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The world of work is changing fast — from macroeconomic developments to startling advances in artificial intelligence to accelerating skill changes. And if you’re not keeping up, you risk falling behind. As LinkedIn’s CEO Ryan Roslansky recently said in his Talent Connect keynote, “The old playbooks won’t work in this new world of work.”

It’s easy to feel adrift amid the swirl of changes, which is why it’s helpful to take a step back and look at the bigger picture. That’s the idea behind LinkedIn’s semiannual Global Talent Trends report, the newest edition of which debuted at Talent Connect last month. 

Read on for a closer look at three of the most significant stats in the latest report — and what they mean for recruiters in today’s new world of work. 

1. Job seeker activity rose, even as hiring rates fell

No matter where in the world you’re based, as a recruiting professional you already know that hiring has been down over the past year. The newest Global Talent Trends report shows declining hiring rates across over a dozen countries, ranging from a 5% drop in Indonesia to 28% plunge in Sweden and Singapore, with most countries falling by 15% to 25%. 

What you may not have realized is that there’s also been a corresponding increase in job seeking behavior: Candidates are applying to more jobs this year than they did in the previous year.

That makes some sense intuitively: With fewer opportunities available, candidates are casting a wider net. 

For recruiters, that means you can expect larger applicant pools and you may come across more applicants coming off the beaten track. It’s critical to remember that even if candidates don’t have the perfect pedigree or experience, they may still have the skills your company needs. 

Broadly speaking, lower hiring rates may mean less competition. But if you’re trying to fill one of the most in-demand roles, you’re still operating in a highly competitive labor market and your expectations and offers should reflect that.  

2. Job listings that mention AI see greater application growth 

Artificial intelligence seems to be everywhere these days, and job listings are no exception. It’s no surprise that employers are increasingly looking for AI skills — but LinkedIn data reveals that candidates are also increasingly interested in AI opportunities.

“As for the popularity of job posts mentioning AI, candidates are savvy,” says Erin Scruggs, vice president of global talent acquisition at LinkedIn. “They’re showing they want to go where opportunities are.” 

That means if your company has any plans involving AI, it doesn’t hurt to include that in the job description or highlight it in interviews with candidates. “I would consider it a requirement,” Erin says, “for most companies to share at least a basic roadmap of their AI strategy in job posts to keep up with the market.”

3. Companies that encourage skill development see more internal mobility 

For some roles and some companies, there simply may not be enough skilled candidates to fill open positions — or those candidates may command a salary the company can’t yet afford.

In those cases, savvy employers may shift to a model of “building” rather than “buying” skilled talent. The idea is that you can upskill existing talent and move them into the hard-to-fill roles — and that’s what we see in the data.

Companies that were better at developing skills internally also saw higher internal mobility rates — suggesting that employers are making the “build” model work. 

Despite that, many companies are still struggling to get internal mobility right, with only 15% of employees saying their employer encouraged them to make an internal move, according to the 2023 Workplace Learning Report. 

That may be due to confusion about who “owns” the internal mobility process: Should it be driven by talent acquisition, learning and development, HR, or individual employees? Companies that find themselves in this position should focus on concrete tactics detailed here — like starting small with achievable goals, earning buy-in from managers who might otherwise “hoard” talent, establishing an internal jobs marketplace, and encouraging a more explicit partnership between TA and L&D teams. 

Final thoughts

The latest edition of the Global Talent Trends report reflects a transitional moment in the world of work: from falling hiring rates and increased applications to excitement around artificial intelligence to evolving models of talent acquisition. 

While your company may only be experiencing some of the phenomena discussed above, it’s critical for any talent professional to keep an eye on these key trends shaping the industry. Check out the newest Global Talent Trends report here for more insights, the full methodology, and relevant quotes from talent leaders on what it all means for you.

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