What’s next for recruitment? 

Welcome back to the What's Next? newsletter!

It’s a rollercoaster ride in recruitment right now. At the beginning of the pandemic, recruiters were let go, but a few months later demand skyrocketed and kept rising for nearly two years. Demand is now falling rapidly, and some companies are once again cutting their TA teams. Meanwhile, as this uncertainty continues, businesses may look to staffing firms for guidance on talent strategy and marketplace trends. It’s more important than ever for recruitment firms to really stand out and add value. 

So, what trends are emerging in recruitment?

For this issue, I thought about some of the questions people ask me about my life in recruitment and my take on the industry right now, along with my insights on what’s next for 2024. 

What are the biggest changes you've seen in the recruitment industry?

Recruitment has become more global and also more specialised. In the past, recruiters would handle diverse roles, everything from accountants to secretaries to engineers. Today, it's more focused, with individuals becoming niche specialists. Specialist sector knowledge has become a powerful asset.

Technology has been a game-changer. We now use very sophisticated systems, and there's been an evolution from short ads placed in newspapers to platforms like LinkedIn providing global access to candidates. The market today is much more global compared to when I first started. Today, I can place candidates in New York without being based there, thanks to technology.

Looking ahead to 2024, what challenges do you foresee for the industry?

Technology will continue to evolve, especially with the introduction of AI. It won't replace people in our industry, instead, it will provide sophisticated tools to enhance our effectiveness. The ability to interact with clients and source candidates may change significantly. 

What do you enjoy about being in the recruitment industry? 

The fast pace keeps me on my toes! Being in an environment of constant learning and change is something we all want. It keeps things dynamic and interesting.

What exciting tools or ideas are emerging in the industry?

With the rise of cross-border transactions and a more global market, I think technology will continue to expand, providing broader access to markets.

What’s your take on the work-life balance? 

I think this has become a very grey area, because we have the conflict of people working from home and working from the office. Having experienced both, I think work should be based at the office, and I think we've muddied the water a bit. For people to flourish and do well there's no question in my mind that they will do better working amongst a team with other people - where they learn, they develop, they can inspire, they are motivated. This is very difficult to create in a home environment. So I think we've really muddied the water in terms of work-life balance.

What well-being and wellness strategies do you think are the most sustainable?

I truly believe in fostering an environment where people can work together, learn, and be inspired. I find that working in a team is essential for motivation and development.

What can leaders do to nurture and retain talent?

Leaders should focus on continuous development, providing training and opportunities for internal mobility - it's essential to foster an environment of learning and growth.

And individual employees, what should they focus on?

Employees should take the time to become specialists in their field, stand out, and continuously develop their knowledge to add value.

What changes would you like to bring to the industry?

I like to empower individuals in the industry to become entrepreneurs, building their businesses, creating success for themselves and enabling the growth and development of many others. My most recent business, Recruitment Entrepreneur, is one of the most successful private equity investors in recruitment businesses. Our mission is to help founders globally, launch, scale, and eventually exit their own recruitment businesses, generating a wealth creation event. We invest in all sectors within the recruitment industry, which provides a diverse portfolio of businesses, each one a specialist in its own niche. 

Is there a recruitment business that you particularly admire? 

Michael Page is a business that I admire. It has a very robust and unique methodology and a unique training and development process. It has a very clear strategy that it has never wavered from and it has developed an incredible brand around the world - a very recognised brand for both clients and candidates. So it's definitely a recruitment business that I admire and respect for what it has achieved. Despite various market ups and downs, over the last 40 or 50 years, it has continued to grow and develop and build its global footprint.

How do you stay updated on industry trends?

I find LinkedIn to be an extremely powerful tool because it brings together information about industry trends and I can find everything that I want to know about employment trends, customer trends, hiring trends, and geographical trends - and it saves me time and resources to be able to access that data through one particular source. 

Here’s my take on the top five trends in recruitment in 2024:

1. Globalisation: I anticipate that global hiring will become an even bigger trend in 2024 
2. Tech drive: The use of AI will increase - especially at the front end of the recruitment process. But it will become crucial for organisations to ensure there are humanising touches throughout the recruitment journey - future employees need to be interacting with a human being that represents the organisation.
3. The great return: There will be an increased push to get employees back to the office.
4. Knowledge-driven: The advance of AI will drive the need for recruitment professionals to become exceptionally knowledgeable in their niche area.
5. The rise of the product specialist: Since AI tools can now be utilised by clients themselves, clients will increasingly seek product specialists who understand the nuances of their industry and the specific requirements of the positions they are looking to fill. It's a way for recruiters to differentiate themselves and offer a higher level of expertise in a particular area.

Skills first hiring 

Anybody wanting to secure a new role should get ready to skill up. 

There’s been a big mindset shift in recruitment and I think skills-first hiring will become the new gold standard. In a recent talk, LinkedIn’s @Alex Charradeau said that 76% of recruitment pros predict skills first hiring will be a priority for their organisation in the next 18 months. 

The great thing about skills first strategies is the way they shine a light on overlooked talent. Employers focus on mapping the skills candidates have and need rather than the specific qualifications. Generative AI is one of the things enabling this mindset shift because it lets recruiters focus on the human element of hiring.

Date for your diary!

I’m excited to be ending the year on a high - and it really will be a high since we’ll be at the Empire State Building in New York, on December 5, 2023, to discuss resilience in recruitment. I’m looking forward to teaming up with LinkedIn ’s Economic Expert's, Brian Delle Donne CEO, Talent Tech Labs, Manish S from TekWissen and Tony Davies Recruitment Entrepreneur .

Finally, for anyone hoping to make a career change in 2024, now is a great time to revamp your CV/resume - and it’s also the best time to reach out to an organisation you’re interested in working with. 

If any of the trends I anticipate for 2024 resonate with your experience, it would be great to hear from you with your views and experiences in the comments below….