The Future of Recruiting 2023 report makes predictions shaped by the GAI, economic uncertainty and global talent shortages.
Tech recruiters must keep talent shortages, layoffs, budget cuts and economic uncertainty in mind, as well as diversity, equity and inclusion mandates. Suffice it to say, it’s not an easy time to be a recruiter.
But LinkedIn’s The Future of Recruiting 2023 report finds that generative AI tools like ChatGPT can take some of the pressure off. Nearly two-thirds (68%) of recruiters surveyed in February 2023 said they were “very hopeful” or “cautiously optimistic” about the impact of generative AI on recruiting.
“Generative AI, meaning tools like ChatGPT that intelligently create content, is an exciting new technology that holds promise for talent professionals, many of whom believe it can help with time-consuming tasks like job descriptions and candidate screening. preparing personalized messages, incl. others,” the report says.
The top hiring results that professional respondents say they would like to see from GAI tools:
- Automate repetitive tasks to prioritize more strategic work (74%)
- Make it faster/easier to source candidates (67%)
- Make candidate onboarding faster/easier (59%)
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How GAI can help recruiters
While the technology and skills used in the world of work continue to change, today both are driven by artificial intelligence, said Jennifer Shapley, vice president of global talent and acquisitions at LinkedIn.
“We know that the number one goal of recruiters is to find the right candidate quickly. Our recent research showed that 75% of recruiters hope that generative artificial intelligence can help them identify new candidates,” he said. Another pain point for recruiters is writing a job description, which can be a time-consuming and difficult task, especially if they are struggling to attract the right candidates.
“With generative artificial intelligence, we can integrate this technology into our products to help streamline parts of the hiring process so recruiters can focus their energy on more strategic aspects of their jobs,” Shapley said.
One way LinkedIn is doing this is by testing new AI-powered job descriptions that will make it faster and easier to write job descriptions and attract qualified candidates.
LinkedIn hiring predictions
The report presented a number of recruitment projections.
Continue to create a diverse workforce
In addition to using GAI in the hiring process, LinkedIn predicts that employers will “continue to be committed to creating a diverse workforce” despite the uncertain economy.
While a majority of recruiters say overall hiring has been negatively impacted, three in four said DEI hiring is not deprioritizing—in fact, nearly 20% said it’s now a higher priority, according to the report :
Hire more contract workers
As a result of the troubled times, LinkedIn also predicts that employers will take on more contract workers “as a hedge against uncertainty.”
The job site based this prediction on the fact that in the US, for example, jobs for contract positions on LinkedIn are growing much faster than jobs for full-time employees, which is relatively stable. The report defines contract positions as work “contracted out” to a company for a limited time specified in the contract, whether full-time or part-time.
Continue to recruit/staff fairly evenly split internally and externally
The data shows a more stable split. 22% of companies expect to spend more on internal recruiters this year versus 2022, while 23% expect to invest more in external staffing firms.
Be aware of candidate priorities
Another prediction is that companies will pay more attention to what candidates want most in order to remain competitive in the job market.
Every month, LinkedIn surveys more than 20,000 members about the important factors they weigh in a new job. The top priority for candidates today is excellent compensation and benefits, by a wide margin. This is followed by work-life balance, flexibility and comparability, which the report says are also the two fastest-growing priorities for the year.
“Your employer brand is about much more than good pay and flexibility, and offering them can’t set you apart, but beware. If you don’t provide them, talent will notice,” the report said.
Upskilling will be key to internal recruitment and diverse hiring
Two other predictions focus on increasing skills. One is that business leaders will understand the value of filling open roles with homegrown talent given the sluggish economy. About 75% of recruiting professionals said that “internal recruiting will be a key factor shaping the future of recruiting over the next five years.”
A related prediction is that upskilling will be an important tool for employing a diverse workforce. 81 percent of recruiting professionals said that employee qualification and training will be an important factor in shaping the future of recruiting over the next five years.
Hiring leaders’ tips for attracting tech talent
A key way to hire talent today is to focus on skills as opposed to pedigree, Shapley said. “Gone are the days when degrees took precedence. Today it’s about skills.”
He recommended that talent professionals focus on three things:
- Write job descriptions to include skills and non-redundant qualifications, such as a four-year degree.
- Ask about the candidate’s skills during the interview.
- Help ensure the entire team is focused on skills when hiring.
LinkedIn has been working on creating the first skills marketplace “that makes it easier for employers to hire and develop talent based on skills and for members to identify and hire based on their skills,” Shapley said.