Global Talent Trends
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Melissa Murray Bailey (President - Americas) and Kevin Troy (Head of Research & Insights - Americas) share insight into what talent around the globe wants from their employers - what's similar in various regions, what differences exist, and what this means for building a global employer brand.
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Global Talent Trends
- 1. Global Talent Trends A look at student career aspirations around the world Melissa Murray Bailey – President, Americas Kevin Troy – Head of Research & Insights, Americas 1
- 2. Universum surveys students in 55 countries around the world 2
- 3. 3 The data we’ll look at today comes from a number of sources: • Global economic indicators (UNESCO, World Bank, etc.) • Two annual surveys conducted by Universum • National talent surveys • Global Communicating with Talent survey • An ad hoc survey of Millennial attitudes conducted globally by Universum last summer
- 4. 4 Which of the following best describes your role? • National responsibilities (i.e. one country) • Multinational responsibilities (i.e. more than one country, not an entire region) • Regional responsibilities (i.e. Asia-Pacific or Americas) • Global responsibilities
- 5. 5 1. Global economic trends related to employee productivity 2. Employer and career preferences— the broad view 3. Going deeper into key employer preferences — what they mean to students and employers 4. How students communicate with employers across the globe
- 6. 6 Differences between education and technology make a real difference in worker productivity $- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 GDP per person employed, 20-year trend North America (CAGR: 1.6%) UK (CAGR: 1.5%) Euro area (CAGR: 1.0%) Europe & Central Asia (CAGR: 1.6%) Central Europe & Baltics (CAGR: 3.6%) Russia (CAGR: 2.1%) Latin America (CAGR: 1.3%) Mid East & N. Africa (CAGR: 0.8%) East Asia & Pacific (CAGR: 4.5%) South Asia (CAGR: 4.2%) Sub-Saharan Africa (CAGR: 1.9%)
- 7. 7 Participation in university-level education varies widely across the world 91 76 68 65 62 43 32 31 21 0 10 20 30 40 50 60 70 80 90 100 North America Russian Federation Euro area Central Europe and the Baltics United KingdomLatin America & Caribbean World East Asia & Pacific South Asia Tertiary education enrollment as percentage of university-age population (Number of university students for every 100 people aged 18 to 24) Source: UNESCO Americas Asia-Pacific EMEA
- 8. 8 The relative supply and demand for university graduates affects the value they place on themselves
- 9. 9 In most of the world, appealing to university graduates means appealing to women… 145 139 136 128 126 120 109 108 107 78 64 0 20 40 60 80 100 120 140 160 Number of women enrolled in university-level education for every 100 men enrolled Source: UNESCO Americas Asia-Pacific EMEA
- 10. 10 …however, in many regions, even university-educated women are unlikely to stay in the labor force for very long 64% 61% 54% 57% 57% 56% 50% 49% 31% 22% 77% 79% 80% 72% 69% 69% 64% 64% 81% 75% % 10% 20% 30% 40% 50% 60% 70% 80% 90% Sub-Saharan Africa East Asia & Pacific Latin America Russia North America United Kingdom Euro area Central Europe & Baltics South Asia Middle East & N. Africa Labor Force Participation by Region, 2013 Source: World Bank Female Total Male
- 11. 11 1. Global economic trends related to employee productivity 2. Employer and career preferences— the broad view 3. Going deeper into key employer preferences — what they mean to students and employers 4. How students communicate with employers across the globe
- 12. 12 Strivers and Climbers Across the globe, we find students’ attitudes toward work and careers fall into four main categories: Work-Life Balancers Technical Experts, Cautious About Fit Socially Ambitious, but Corporate Pessimists
- 13. 13 Strivers and Climbers • Seek traditional management- track careers • Attracted to “work hard, play hard” cultures • Greatest fear: getting stuck on the ladder • 33% of students globally • Majority of students in: Latin America • Also prominent in: Russia, Italy, Middle East
- 14. Work-Life Balancers • Unwilling to trade leisure time for career advancement • Believe the right job for them will align w/ their personality • 25% of students globally • Majority of students in: Northern Europe, German-speaking countries • Also prominent in: Western Europe, USA, Canada, Indonesia, Vietnam
- 15. 15 Technical Experts, Cautious About Fit • Highly attuned to company’s reputation • Most likely to be influenced by friends and family in career choices • See successful career as means to an end, not an end in itself • Concerned about being discriminated against on basis of gender or ethnicity • 24% of students globally • Majority of students in: India, Nigeria • Also prominent in: Middle East, Indonesia, China
