Outsourcing is dying, while “product” is hiring: 10 hiring trends to prepare for 2024 — F1V

Flyer One Ventures, a Kyiv-based early-stage VC firm, has gathered 10 hiring trends its talent team, consisting of Anastasiia Kuzmenko, Anhelina Stepanets, Aleksandra Lozovytskaya, and Viktoriia Ivanova, observed in the United States, Ukraine, and LATAM countries.

AIN.Capital shares the list.

10 hiring trends to prepare for in 2024

  1. Providing a great recruiting experience for candidates was a trend in 2023, and it will continue in 2024. According to a survey conducted by the F1V talent acquisition team, candidates’ interactions with both recruiters and hiring managers directly impact their decision to accept a job offer.
  2. Compared to previous years, candidates are now more willing to complete test tasks, considering them as a way to demonstrate their expertise.
  3. Despite the job market being shaken by massive layoffs in the first half of 2023, acquiring strong senior or C-level executives is still hard. Finding the perfect fit for early-stage startups also remains challenging, increasing the time recruiters spend to fill the vacancies.
  4. Hiring people from around the world is becoming more popular. Companies that only hire in one location might miss out on talented individuals compared to those with offices in different countries.
  5. In the U.S., candidates tend to drop out if there are more than 3 interview steps. Ukrainian applicants usually persist through 5-6 hiring stages. Also, Ukrainians are eager to take on more responsibilities, being high-performing and more flexible in fast-paced environments.
  6. While the LATAM market is booming and salaries are slightly rising, finding candidates who speak English fluently remains a challenge.
  7. Comparing markets in the U.S., LATAM and Ukraine, candidates in the U.S. tend to prepare for interviews better by researching the company and its tech stack. Job seekers in the U.S. and LATAM generally showcase better soft skills than Ukrainians. But Ukrainian candidates have a stronger product and technical background.
  8. Despite global downsizing in 2023, there is an uptick in profit-generating positions. This trend is particularly noticeable in areas such as sales and marketing, where higher salary ranges are becoming more prevalent.
  9. Outsourcing is dying, while “product” is hiring. Currently, many companies are seeking specialists with expertise in product development.
  10. Remote and flexible work options remain some of the most desirable perks for potential employees.