in any way to make your employee development program more relevant? ‍ Ask for direct observations from managers — Managers can speak directly to gaps they notice in team members’ performance. They may also identify soft skills that could make internal operations more efficient. ‍ ‍ Study previous performance review and performance objectives data — Performance reviews and objectives can help determine where employees need to develop in line with their current roles and aspirations. ‍ 3. Ask employees for feedback Leapsome Surveys makes gathering employee feedback easy with customizable templates and AI tools that summarize data quickly If your organization is dedicated to helping staff members better themselves professionally, regular employee feedback should be part of your development programs. And you need to ask about the right things, too. Here are some questions we recommend including in an employee survey about development: Are you satisfied or dissatisfied with our current training programs? Can you explain why? ‍ What do you value about our current training programs? ‍ ‍ What soft skills would you like us to prioritize in future development programs? Choose as many as you’d like: — Time management — Collaboration — Leadership — Critical thinking and problem solving — Creating a more inclusive, equitable work environment — Innovation — Flexibility and adaptability — Empathy — Assertiveness ‍ How often would you prefer development and training to happen? Please choose only one: — Once a month — Once every three months — Every six months — Once a year — As needed ‍ What learning methods or modules do you prefer? Please rank them from one to eight, with one being your most and eight being your least preferred: — Video training — Webinars and lectures — Simulated environments — Podcasts and audio — Online articles and resources — Structured courses with learning modules — Role-playing — Print resources like textbooks or manuals ‍ Where do you prefer to learn? Please rank them from one to five, with one being your most and five being your least preferred: — With an instructor, in-person — With an instructor, remotely — A hybrid of in-person and virtual training — Online, but self-paced — Offline, but self-paced As you process employee feedback, keep an open mind and think critically . You won’t be able to approach all knowledge or skills gaps with the same solution. For instance, even if most of your employees prefer online, self-paced training programs, that may not be the best way to address your team members’ needs. ‍ 4. Evaluate your training options against your available resources Now that you’ve collected executive, managerial, and employee feedback, you should have some sense of the training options that would work best for your employee development program. However, before deciding which type of training to implement, assess the resources you currently have at your disposal. These include: ‍ Budget — First, determine how much it would cost to train one employee. Then, multiply the number of employees you’ll be training by the cost of that training to determine your total expenses. If your calculations show you’ll go over your current budget, talk to your leadership team to determine if there’s a workaround or ask them to adjust it. ‍ ‍ Time — Consider how long it’ll take for employees to learn and gain confidence with their new skills, and ensure you’re using their time wisely. If your employees find training too time-consuming, it may demotivate them and make them feel it’s only interfering with their other duties. You may ultimately favor a short, hour-long webinar or single-day seminar to minimize the impact on employee schedules. ‍ ‍ Return on investment — It can be challenging for managers and HR professionals to prove that training programs boost metrics like productivity and profitability. However, employee development tends to positively impact job satisfaction and engagement, improving output and enhancing business performance. That means you can use your engagement scores to indicate a good return on investment. ‍ 5. Report your training plan recommendations to stakeholders Securing stakeholder support is essential before proceeding with any employee development programs. Keep in mind that stakeholders likely don’t have as much visibility over your team and employee training needs as you do, which means they may be more invested in staying under budget and minimizing their time commitment. Be sure to anticipate these or similar questions from your leadership team and other stakeholders: Are we already offering similar training on that subject? Can we combine these training sessions? Does this training need to be provided company-wide, or is it only applicable to a select group of employees? Would it be possible to conduct this training session 100% remotely? Do we already have an in-house expert who could lead a short training, rather than having to pay an external expert? How long will it take for employees to achieve proficiency after the training? Will this training be mandatory? And if not, how will we motivate employees to complete it? ‍ 6. Design incentives for employees to complete your program Employees will want to know whether your company’s training sessions and personnel development programs are mandatory. Even if they find your courses useful, some team members will need extra motivation to complete them. For instance, we recommend making your training and development program part of your employee competency frameworks and promotion criteria . Employees should know they’ll have to complete specific training before advancing to another role. As an additional incentive, consider setting up a rewards and recognition program for employees who complete certain training milestones and demonstrate proficiency with their new skills. You could even harness the power of healthy competition and design a contest around one of your training programs, for example, by dividing your trainees into teams and seeing which group accumulates the most points on quizzes. ‍ 7. Make space for practice & mentorship Employees need time for practice and mentorship before they can become proficient with a new skill It doesn’t matter if your employee development program focuses on nurturing hard skills or soft skills — team members need time to practice. Think of training sessions as introductions to skills rather than exhaustive courses. Indeed, people will need time to grasp all the applications of the learning material. With this in mind, managers should anticipate that it’ll take staff a few months to build proficiency with their new skills. That means incorporating those months into your employee development program’s timeline. You should also reinforce any