At the start of 2024, it may seem the world is slowly returning to the normality of pre-pandemic hiring. But at the same time, subtle shifts are emerging globally and regionally. Vacancy rates have been dropping, and the talent pool is widening, but the competition for in-demand skill sets hasn’t budged. We have asked our global CEO Jake Zabkowicz for his insights and predictions for the talent market of 2024 as part of our series ‘CEO insights’.
“Amidst skill shortages, emerging technologies, and salaries catching up with inflation, many employers place greater emphasis on internal mobility, revised benefit and salary packages, and flexible working. This is an ongoing trend from the shifting dynamic between employers and employees that originated in the pandemic and subsequent years” says Jake.
“Newly emerging in 2024 is the focus on project-based recruitment, which I see becoming a norm rather than an exception. At Hudson RPO, we’ve seen requests for project RPO when organizations experience a sudden increase in activity, launch new products, or expand into new territories that require specific, niche skill sets to support new ventures.”
Business-as-usual hiring will accelerate towards the end of the first half of the year, supported by project-based hiring and a skills-based approach to talent and development. What does that mean for talent acquisition teams?
“Successful talent acquisition teams will further integrate into key business decision-making. Increasingly, I have seen a move away from expensive, disjointed agency approaches to hiring. Organizations prefer a more holistic approach to talent that includes a strategic lens on talent development, workforce planning, and both permanent and flexible workforces. Whether that is in-house or through an RPO partner, this consultative approach ensures a more resilient foundation to hiring that withstands the twists and turns of the market.”
“My advice to leaders for 2024 is to embrace the opportunities for talent acquisition with an agile mindset and data-driven approach. Especially at the start of the year, this will largely revolve around the technological advancements and the implementation of AI-enabled technologies. As the pace of hiring gradually returns to business-as-usual, supporting teams in the implementation of project-based and more holistic RPO solutions such as total talent, will take center stage.”
Jake shares his monthly insights as part of our series ‘CEO insights’. Keep an eye out for next month’s edition and more insights from our talent experts on our website and social media channels. Do you want to talk to a talent expert about the year ahead? Click here to get in touch.