Universum’s Employer Branding NOW 2023 study, conducted during the first quarter of this year, shows students and working professionals are confident about the hiring market – this despite slowdowns in certain industries and regions.
“Notwithstanding a flurry of news about layoffs and economic contraction, most companies are still struggling with a talent shortfall, and the problem isn’t going to improve anytime soon,” explains Yusuf Azoz, CEO of Universum.
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Universum, the global leader in employer branding, surveyed over 1,700 talent leaders from 75 countries between February 15 and March 31, 2023 and over a 1000 students and professionals. The study found:
Employer branding is even more critical in 2023. Among leading global employers, 78% say employer branding is a top priority — up 11 points in two years. Even for small- and medium-sized employers, the majority say employer branding is a critical area of HR investment, with close to half of all the employers surveyed increasing their employer brand budgets.
Differentiation is a top priority. 60% of leading global employers say differentiating their employer brands and EVPs from competitors will be a key objective in the coming year.
Employer brands are revising their EVP. Employee well-being and flexible working conditions — areas of focus during the pandemic years — are now emphasized in fewer than one in three EVPs. The reason: these have become baseline expectations, not “perks” provided by an employer.
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Delivering a consistent ‘on-brand’ experience for employees is increasingly key given the continued risk of attrition.
Data-driven decision making is now the norm. In 2023, 88% of companies in the World’s Most Attractive Employers say they “frequently” or “always” use data to drive decisions – using dashboards to monitor every step in the recruitment funnel.
“Data-driven insights are absolutely critical when talent markets are in flux, as they are now,” says Richard Mosley, Universum Global Client Director. “With so many cross-currents affecting perceptions and preferences it’s essential to stay in tune with your target audiences and monitor your brand image.”
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