iHire’s Inaugural Hiring & Job Search Outlook Report Shows Employers are Optimistic for 2023

A new report from a survey of 4,937 employers and jobseekers provides promising insights into hiring, retaining, engaging, and developing talent in the new year.

iHire released its first Hiring & Job Search Outlook Report, a look ahead at the talent acquisition landscape in 2023. This new report shares insights into hiring, retaining, engaging, and developing talent in the new year, based on the results of a survey of 4,430 job seekers and 507 employers from 57 industries, as well as exclusive insights from iHire’s job and job seeker databases.

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The following are the most significant themes and findings from iHire’s survey:

Employers are fairly optimistic about the year 2023

Despite the fact that 42.7% of employers polled are concerned about the economic downturn/recession, 68.1% anticipate increasing hiring, and 49.5% expect to give pay raises in the coming year. 

This suggests that the economic downturn has not had a significant impact on hiring practices, as employers remain confident in the job market and are still willing to increase employment and offer competitive wages 

The economy and ageism are the two most pressing concerns for job seekers

41.1% of workers polled believe an economic downturn or recession will have an impact on their career or job search in the coming year, closely followed by age discrimination (40.0%).

This fear is understandable given the fact that an economic recession or downturn can cause companies to lay off or furlough workers, reducing job opportunities

Great Resignation and shortage of talent of 2022 will continue in 2023

The percentage of employers who are concerned about the difficulty of attracting qualified talent is 74.1%. On the other hand, 50.8% are concerned about employee turnover. Despite these worrying statistics, employers are optimistic that their efforts in developing better hiring and retention strategies will be successful 

Professional growth is crucial to both employers and candidates

In 2023, 45.8% of employers plan to increase employee professional training and growth opportunities. Likewise, 54.9% of workers anticipate taking advantage of more of these opportunities in 2023 than they did in 2022.

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Companies will advance their DE&I efforts

Only 4.6% of employers plan to pursue fewer DE&I initiatives in the coming year, compared to 33.5% who plan to increase their DE&I efforts in the year 2023.

The most important factor for job seekers is ‘from where’ to work

Apart from salary, the location of a job (21.8%), and the flexibility to work remotely (16.9%) were the top two specifications for candidates when looking for a new job.

This is a testament to the modern workplace, where employers must offer more than just wages to be competitive in the hiring market 

The workforce is categorized when it comes to remote work preferences

When asked if they planned to work in an office or in person in 2023, 28.4% said they would do so more in 2023 than in 2022. In contrast, 39.9% of respondents intend to work remotely more frequently this year compared to last.

When it comes to new recruitment technology, employers are thinking like marketers

In 2023, 35.5% of companies intend to use text messaging/SMS tools to communicate with applicants, while 11.0% intend to use candidate relationship management (CRM) systems. These tools are becoming increasingly popular as they can provide businesses with more efficient ways of managing the recruitment process.

Candidates are underestimating the significance of having an up-to-date resume

Even though 67.0% of workers stated that they would look for work in 2023, and 11.1% said they would look for a second job, only 22.4% said they planned to update their resume.

Job boards are still active

In 2023, 79.0% of employers intend to use job boards to recruit, and 34.9% aim to utilize them more frequently than they appeared to have done in 2022.

Job boards have been an essential part of the recruitment process for employers for many years, and this trend shows no sign of stopping.

“Although 2023 may bring more of the same trends as the employment realm experienced in 2022, including talent shortages, turnover, and economic uncertainty, our survey points to a sense of optimism in the job market,” said Steve Flook, iHire’s President and CEO. “Regardless of how this year progresses, iHire is poised to serve as a trusted resource for employers and job seekers to find one another most efficiently.”

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