Post on 11-Apr-2017
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Rapid changes in the definition of “career”
Workers living longer and retiring later
All-inclusive global talent market where purpose at work matters
Exponential technology change leading to a
need for new skills
A truly connected world that is breaking down
work boundaries
Driving forces
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The multi-gen workforce
People used to join companies for life, but younger generations
have changed this.
The average baby boomer will be looking for a job 11.7 times in his or her career
11.7x
Millennials change jobs every two years or less
2 Years
TODAY
SHIFT 1
5
37%37% of LinkedIn
members are purpose-oriented
50% are more likely to be in
leadership roles
47% are more likely to be promoters of
their employers
50% 47%
Of those members…
64%64% are higher
performers
People are more thoughtful about workSHIFT 2
6
Today, the average member of the global workforce needs to update their skills every 5 years. The World Economic Forum
estimates that 65% of children entering primary schools today will likely work in roles that don’t currently exist.
5years
Technology continues to disrupt and change the jobs of tomorrow
SHIFT 3
65%
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People can now work from anywhere, learn on demand, and be exposed to new opportunities at every turn.
The World Economic Forum surveyed global HR decision-makers and 44% said new technologies enable remote working, co-working space, and teleconferencing as the principal driver of change.
Technology is connecting the workplace, changing the way we work
SHIFT 4
44%
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Organizational structure must adapt
Flatten the hierarchy
Make jobs more dynamic
Leverage contingent and contract labor
92%
of CHROs and CEOs say their structure
must change
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With human-automation collaboration, certain job functions will fluctuate
Declines in 6M roles in the next 4 years within:Office/admin functionsManufacturing and production roles
Steep increases in: Business and financial opsComputer and mathematical functions
The nature of work is shifting
Workers are demanding more flexibility around when, where, and how they work
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The volume of placements will increase
2003 04 05 06 07
of U.S. executives expect to use more contingent workers in the next 3–5 years
08 09 2010 11 12 13 14 15
10%
9
8
7
6
5
Outsourced temp workers as a % of direct-hire employees
42%
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The workforce is becoming more fluid
Companies are re-thinking how they structure
their workforce
Boundaries between full-time and contract work
are collapsing
“Contract worker” is getting harder to define. Close to 37% of people prefer alternatives
to a traditional job
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And the talent pool is adapting & evolving
232 million adults in the United States and the EU-15 are inactive, unemployed, or work less than full time
100 million would like to start working or increase their hours100M
232M
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LinkedIn’s pool of talent
World’s largest professional network
Two professionals join LinkedIn every second
Students and recent college graduates
467M 40M
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We launched Open Candidatesso you can focus on talent that is open to hearing from you
Filter candidates who are ready to make a move.
Boost response rates.
Close requisitions faster.
ON
increase in response rate
2X
3.5Mmembers participating
Open Candidates
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Search for candidates who may be open to contract work and more,
with the ”Employment Type” filter
Identify candidates likely to be interested in specific types of employment, including contract roles
We identify contractors in 2 ways:
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Self-reported through Open Candidates
Predictive algorithm based on LinkedIn profile data
To limit your view to self-reported contractors, use the “Employment Type” filter and the “Open to new opportunities
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Contractors on LinkedIn
Manager level or above
IT
Top 3 functions of current position
1
2
3
Operations
Engineering
36% 50%
VP level or above
23
Contractor market migration
who changed companies in the past 12 months
moved to a different industry
68%IT & Services
Top 3 industries of current position:
1
2
3
Higher education
Hospital & health care
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Where are these contractors right now?
High supply and lower demand
Dem
and
Inde
x
Supply (# professionals)
26
This pool of talent is actively looking around, not just open to new opportunities
have viewed a job on LinkedIn
in the past year
more likely to respond to a
recruiter InMail
2.3X94%
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K E Y T A K E A W A Y S
1 The world is changing, which presents new talent challenges
2 With the rise of the contract workforce, the unique issue of finding them is becoming a bigger pain point
3 We are working towards building new solutions and understanding this talent pool better
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“Digital platforms are transforming independent work,
building on the ubiquity of mobile devices, the enormous pools of
workers and customers they can reach, and the ability to harness
rich real-time information to make more efficient matches.”
— M C K I N S E Y G L O B A L I N S T I T U T E