3 Hiring Trends That Could Change Your Small Business in 2024

Prepare for the year ahead with these 2024 hiring trends. First, expect to see an increase in the use of language learning models like ChatGPT in all stages of the hiring process. Second, it’s likely we’ll see a continued, gradual return to offices in 2024. And, finally, expect a continuation of the trend for increased salary transparency. Learn more about these trends and how they may impact your small business.

As 2023 ended, we faced a strong labor market mostly recovered from the pandemic and ready to push forward into the new frontiers of technology. Last year brought many changes to the American workplace. One of the largest is the proliferation of artificial intelligence and language learning models (LLMs). More and more American workers and companies are turning to artificial intelligence to assist with, supplement, or fully complete their tasks. According to Pew Research, 16% of ChatGPT tasks have used it to complete work tasks. 

To be help your small business become successful, it’s important you know about what’s changing and consider how those changes might impact your small business. However, as trends come and go, one hiring practice that doesn’t change is the need to conduct comprehensive pre-employment screening with a well-established service like ShareAble for Hires®. Knowing exactly who you’re hiring can give you more confidence in your decision––no matter what the future holds.

Below you'll find ShareAble for Hire’s breakdown of the top three hiring trends for 2024, and what it might mean for you.

Here’s what’s included:

• 1. Continued Use in AI in All Parts of Hiring Process
  • Candidates Using AI
  • Companies Using AI
• 2. A Slow Trickle Back into Offices–But Not Everyday
• 3. Continued Trend of Salary Transparency
• Gear Up for 2024 with Ultra-Fast Tenant Screening through ShareAble for Hires

1. Continued Use in AI in All Parts of Hiring Process

2023 saw an explosion of AI and language learning models like ChatGPT. Across all fields and tasks, many people are exploring and discovering how this new tech can augment or replace their work––and the task of finding new talent is no exception.

Everyone from candidates to employers to recruiters are using AI tools in job searching and there’s no sign of its use slowing down.

Candidates Using AI

According to a survey by ResumeBuilder, nearly 50% of surveyed job seekers used ChatGPT to write their application materials, including resumes, cover letters, answers to application questions, and more.

Of those who used a language learning model, the majority found they received a higher response rate. Depending on how candidates use LLMs, you may or may not consider it “cheating.”

For example, some tasks that job seekers outsource to ChatGPT include:

• Formatting resumes
• Editing resumes to add stronger, or formal language
• Generating cover letters
• Generating answers to application questions (such as “Tell us about a time you didn’t meet a deadline.”)
• Generating lists of common interview questions and answers and using them to prepare
• Proofreading or editing materials in a non-native language
• Generating follow-up and thank you messages

Even in these examples, there’s a wide range of applications, from simply proofreading to full-on copy-pasting model-generated responses. As a small business owner, you’ll need to decide what you find acceptable in your hiring process.

How to Prepare Your Small Business

ChatGPT can be a helpful, powerful tool to help job searchers to get noticed. However, you should be careful when reviewing applications. Saying all the right things in a job search doesn’t always translate into hiring the best employees. These days, it’s extra important to thoroughly vet candidates to make sure they are as qualified as they say present.

Here are some ideas on what you can try:

• Review your application and interview questions––know why you ask them to begin with. Make sure your in-person and phone interview questions are high-quality and specific, so it’s more obvious when they’re answered by language learning models.
• Consider more robust skills assessmentsthat test the candidate’s real-world skills and knowledge.
• Conduct reference checks and know how to spot red flags. Helpget the scoop on a top candidate’s past performance with next-level reference checks.
• Submit your own questions to ChatGPT. In some cases, using LLMs can also make job applications weaker. AI generated responses can become formulaic and repetitive. Running your own questions through LLMs may help you spot the trends, keywords, and responses typically generated by AI.
• Run comprehensive background checks, including criminal records checks, identity verification, and employee credit reports. Knowing that your employee can backup the claims they made on the application can help you make more confident hiring decisions.

