Key Trends Redefining Talent Acquisition in 2024

Time to Read: 4.8 minutes

Updated: May 7, 2024

We’re in a new era of talent acquisition, and it’s crucial to understand the changes happening in how we attract, engage and retain exceptional talent. 2024 is going to be marked by innovation and adaptability, both in the technology we use to support strategy and in how we build long-lasting relationships with our workforce. In this article we’ll explore what’s driving change – so that you can better understand the why behind this year’s biggest trends – before going on to look at the talent acquisition trends of 2024 that you should be including in your workforce planning and strategy for the year ahead.

What’s Driving Change?

The driving forces behind the talent acquisition trends of 2024 are extremely varied. It’s a real mix of challenges that are pushing us to rethink and reshape how we do talent acquisition. Things like economic uncertainty, new technologies, and shifts in what jobseekers want and how they behave, are shaking up the way we find and bring in talent.

The continued unpredictability of the economy is making companies rethink how they hire to be more adaptable and cost-effective. New technologies, like AI, are also changing the game, making the hiring process more efficient. People looking for jobs now expect more authentic connections and meaningful work. And there’s this growing gap between the skills companies need and what people have.

5 Talent Acquisition Trends for 2024

Now we know what’s influencing talent attraction and retention, let’s explore the trends shaping the future of talent acquisition. Here are the biggest talent acquisition trends in 2024 you need to know about:

Trend 1 – AI Will Continue to Transform Talent Acquisition.

We’ve explored before how AI has the potential to revolutionize how organizations access new pools of talent, cultivate candidates and speed up hiring especially in industries that experience seasonal peaks and high volumes of candidates. But the power of AI to transform talent acquisition is just beginning to emerge.

As the technology continues to develop, we’ll see it being used in new, even more powerful ways. Particularly to inform workforce planning and hiring strategies. However, employers need to be careful how they implement AI. New legislation looks set to tighten regulation around AI use and it’s important to learn to balance AI with the human touch. That’s what will set employers and hiring teams apart from the crowd going forward!

Trend 2 – Organizations Will Shift to a More Skills Focused Hiring Process.

Nearly 70% of US businesses say that their organization is experiencing a skills gap. That is that they cannot find and retain enough candidates with the skills needed to fill their open positions. In industries like manufacturing, technology, and healthcare this problem is more acute, but the skills gap affects employers in all sectors of the economy. To address the problem organizations will have to take multiple approaches that includes upskilling and focusing on retention – both trends we’ll explore – but a big talent acquisition trend in 2024 is going to be skills focused hiring

Employers are going to be looking for new ways to identify and target skilled candidates at every stage of the hiring process, from job descriptions that emphasize needed skills, to expanded sourcing channels and well-structured competency-based interviews. This is an area where our next key trend will also prove useful.

Trend 3 – There Will Be a Greater Reliance on Recruitment Data to Drive Talent Acquisition.

Our world is underpinned by data. Most employers and recruiters have large amounts of useful data at their fingertips, however very few of them are getting anything of value from it. As organizations struggle to reach high-quality candidates, they’ll have to take a closer look at the metrics they track to improve their recruitment processes.

Applicant Tracking Systems (ATS) have been standard for some time now but 2024 will see recruiters and hiring teams making more use of predictive analytics, automation, and AI to better collate and analyze data, and make more data-driven hiring decisions.

Trend 4 – Learning and Development Offerings Are Going to Be Critical for Candidate Attraction and Retention.

Businesses are increasingly aware of the importance of learning and professional development for ensuring their workforce has the right skills available both now and in the future. Offering training opportunities is also vital for improving talent attraction and retention in a period when high-quality talent is hard to find.

Candidates are also increasingly clued into the power of training and development offerings for their own career prospects. 92% of candidates will prioritize job offers from businesses who offer L&D opportunities, and they are more likely to be loyal to those who come across as committed to and invested in their success.

Trend 5 – How You Build Relationships with Candidates and Employees Will Set You Apart from the Competition.

Engaging with candidates in a human and empathetic manner is going to be a key differentiator for talent acquisition in 2024. Putting thought into how you personalize the candidate journey will help keep talent warm and engaged with your business even if they aren’t successful. It can also be a great way to change perceptions around work in certain industries like manufacturing, retail and hospitality.

A personal view can also help you focus clearly on strategies for retention. Thinking about an employee as an individual can help give you a holistic view of their career, helping you build pathways for internal mobility, upskilling and promotion and helping you identify early career candidates with potential that can be nurtured long-term.

Have you been inspired by the talent acquisition trends of 2024? Find innovative ways to improve your talent attraction and retention with Pierpoint’s full service RPO solution. Talk to an expert today to discuss your talent needs.

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Jen Mulholland

Jen is a successful recruitment and marketing professional. Driven by a genuine passion for writing, she provides insightful, accurate and engaging content for the Human Resources community across a wide range of topics and industries.

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2024-05-07T14:55:20-04:00
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