Transcript of "Financial Services: Engaging Active and Passive Jobseekers in Europe and Asia"
kelly Global workforce index™
2Kelly Global Workforce Index™
3 Confronting employee
6 Connecting employees
8 Opening the door
to new talent
12 Social media and
15 Online job boards
lead the way
17 The employee preference
in online job boards
19 Conclusion: Casting
a wider net
The Kelly Global Workforce Index
(KGWI) is an annual global survey
revealing opinions about work and the
workplace. Almost 230,000 people
across the Americas, EMEA and APAC
regions responded to the 2014 survey.
The topics covered in the 2014
KGWI survey include:
• Engaging active and
passive job seekers
• Career development
• The candidate experience
from hiring to onboarding
• Worker preferences and
A total of 31 countries participated in the
survey, utilizing 20 different languages.
Results span workplace generations, as
well as key industries and occupations.
This first installment, on the topic,
Engaging Active and Passive Job
Seekers, examines the nature of the
contemporary job search process from
a candidate’s perspective across the
Financial Services & Insurance sector.
It looks at the state of employee
engagement among a group of workers
who have been at the forefront of recent
economic and financial upheaval.
It also examines the way that employees
are conversing about jobs and work
and the role that online and social
media play in these discussions.
With these conversations taking place,
the survey looks at some of the ways
that ‘hidden’ job seekers can be
identified and, perhaps, encouraged
to become prospective candidates.
The Kelly Global
Workforce Index 2014
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Employees across the Financial Services & Insurance sectors have
seen a lot of career instability, dislocation and downsizing since
the onset of the global financial crisis in 2008. While conditions
have improved markedly since then, there still remains a degree of
fallout, reflected in the level of employee commitment to work.
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Globally, less than a third
(30%) of those in Financial
Services & Insurance say they are
‘totally committed’ to their current
employers. This has implications for
workplace morale and productivity.
In the APAC region, this level
of engagement (30%) is slightly
higher than in EMEA (24%).
Looking across countries in EMEA
and APAC, the highest levels of
engagement are in India and Norway
(both 44%), Indonesia (39%) and Russia
(35%), while the lowest are in Italy
(3%), Hungary (8%) and UK (15%).
How ‘committed’ or ‘engaged’ do you feel with your current employer?
(% ‘Totally committed’ by Country)
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Closely tied to the notion of
employee engagement is the
issue of how ‘valued ‘employees feel.
An employee’s perception about
value, or worth, impacts on a host of
workplace performance outcomes.
Globally, 40% of Financial Services
& Insurance employees say they
feel valued at work, but with a
significantly higher rate in APAC
(48%) than in EMEA (37%).
The highest rates are in Russia (58%)
and India and Indonesia (both 56%),
while the lowest are in Italy (16%),
Portugal (26%) and France (28%).
To what degree do you feel that you are valued by your current employer?
(% ‘Highly valued’ and ‘Valued’ by Country)
of value to
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One of the challenges for modern employees in many industries
revolves around the issue of how they keep their future
employment options open without actively canvassing a change
of jobs. This means they need to have lines of communication
at a firm or industry level. The survey directly asked employees
how they like to be engaged by a prospective employer.
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The strongly favored method
(cited by 58%) is for periodic
contact through phone calls, emails
and messages from employers
about relevant work opportunities.
This method is greatly preferred in
EMEA (58%) ahead of APAC (44%).
Participation in a firm’s talent community
is becoming more important, particularly
in APAC where 20% have embraced
the idea of talent communities, well
ahead of employees in EMEA (10%).
Participation in a firm’s social
media network is preferred by 11%
globally, while taking part in social
and/or networking events with
employees attracts about 10%.
Which of the following best describes how you would like to be engaged by a prospective employer?
(% by Region)
OtherReceive updates on
Participate in social
Participate in the
Participate in the
with others in online
talent community pool
work that ﬁts my
skill set and interests
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Opening the door
to new talent
Online talent communities are still a relatively new technique in
talent pool management but they hold appeal in certain markets
and are gaining traction in others. An online talent community
is an interactive forum where individuals interact with company
representatives and other community members. They will be informed
about the business as well as hear about potential job opportunities.
This study focused on employer/company-specific talent pools.
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Globally in Financial Services &
Insurance, 19% of workers say
they have participated in employers’
online talent communities. The
average across APAC is 25%,
considerably above EMEA (11%).
Across APAC, there are high rates
in countries including India (37%)
and Indonesia (35%), while in
EMEA, the highest participation is
in Russia (18%) and UK (16%).
Have you had any experience participating in an employer’s online talent community?
(% ‘Yes’ by Country)
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The advantages of online
talent communities among
those who have participated (19%
globally) largely centre on access
to jobs, cited by three-quarters.
There is also an attraction to the
idea of learning more about a
company, cited by 46% globally.
