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Employer Branding NOW 2023: What were the findings?
This year’s survey of over 1,700 talent leaders about the ways they are competing in the midst of a critical talent shortage, plus a look at the specific strategies of companies identified by Universum’s research as the World’s Most Attractive Employers.
Survey Field Period :
February 2023 – March 2023
Includes more than 1,700 respondents from 75 countries.
Key takeaways from the research:
- Data-driven talent management is an imperative for 2023
- Companies should rethink what “purpose” means for their organization
- HR professionals should treat talent management as a strategic asset
- Differentiation: flexible working and work-life balance are fast becoming table stakes in the employment promise.
Trends Worth Watching
GLOBAL ECONOMIC SLOWDOWN IS NOT IMPROVING CRITICAL TALENT SHORTAGES
Research shows talent shortages are at a 17-year high, and 80% of students we surveyed say they are either very confident or somewhat confident about securing a job this year.
SOME COMPANIES ARE “LABOR HOARDING,” TAKING A WAIT-AND-SEE APPROACH
Despite the downturn, many companies fear laying off employees — both because the economy may bounce back quickly, and because they don’t want competitors poaching valuable talent. A significant number are taking a wait-and-see approach, hanging on to critical talent groups as long as possible to prevent a scramble to rehire them.
COMPENSATION MIX IS SHIFTING; EMPLOYERS TAKE NOTICE
In the past few years, when stock prices were rising quickly, many companies were issuing equity as part of their compensation package to recruit top talent. With stock prices slowing — and even dropping — companies will need to think clearly about how the market affects their total reward offer.
DIVERSIFYING TALENT PIPELINES IS KEY FOR 2024
Organizations are trying out a wide number of new tactics to keep their talent pipelines full, including upskilling, recruiting “new collar” workers, and turning to automation and AI to fill gaps.
EMPLOYER BRANDING IS CRITICAL TO STANDING OUT AMIDST TALENT DISRUPTION
The large majority of companies in the WMAE say Employer Branding is a top priority (78%). Also critical: differentiation. As more companies focus on DE&I and normalize hybrid, remote and flexible workplaces, they should revisit whether DE&I and flexible working should be leading areas of focus in their employer brand messaging.
DATA-DRIVEN DECISION MAKING IS NOW THE NORM
88% of companies in the WMAE say they “frequently” or “always” use data to drive decisions, with an increasing use of metrics dashboards to monitor the recruitment funnel from brand awareness to candidate conversion and employee engagement and retention.
Interested in hearing more about this year’s trends? Join us on June 28th at 10 am or 4 pm (CET) for our annual Employer Branding NOW Webinar!
Register for the EB NOW webinar »In our work with top Employer Brands across the globe, we see that talent leaders who take a data-driven approach also have a much more strategic role inside the organization, with a direct line to the C-suite. These are companies that are highly agile during periods of growth, and resilient during downturns.
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