As we step into 2024, we continue to witness changes in the hiring landscape. With the new year underway, we’ve taken a look at what the employment process might look like. Predicting job trends is best done by recruitment agencies, given their extensive connections to various markets.
Here are some forecasts for the hiring trends in 2024.
“As we wrap up the year, we review the following trends such as remote work and artificial intelligence.
Remote work has continued to be a top trend per employment. While many employers provided a full remote work during 2021 and 2022, the return to the office has been seen in 2023 and will continue thru 2024. Employers with an onsite presence are requiring their employees to return to the office at least 1-2 times per week. To retain that talent and workplace culture moving to a hybrid model is the best option as it pertains to balance, workplace culture, and flexibility. Workplace culture is a large factor in this trend as it is very difficult to capture in a remote setting and is one of the best ways for employers to retain and foster talent.
2023 was the year of artificial intelligence. While AI has been used by Recruiting for years, employers are looking at ways to incorporate AI to its hiring process to automate HR function, while recognizing the risk involved. When it comes to AI, candidates alike are using AI more than ever when it comes to a resume builder, cover letter generators, etc. to give those candidates an advantage. What is most interesting with this trend is the opposition for authenticity. As noted by the ABC article, “What’s Merriam-Webster’s word of the year for 2023? Hint: Be true to yourself,” the word of 2023 is “Authentic.” There is a want for companies, politicians, celebrities, etc. to run their own accounts in an authentic way in their own words.”
“The impact of Artificial Intelligence, especially since ChatGPT’s emergence last year, is undeniable. As we navigated through 2023, it’s clear that AI is not just a passing trend, but a key player in shaping the way people do business. For those open to its adoption, AI offers a way to streamline operations and work more efficiently within a budget.
AI’s role in recruitment is particularly noteworthy. It’s increasingly being used for time-consuming tasks like resume screening, candidate matching, and even initial communications and job ad creation. This shift towards AI not only speeds up the hiring process but also makes it more intentional. AI can quickly analyze large data sets to identify the most suitable candidates, saving valuable time for recruiters and AI can improve the candidate experience by offering more personalized and interactive communication. Using AI to supplement your operations allows teams to scale with AI assistance, by becoming more efficient.
However, it’s important to remember that AI is a tool to aid, not replace, human recruiters. It enhances the early stages of hiring but doesn’t substitute the crucial human touch needed for final decision-making and personal interactions. Potential challenges and considerations that come with AI involvement center around bias in AI algorithms and DEI initiatives. Fow now, continuous monitoring and update are crucial for proper usage.
It’s hard to predict what hiring trends await us in 2024, but it’s clear that AI will be a part of it and those who use it will likely have the upper hand for opportunity.”
“I believe in 2024, one of the HR trends we will see is a decrease in job openings. With that being said, I feel it will become more difficult to find jobs and even after applying for a job, it will also be harder to receive an offer letter. Examining data from the U.S. Bureau of Labor Statistics, the figures reveal a significant drop from 10.4 million job openings in October 2022 to 8.7 million in the current year. The data also shows that the months from July 2023 to October 2023 show a consistent struggle to surpass the 10 million mark in job openings. In 2024, I believe these numbers will be stagnant, if not continue to decrease, for a variety of reasons.
To begin with, the rapid evolution of technology, particularly artificial intelligence (AI), has significantly reshaped workplaces. This transformation has made jobs more susceptible to replacement, causing heightened concerns among employees about job security. Looking ahead to 2024, I only see it getting worse. As employees face layoffs, the competition extends beyond fellow colleagues to include technology vying for the same positions. Foreseeing a cost-driven approach, I anticipate that employers will increasingly opt for technology and software solutions over hiring individuals, given their potential for cost-effectiveness. While technology is poised for continued growth, there is a concern that companies might sacrifice the personal touch inherent in human employees in favor of AI. Striking a balance between leveraging technology for efficiency and preserving the essential human connection in the workplace will be critical for companies navigating the evolving employment landscape in 2024.”