- 16. Socially Ambitious, but Corporate Pessimists • Not necessarily interested in becoming a manager • Greatest fear: not being taken seriously by their organization • Don’t believe they will achieve the same standard of living as their parents • 18% of students globally • Majority of students in: Japan • Also prominent in: Australia, Hong Kong, Thailand, Argentina, Ireland, Poland, Russia
- 17. 17 Strivers and Climbers Work-Life Balancers Technical Experts, Cautious About Fit Socially Ambitious, but Corporate Pessimists
- 18. 18 Which of the career profiles we just described would your organization appeal to the most? • Strivers and Climbers • Work-Life Balancers • Technical Experts, Cautious About Fit • Socially Ambitious, But Corporate Pessimists
- 19. 19 How we think about employer value propositions CREDIBLE TRUE Your internal identity Your external image What talent wants ATTRACTIVE
- 20. 20 Universum uses a 40-attribute framework to assess students’ preferences and their associations with individual employers EMPLOYER REPUTATION & IMAGE JOB CHARACTERISTICS PEOPLE & CULTURE The attributes of the employer as an organization • Attractive/exciting products and services • Corporate Social Responsibility • Environmental sustainability • Ethical standards • Fast-growing/entrepreneurial • Financial strength • Innovation • Inspiring management • Market success • Prestige The social environment and attributes of the workplace • A creative and dynamic work environment • A friendly work environment • Acceptance towards minorities • Enabling me to integrate personal interests in my schedule • Interaction with international clients and colleagues • Leaders who will support my development • Recognizing performance (meritocracy) • Recruiting only the best talent • Respect for its people • Support for gender equality The contents and demands of the job, including the learning opportunities provided by the job • Challenging work • Client interaction • Control over my number of working hours • Flexible working conditions • High level of responsibility • Opportunities for international travel/relocation • Professional training and development • Secure employment • Team-oriented work • Variety of assignments REMUNERATION & ADVANCEMENT OPPORTUNITIES EXTRINSIC INTRINSIC HARDSOFT The monetary compensation and other benefits, now and in the future • Clear path for advancement • Competitive base salary • Competitive benefits • Good reference for future career • High future earnings • Leadership opportunities • Overtime pay/compensation • Performance-related bonus • Rapid promotion • Sponsorship of future education universumglobal.com
- 21. 21 Students in wealthier countries tend to be less focused on remuneration & advancement
- 22. 22 0% 10% 20% 30% 40% 50% 60% High future earnings A creative and dynamic work environment Professional training and development Leaders who will support my development Good reference for future career A friendly work environment Leadership opportunities Secure employment Clear path for advancement Recognising performance (meritocracy) Most important attributes for business students G12 markets, GDP-weighted average While business students are most focused on their advancement and development, they’re also keenly interested in the work environment Job Characteristics Employer Reputation & Image Remuneration & Advancement People & Culture
- 23. 23 Globally, engineers value a creative and dynamic work environment most highly 0% 10% 20% 30% 40% 50% 60% A creative and dynamic work environment Innovation High future earnings Professional training and development Secure employment A friendly work environment Challenging work Good reference for future career Leaders who will support my development Leadership opportunities Job Characteristics Employer Reputation & Image Remuneration & Advancement People & Culture
- 24. 24 The organizations that can best attract top talent are those with learning and development “baked in” to their cultures Color-coding indicates where each attribute is among the top 10 of the 40 attributes for: Professional training & development Leaders who support my development Leadership opportunities Opportunities for intl. travel/ relocation Sponsorship of future education Australia Brazil Canada China France Germany India Italy Japan Russia UK US Business Engineering Both Sponsorship of education wasn’t a top preference in any of the G12 markets, and was in the bottom 10 in many of them..
