Making predictions for the next 12 months in any industry seems a hopeless task, bordering on foolishness.
The recruitment world in particular can be a challenge. Not only for job-seekers who often find it a stressful process, but for businesses and recruitment consultants alike. It can take weeks to find the ideal candidate, with no assurance that they’ll accept a job offer or stick around after the onboarding experience has finished.
With that being said, we just can’t resist making five bold predictions for the recruitment world in 2024!
Artificial Intelligence (AI) will take over
In many ways, 2023 was the year of AI and it’s clear that it’s not going anywhere anytime soon. It broke into the mainstream like a chilling prologue to an 80’s sci-fi movie. We saw chatbots and apps as well as the healthcare, retail, and finance industries adopting AI to diagnose diseases, personalise recommendations and detect fraud. With this monumental shift in our technology, it’ll be interesting to see how candidates, clients, and recruitment consultants alike ethically integrate AI into their careers.
We’re still in the test period of trusting AI to make decisions on selecting human beings for vacancies. We believe AI may be useful at the entry level point of the recruitment funnel to aid in the time-consuming short-listing phase. We’re not convinced however that candidates will be interviewed by talking robots just yet……. Perhaps 2025!
There is also the monumental impact AI can have within the application process. Candidates may be able to apply for hundreds of jobs at the click of a button.
There will be a continued emphasis on work-life balance and mental wellbeing
A high salary doesn’t automatically equal a good career. People care that their values align with the company they work for. With the retirement age increasing seemingly every year and the topic of mental health in the workplace being ever prevalent, employees will continue to dedicate more time to work-life balance and burnout prevention.
From April 2024, we will see a rise in the National Minimum Wage (you can get the deep dive here). This may affect middle management heavily as receiving a promotion can lose its lustre if the pay upgrade is minimal compared to the added responsibilities. One of our predictions is that more employees will opt out of the aggressive corporate climb and focus on the sustainability of their careers instead.
Employees will prioritise workplace flexibility and benefits.
The COVID-19 pandemic is now four years old (wow) and more companies are mandating return-to-office policies. Without a convincing rationale, however, they may struggle to keep their top employees. In line with the previous prediction, employees will seek out how their employers can best tailor to their preferred work environment whether that be part-time hours, flexitime, or hybrid working.
Inflation may make employees more salary-conscious
Higher interest rates and elevated energy bills plagued 2023. They are sure to remain a top priority for most throughout 2024. When salaries fail to keep up with an inflating climate, anxious employees will be on the hunt for more desirable and higher-paid jobs if they’re refused a higher wage.
Companies will continue to see that education level is not the only indicator of talent
The last of our predictions involves the long-debated topic of education vs experience. It is essential that doctors, lawyers, and scientists are all highly educated to succeed in their careers. That isn’t necessarily the case in every profession, however.
We believe this will rear towards a skills-first approach in 2024. Employers who strictly hire graduates may run the risk of hurting their company by limiting their candidate pool.
A Final Thought
Do you agree with our bold predictions? We are nonetheless excited for all the challenges that the year ahead is sure to present.
