LinkedIn Talent Solutions flat-out gets me! They recently released their 2023 Global Talent Trends report, and you all know I’m a nerd for talent data, and this report is always impressive. I encourage you to download and check out this report (2023 LinkedIn Global Talent Trends report).
Here are my takeaways:
- Hiring is slowing down from its historic pace over the past few years.
While slowing, it doesn’t necessarily mean it’s equal across all industries and segments. Tech hiring has taken a huge hit, but hospitality, healthcare, and education remain challenging.
- Internal mobility is taking a foothold in the consciousness of workers. We’ve always known that changing companies and jobs is very stressful. One of the most stressful things you’ll go through in your lifetime. So, finding ways to keep your workers by allowing them to move within the company is an excellent way to increase retention and job satisfaction. Interestingly enough, LinkedIn Talent Solutions found in this most recent report that older generations are actually finding more success with internal mobility than their younger counterparts, generationally. GenX experiencing the highest internal mobility rate of all the generations. Most likely, this is because the more experience you have and the deeper your professional network, the more desired you’ll be by other functions and departments within your own company.
- We can finally erase the decades-old quote, “People don’t leave jobs. They leave managers”! I’ve always thought that quote was B.S., but people would show “academic” research to prove it. Well, now I can prove it’s wrong with this research!
SHOW. ME. THE. MONEY!
LinkedIn actually measured 15 priorities that employees value. Where did “Management” and “Leadership” fall in those 15? 9 and 11, respectively!
Also, another huge takeaway we’ve been trying to sell as thought leadership for the last two decades is great talent wants to work with other great talent. Actually, “Talent” as a priority, meaning, it’s important to you and your career that you work with other highly talented people, actually came in at 15 out of 15! We don’t care about that at all, in comparison.
“Security” will continue to raise up the chart as the economy slows and finding and keeping a job gets harder. It’s currently seventh on the list, but it was much higher in industries like Tech, which has been hit hard by job losses.
The report is jammed packed with amazing data and insights. Go check out the full 2023 LinkedIn Global Talent Trends report.