Sales (888) 324-9205 | Support: (800) 889-4422
 

iCIMS 2023 Workforce Report: Is it time to press the reset button?

 
Amy Byrnes
December 1, 2022

After a few years of great uncertainty and disruption, could 2023 be the year of the great reset?

Our recent survey of 3,000 job seekers says, yes! Employers and talent alike are ready to redefine work norms as we prepare to enter the new year. Our 2023 Workforce Report shows you how to establish a new foundation for the future of work that will be critical for navigating the changes to come.

“Things are not going to be how they were in the past,” said iCIMS Chief People Officer Laura Coccaro. “There needs to be a new way to move forward.”

Some of the highlights include:

  • One-third of workers will look for a new job before the end of 2023
  • 80% of workers do not feel secure professionally or financially
  • ~60% of people find it difficult to find jobs to apply for at their company

The third annual report highlights key business and talent trends and provides insights on hiring to help employers adapt and innovate in a labor market in flux.

 

Redefining work in the “post-Covid” world

Like everything else in this murky “post-pandemic” time – between a global shutdown and complete recovery – there’s not just one tidy narrative to describe the mindset of today’s workforce.

People are responding differently to all the uneasiness: looking for new jobs, staying put or shuffling priorities. What is certain? That all that ambivalence has created a culture of change.

Watch on-demand session from INSPIRE 2022 to learn how top industry leaders navigate today’s challenging labor market.

 

 

Nearly 80% don't feel secure professionally or financially.

Fear of the unknown creates a culture of change

Our surveys showed that people are worried about their pocketbooks and job security. In fact, most people are making employment decisions based on the economy, with nearly 70% reporting that they are worried about the country’s economic health.

Nearly half (47%) are concerned about what a downturn might mean for their job and finances, with only 22% feeling secure professionally and financially. Most telling, 21% say the economy is impacting their mental health.

“While there’s no crystal ball, what we can do as employers is communicate transparently on how the business is performing and what this means,” said Coccaro, who offered a few tips. “Establish a level of trust with employees, lead with empathy and proactively communicate the business strategy and performance so employees can get their job done and know what to expect.”

 

63% of job seekers say that a top factor in their decision to accept an offer is whether the job is remote, hybrid, or in-perosn.

Flexibility is still king for workers

Whether they want to get dressed and go into the office or work from home in their slippers, 93% of our survey respondents said flexibility was top of mind when deciding to apply for or accept a job. According to our survey, 63% of respondents ranked where they worked (remote, hybrid, in-person) as one of the top three factors in their decision whether to accept a job.

What else is important to workers? Not surprisingly, traditional benefits (healthcare, dental, 401k) ranked high for 53% of respondents, while more untraditional benefits (mental health days and gym membership) were much less important.

“Hybrid and remote work options are here to stay,” said Chinor Lee, iCIMS global head of culture, belonging and diversity. “Employers unwilling to bend must ask themselves if losing out on top talent is worth the risk.”

 

Nearly 60% of people said they were more likely to get training or learning opportunities in an in-person environment.

You’ve got to be in it to win it

The foundation of any healthy relationship is good communication, and that is just as true in the workplace. Employers need to authentically communicate their culture and workplace expectations to attract talent that’s aligned with its vision and culture. And that transparency helps employees know what’s expected of them and how to effectively grow within the company.

Employees want an even playing field that ensures professional development opportunities are provided to both in office and remote workers. According to our survey, more than half of respondents said they believed they were more likely to be promoted working in-person than remote. Of those, 41% of women thought they were less likely to be promoted if they worked remotely versus 32% of men.

Finding a balance between structure and flexibility in your company’s work norms is critical for hiring top talent. However, building a loyal employee base goes beyond a commitment to a healthy work-life balance. Demonstrating a commitment to professional growth and advancement can help improve the employee experience and support retention goals.

 

Growth and internal mobility are top of mind for candidates.

The internal mobility unicorn

According to our survey, while many workers would like to advance internally, many don’t know where to start, and some are not even sure the possibility exists. Seventy percent of workers said they don’t know how to progress in their careers. And only 30% have been told how to get promoted or to the next level in their organization. Regardless, future internal opportunities are top of mind when applying for or accepting a job.

Coccaro said, “Today, employees are starting to ask, ‘Where’s my path?’ whether that’s for a new role or a stretch opportunity. The burden is on employers to define career development if they want people to stay.”

Whether your goals revolve around growth, retention or something else, the current landscape demands a new approach to talent. Consider how to meet them where they are – tailoring communications to their interests, leveraging modern engagement tools, and providing visibility into your culture and processes – to help strengthen the talent experience and future-proof your organization, even when uncertainty is plentiful.

The third annual iCIMS 2023 Workforce Report highlights key business and talent trends to help employers adapt and succeed in the upcoming year.

Back to top

Receive the latest iCIMS thought leadership directly to your email.

privacy notice

Subscribe to the iCIMS blog today

Sign up

The latest from iCIMS

Explore categories