Experts weigh in on this year’s hiring trends and insights for next year.

As we reflect on the past year and look toward 2024, it’s evident that the world of work has experienced significant shifts. The transition from the year of quiet quitting in 2022 to the year of corporate reckoning in 2023 has been particularly turbulent for many. Hiring trends in 2023, saw companies recalibrating their workforce with layoffs and introducing back-to-office mandates, a sense of hesitancy permeated the job market. To gain a deeper understanding of what the future holds for hiring practices, we tapped into the knowledge of industry experts who shared their insights and predictions for the year 2024. From a reckoning in employee experience to the rise of AI in recruiting, we unpack what professionals can expect in the ever-changing job market.

Year of Corporate Reckoning Continues

In 2023, businesses faced a wake-up call as they navigated through economic headwinds. Companies that had expanded rapidly during the boom years found themselves overstaffed and were forced to make tough decisions, leading to layoffs across various sectors. Additionally, the push for employees to return to the office met with resistance from a workforce that had grown accustomed to the flexibilities of remote work.

Future of work and career expert Dr. Lauren Pasquarella Daley warns of an employee experience reckoning. She believes that companies that reduce flexibility and care for employees in 2023 will face repercussions in the hiring arena as their reputation among potential hires takes a hit.

“I think companies and leaders went too far this year doing away with flexibility and care to their employees, and it will come back to bite this in 2024 when they need to hire again,” says Daley.

2023 Hiring Trends: Caution Meets Opportunity

As we cast our gaze into 2024, experts offer varied insights into what the future holds for hiring and employment trends. Tech Recruiter and author Jonathan Kidder envisions a year of heightened hiring activity with a note of caution due to the upcoming election year. 

Kristen Forti, CEO of Epitome Executive Search predicts a continuation of the hesitant job market, characterized by a slower pace in filling leadership roles and a wait-and-see approach from both employers and candidates.

Forti reflected on the environment, saying, “There are leadership opportunities out there, but there’s a slower pace of filling them and a lot of ‘wait and see’ behavior on both the employer and candidate side.”

Kelly Monahan is a Managing Director at UpWork. She terms 2024 as the year of job disruption. David Fano, Founder and CEO of Teal, takes a more balanced view. He suggests that the year could be one where the value exchange between employers and candidates levels out, resulting in more deliberation from both sides around career decisions.

The Impact of AI on Hiring & Recruitment

2023 saw significant growth in AI’s capabilities, particularly in the career and job search space.  Andrew Seaman is the Senior Managing Editor for Jobs and Career Development at LinkedIn. He believes AI integration will be THE major theme for 2024 hiring and recruiting. 

AI’s role in recruiting has been expanding, and according to Johnathan Kidder, this trend will continue. He speculates that AI could play a more significant part in sourcing and outreach. That would impact not just the hiring process but also the job search strategies of executives. 

“Executives should remain well-versed in AI’s influence on the hiring landscape, adjust their approaches to harness AI-driven tools effectively, take proactive steps to maintain a strong AI presence, and continually enhance their skill sets to stay competitive in the job market,” Kidder said.