The staffing industry is heading into an era of ‘Extreme Recruiting’ with predicted escalating pay rates, a technology arms race, sourcing innovation and changes in the screening process and upskilling according to the opening keynote at Executive Forum Europe 2022 by John Nurthen, Executive Director, Global Research, at Staffing Industry Analysts.

The Keynote, ‘Growth Opportunities in an Increasingly Digital World’ discussed the post-pandemic staffing market and technology trends and digitisation as well as potential market disruptions in 2023.

Nurthen’s opening keynote also discussed technology change and human adaptability.

“The difference between our ability to adapt and the exponential growth of technology is where we are experiencing a skills gap and there is every likelihood that the gap is going to get worse,” Nurthen said. “This may be bad news for business and for society but it’s probably good news for the long-term health of the staffing industry. Where skills are in short supply, demand for workforce solutions intermediaries will be strong.”

Also discussed was how AI capabilities have become much more mainstream with AI chatbots, conversational AI in screening candidates, programmatic job advertising and candidate matching.

Furthermore, Nurthen highlighted how staffing firms have also been actively automating their processes and many have turned to third-party Robotic Process Automation but presented research that suggests automation is a gradual process.

According to Nurthen despite what happens to the global economy next year, technology investment is not expected to slow down much.

“I would say that we’re heading for an era of extreme recruiting,” Nurthen said.

He noted that that escalating pay rates are expected for the next few years until inflation comes down, but potentially ongoing as the demographic crisis continues to bite.

A technology arms race is also predicted to continue with a ‘spending spree not to gain a competitive advantage but just to stand still’. Investment in automation, new tools and new business models as well as sourcing innovation, creative pay/reward solutions, flexibility in location, condition and hours, bootcamp/upskilling models, and less screening out/more screening in were also highlighted.

Executive Forum Europe concludes today in London. Today’s Keynote ‘How the Future Works’ will be presented by Gerd Leonhard, Futurist, Humanist, Author of ‘Technology vs. Humanity’. There will also be a Keynote Panel ‘Building the Staffing Firm of the Future’ moderated by Ursula Williams, COO of SIA, featuring  Nurthen, Federico Vione, CEO and Founder of the W-Group, and Bev White, Chief Executive of Nash Squared.