Now that we’re into the second quarter of 2023, we can see that the talent acquisition (TA) world has a different tint. Despite the specter of recent layoffs and a looming recession, widespread skills shortages and a low overall labor force participation rate (LFPR, or the number of people in the workforce or actively looking for work) mean that organizations have had to deploy more innovative recruitment strategies.
These trends are reaching critical mass:
Internal Mobility
When it comes to lateral moves and internal opportunities, most organizations have always talked a good game. However, in practice, managers were more likely to hoard top talent. A poor infrastructure often restricted employee movement from one team to another, even if a manager was supportive. But during the COVID-19 pandemic, leaders recognized the utility of redeploying workers from a slow area of the business into a more viable one. Since then, internal mobility has gained momentum.
This year is different due to the more widespread usage of technologies that drive internal mobility – namely, talent intelligence and predictive analytics. Rather than waiting for an individual employee to express interest in a given position, artificial intelligence allows leaders to proactively determine who within the existing workforce might have the right skill set to meet a current or near-future need or who could be easily trained to do so.
Executive Freelancers
The professional contract workforce has been growing for the last decade, but traditionally, freelancing was mostly limited to individual contributors in professions like writing, marketing and information technology. Because these workers usually completed work that could be more narrowly defined within the scope of a “project,” this made sense.
In 2023, however, pervasive contract work has expanded to other professions, including law and finance. We are increasingly seeing organizations using “interim” c-suite executives to take over for a leader who is on leave, to trial a new hire for fit, or to temporarily fill the position while they search for a permanent hire.
Unfortunately, it is still the case that organizations often treat contract workers as second-class citizens. But as they become a more significant percentage of the employee mix, TA leaders must leverage technology to nurture their relationships with this population and deliver the appropriate opportunities, training and communications.
For more trends, or to check out my recent webinar on talent intelligence, head on over to the SilkRoad blog.