As the use of Software-as-a-Service (SaaS) solutions continues to grow, so too does the need for talented professionals to manage and operate these solutions. Unsurprisingly, talent acquisition in this SaaS recruitment is shifting too. The COVID-19 pandemic and the subsequent rise in remote working is causing dramatic shifts in how employers approach the hiring process. Companies need to be aware of these trends if they want to remain competitive in the SaaS industry and attract top talents.
2023 SaaS Recruitment Trend #1: Remote Interviewing and Hiring
Remote hiring and interviewing are on the top of our list of SaaS recruitment trends this year and for good reason.
Prior to the COVID-19 pandemic, remote interviews and hiring was traditionally reserved mainly for Silicon Valley start-ups who prided themselves on flexible and innovate working environments. In just two years, the mainstream corporate landscape has caught on.
Now, we’re seeing a major shift in the way SaaS businesses recruit and hire employees with remote hiring and interviewing leading the charge. Researchers from job website Ladders found that there are three times more remote jobs in the United States compared to 2020.
This trend is expected to accelerate in 2023, as employers increasingly rely on virtual interviews to evaluate potential new hires.
New technology platforms are making remote recruiting easier than ever before for tech firms of all sizes. For instance, software solutions such as video interviews or online assessments allow employers to quickly assess a candidate’s qualifications from anywhere in the world – streamlining the recruitment process significantly.
Additionally, these platforms enable recruiters and hiring managers to connect with potential candidates more efficiently and increase their access to global talent pools.
2023 SaaS Recruitment Trend #2: More Virtual Assessments
With the increasing digitalization of recruiting processes, virtual assessments have become an important tool for SaaS businesses to evaluate potential candidates.
Virtual assessments can provide recruiters with valuable insights into a candidate’s skillset and aptitude in a cost-effective manner by eliminating the need for physical assessment centers or interviews.
Companies can use these automated tests to assess candidates in areas such as problem solving, logical reasoning and communication skills while also providing them with feedback regarding their performance. This allows companies to quickly find the ideal candidate without relying on lengthy interviews or manual selection processes.
2023 SaaS Recruitment Trend #3: Tech Labor Shortage Causes War for Talent
Although the tech labor shortage isn’t new, governments and organizations are bracing themselves for another year muddled by a highly competitive recruitment environment.
The impact of the tech crunch is expected to worsen. Shocking figures from Korn Ferry’s “Future of Work Series” describes a looming and unexpected tech talent shortage across industries and continents. There will be a global human talent shortage of more than 85 million people by 2030 and could result in $8.5 trillion in unrealized annual revenues.
Companies and government agencies are already struggling to find enough qualified SaaS employees and they are now competing with each other for limited resources. This competition will drive up wages and create more attractive benefits packages that could outpace those offered by non-tech employers.
The report also notes the global war for tech talent could force organizations to train in-house SaaS talent themselves and increase hiring of people straight out of school.
2023 SaaS Recruitment Trend #4: More Job Openings in AI-Driven Industries
A growing number of industries are expected become more reliant on automation and Artificial Intelligence (AI) for improved performance and operations. AI-driven industries like IT, FinTech, telecommunications, healthcare, automobile, and ecommerce will have more job openings this year.
Many companies are seeking out SaaS professionals with experience in technologies such as machine learning and natural language processing.
For recruiters, there’s no better time than now to take advantage of these opportunities since they can offer higher commissions compared to other areas of SaaS recruitment.
2023 SaaS Recruitment Trend #5: Title Inflation
As companies adjust to a new normal and shift their recruiting efforts, one trend has emerged as particularly strong: title inflation.
Title inflation refers to when job titles are made grander than they would normally be in order to attract the best applicants. For example, a receptionist job title is inflated to “Director of First Impressions.”
With the growing competition for talented SaaS professionals, employers are increasingly using flashy titles as a way to stand out from other job postings. These titles often reflect an increased level of responsibility or task complexity that goes beyond what may actually be expected from a particular role.
While this might help bring in people who have more experience or knowledge than initially sought for, it can also lead to misunderstandings about roles and expectations down the line. It also may put off certain groups, particularly women and those from underrepresented communities from applying.
Title inflation may help employers and recruiters find talent in a competitive job market, but it can end up hurting your SaaS business in the long run.
It is clear that the SaaS recruitment landscape of 2023 will be drastically different than what we know today. More companies will strive to tap into new technology and processes to better manage their remote workforce, attract and retain top SaaS talent, and reduce costs associated with onboarding and hiring procedures.
Candidates can also expect more virtual interviews, virtual assessments, job title inflation, and more job openings in AI-driven industries such as IT, FinTech, telecommunications, healthcare, automobile, and ecommerce.
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