- 25. 25 When it comes to your organization’s messaging around the globe, which of the following best applies? • We have a global EVP that we implement consistently in each local market • Each market has its own unique EVP, to allow for local differences • We have a global EVP but work with each market to localize the messaging • We haven’t formally developed an EVP yet • Other (please specify in the comments)
- 26. One Global EVP, or Many Local EVPs? 26universumglobal.com Strong, clear and consistent profile Select and define attributes that make up the core of the Employer Brand, and can be communicated as the global EVP. Tweak the actual communications and messages (the examples, stories and reasons to believe in the organization, for example) for the target groups. Universum strongly recommends that employers develop one EVP to be used on a global level for all target groups and business units. However, market needs and internal differences between entities often require adjustments of the proposition. The Global EVP Tailored Messages USA Japan etc. Engineering Talent Business Talent
- 27. 27 Across markets, students sometimes agree on what’s important… The tight, linear relationship indicates that Australian and Canadian students have similar preferences
- 28. 28 …but sometimes you really need to customize the employer brand for a foreign market The much looser relationship indicates that Australian and Japanese students largely disagree on what’s important
- 29. 29 1. Global economic trends related to employee productivity 2. Employer and career preferences— the broad view 3. Going deeper into key employer preferences — what they mean to students and employers 4. How students communicate with employers across the globe
- 30. 30 How often do new graduates hired by your company relocate to a position in another country within four years? • Never • Rarely • Sometimes • Often • Always/ this is mandatory in our organization
- 31. 31 Very few companies are strongly associated with a “creative and dynamic work environment”
- 32. 32 If you convince students that you’re innovative, will they think your work environment is creative? Association w/ “a creative and dynamic work environment” vs. “reputation for innovation,” World’s Most Attractive Employers for engineering students, G12 markets average
- 33. 33 0% 10% 20% 30% 40% 50% 60% Turkey Egypt Kazakhstan Colombia Argentina Mexico Chile Algeria France Australia Peru Greece Spain Ireland Brazil CostaRica UK Malaysia Lebanon HongKong Pakistan Thailand Indonesia Kuwait Switzerland SaudiArabia India Italy Morocco Panama Ukraine Canada Luxembourg CzechRepublic Belgium Portugal SouthAfrica Singapore Russia UAE Denmark Sweden Netherlands Austria Ghana Qatar Poland Norway Finland Germany USA Nigeria Vietnam Kenya China Japan Percentage of students selecting “opportunities for international travel and/or relocation” as important to them, 2015 MNCs recruiting in many developing markets must contend with students seeing them as a way out Americas Asia-Pacific EMEA
- 34. 34 It’s better to be clear about what you really offer in terms of “internationality” than to give recruits a false impression Strongest • Regularly recruit students from foreign countries to come work in office X • Send recent hires on temporary reassignments to foreign locations for 1 to 6 months Strong • Recent hires may occasionally travel abroad for conferences, brief site visits, etc. • Strong chance of foreign posting 4 to 8 years into career Still Viable • High level of interaction with foreign colleagues • Prestigious, well-known MNC that will look good on US or European grad school applications and/or on resume when applying to other companies
- 35. 35 Millennials define work-life balance primarily in terms of leisure time 0% 10% 20% 30% 40% 50% 60% 70% 80% Global average Africa Asia-Pacific Eastern Europe Latin America Middle East Northern America Western Europe Top 6 Most Common Responses to the Question “What Does Work-Life Balance Mean to You?” Universum Millenials Survey, summer 2014 Enough leisure time for private life Flexible working hours (e.g. not limited to office hours) Recognition and respect for employees Flexible working conditions (e.g. home office) Convenient work location No interruption of leisure time (e.g. during holidays or weekends)
- 36. 36 1. Global economic trends related to employee productivity 2. Employer and career preferences— the broad view 3. Going deeper into key employer preferences — what they mean to students and employers 4. How students communicate with employers across the globe