Companies Using AI

Using AI to enhance the hiring process isn’t just limited to the candidate side. You can also explore using LLMs and similar solutions to help make your work easier. Here are some ideas of how to use programs like ChatGPT when it’s time to hire a new employee:

• Write job descriptions. Describe your job to an LLM, and it will help you write a job description. However, know that an AI-generated job description is just a starting point. Make sure to customize it to your small business and include all the elements of a great job description.
• Write application and interview questions. Do you want to learn about a candidate’s work ethic or creativity Try asking ChatGPT for some suggested interview or application questions. Again, it’s essential to tailor these questions for your business and have a purpose for asking.
• Write candidate outreach. Job searches often involve a lot of back and forth communication. You can use LLMs to help draft canned responses and hiring updates you can send to candidates.
• Write social media and advertising messages. If you want to publicize your opening, ChatGPT and others can help you write announcements.

2. A Slow Trickle Back into Offices––But Not Everyday

The second hiring trend of 2024 is the slow return to offices. According to Fortune magazine, only 26% of households still have someone working from home, which is down 12% from the Pandemic-era.

CNBC further reports that 90% of companies plan to implement return-to-office policies by the end of 2024. The article states while there may not be solid data backing up decisions to head back to the office, there are emotional reasons. Many C-level executives and business owners believe returning to the office may foster more connection and retention.

Even so, the article also states that many experts believe the 5-day “in office” work is dying out. In its place, we should expect to see more hybrid models, which would help reap the benefits of both models.

How to Prepare Your Small Business

Whether you’re an all-remote team or all-on site, it’s important to consider what works best for your company and situation. Even if returning to the office is a wider trend, it might not make sense in your particular situation.

As you think about moving forward with remote work, here are some things to consider:

• Have good employee recognition programs in place, especially if you stay remote. Recognizing employees increases engagement and is one of the top ways to boost retention.
• Review team engagement and morale. Consider how in-person and remote work impacts your employees’ productivity and connection––and what changes would mean.
• Communicate changes well. Make sure people know about any changes with plenty of notice. If possible, include employees in decision-making process

Pro Tip: Are you the type of company where top candidates want to work Turnover is an expensive process that can tank your business. See how to reduce turnover and retain top talent.

3. Continued Trend of Salary Transparency

The third and final trend of 2024 is the continued trend of disclosing expected pay to job applicants ahead of time. In 2023, the list of states adopting salary transparency laws continued to grow. The latest, New York, joined the states requiring salary transparency on September 17, 2023, according to the New York Department of Labor.

Even if it’s not yet required in your state, you might want to look into the benefits of salary transparency laws for small businesses to help give you a leg up. As unemployment drops and the market for top talent becomes more competitive, employers may want to consider making themselves a more attractive place to apply––and some of that involves salary transparency.

According to Wired magazine, 75% of job seekers are more likely to apply to jobs that post the salary. Additionally, companies who post salaries get 30% more applications on average. Other benefits of posting salaries include:

• More trust from employees
• Boosts retention
• Can help narrow wage gap, in some cases

How to Prepare Your Small Business

Here are some ideas to help prepare your small business for this trend:

• Read up on the pros and cons of salary transparency and consider how posting expected pay on jobs might impact your hiring process.
• Research competitors and similar jobs to discover salary ranges. This can help you know how your pay stacks up in the market.
• Consider posting a salary range if you don’t have an exact number (where allowed). Posting a salary range can give you the flexibility of adjusting pay based on experience, while also giving job applicants a general sense of where your compensation fits in.

Pro Tip: Hiring transparency laws can also apply to internal hires. Learn the ins and outs of internal vs. external recruitment to help prepare for workplace place changes.

Gear Up for 2024 with Near-Instant Tenant Screening through ShareAble for Hires

In the ever-shifting landscape of small business trends, 2023 underscored the need for adaptability. To help navigate the rapid evolution of technological and other trends, it’s essential to thoroughly screen any potential workers with a well-established background check service, like ShareAble for Hires.

ChatGPT might be able to rewrite a cover letter, but it can’t rewrite history. Help discover if there are any potential dangers to know about. A criminal records check searches millions of federal and state-level arrest and conviction records, looking for a match for your job applicant. Meanwhile, identity verification helps you verify they’re really who they say they are.

In an era of dispersed and remote work, safeguarding your business is crucial. Explore an applicant’s financial track record with an employee credit report. Knowing more about their fiscal responsibility and money habits can help you decide who you want to trust with your company’s cash.

Tailored for small business owners, ShareAble for Hires provides on-demand, cost-effective screening. There are no subscriptions or hidden fees—just the reports you need, when you need them. Each FCRA-compliant report is backed by TransUnion, a major credit agency with nearly four decades of data expertise.

Embrace a fresh start in 2024 with ShareAble for Hires.