May 2, 2023, SAN FRANCISCO – After surveying 531 talent acquisition leaders across sectors for its 2023 Hiring Insights Report, today GoodTime released the report’s manufacturing edition, featuring sector-specific insights. Based on responses from 106 talent acquisition (TA) leaders in manufacturing, the report highlights the challenges hiring leaders face to attract high volumes of qualified talent in the midst of a skills shortage and explores the changes they are making to meet their business objectives and achieve their hiring goals.
The high-level findings from the 2023 Hiring Insights Report, Manufacturing Edition, include:
- Just 44% of hiring goals were met by manufacturing talent teams in 2022
- Limitations of their current hiring technology is the biggest challenge expected by talent leaders in the year ahead
- A staggering 69% of subjects reported layoffs; 19% reported a reduction in force of 20% or more
- 36% of respondents will improve time-to-hire and candidate relationships in the coming year
- 32% of TA leaders look to improve efficiency and automation in 2023
Economy hit manufacturing TA teams
The report paints a stark picture of the obstacles faced by manufacturing TA leaders in the middle of the economic downturn, with 26% of respondents citing remote work compensation expectations, changes in hiring policies, and culture disconnect as the top challenges of 2022. In today’s economy, TA leaders must adapt their work structures, policies, and talent acquisition strategies to the new world of work while addressing the aftermath of layoffs.
Time-to-hire and candidate relationships a key focus
Looking ahead, talent leaders know that hitting their goals amid high-volume hiring challenges and the sector-wide skills shortage requires a fast, engaging hiring process. Reducing time-to-hire (36%) and cultivating relationships with candidates (36%) are tied for their top focus area in 2023. Addressing their biggest challenge for the coming year and upgrading their hiring technology enables teams to deliver a well-rounded candidate experience and make headway on these top priorities.
“It’s clear that hiring teams in manufacturing are under significant strain,” said Ahryun Moon, CEO of GoodTime. “Filling their endless vacant roles with the most qualified talent possible requires teams to innovate their processes. Shifting their attention towards decreasing time-to-hire and genuinely connecting with candidates allows teams to create a comprehensive hiring process, one that places equal emphasis on speed and relationships.”
To access the full report, visit here.
GoodTime helps people and companies drive better results from their most important meetings. The GoodTime Meeting Optimization Engine automates scheduling, ensures the right people are in the room, and provides actionable insights to meet smarter. Its flagship product, Hire, allows organizations to win top talent faster with Candidate Relationship Intelligence. Over 300 leading companies like Spotify, Slack, Pinterest, Okta, HubSpot, and Box have scheduled over seven million smart meetings with GoodTime. Learn more at goodtime.io.