recruiting trends and finnish labour market
DESCRIPTION
A presentation of Mike Booker, Managing Director of The Network held at Esimies & Henkilöstö 2014 event 8th of May. Presentation includes statics and information about global talent trends, recruiting trends, global recruiting, finnish labour market, global talent survey and methods of job search.TRANSCRIPT
GLOBAL TALENT TRENDS
MIKE BOOKERMANAGING DIRECTOR, THE NETWORK
INTRODUCTION
Global Talent Trends
Labour market compound issues
Some observations of the Finnish labour market
Global Talent Survey wave III & IV
Future recruiting considerations
Question and answers
Introduce our organisation and context
of the presentation
AGENDA
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LOCAL LEADERS, WORLDWIDE
Founded 2002
52 Independent members
134 countries
Market leaders in most countries
Unrivalled coverage
Centralised management & local support
Local recruiting insight
COVERAGE AND REACH
134 countries
276 Million CV’s
201 Million unique visitors
1,1 Billion visits per month
OUR MEMBERS
OUR CUSTOMERS
I WOULD LIKE TO ASK YOU ALL SOME QUESTIONS...
QUESTIONS
QUESTIONS FOR YOU
Whose company will hire more staff this year, in comparison to last year?
QUESTIONS FOR YOU
Who expects to increase external hiring, rather than internal mobility?
Whose company will hire more staff this year, in comparison to last year?
QUESTIONS FOR YOU
Who has found that specialist skills are in greater demand in recent years?
Who expects to increase external hiring, rather than internal mobility?
Whose company will hire more staff this year, in comparison to last year?
QUESTIONS FOR YOU
Who works for a multinational company that centralised its recruiting function?
Who has found that specialist skills are in greater demand in recent years?
Who expects to increase external hiring, rather than internal mobility?
Whose company will hire more staff this year, in comparison to last year?
QUESTIONS FOR YOU
Who has already hired staff internationally when there was a shortage of talent in Finland?
Who works for a multinational company that centralised its recruiting function?
Who has found that specialist skills are in greater demand in recent years?
Who expects to increase external hiring, rather than internal mobility?
Whose company will hire more staff this year, in comparison to last year?
THE OVERALL PICTURE
GLOBAL TALENT TRENDS
RECRUITING TRENDSUNEMPLOYMENT & SKILLS SHORTAGE SINCE 2008/9
Since the 2008/9 financial & economic crisis unemployment has risen
Over 20% unemployment in Spain and Greece
US unemployment has doubled
Asia-Pacific is just dropping to pre-crisis levels
Yet today, many industries suffer serious skill shortages, whilst others have vacancies they are unable to fill
Global Employment Survey 2013
RECRUITING TRENDSLACK OF AVAILABLE TALENT
1/3rd of employers find it difficult to hire due to a shortage of talent
Rising skill level is required due to the evolving global economy
Failure of education systems to provide talent for changing recruiter needs
i.e. not enough students graduate with the vocational skills required.
RECRUITING TRENDSMCKINSEY’S « WAR FOR TALENT »
McKinsey consultant Steven Hankin created the phrase
“War for talent”
in 1997…
The study was developed to explain the intensity of competition in attracting and retaining talent
Harvard Press’s subsequent publication emphasized the importance of talent and its relation to the success of an organisation
RECRUITING TRENDSPRACTICAL ISSUES AROUND THE WORLD
1/3rd of the Chinese workforce will retire within the next 20 years
71% of Brazilian employers cite skills shortages, the highest in the world
There are over 1 Million vacancies for Government jobs in India, also it’s well known IT industry is struggling to find enough new talent
In Australia it takes twice as long to fill Engineering, or Sciencevacancies than it does for vacancies in IT
RECRUITING TRENDSPAY+BENEFITS VS. COST OF LIVING VARIES SIGNIFICANTLY
City Consumer Price Index Rent Index Groceries Index Restaurant Price Index
Bern, Switzerland 142.52 57.7 145.8 138.43
Oslo, Norway 141.22 62.51 131.7 166.52
Paris, France 120.68 66.9 122.73 107.5
Copenhagen, Denmark 117.24 54.46 106.98 138.41
Stockholm, Sweden 113.94 47.79 105.09 114.35
London, United Kingdom 113.27 88.04 97.58 106.89
Dublin, Ireland 111.45 48.36 105.84 109.57
Luxembourg, Luxembourg 108.88 66.64 94.1 124.9
Helsinki, Finland 106.92 49.79 107.7 107.64
Brussels, Belgium 103.82 42.4 97.01 113.87
Turku, Finland 103.8 28.77 98.5 99.01
Oulu, Finland 103.33 27.88 93.98 99.66
Gothenburg, Sweden 102.43 32.4 100.33 101.55
Amsterdam, Netherlands 99.98 50.52 81.4 115.72
Bonn, Germany 90.19 31.14 83.75 80.14
