HR Predictions for 2022

With the new year now in full swing, we thought we’d look forward to what 2022 might have in store and the key HR trends to keep your eye on.

The world of HR has changed phenomenally in the last two years. Many of the changes we’ve seen were perhaps already on the horizon, but things have accelerated much sooner than anyone expected. Companies (and HR Teams especially) have had to become much more agile and adaptable to the new world of work – and so many have thrived and inspired change for the better. The last two years saw hiring come to a near standstill for the majority of industries, but things have gradually recovered and companies are now starting to really ramp up their recruitment again.

Meanwhile, the issues with talent shortages continue to grow – a recent report by Korn Ferry predicted that by 2030 there will be a global human talent shortage of more than 85 million people (that’s roughly equivalent to the population of Germany!). Without intervention, they estimate that this talent shortage could result in roughly $8.5 trillion in unrealized annual revenues by 2030. Talent strategy must therefore become a priority for companies in the next few years, and every effort should be made to train, educate, and upskill existing employees.

With the new year now in full swing, we thought we’d look forward to what 2022 might have in store and the key HR trends to keep your eye on.

Fulfilling and exceeding candidate expectations

Candidate expectations are higher than they’ve ever been and with the recruitment industry bouncing back after the pandemic the competition for candidates is fierce. It’s no longer sufficient to post a job ad which solely focuses on the requirements and expectations of the role. Companies need to also demonstrate what they can offer candidates and provide a great candidate experience in order to attract the best talent. 

Driving collaboration and integration for Hybrid Work

As many companies begin to return to the office, it is not yet clear what the future holds with regards to working practices. There certainly isn’t a ‘one size fits all’ solution. Some businesses will decide to operate fully remote, some fully in the office, but the majority are leaning towards a hybrid of both for the time being. Regardless of this choice, it’s important to support employees and enable them to collaborate and thrive wherever they are. Ensuring HR teams have all the tools they need to collaborate and hire regardless of their working situation is crucial for the coming year!

Attracting and engaging a flexible workforce

The flexible workforce, often referred to as the Gig Economy due to their freelance nature of being paid to work one ‘gig’ to the next, is becoming increasingly popular. In fact, the Global Gig Economy is expected to grow from $204 billion (2018) to $455 billion by 2023. The main appeal of this growing trend is the flexibility it offers – people can essentially choose when and how they want to work – and the potential to increase earnings based on performance. Gig work spans a range of industries, however, it’s increasingly popular in tech, which accounts for nearly 50% of all freelance work.

Keep building that Employer Brand

Implementing and maintaining a strong employer brand has become a crucial component to any successful recruitment strategy – not only for attracting talent, but retaining it too. Today’s candidates have constant access to online resources and information, so it’s incredibly important that your online presence is an honest and accurate reflection of what it’s like to work at your company. 

Beating the skills shortage

This has been a growing trend for some years, but many companies today now face a shortage of skills in their workforce that directly impacts their ability to grow and thrive. There are many contributing factors to this, but a large part of this shortage is due to rapid digitalization. The advent of new technology has seen businesses reinvented and new and different skills are needed to sustain growth. However, this has meant that companies are now all competing for talent with these skill sets. 

With the emergence and evolution of these new skills has also come a growing redundancy of older skills that can now be performed faster and cheaper by technology than by people. Taking all of these developments into consideration, it’s now more important than ever for HR Teams to focus on Learning and Development Initiatives – not only to combat this talent shortage, but also to attract and retain the top talent.  

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