Employer Branding NOW 2023

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.