I am making one prediction on what will impact recruiting functions the most in 2024 in Australia. It is not Ai and it’s not the economy.
It is this:
The WGEA publication of Gender Pay Gap data for all employers with over 100 employees.
Whilst many employers will be fine I truly believe this is going to be a huge issue for others.
How will this impact recruiting teams?
1. Significant impact on employer brand and the knock on effect of being able to attract.
2. Because of 1, less women will likely apply exacerbating the under representation of women in the recruitment process which we know to be a driver of the gender pay gaps.
3. Data shows 70% of employees go as far as saying they would consider looking for a new job if their employer didn’t demonstrate commitment to promoting a diverse workplace (Yello, n.d) - this will drive higher turnover resulting in more vacancies to recruit for. Putting further pressure on 1 & 2.
4. Data also shows that 63% of job seekers say they check social media for employee and consumer comments about workforce diversity or lack thereof at a company (Careerarc, 2021) - it’s safe to say the WGEA website will also now be checked!
My prediction is there will be much more scrutiny on the recruiting processes ensuring from attraction through to onboarding that there is an equitable hiring process - not just in pay, but in candidate experience.
The latter is why we launched the Candidate experience by gender feature on Benchmarcx. Here you can see if there is any difference in CX by gender across 100 data points and how does this benchmark against real industry data. Eg is our application process more favourable for men vs women? What about our interviews? What about onboarding? You can then work to close any experience gap identified.