UK hiring strategies are evolving due to economic pressures and changing candidate expectations, as highlighted in a recent report.
- Nearly half of UK hiring professionals, 47%, have reduced budgets in response to financial challenges.
- In contrast, 30% of these professionals are increasing their investments in technology to cut costs and streamline recruitment.
- The focus is shifting towards skills-based assessments, with 72% of organisations using them to predict candidates’ potential.
- Mature workers and internal mobility are becoming key solutions to talent shortages identified by 46% of respondents.
UK hiring strategies are undergoing significant changes, driven by economic pressures and evolving candidate expectations. HireVue’s Global Trends Report reveals that businesses are adapting by cutting budgets, with 47% of hiring professionals in the UK reducing expenditures. However, despite these constraints, 30% are opting to enhance their technological capabilities. The aim is to refine recruitment processes and identify cost-effective methods to attract quality candidates.
As companies tighten financial controls, there is a noticeable shift towards employing technology in recruitment efforts. By increasing tech budgets, organisations hope to streamline their hiring procedures, better target potential candidates, and ultimately achieve economic savings. This approach underlines a drive toward economically conscious, tech-enabled recruitment solutions amidst uncertain times.
The traditional reliance on resumes is being questioned as companies turn to more objective measures of a candidate’s capabilities. An overwhelming 72% of organisations now prioritise skills assessments to ascertain true potential, with 34% focusing on candidates’ potential growth rather than their past experience alone. This aligns well with candidates, 83% of whom are open to skills assessments while 71% believe in their transferable skills.
Tackling talent scarcity remains a pressing issue, with businesses embracing mature workers and internal mobility as vital strategies. Approximately 46% of respondents are actively seeking to recruit mature employees, recognising the value they offer in terms of experience and a broader talent pool. Additionally, 44% are promoting within their existing workforce to nurture growth, though awareness of such opportunities remains limited among candidates.
Despite the economic challenges, Diversity, Equity, Inclusion, and Belonging (DEI&B) goals remain central to many organisations’ mission. Almost half, 45%, of surveyed businesses have largely achieved their DEI&B objectives, leveraging internal training to address biases. However, over half still face challenges in meeting these goals, indicating an ongoing commitment to building inclusive workplace environments.
Innovative and inclusive hiring strategies are essential to navigating the economic challenges faced by UK businesses.
