Recruiting Trends and Finnish Labour Market

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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 …

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.

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  • 1. GLOBAL TALENT TRENDS
  • 2. MIKE BOOKER MANAGING DIRECTOR, THE NETWORK INTRODUCTION
  • 3. 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 4 3 2 1
  • 4. LOCAL LEADERS, WORLDWIDE Founded 2002 52 Independent members 134 countries Market leaders in most countries Unrivalled coverage Centralised management & local support Local recruiting insight
  • 5. COVERAGE AND REACH 134 countries 276 Million CV’s 201 Million unique visitors 1,1 Billion visits per month
  • 6. OUR MEMBERS
  • 7. OUR CUSTOMERS
  • 8. I WOULD LIKE TO ASK YOU ALL SOME QUESTIONS... QUESTIONS
  • 9. QUESTIONS FOR YOU Whose company will hire more staff this year, in comparison to last year?
  • 10. 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?
  • 11. 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?
  • 12. 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?
  • 13. 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?
  • 14. THE OVERALL PICTURE GLOBAL TALENT TRENDS
  • 15. RECRUITING TRENDS UNEMPLOYMENT & 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
  • 16. RECRUITING TRENDS LACK 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.
  • 17. RECRUITING TRENDS MCKINSEY’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
  • 18. RECRUITING TRENDS PRACTICAL 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 Science vacancies than it does for vacancies in IT
  • 19. RECRUITING TRENDS PAY+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
  • 20. RECRUITING TRENDS COMPOUNDED 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
  • 21. RECRUITING TRENDS POPULATION PYRAMID
  • 22. RECRUITING TRENDS POPULATION PYRAMID
  • 23. RECRUITING TRENDS POPULATION PYRAMID
  • 24. RECRUITING TRENDS POPULATION PYRAMID
  • 25. RECRUITING TRENDS DECLINE OF NEWSPAPER CIRCULATION Reduced circulation = increased recruitment advertising rates
  • 26. RECRUITING TRENDS NEWSPAPER ADVERTISING SPEND COLLAPSES
  • 27. THE FINNISH LABOUR MARKET GLOBAL TALENT TRENDS
  • 28. RECRUITING TRENDS ECONOMY & 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
  • 29. RECRUITING TRENDS EMPLOYMENT & AGE DISTRIBUTION
  • 30. RECRUITING TRENDS UNEMPLOYMENT & 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
  • 31. RECRUITING TRENDS IMMIGRATION & 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 native language is foreign grew by 22,119.
  • 32. RECRUITING TRENDS SEA TURTLE EFFECT
  • 33. GLOBAL TALENT SURVEY WAVE III & IV GLOBAL TALENT TRENDS
  • 34. 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 questions Circa 7 minutes Freetext and pre-populated answers 2006 8 countries 2009 40 countries 2011 66 countries
  • 35. GLOBAL TALENT SURVEY INTERACTIVE DATA TOOL Origin / Destination Country Education Experience Occupation Industry
  • 36. GLOBAL TALENT SURVEY METHOD OF JOB SEARCH To 1) Job board 87% 2) Corporate website 55% 3) Search engine 43% 4) Personal network 43% 5) Recruitment 38% consultancy
  • 37. GLOBAL TALENT SURVEY DESTINATION EMPLOYER To 1) Google 2) M/soft 3) GE 4) ABB 5) Apple From 1) Nokia 2) Google 3) IBM 4) M/soft 5) HP
  • 38. GLOBAL TALENT SURVEY KEY FACTORS & MOTIVATING REASONS To From 1) Salary 1) Working atmosphere 2) Career opportunities 2) Salary 3) Working atmosphere 3) Challenge of the job 4) Terms of employment/benefits 4) Career opportunities 5) Challenge of the job 5) Permanent contract To From 1) Broaden experience 1) Broaden experience 2) Career opportunities 2) Challenge oneself 3) Challenge oneself 3) Get to know different cultures 4) Acquiring work experience 4) Career opportunities 5) Get to know different cultures 5) Acquiring work experience
  • 39. GLOBAL TALENT SURVEY DESTINATION CITY & COUNTRY To (Cities) 1) London 6) Sydney 1) London 6) Dubai 2) New York 7) Stockholm 2) New York 7) Toronto 3) Paris 8) Berlin 3) Singapore 8) Berlin 4) Helsinki 9) Toronto 4) Paris 9) Melbourne 5) Singapore 10) Copenhagen 5) Sydney 10) Los Angeles From (Countries) 1) London 6) Barcelona 1) USA 6) Switzerland 2) Stockholm 7) Paris 2) UK 7) Singapore 3) Berlin 8) Munich 3) Canada 8) France 4) New York 9) Sydney 4) Australia 9) Italy 5) Oslo 10) San Francisco 5) Germany 10) Sweden
  • 40. GLOBAL TALENT SURVEY WAVE 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)
  • 41. 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!
  • 42. ANY QUESTIONS? MIKE BOOKER MIKE.BOOKER@THE-NETWORK.COM PHONE +44 (0) 207 572 4226 WWW.THE-NETWORK.COM THANK YOU