Some employers are increasing tech budgets to improve hiring efficiency as talent shortages persist, according to HireVue’s global trends survey. The report found that 30% of employers increased hiring budgets while 50% reported a greater emphasis on internal mobility, especially in sectors that experienced more hiring freezes or layoffs.

“This year’s survey confirms that we’re at an inflection point in global workforce trends, where demand for new skills is colliding with changing candidate demographics and expectations,” said Anthony Reynolds, CEO at HireVue. “The good news is that many job seekers are pausing searches to stay longer-term in careers at companies that will help them upskill, reskill and grow. Equally, employers are willing to fill new roles by retaining and investing in their current team members.”

The report also found that employers are exploring alternatives to traditional hiring approaches such as relying solely on résumés. Instead, almost half of those surveyed, 48%, adopted a skills-first approach to talent acquisition, forgoing education requirements and past work experience.

In addition, organizations are prioritizing hiring technology to efficiently validate candidate skills amid changing requirements. Of the leaders surveyed, 58% leveraged standardized assessments, 32% implemented game-based assessments and 40% added chatbots or text recruiting to their processes, according to the report.

For the report, HireVue surveyed more than 4,000 talent leaders across the software, finance and retail industries. In addition to talent leaders, HireVue surveyed 1,000 US candidates about how the current economic state affects their job search.