Vienna, Austria 90.16 36.22 90.45 79.49
RECRUITING TRENDSCOMPOUNDED BY AN AGEING GLOBAL WORKFORCE
World population will rise from 6.9 Bn. to 7.6 Bn. by 2020
Yet the working age population will decline in many countries
Japan already has more workers exiting the workforce,compared to those entering it each month
Younger / emerging countries are likely to profit from this trend
1/3rd of India’s population is under 15 years of age, Indonesia, Brazil and Mexico are all likely to benefit from a surge in productivity and growth
RECRUITING TRENDSPOPULATION PYRAMID
RECRUITING TRENDSPOPULATION PYRAMID
RECRUITING TRENDSPOPULATION PYRAMID
RECRUITING TRENDSPOPULATION PYRAMID
RECRUITING TRENDSDECLINE OF NEWSPAPER CIRCULATION
Reduced circulation = increased recruitment advertising rates
THE FINNISH LABOUR MARKET
GLOBAL TALENT TRENDS
RECRUITING TRENDSECONOMY & POPULATION
Finland has the 4th largest “knowledge economy” in Europe (OECD)
Highly integrated to the Global economy with 1/3rd of GDP Intl. trade
Key trade flows; Germany, Russia, Sweden, UK, US, Netherlands & China
Only Nordic country to enter the Eurozone
GDP growth rate -1,4%
Population 5,45 M
RECRUITING TRENDSEMPLOYMENT & AGE DISTRIBUTION
RECRUITING TRENDSUNEMPLOYMENT & SKILLS SHORTAGE
Working population 3,5 M
Unemployment rate 9,1%
Unemployed jobseekers in 315,700 in March (+28,700 year on year)
New vacancies registered totalled 47,700 in March (-2,200 year on year)
Number of unfilled vacancies 107,600 in March (-200 year on year)
Largest notable companies; Nokia, Stora Enso, Neste Oil, UPM, Aker Finnyards, Rovio and Kone
Largest foreign HQ’d employers in Finland;ABB, Tellabs, Carlsberg and Siemens
Employment bulletin March 2013
RECRUITING TRENDSIMMIGRATION & MIGRATION
Immigration to FI 31,940 in 2013(+660) / 50% from EU
Emigration from FI 13,890 in 2013(Slight increase)
Net migration 18,050 (+620)
Foreign-language speakers account for 90% of the population growth in 2013.
The number of people whose nativelanguage is foreign grew by 22,119.
RECRUITING TRENDSSEA TURTLE EFFECT
GLOBAL TALENT SURVEY WAVE III & IV
GLOBAL TALENT TRENDS
GLOBAL TALENT SURVEY THE BACKGROUND
The GTS large-scale global research into the motivations and behaviours of jobseekers towards international mobility
21,000 jobseekers 66,000 jobseekers 162,495 jobseekers
36 online questionsCirca 7 minutesFreetext and pre-populated answers
20
06 8
countries 20
09 40
countries 20
11 66
countries
GLOBAL TALENT SURVEYINTERACTIVE DATA TOOL
Origin /Destination
Country
Education
Experience
Occupation
Industry
GLOBAL TALENT SURVEYMETHOD OF JOB SEARCH
To
1) Job board 87%2) Corporate website 55%3) Search engine 43%4) Personal network 43%5) Recruitment 38%
consultancy
GLOBAL TALENT SURVEYDESTINATION EMPLOYER
To
1) Google2) M/soft3) GE4) ABB5) Apple
From
1) Nokia2) Google3) IBM4) M/soft5) HP
GLOBAL TALENT SURVEYKEY FACTORS & MOTIVATING REASONS
To From
1) Salary 1) Working atmosphere2) Career opportunities 2) Salary3) Working atmosphere 3) Challenge of the job4) Terms of employment/benefits 4) Career opportunities5) Challenge of the job 5) Permanent contract
To From
1) Broaden experience 1) Broaden experience2) Career opportunities 2) Challenge oneself3) Challenge oneself 3) Get to know different cultures4) Acquiring work experience 4) Career opportunities5) Get to know different cultures 5) Acquiring work experience
GLOBAL TALENT SURVEYDESTINATION CITY & COUNTRY
To (Cities)
1) London 6) Sydney 1) London 6) Dubai2) New York 7) Stockholm 2) New York 7) Toronto3) Paris 8) Berlin 3) Singapore 8) Berlin4) Helsinki 9) Toronto 4) Paris 9) Melbourne5) Singapore 10) Copenhagen 5) Sydney 10) Los Angeles
From (Countries)
1) London 6) Barcelona 1) USA 6) Switzerland2) Stockholm 7) Paris 2) UK 7) Singapore3) Berlin 8) Munich 3) Canada 8) France4) New York 9) Sydney 4) Australia 9) Italy5) Oslo 10) San Francisco 5) Germany 10) Sweden
GLOBAL TALENT SURVEYWAVE IV
New partnership with Boston Consulting Group (World leading strategy advisors)
Data tool, white paper, reports & country profiles
More focus on willingness, language capabilities & permission to work abroad
Ability to export and save data
Launches in September 2014, (Uranus will launch the survey results in Finland)
IN CONCLUSION
The world’s workforce is becoming more transient
Amazon’s “pay to quit” approach
The online recruitment marketplace continues to grow with pace,Job boards are ideal to connect recruiters with active jobseekers
Globalisation of companies and their supply chain, continue to fuel talent scarcity worldwide
International mobility is becoming crucial for some sectors in a growing number of countries Worldwide
Register for the Global Talent Survey 2014 in September!
