77% of companies say hiring is no longer city-dependent
The pandemic has forced a recruitment rethink, and fundamentally changed how businesses are attracting top talent in what has become an even more crowded market. according to a US-wide survey of hiring managers by Talent Works, which surveyed hiring managers across the US.
Location no longer a hiring consideration
Remote working has removed location as a top hiring consideration with more than three-quarters (76%) of US companies saying hiring is no longer city-dependent, while 90% of senior executives expect to now work from home moving forward.
It’s a change that many industry experts have already begun to see:. According to Jenny Dearborn, Chief People Officer of Klaviyo, now more than ever, "companies are going where the talent is, and hiring them to work remotely, not waiting for talent to come to them, to work in-person". And therefore, Instead of hiring the best leader who will make the commitment to commute into an office every day, "now we're saying, let's hire the best leader in our time zone, or in the country, or the world".
Jody Robie, SVP and Shareholder, North America at Talent Works, says: "Companies are reconsidering their recruitment strategies, and, as the research shows, with location less of an issue, many are casting their nets wider to capitalize on bigger talent pools in markets they may not have considered before.
Employee Value Proposition adjustments to reflect priorities
When it comes attracting new hires, 77% of employers have adjusted their Employee Value Proposition (EVP) during the pandemic to reflect a change in candidates' priorities, and. a further 16% plan to make changes.
Having a strong EVP is shown to boost new hire commitment and decrease annual employee turnover, while also establishing expectations amongst the workforce.
"The majority of respondents indicated that they have also adjusted their EVPs and increased hiring budgets, and many are looking to outsourcing hiring during this exciting and challenging time so that they can stay laser focused on business growth," adds Robie.
Hiring managers plan to use these budgets in a variety of ways, including using internal HR/recruiters (50%) and executive search firms (37%). The survey also found that hiring managers under 35 were more likely to use Recruitment Process Outsourcing (RPO) teams (13%) than hiring managers over 35yr (2%).
- Why your recruitment process must be more thoughtful in 2023Human Capital
- Hiring activity for tech workers is rising despite layoffsTechnology & AI
- EY: Top 10 opportunities for technology companies in 2022Digital Strategy
- Why remote freelancers are smart hires, and how to find themHuman Capital