training with coaching and mentorship . Ask team members who have more experience with a certain skill to check in with your trainees. Peer-to-peer mentorship is particularly important for skills like coaching, leadership, and communication, which often require more interpersonal guidance, exchange, and experience to improve. ‍ Upskill your workforce the right way with Leapsome Leapsome’s Competency Profile shows soft skill assessment scores, as well as how peers, direct reports, and managers rate someone’s performance Well-designed development programs are a win-win for companies. While they may require organizations to invest time and resources upfront, they empower employees with the competencies they need to advance professionally. Not to mention, they enable businesses to lay the right foundation for future leadership. Still, you can’t create robust development programs for your employees without collaboration, transparency, and data. Thankfully, Leapsome has the customizable templates, automations, and analytics you need to design an engaging employee development program. Our AI-powered Competency Frameworks enable you to generate a customizable skills matrix for every role within your organization with only three prompts, saving leadership time and energy. It also seamlessly integrates with Leapsome Learning for customizable course creation — and our Learning Marketplace , which offers a wide range of high-quality pre-built courses you can incorporate into learning paths. What’s more, in-depth data from Leapsome Reviews and Goals mean it’s simple to track development and measure the impact of your training programs. With Leapsome’s holistic suite of people enablement tools, it’s never been easier to take a data-based, people-centric approach to employee development. ‍ 🔥 Develop better employee development programs by leveraging data and collaboration Leapsome gives you access to the data you need to identify skills gaps and create more effective training programs. Source: https://www.leapsome.com/blog/employee-development-program
15 May, 2024
Why does it take so long to get things done around here? Everybody wants agility. Everybody thinks they understand it. Nobody actually has it. Leaders know this. And employees know it too. Gallup finds that 18% of U.S. employees say their company is agile. What agility really defines is a desire -- a desire to move faster, change faster, and deliver faster in response to a marketplace that is moving, changing, and demanding more than ever before. But the concept of agility alone doesn’t help leaders identify the challenges to speed and innovation in the modern organization . Here are the three biggest challenges to agility: 1. Ambition Colliding With the Matrix In most workplaces, every person is juggling an ambitious to-do list. They have a lot to get done in a day, a week, a quarter. If people are talented, they are even more ambitious. But the reality is this: Over eight in 10 U.S. employees are matrixed to some extent. That means that, in nearly all organizations, the people someone needs to get their to-do list done have different priorities than they do. One person’s No. 1 priority is another’s No. 10; that person’s No. 1 is another’s No. 10. Someone needs to meet with a client, while someone else needs them to decide on a plan for a future event. A team can’t proceed on a project until they get signoff from a stakeholder, but that stakeholder is troubleshooting a production line issue. This mismatch of combining ambitious lists with matrixed collaboration means less gets done. The solution? Leaders must ensure alignment of priorities across teams, fostering a collective focus on what’s important. When matrixed teams have the same priorities, they are ready, present and able to get much more done. Only about two in 10 U.S. employees strongly agree that the leaders in their organization have a clear direction for the organization. A leader’s responsibility is to align priorities between disparate teams and identify low priorities to cut. 2. Decision-Making Too Far From the Customer Agile workplaces focus on and prioritize creative solutions for the customer. An employee working in an agile workplace understands the customer, knows the customer’s problem and has the authority to solve it. They have permission to get the work done; they don’t have to ask 20 people for approval first. If the answer is, “I’ll have to get approval from my supervisor,” an organization isn’t agile. If the answer is, “Let me fix that for you now,” it’s agile. For teams to move faster, the decision point needs to be moved closer to the customer. Leaders should identify decision points and decide if they can move them closer to the action. Why doesn’t this happen? Because moving decision-making down the organization means giving responsibility and ownership -- and therefore risk -- to others. Real power is the power to fail and make mistakes. People often give up their own agency and pass it on to their supervisor if they are afraid of making a mistake. Shifting responsibility to someone else may avoid mistakes, but it won’t build a creative or courageous workplace culture. Leaders have to create a culture where it is OK to try and fail . 3. Waiting for “Perfect” Employees might want multiple levels of approval for another reason: They aren’t sure the final product is perfect. Fear of not being perfect can lead to endless cycles of minor improvements or repeated checks for validation from leaders. Both of these habits slow productivity. Embracing the concept of the “Minimum lovable product” encourages teams to release imperfect but functional products, inviting the customer to help co-create the final version. It means taking the mindset that the customer will help us find “perfect.” When done well, this strategy can lead to unexpected innovation. Teams aren’t on the hook for thinking of everything; instead, they can focus on listening to and responding to customers -- the very thing an organization needs to become more agile. Putting It All Together Modern organizations often approach work like a relay race, with one person running while others watch, eagerly waiting for their turn. However, a more effective approach is comparable to a football play, where every player is in motion at the same time. They are all doing different tasks, but those tasks work together toward a single outcome. Aligned priorities across roles, teammates empowered to make decisions, and real-time adjustments made in response to changing conditions -- when a team has all three elements, they aren’t talking about “agility,” they’re getting work done. Source: https://www.gallup.com/workplace/611675/search-agility.aspx
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