The new year can be a time of great reflection.
Recruiters in many sectors will tell you that more Americans are seeking remote or hybrid work – the impossible
dream in many industries. Flex time and paid sick days have also entered the chat, so it’s no surprise US employers
are wondering how to build job offers that attract rockstar candidates in 2023.
What should we bring to the table? is a question recruiters must be able to answer as we close out a year that,
according to the U.S. Bureau of Labor Statistics, saw two job openings for every American looking for work.
This fall, consultancy group WTW asked 1,550 U.S. employers how they planned to up their recruitment game. The
main answer? Salary increases: 21 percent said they’d find the money by cutting back on benefits and perks, and 17
percent said they’d be raising prices or service rates. Another 12 percent plan to restructure.
Enlisting RPO can optimize your success in sourcing and securing quality candidates by streamlining the entire process, but every company should understand how to become a better contender for top talent in 2023.
Here are 3 things to consider:
- Know what your competitors are doing.
Many are going to be offering candidates more money. In the WTW’s Salary Budget Planning Report,
more than half of the 1,500 employers surveyed have hired candidates with job offers above their
relevant salary range; 76 percent said they are planning to adjust salary ranges by 2 to 5 percent. RPO
offers market research that can help you build a competitive job offer that makes sense for your
company, but start with a visit to the U.S. Bureau of Labor Statistics to see what candidates may expect.
- Know what prospective (and current) employees are doing.
Many are looking for additional work and better pay. A CNBC report from September showed that, in a
survey of 1,000 Americans from various professions, 70 percent said they’re looking for extra work to
combat inflation, and 57 percent have sought out new roles entirely.
Compensation doesn’t always drive decision making, but it’s unwise to underestimate its value right now.
- Understand what recognition looks like in 2023.
It might not be an ‘employee of the month’ certificate, although that’s better than nothing. In October,
the Harvard Business Review cited a study that found employees who said their managers were great at
recognizing them were more than 40 percent more engaged in their work than those with managers
who didn’t. Those employees are far less likely to quit.
In the new year, consider implementing a policy of recognizing potential early on, and rewarding it with a
title change that reflects the person’s progress and contribution, along with a salary bump in line with
current industry standards.
There is no better time than the start of a new year to take a closer look at your recruitment strategy, and ensure it’s in line with the most up-to-date hiring trends. Contact our team to learn more about how our RPO services can help you optimize your current process, and stand out from the competition in 2023.