A total of 39% say they like learning
what it is like working for a company
from current and former employees.
This is more of an attraction in
APAC (47%) than in EMEA (36%).
If ‘Yes’ to the previous question*, what do you like most about participating in an online talent community?
(% Globally, multiple responses allowed)
* Have you had any experience participating in an employer’s online talent community?
it is like to work for
a given company,
and former employees
Access to job
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The idea of participating in these
online talent communities holds
a certain amount of appeal for
many employees, offering a glimpse
inside a potential workplace.
Globally, among the 81% who have no
experience of online talent communities,
44% say they are either ‘very interested’
or ‘interested’ in becoming involved.
However there is considerably
higher interest in APAC (49%)
compared with EMEA (38%).
Interest is highest in India
(66%), Indonesia (55%), Portugal
(55%) and Malaysia (52%).
If no experience with online talent communities, how interested would you be in participating?
(% ‘Very Interested’ and ‘Interested’ by Country)
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Social media and
Social media has taken on a new level of significance as a
platform for discussion about work and career opportunities.
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More than a third (37%) of Financial
Services & Insurance respondents
globally say that they rely on social
media in their job and career decisions.
However, the APAC region is well
above the global average at 52%,
compared with EMEA at 36%.
The most prolific users of social
media in career and/or employment
decisions are China (70%), India (63%),
Indonesia (54%) and Poland (52%).
Do you use your social media network when making career/employment decisions?
(% ‘Yes’ by Country)
Use of social
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The uptake of social media
means that it is occupying a
newfound place as a direct job
search tool, particularly at a time
when traditional print advertising for
jobs is declining in many markets.
Globally, more than one-third (38%)
say they are now more inclined to
search for jobs via social media than
through traditional means such as
newspaper advertisements, online job
boards or recruitment companies.
APAC (55%) is well above the global
average in terms of the use of
social media for job searches. It is
also well ahead of EMEA (36%).
The preference for social media
over traditional job search methods
is most pronounced in India (71%),
Indonesia (61%) and Malaysia (58%).
Would you be more inclined to search for jobs via social media than traditional methods?
(% ‘Yes’ by Country)
social media as a
job search tool
* ‘Traditional methods’ includes newspaper advertisements, online job boards or recruitment companies.
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Online job boards
lead the way
The way that Financial Services & Insurance employees secured
their most recent job tells much about the changing face of
recruitment and the differing trends in global markets.
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More than a quarter (26%) of
respondents, globally, secured
their most recent job via an online
job board, a trend that is obvious
across EMEA (28%) and APAC (25%).
The use of recruitment/staffing
companies and headhunters was the
second most frequent method of
securing work, at 19% both globally
and in EMEA, but at a considerably
higher rate (24%) in APAC.
Direct approaches from employers/
recruiters are consistently
14–15% in all the regions.
The use of word-of-mouth as a means
of securing work is at a higher rate
in EMEA (12%) than in APAC (7%).
How did you secure your most recent job?
(% top four methods by Region )
Word-of-mouthDirect approach from
Online job board
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The employee preference
in online job boards
With the growth in the use of online job boards to find work, there have
emerged a number of differentiated offerings to meet specific target audiences.
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The preference among all
respondents are general job boards
that cater to a broad range of positions
and industries. Globally, 81% prefer
these, with both EMEA (91%) and
APAC (86%) reflecting this pattern.
Company-specific job boards also
have a relatively strong following with
more than one-third (35%) adopting
these globally, with not dissimilar rates
in EMEA (31%) and APAC (38%).
Aggregator job boards, which gather
a host of information and place it
on a single site, are preferred by
almost one-third globally (31%),
but by significantly more in EMEA
(27%) than in APAC (10%).
Niche and/or association-specific job
boards are the preferred choice of
11% in EMEA, and 18% in APAC.
Which of the following types of online job boards do you most prefer for searching job opportunities and/or evaluating the marketplace?
(% by Region, multiple responses allowed)
association-speciﬁc job boards
Aggregator job boardsCompany-speciﬁc job boardsGeneral job boards
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The advent of digital and online
communications has opened
up a plethora of conversations
about work and the workplace.
Employers in the sector now have a
number of avenues both to attract the
most compelling talent and to convey
information about their businesses
as preferred places to work.
Employers will be mindful that the
turbulence in the industry over recent years
has left some employees jaded and restless.
While many employees may not be
actively looking for alternative work,
there are avenues they can use to explore
opportunities and keep their options open.
Online talent communities are
one such platform. They facilitate
informed conversations with past
and current employees, providing
prospective candidates with valued
insights into the workplace.
With the opening of multiple platforms in
which to converse and exchange views,
employers have an opportunity to make a
contribution, to highlight key values, and
to attract a wider array of candidates.
Casting a wider net