Employ Inc., a leading provider of people-first recruiting and talent acquisition solutions-including JazzHR, Lever, Jobvite, and NXTThing RPO-has announced the release of the Employ Recruiter Nation Report 2024. Titled “Empowering People-First Recruiting,” this annual report draws on a survey of over 1,200 talent acquisition decision-makers and recruiters in North America, alongside proprietary data from more than 22,000 Employ customers. The report provides critical insights into the current landscape of talent acquisition, the main challenges faced, and the areas where future investments should focus to scale recruiting efforts effectively.
- Current Challenges in Talent Acquisition
The report highlights the most significant challenges faced by recruiters, with notable findings including:- Increased Competition for Talent: 37% of respondents cited competition from other employers (up from 30% in 2023).
- Insufficient Candidates: 33% reported a lack of candidates for open positions (a significant increase from just 3% in 2023).
- Excessive Applications: 26% mentioned too many candidates applying for positions (up from 24% last year).
Additional challenges identified include:
- Remote Work Limitations: 22% reported being unable to offer remote or hybrid work options.
- Poor Candidate Communication: 21% highlighted inadequate communication from candidates during the hiring process.
- Salary Competition: 20% indicated difficulties in meeting salary expectations.
- Strategic Investments for Improvement
According to Steve Cox, CEO of Employ, businesses are responding to these challenges through strategic investments aimed at enhancing hiring processes. Key insights include:- Budget Increases: 64% of businesses anticipate raising their recruiting budgets in the next year, with a significant focus on new recruitment technology.
- Candidate-Centric Approach: Emphasizing the importance of meeting candidates where they are, Cox encourages investing in solutions that prioritize people-first strategies.
- Key Trends in Recruiting
The report reveals several positive trends in recruiting practices:- Reduced Time to Fill: The average time to fill roles has decreased by seven days (41 days in 2024, down from 48 in 2023).
- Focus on Faster Hiring: 47% of talent acquisition leaders are prioritizing a quicker hiring process, an increase from 42% in 2023.
- AI Integration: The use of AI tools in recruitment has risen significantly, with 63% of recruiters now leveraging AI technologies, up from 58% last year.
- Budget Allocation for AI and Other Tools
A growing emphasis on AI-powered recruitment tools is evident, with 71% of recruiters planning to increase their budgets in this area. Other areas receiving attention include:- Candidate Relationship Management: 46%
- Applicant Tracking Systems: 44%
- Diversity, Equity, and Inclusion Initiatives: 41%
- Sourcing: 40%
- Channel Effectiveness
Job boards emerged as the most effective channel for enhancing employer branding in 2024, with a 12% increase to 67%. Social media usage also rose by 7% (now at 54%), while internal hires declined by 13% to 22%. - Work Model Trends
The report anticipates a shift towards a 100% in-office model, with 34% of organizations moving to this model in 2024 (up from 17% in 2023). Fully remote policies have decreased to 9%, down from 27% last year.
As the recruiting landscape evolves, the Employ Recruiter Nation Report 2024 underscores the importance of a people-first approach in talent acquisition. By prioritizing strategic investments and focusing on candidate experiences, organizations can enhance their hiring processes and achieve better business outcomes.