What Will the Hiring Landscape Look Like in 2023?
We are all wondering what the hiring landscape will look like in 2023. Earlier this year, the workplace phenomenon of Quiet Quitting empowered employees to do the bare minimum at work. This reflected a workforce that felt comfortable and confident in their job security, many of whom felt overworked or taken advantage of during the pandemic. However, 2023 is bringing about a new trend: Quiet Hiring. Companies that can’t increase their headcount are instead tasking current employees with more work, and employees are agreeing to it because they no longer feel so secure in their roles.
So, what’s next for the job market?
The job market can feel cyclical. Last year was a strong, aggressive candidate’s market. We predict the scales will begin to rebalance in the new year. Many companies, especially in the tech industry, over-hired during the pandemic and are now having to reset. What is being interpreted in the headlines as major layoffs is more so a return to pre-pandemic status quo. Quiet Quitters are now being asked once again to go above and beyond in their roles. Some might label this a return to the pre-pandemic work grind – the hustle and bustle. Hiring is less frenetic than it was in 2022, but once again steady and consistent as it was in 2019. We cannot ignore the question of a looming economic recession, but if the past 3 years have taught us anything it is that we can feel confident in the resiliency of the job market. You can read our in-depth predictions for 2023 in the Career Group Companies Market Trend Report. Download industry-specific data for all your hiring needs, and get the 2023 salary guides to inform your career search in 2023.
Here are some of our predictions for hiring trends in the new year:
Temporary Hiring Will Take the Lead
When there is uncertainty or a downturn in our economy, temporary hiring always seems to take the lead. For clients who are experiencing layoffs, many of whom over-hired after the pandemic and are now having to reset, hiring temporaries is the best way to bring on additional support without adding to headcount. The temporary and freelance talent that we manage is outstanding, and many have been part of our talent pool for over a decade. Our temporaries are strong professionals at all levels with the same commitment as our full-time candidates.
More Pay Transparency
The biggest driving force for change in the marketplace in the next year will be salary transparency. New York City made waves this fall as the first city to require a salary range to be disclosed on any direct hire or temp-to-hire job listing. California has followed suit. This push for public salary transparency online – on job listings, and on apps like Fishbowl – has left many of our clients reviewing internal pay policies and correcting any discrepancies to adjust for current market rates. The best way to determine the budget for a role is to partner with our recruiters. We are marketplace experts — constantly working with the industry’s top talent and the best firms across every industry. We have leading industry intel and we are uniquely positioned to advise our clients on current market trends and data.
Hybrid Work over Fully Remote Roles
Last year, many job seekers were prioritizing fully remote opportunities. We have noticed a sizable and positive trend in candidates' willingness to work on-site a few days a week. It is important to note that candidates are still heavily prioritizing flexibility in their searches, but we are counseling entry-level talent to ensure they understand the importance of on-site work culture, cultivating mentorships in person, and gaining workplace experience. Our clients, likewise, have been offering fewer fully remote opportunities, and instead are opting for hybrid positions that grant flexibility. This means candidates often have to be located in the same metropolitan area as their employer in order to be considered, or a commutable distance away, which is a shift from 2 years ago.
The job market is ever-evolving and we are staying on top of the latest trends so we can better serve our clients and candidates. For more 2023 hiring trends, download our in-depth Market Trend Report. The New Year is a great time to look for a new job, and it is also a great time to hire talent. Start your search today with the recruiting experts at Career Group Companies.