If you want to know what is happening in the job market, LinkedIn is the preeminent go-to social media site. With around 500 million members, the site possesses a wealth of data to show trends related to hiring, and what jobs and sectors are hot. In a conversation with Jennifer Shappley, vice president of global talent acquisition at LinkedIn, she shared the most recent Global Talent Trends report.
Here are some takeaways from our conversation and the report.
The Workplace is changing amidst the Great Reshuffle
Remote and hybrid work are here to stay. People are switching jobs with velocity. Back in March 2020, only about every one in 67 paid jobs in the United States offered remote-work options. Fast forward to the end of 2021, the data shows a dramatic increase with one out of six jobs being remote. Job hunters clearly want work from home or from anywhere, as these types of jobs garner over 2 ½ times the share of job applications compared to traditional in-office opportunities.
Workers are changing jobs at an accelerated pace
As we’re moving away from the dark early days of furloughs and firings, at the end of 2021, the share of U.S. LinkedIn members changing jobs rose to nearly 40% compared to 2020, and over 32% compared to 2019. November 2021 saw the highest U.S. hiring levels on record since LinkedIn began recording this data in 2015.
People are boomeranging to their old companies
With a tight, competitive job market, companies are seeking fresh, new ways to attract and retain talent. One of the options recruiters pounced upon is bringing back former employees. The re-hiring of “boomerang” workers has increased on LinkedIn this year, with tens of thousands more people returning to old employers. This cohort accounts for nearly 5% of all new hires on Linkedin in 2021.
Key findings from the Global Talent Trends report
In a war-for-talent and Great Resignation time period, employees have the power. They’ve demonstrated that if they’re unhappy, they’ll quit and find a new job elsewhere. It’s easier now, as there are about 11 million jobs open. In an effort to attract, recruit and retain workers, businesses are offering employee-friendly benefits and choices.
Flexibility
Flexibility entails offering the person the autonomy to decide where, when and how they do their best work. LinkedIn data shows that when employees are satisfied with their company’s time and location flexibility, they are 2.6 times more likely to report being happy and 2.1 times more likely to recommend working at the company. There has been an 83% increase in job posts mentioning flexibility since 2019, as well as a 343% increase in mentions of flexibility. Job seekers look for this and other similar humanistic terms on job descriptions.
Well-Being
Workers will no longer be taken advantage of. They won’t put up with mean and vindictive bosses, low pay, cruel treatment or a toxic environment. Employers learned the hard way—when attrition hits alarming rates. They’ve recognized the importance of mental health and emotional well-being. The data indicates that if employees feel cared for at work, they are 3.2 times more likely to be happy at work and 3.7 times more likely to recommend their company as a place to work.
Well-being content is also resonating with job-seekers, especially women, as there has been a 146% increase in the share of job posts that mention “well-being” since 2019. Women were also 41% more likely to engage with “well-being” company posts, compared to the average post.
Mental health
Organizations are beginning to include mental health benefits in their packages. Gen-Z in particular are looking for companies to invest in these needs. Around 66% of Gen-Z say they’d like to see more investment in mental health and wellness to improve company culture, as opposed to 31% of Baby Boomers, for example.
Source: Forbes