- 37. 37 More than half of students are using social media to interact with employers in almost every market we survey Americas Asia-Pacific EMEA 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Kuwait Canada CostaRica Australia UAE Netherlands Panama Indonesia Ireland Pakistan Greece Malaysia Brazil India Chile SaudiArabia Thailand Argentina Turkey Peru Finland Portugal Egypt Colombia HongKong Denmark Norway Sweden Qatar Belgium UK Morocco Spain Kenya Nigeria Austria USA Mexico Vietnam Singapore Lebanon Germany Poland Algeria Ghana Italy CzechRep. Kazakhstan Russia Ukraine Switzerland France China Japan Percentage of Business Students Using Social Media to Interact with Employers, 2015
- 38. 38 In many developing markets, however, social media connections with employers aren’t made through “professional” channels 0% 20% 40% 60% 80% 100% Vietnam Egypt Peru CzechRep. Brazil Poland Qatar Thailand Malaysia CostaRica Colombia Mexico Chile Ukraine India Panama Argentina Indonesia Kuwait Lebanon Australia Turkey UAE Kazakhstan Denmark HongKong Singapore Austria Italy Netherlands Finland SaudiArabia Belgium Norway Sweden Ireland Germany Japan Spain UK USA France Russia Switzerland Percentage of Students Using Facebook for Career Purposes Source: Universum Communicating with Talent Survey 2015 Americas Asia-Pacific EMEA
- 39. 39 The extent to which you need to localize your EVP will depend on the market for which you’re customizing: • Economic factors • Social / cultural factors In general, students are looking for employers that will: • Train them and develop them • Foster creativity and take their contributions seriously • Offer work-life balance The communication channels you use to convey your employer value proposition need to “fit” the market you’re in Final thoughts
- 40. Interested in learning more about emerging markets? A few resources for you: • Download the Talent in Emerging Markets ebook (available at universumglobal.com) • Register for the upcoming Emerging Markets webinar series, September 2015 • Tell us which markets you’re most interested in hearing more about 40
- 41. Please share your feedback! 41
- 42. CONTACT Kevin Troy Research Director, Americas Kevin.Troy@universumglobal.com Melissa Murray Bailey President, Americas Melissa.bailey@universumglobal.com
Editor's Notes
- We’ll be focusing on data relating to undergraduate business and engineering/IT students
- Productivity, on a national scale, boils down to the infrastructure in place (IT, transportation, etc.), the regulatory environment, and the knowledge, skills, and abilities of the people. Countries where these are highly developed have higher levels; countries where these are improving rapidly grow faster. Global average is about $19,000 GDP per person employed, and 2.3% annual growth over the last 20 years – so, about the same as Russia.
- Note that these data are not actual starting salaries, but rather student expectations of what they will earn upon graduation. The infrastructure and talent around an engineer in a highly-developed country allow them to much more productive -- but they expected to be much more compensated as well.
- Picture is almost exactly the same for business respondents
- Globally, “a creative and dynamic work environment” was the #1 most appealing of the forty attributes for engineers. (On a market-by-market level, it was among the most important attributes in almost every country, except Russia, Ukraine, Finland, and Australia.)
- The importance score for each attribute is percentage of respondents who chose it as one of the three most important within its category, weighted by the overall importance assigned to the category. At a high level, it would probably be safe to enter the Canadian market with an employer brand that’s been customized to appeal to Australian students (or vice-versa). Obviously you’d have to do some localization, but the strategic messaging – for example “we’re an employer that develops leaders” or “we bring out the best in our people – could be the same.
- By contrast, entering the Japanese market with an employer brand developed for Australia (or vice-versa) would probably fall flat. Students have very different priorities, and take different things for granted.
- In most industries that make technology-based products – automotive, CPG, heavy industry – firms are lucky if they can convince two-thirds of the students interested in them that their workplaces are creative and dynamic. Service industries, such as banking, have an even harder time.
- There is a pretty strong relationship between students’ associations with creative environments (vertical axis) and a company’s reputation for innovation (horizontal axis). But there are lots of consulting and CPG firms in the upper-left hand area that are seen as creative environments, but not really as innovative companies. And there are some firms, like the cluster of competitors just below GE, that are seen as highly innovative, but not seen as offering very creative environments.
- The trick