59% HR leaders believe that there would be selective hiring in 2023: Survey

71% of leaders believed that attrition had declined in 2023, while 17% believe it s the same as 2022 and 13% stated that it had increased

The survey conducted among human resource (HR) professionals found that 59 per cent believed that there would be selective hiring in 2023. 33 per cent of leaders believed that it would be aggressive hiring while seven per cent of leaders believed that there is a pause in hiring.

Biz Staffing Comrade Pvt Ltd, a recruitment and selection services provider, released the results of its survey on the current and future state of the HR landscape, following an event that saw the participation of several HR professionals.

More than 30 HR leaders participated in the survey that aimed to understand the current and future state of the HR landscape,

 

Attrition and company growth

The survey also revealed that approximately 71 per cent of leaders believed that attrition had declined in 2023, around 17 per cent believed it remained at similar levels compared to 2022 while about 13 per cent of participants believed there was an increase in attrition in 2023 compared to last year.

The survey also found that approximately 48 per cent of leaders believed that they are experiencing steady growth, while 20 per cent believed that their business is maintaining a similar level as last year. Additionally, 16 per cent of leaders believed that they are growing aggressively, while only eight per cent perceived a decline compared to the previous year. Another eight per cent of leaders believed that they are currently realigning investments.

Most important factors for candidates

The survey also highlighted that the most important factors for candidates in deciding a role included considerations such as compensation, work-life balance, job security, advancement opportunities, learning new skills, priorities, and global exposure amongst others.

Jasvinder Bedi, a managing partner at Biz Staffing Comrade Pvt Ltd said that these insights were crucial to understanding and navigating the current economic uncertainties faced by HR professionals.

He said, “Human Resource professionals navigating economic uncertainty and an ever-shifting work environment will pursue new approaches and new technologies to better develop and retain talent. Today, the success of any modern organisation depends on the success of its workforce. However, there is a persistent skills gap across industries, which has a direct impact on productivity, business growth and innovation. Hence, considering the increased focus on people capability and the asymmetric talent war in the market, the role of talent acquisition has become critical to organizations.”