STOCKHOLM, SWEDEN, Might thirtieth, 2023 -Universum’s Employer Branding NOW 2023 examine, performed throughout the first quarter of this 12 months, reveals college students and dealing professionals are assured concerning the hiring market – this regardless of slowdowns in sure industries and areas. Eight in 10 college students say they’re assured about securing a job within the coming 12 months, and over 50% claimed to be considering transferring jobs inside the subsequent 12 months. Even within the occasion of a layoff, practically 9 in 10 professionals say they’re assured about getting a brand new job.
“However a flurry of stories about layoffs and financial contraction, most firms are nonetheless fighting a expertise shortfall, and the issue isn’t going to enhance anytime quickly,” explains Yusuf Azoz, CEO of Universum.
Universum, the worldwide chief in employer branding, surveyed over 1,700 expertise leaders from 75 international locations between February 15 and March 31, 2023, and over 1000 college students and professionals from 11 main economies* throughout the same interval. The analysis appears to be like at a variety of points together with employer branding, recruitment advertising and marketing budgets, data-driven decision-making, expertise perceptions and worker engagement. The survey contains insights from the World’s Most Enticing Employers (WMAEs), a cohort of the highest international employers as recognized by job seekers all over the world.
Towards this backdrop of continued expertise shortages and candidate confidence within the job market notable findings from the 2023 analysis embody:
Employer branding is much more vital in 2023. Among the many WMAE, 78% say employer branding is a prime precedence —up 11 factors in two years. Even for small- and medium-sized employers, the bulk say employer branding is a vital space of HR funding.
Recruitment advertising and marketing budgets stay excessive. Practically half (48%) of the WMAE report their employer branding price range has elevated since 2022 – a notable discovering given hiring slowdowns.
Differentiation is a key mandate in 2023. Given the competitors for prime expertise, employer branding professionals are targeted on standing out from opponents; 60% of the WMAE say differentiating their employer manufacturers and EVPs from opponents might be a key goal within the coming 12 months.
Many employer manufacturers are revising their EVP. Worker well-being and versatile working situations — areas of focus throughout the pandemic years — at the moment are emphasised in fewer than one in three EVPs. The potential cause: these have develop into baseline expectations, and subsequently present restricted differentiation.
Worker expertise design is more and more vital to employer model technique. We discovered a rise within the variety of main international employers who claimed that management growth and folks administration practices had been being influenced by their employer model methods.
Information-driven resolution making is now the norm. In 2023, 88% of firms within the World’s Most Enticing Employers say they “regularly” or “at all times” use knowledge to drive choices, with an growing use of dashboards to watch the recruitment funnel from model consciousness and candidate conversion, to worker engagement and retention.
“Information-driven insights are completely vital when expertise markets are in flux, as they’re now,” says Richard Mosley, Universum International Shopper Director.
To obtain a replica of the total Employer Branding NOW report, go to this hyperlink.
Universum is a data-driven, insight-led employer branding company. Based in Stockholm, we at the moment are lively in over 60 international locations, with key hubs in Paris, Berlin, London, New York, Singapore and Shanghai. We offer our shoppers with the analysis, technique and artistic options they should compete extra successfully for expertise.
*Markets included within the expertise survey: Brazil, Canada, China, France, Germany, Italy, India, Mexico, Sweden, UK, US.
Chief Advertising Officer, Universum
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