Latest hiring trends show experience taking a back seat to potential

For several years now, finding and hiring talent has been top of mind for employers. But the picture is changing. Often, there are still more open jobs than qualified employees to fill them, but at least some studies show a shift in employers’ priorities. With the pandemic largely in the rear view, employers are working in a less desperate atmosphere—one where candidate quality is more important than quantity.

Latest trends

In March, hiring technology company HireVue released its Global Trends Report on the state of hiring and noted a change from earlier years when employers felt intense pressure to hire.

“It’s no longer a frantic reaction to fill as many seats as possible,” the report’s executive summary says. “It’s a slower, more methodical, process of finding people that have the specific skills and experiences to excel in their role now—and in future possibilities.”

HireVue surveyed 6,000 talent leaders from the U.S., United Kingdom, and Australia from a variety of industries and company sizes. Among the findings: 50% of those surveyed are targeting internal candidates in response to talent shortages. Also, 47% of those surveyed experienced reduced companywide budgets. But despite that, 30% increased their technology budget.

Why increase the tech budget? With hiring freezes and budget cuts, hiring teams are turning to tools to get work done, according to the report.