Talent Acquisition Trends 2023

As we move into 2023 we’re continuing to see some challenges and shifts in the market that impact the way we source, attract and hire talent. With the unemployment rate remaining low we’re still seeing a candidate-driven market. Now more than ever, it’s crucial for organizations to understand the emerging trends in talent acquisition to ensure they are attracting the right kind of talent to help them achieve their goals. 

Here’s what we here at Cardata see as some of the top Talent Acquisition trends for 2023. 

Focus on internal mobility

Offering your current employees the opportunity to grow, learn and gain new skills is the key to retention. Rather than put your people in career boxes, it’s important to focus on the skills that individuals have gained throughout their experiences and how these skills can address gaps within the organization. This doesn’t just benefit the company but ultimately will lead to a more engaged workforce. 

Internal mobility does not always mean a promotion; sometimes it’s a lateral move into an entirely new field. When you fill a role with someone internally they bring with them a deep knowledge of the product and the company so ramp up time is reduced. While we’re seeing a shift in the market, unemployment remains low and a recent survey found that 50% of employees are still considering leaving their jobs within the next 12 months. Committing to your employee’s career development will help ensure that their needs are met internally rather than having to look outside for new opportunities.

Cardata has focused on internal mobility in three key ways: 

1. By implementing Lattice, a performance management tool and by equipping our leaders to have regular growth conversations with their team. 
2. We have a Wellness account that can be used for growth and development opportunities. 
3. All of our job postings are open to internal employees and Talent Acquisition has set up regular office hours to speak with people who might be considering a move and want to chat about their path.

By filling talent gaps internally, we’re building portable talent pipelines, addressing our people’s career and growth aspirations all while filling the internal needs of the business. It’s a win-win situation. 

Providing a positive candidate experience

A candidate’s experience during the interview process is often used as the initial sign of how their experience will be once working in an organization. 

The importance of a smooth and transparent recruitment process plays a big part in who you attract to any open role. More and more, we’re seeing candidates wanting to know up front what they can expect during the process. Many job seekers are exploring multiple companies or roles at the same time. If the interview process is murky, too complicated, and too drawn out you will find yourself losing out on great talent. 

Having open conversations with candidates about salary ranges and the interview steps leads to a more transparent process. Ensuring interviewers are prepared, trained and are clear in terms of what they are assessing for helps candidates feel confident in who the organization is.  

Job searching and interviewing can be draining and exhausting. Setting expectations at the beginning of the process can help a candidate feel more comfortable and prepared throughout their interview experience which allows them to present their best selves and also eliminates some of the unknowns that can be stress-inducing. 

At Cardata, candidate experience is top of mind for us as we scale. We’ve implemented a new applicant tracking system which allows for smooth and easy communication throughout the interview process. We set expectations with each candidate so they know what they can expect throughout the interview experience and we’re launching a candidate experience survey to dive into how we can improve the experience for individuals interested in working with us. 

Flexible Work Environment 

Candidates are drawn to companies that prioritize their employees well-being and offer a strong internal culture. One way that organizations can address their employees well-being is by providing a flexible work environment. After spending years working remotely many employees don’t see themselves going back to an office full-time. By not spending hours commuting, employees have gained valuable time to spend with their family, on passion projects or hobbies and most aren’t willing to give that up. 

At the same time, after spending years confined at home, many people are craving the social aspects of an office environment. Having the option to work remotely, at least part of the time, can be a key attraction tool in 2023. Providing flexibility in where, when and how an employee works will help attract a diverse workforce. 

It’s time to rethink the standard 9-5. By offering a more flexible work environment, you’re putting trust in your employees to do their best work and allowing them the mental capacity to be more efficient. When looking for their next career move, a candidate is going to take into consideration whether or not they can continue to pick their kids up from school or make it to their yoga class. 

Candidates want to know that it’s the results that matter — not when and where they achieve those results. 

With a recently opened office space in downtown Toronto, Cardata offers an amazing place to gather and collaborate with the team. We embrace flexibility to help our people find balance to ensure that, whether working from the office or at home, life and work can be seamlessly integrated.

Data Driven Recruitment — with a focus on DE&I

The key to knowing if you’re hitting the mark in your recruitment efforts is through data. In 2023, we’re going to see more Talent Acquisition teams turning to hard data to assess their processes and experiences.  

By using data to analyze everything from the talent you’re attracting, the candidate’s hitting each stage of the pipeline, the interview feedback and the job acceptance rate, a team can identify gaps they might have in their recruitment funnel and process and highlight them as areas for improvement.

Without hard data, an organization is running on speculation and it’s hard to target where the focus should be. 

Our new applicant tracking system at Cardata is helping us become more data-informed in our recruitment process. This data will allow us to improve our processes, identify any gaps and train our leaders on best practices in the Talent Acquisition world. 

The way to attract talent is constantly evolving. As markets shift and needs change the talent acquisition world must change with it. By focusing on some of these shifts organizations can ensure they are continuing to meet their talent needs and finding wonderful people to help their businesses thrive.