If 2021 was the year of the Great Resignation, 2022 was the Great Reshuffle and 2023 was the Great Reset. During this period, we saw how the unemployment rate rose to a historic high.

What does 2024 hold for?
 

As per the U.S. Bureau of Labor Statistics' latest report, the total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at a historic low of 3.7 percent. This indicates that the U.S. labor market is strengthening and is on the path to recovery,

Although many other aspects call for deeper consideration, we will save that discussion for a different day.

In 2024, there will be several unexpected shifts in the job market. A few years ago, metaverse took off as the latest technology, and before that, we saw 5G, Web3, and blockchain finding popularity and interest among tech experts. Today, we're experiencing a rapid transformation with the current AI boom, and we anticipate this evolution to persist as the AI industry matures and as other technologies continue to emerge.

Organizations need a strong workforce to navigate through the changing work landscape. However, despite the low unemployment rates, many are struggling to find quality candidates, retain top employees, and engage current workers. Moreover, organizations are realizing that their employer branding and job advertising efforts are falling short of attracting quality candidates.

So, how can more organizations improve their brands in 2024? What changes should companies bring to their approach to talent acquisition?

As you finalize your talent acquisition strategy this year, it is time to look into the latest trends, labor stats, and other developments to understand which way the workforce wind will blow this year.

In this issue, Jill Miller, VP of Global Talent Acquisition at iCIMS, in 20/24 Vision: Sharpening The Focus On Recruitment Strategies In 2024 With Data, provides insights into the key stats every recruiter must consider as they form a talent acquisition strategy for their organization.

In Forget Hiring For “Traditional Skills’, Santos Videla, Chief People and Education Officer at Globant, discusses the traits employers should look for in candidates. Check out the strategies hiring and recruiting experts must employ to craft job descriptions that resonate with the current pool of talent, in Attracting Right Talent: How To Craft Compelling Job Descriptions by Brett Farmiloe, Founder, CEO & CHRO of Featured.

Also featured in this edition is HR.com's exclusive industry research report, “State of Employer Branding and Recruitment Advertising 2024”, where we highlight the practices that are linked to better employer brands and discuss the kinds of job advertising techniques most highly associated with the ability to recruit great employees.

Also, check out the other expert columns, featured in this edition, to understand what is in store for recruiting and talent acquisition, especially in realms of employer branding and recruitment advertising.

Happy Hiring!

 
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