July 14, 2023

Key learnings from RecFest 2023

The Ally team recently attended RecFest, an informative, engaging and fun event for Talent Acquisition practitioners, resourcing leaders and hiring managers. With over 100 sector-leading speakers across 10 stages and more than 70 activation sites, it was a busy day! Greg Simidian, Co-founder and CEO, Arushi Bhardwaj, Head of Learning and Development and Customer Success, along with Sarah and Georgie, thoroughly enjoyed getting to speak to TAs and HR professionals directly.

From early careers recruiters to TAs in charge of hundreds of thousands of people, everyone we met was so open and friendly; we learned first hand how the uncertain economic climate is affecting the recruitment industry and also gathered some invaluable insights from industry leaders and innovators on key trends.

Thanks to the event organisers, the welcoming, convivial atmosphere of RecFest made it easy to make authentic connections in just a short amount of time. Overall, it was a wonderful experience for the team.

Key trends in corporate recruitment

The corporate recruitment market is constantly evolving, driven by shifts in skill demand, economic challenges and changes within the industry. At RecFest, we learned more about the current corporate recruitment climate and how technology, economic challenges and the changing role of TA professionals is impacting the industry. We also had the chance to join discussions about the importance of brand to attract and retain top talent, as well as strategies to build a positive work culture and foster resilience during times of uncertainty. Here are our top learnings:

Economic challenges

Economic fluctuations and global events have had a significant impact on the recruitment market. In periods of economic uncertainty there is often an increase in cautious hiring practices and budget constraints. Companies tend to streamline their recruitment processes, find innovative ways to attract talent and adapt to changing market conditions to ensure long-term success.

Technology and skill demand

Advancements in technology and shifting market dynamics have fueled the demand for specialised skills. Artificial intelligence, data analytics and cybersecurity are experiencing unprecedented growth. Employers are increasingly seeking professionals with expertise in these areas to drive innovation and stay competitive in the market. However, there is a lag in supply of talent for these roles, making the market increasingly competitive.

The future of talent acquisition lies in leveraging advanced technologies and data-driven approaches. Talent Acquisition Technology (TAT) plays a vital role in streamlining and enhancing recruitment processes. By utilising artificial intelligence, machine learning, and automation, TAT can help identify and engage with top talent more efficiently, reduce bias in hiring practices, and provide valuable insights for strategic decision-making. This gives organisations a competitive edge. At the same time, it means that TAs need to stay updated with the latest trends to know how to effectively leverage emerging tools and platforms.

The changing role of TAs

To address the evolving challenges of talent acquisition, industry professionals are transitioning from traditional operational roles to becoming more like strategic talent advisors. Instead of merely filling open positions, TAs are now taking a holistic approach, aligning recruitment strategies with long-term business goals, and providing guidance on talent management, succession planning, and organisational development. This shift enables companies to build agile and future-ready workforces.

Importance of brand and positive work culture

Creating a supportive and inclusive environment where employees feel valued and motivated is one of our core values at Ally, so it was encouraging to hear that a company’s brand and work culture play such a pivotal role in attracting and retaining talent. We learned that job seekers are increasingly prioritising companies that align with their values and that offer opportunities for growth and development, all while fostering a positive work environment.

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