LinkedIn reveals four trends reshaping how companies hire and retain talent in 2020
Survey of thousands of hiring professionals in 35 countries highlights trends impacting recruiting and HR, and how to get ahead of them.
Today, LinkedIn released our 10th annual Global Talent Trends report. The headline? Empathy is the superpower that will help companies find the most value amid changing expectations from employees in an increasingly tight labor market.
By looking at survey results from over 7,000 talent professionals around the world, behavioral insights on how people use LinkedIn, and conversations with some of the biggest brands, we were able to shed light on four trends that reflect the changing world of work:
Employee Experience: Companies are starting to work for employees and prioritize their needs - not the other way around.
Nearly all (96%) HR/TA leaders say creating a great experience for their employees is becoming more and more important, not only for retention but for their bottom line. Now, walking a mile in an employee’s shoes means moving beyond feedback to active listening, collaboration and change.
This shift in focus is reflected on the platform too: there has been a 2.4X increase in LinkedIn members whose job titles include "employee experience" since 2014.
Despite this progress, with only 52% of HR/TA leaders saying their company provides a positive experience, there’s a good amount of work left to be done when it comes to designing great employee experiences.
People Analytics: Data is now accessible to all, and understanding and capitalizing on analytics is quickly becoming a must-have skill in HR.
Three fourths (73%) of talent leaders say embracing people analytics will be a major priority for their company over the next 5 years. Data can tell a story and while its power was previously accessible to only the largest companies, it has recently become more democratized, understandable and available.
Our platform’s data supports this: we’ve seen a 242% increase in HR pros with data analysis skills during the past 5 years.
Internal Recruiting: Talent professionals are rediscovering a key talent pool.
When it comes to internal hiring, our research found a +10% increase in internal hiring since 2015 and three-fourths (73%) of talent leaders say internal recruiting is increasingly important to their company.
Better retention may be why: employees at companies with high internal hiring stay 41% longer compared to those with low internal hiring.
Multigenerational Workforce - Later retirements and the arrival of Gen Z prompts companies to embrace age diversity in the workforce.
An overwhelming number of talent pros (89%) say a multigenerational workforce makes a company more successful, and 56% have recently updated policies to appeal to all ages.
When it comes to differences across generations, we found subtle differences in what motivates employees, makes them leave, and retention trends. For example, Baby Boomers tend to stay 18% longer than the average employee (almost 2x longer than Millennials).
Tapping into these four trends will not only help attract in-demand talent, but keep great talent amid increasing expectations of what employers owe to their people. In the 2020s, operationalizing empathy will help you succeed. Read more about the findings here.
Methodology: We surveyed more than 7,000 talent professionals in 35 countries, looked at LinkedIn behavioral data generated from the billions of data points created by more than 660 million members in over 200 countries, and conducted interviews with experts to create our annual Global Talent Trends report for 2020, which looks at four trends that reflect the increasing expectations of what employers owe to their people, and provides data-driven recommendations on how to act on these trends.
Download the full report here.