Predictive HR Analytics & 2nd Quarter Trends

The second quarter of 2022 is already showing promise. The hiring market looks optimistic, and organizations are revitalizing their recruitment efforts to effectively bounce back from the turbulence of the last two years- and they’re doing it with the help of predictive analytics.

Unfortunately, the challenges of yesterday haven’t resolved themselves overnight. The struggle to find and retain top talent is still an uphill battle and shouldn’t be taken lightly. The upside is that the agitation to the market in recent years has uncovered several new recruiting techniques that have proven beneficial to our industry. We’ve rounded up a few top trends you’ll do well to address in Q2.

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The Candidate is Still King

Recruiters and enterprises directly are paying close attention to what job seekers (and current employees) want in a role. As the market continues to lean heavily in favor of talent, those with open positions are at the mercy of what candidates are seeking. What is that exactly?

Flexible Work Options

Remote work offerings are still top of mind as candidates express the growing need for flexibility. 22% of job seekers have declined a job offer due to a lack of WFH options, and recent research by FlexJobs shows that more than 50 percent of men and 60 percent of women will quit their jobs if they aren’t offered a remote work option.

Expanded Benefits

Likely in response to the battle for top talent on top of a global pandemic, many companies have added to their employee offering in areas such as mental health services, flex scheduling, and paid family leave. In fact, 88 percent of HR leaders have added new perks to their benefits packages since the start of the pandemic. As the fight for talent continues, this trend doesn’t appear to be slowing down anytime soon.

Strides in Pay Transparency

Findings from Beqom noted that when employees perceive a pay gap, regardless of whether the pay gap actually exists, it results in a 16% decrease in intent to stay. Given that information, it’s no surprise that transparent communication has become such a hot topic of conversation.

While this may look different for every organization, the goal of pay transparency is ultimately the same: Give workers an understanding of why they’re paid what they are — and what they need to do to reach the next tier on the pay scale.

Proactively Engaging Prospective Candidates with Predictive Analytics

Previously reserved for recruiting executive-level candidates, recruiters are now taking this approach down to even the entry-level positions. Companies have noticed the ineffectiveness of passive recruiting strategies in recent years. Unfortunately, that has been widely attributed to the widening labor skills gap.

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Engaging candidates early allows them to build a relationship with you, so they’re more likely to seek you out for employment opportunities before your competition. This trend will continue to increase in popularity, especially as the available talent pool catches up with the demand for skilled labor.

Use of Advance Screening Tools

Evaluation tools have been around for decades; however, reviewing resumes and conducting interviews have held their place as the most common screening methods for some time. While there’s certainly a place for these techniques, they fail to provide quantifiable insight into the candidates’ skills and abilities.

As human judgment comes up short, recruiters are turning to tech to fill the gaps. From predictive analytics and modeling to skill tests and behavioral assessments, Talent Acquisition pros are using the latest technology to seek out the best candidates for their unique roles. Recruiting and hiring will only continue in this data-driven revolution. Companies who leverage predictive analytics, reduce their workloads on human resources, and leverage that data effectively will make significant headway in the quarter ahead.

While businesses will face plenty of uncertainty in 2022, these recruiting trends will help them hire the right people for the right opportunities and at the right time. By focusing on candidate priorities, proactive engagement, and implementing the right tech, companies are working hard to gain and retain a competent workforce in the face of a general talent shortage.

PREDICTIVEHR offers the latest in data-driven technology to ease your hiring woes in 2022. Act now and retain the top talent you need today. Click here to get started.