Revolutionizing Talent Acquisition: Strategies for 2024
Mita Srinivasan
10X People

Revolutionizing Talent Acquisition: Strategies for 2024

In 2024, talent acquisition is evolving with a focus on hybrid workforces, global talent sourcing, and skills-based hiring. Kamal Reggad, the Chief Executive Officer and co-founder of RemotePass, shares how companies must adapt by embracing flexible work models, valuing soft skills, and utilizing data-driven strategies.

The pursuit of top talent remains one of the most important challenges for organizations worldwide. The dynamics of talent acquisition are ever-changing — as are the expectations of potential new hires. Looking ahead to 2024, a number of trends are emerging that will impact how companies attract and retain the best talent — from ways of working, to optimizing decision-making.

The Hybrid Workforce Revolution

In 2024, remote and hybrid working models will continue to cement their place as the norm. According to a recent Forbes study, 12.7 percent of full-time employees work remotely, while 28.2% work in a hybrid set-up — and 85 percent of MENA professionals prefer companies that allow them to work remotely all or some of the time.

To excel in hiring top talent in 2024, companies should invest in robust hybrid and remote working processes and tools, ensuring that new hires seamlessly integrate into their hybrid work environment. Additionally, cultivating a company culture that values flexibility, work-life balance, and clear communication will be crucial.

Taking a Global View of Talent Acquisition

In the pursuit of top talent, geographical boundaries will continue to become increasingly irrelevant in 2024. With remote work continuing to grow as the norm, companies will actively tap into a global talent pool; this is especially true in emerging markets like Africa, where the high-quality talent of 700,000+ tech talents, coupled with strong levels of English language and convenient time zones, make it a pool of untapped potential. According to research from Google, 39 percent of hiring managers plan to increase their spending on hiring in 2024, which will create strong competition, and companies will have to appeal to — and fight for — the best global talent. Organizations must establish the infrastructure they need to hire globally and be ready to provide a seamless onboarding experience for global talent.

Skills Over Degrees: Adopting Skills-Based Hiring

The traditional emphasis on degrees and formal education gives way to a focus on skills and practical experience. In 2024, employers will prioritize candidates who can demonstrate specific competencies and relevant experience over those with impressive academic credentials. According to LinkedIn CEO, Ryan Roslansky, a “skills-first” hiring approach means that the right people end up in the right roles, ultimately doing their best work.

To stay competitive in talent acquisition, companies should make use of practical assessments and psychometric tests during the hiring process — and early on — rather than relying solely on where candidates graduated from, or which companies they’ve worked for.

A Growing Emphasis on Soft Skills

While technical skills remain critical, soft skills will continue to gain prominence in 2024. Effective communication, adaptability, emotional intelligence, and collaboration abilities will be highly sought after in candidates. Research published by Reed Recruitment in 2024 has shown that references to these skills are up 18 percent in job applications and outrank prior experience among employers’ priorities.

Recruitment processes should be adapted to assess and prioritize soft skills. Behavioral interview questions, personality assessments, and scenario-based evaluations can help identify candidates with the right interpersonal and soft skills to thrive in a remote or hybrid work setting.

Embracing AI and Data-Driven Decision-Making

In 2024, the role of data in talent acquisition will become even more pronounced. Organizations will rely on advanced analytics and AI-powered tools to make informed decisions throughout the hiring process — and to reduce issues of bias. In fact, 96 percent of HR professionals believe that AI will improve recruitment and team retention. AI has significant potential to automate routine tasks and enhance efficiency — IBM’s HR team saved 12,000 hours in 18 months after automating 280 individual tasks. These tools have the potential to help identify candidates, optimize job postings, and predict employee retention.

Committing to Human-Centricity and Employee Wellbeing

The importance of employee wellbeing and benefits will continue to rise in 2024. Top talent will seek employers prioritizing mental health, work-life balance, and comprehensive benefits packages. Recent research by Deloitte found that only 27 percent of workers think their company is committed to human-centricity.

To stand out as an employer of choice, organizations should assess their benefits offerings and adjust based on employee feedback and evolving needs. Tailoring benefits to remote and hybrid work arrangements, including access to remote healthcare services, will be particularly relevant.

Hiring the best talent in 2024 will require organizations to adapt to the evolving work landscape. Embracing flexible work arrangements, focusing on soft skills and skills-based approaches, leveraging data, prioritizing employee wellbeing, tapping into the global talent pool, and emphasizing soft skills are all critical strategies for success.

About the author

Kamal Reggad is the Chief Executive Officer and co-founder of RemotePass, a global onboarding and payroll platform, that allows businesses to easily hire, pay, and manage their remote teams across the world, founded in September 2020.