Talent Acquisition Trends for 2023 & Beyond

The Changing Landscape

• A cultural, technological and generational shift in the workplace has significant implications for the future of talent acquisition.
  • In a post-pandemic workplace, employers need to think more long-term about issues such as employee burnout and wellbeing. 
  • As employees put a greater emphasis on work-life integration, they will consider more than just salary and benefits when deciding where to work.
  • As different industries develop more digital business models, the necessary skillsets to work in those industries will fundamentally change.
• The more integrated talent acquisition searches are with other functions of a company, the more successful they will be.

The Seven Talent Acquisition Trends of 2023

• Internal mobility within companies is increasing.
  • Employees have more opportunity to try other areas within a company and think more creatively about their career paths. 
• Workers of younger generations want a more cross-functional experience within the workplace.
  • Millennial and Gen Z employees want to understand the purpose of their work and how exactly it benefits the organization as they decide their career trajectory.
  • Retention can be improved via collaboration.
  • Companies and employees need to think more holistically about employee development.
• More employees are starting to prefer a career based around interim or temporary work.
  • Older generations of employees, perhaps near retirement, enjoy opportunities to work without long-term commitment.
  • Younger generations of employees highly value work-life balance and often prefer project-based work that provides the flexibility to travel or work remotely. 
• Hybrid-schedule workplaces are becoming the norm.
  • Many employees feel a 100% return to the office would negatively impact their mental health and would restrict their work-life balance.
  • Giving employees a sense of agency in deciding when they work in-office and when they work remotely is better for employee and customer satisfaction. 
  • Employee productivity often suffers when employees are required to return to the office full-time. 
• Workplaces are migrating from work-life imbalance to work-life integration.
  • Non-traditional work hours make for better flexibility overall.
• “Boomerang” employees are being valued more highly.
  • Hiring someone who has worked at the company previously ensures more institutional knowledge about the company and it’s products, which minimizes training time and better allows the employee to get a stronger start in their position. 
• Workforce planning and employee retention are going to have to improve.
  • Detecting employee burnout before it occurs improves turnover and actually saves money, as replacing an employee can be up to twice as costly as the employee’s original salary.

Tessa Misiaszek Background

• PhD from Simmons University
• MPH in Public Health from University of Massachusetts Amherst
• BS in Resource Economics from University of Massachusetts Amherst
• She began her career as the Chief Operating Officer of Manhattan Cross Cultural Group
• She served as President of the Nous Foundation, Inc.
• Ms. Misiaszek’s first role at Korn Ferry was as Principal Consultant, Leadership & Talent Consulting
• She became CEO of Empathetics
• During this time, she became an Adjunct Professor at Simmons College, before becoming a full-time Professor at Hult International Business School
• She is currently an Instructor for Professional Development Programs at Harvard’s Division of Continuing Education
• She is also the Co-Founder of the Happy At Work Podcast
• Ms. Misiaszek currently serves as the Head of Research for Korn Ferry Institute

Links

• The report: The Future of Talent Acquisition 
• This article:  “Talent Acquisition Trends 2023”
• Korn Ferry website

Contact

• Tessa Misiaszek on LinkedIn
• Tessa Misiaszek email: tessa.misiaszek@kornferry.com