Linkedin Talent Connect 2022
Summary of Insights
🎢The Talent function has increased in complexity and strategic impact. The role of Talent professionals extends beyond hiring to onboarding, learning, mobility, retention, and rewards. Change, and complexity in the field will continue increasing, and we need to learn how to move from a sprint to a marathon mentality for our teams to thrive
🌀Despite a potential economic slow down/downturn that Economists are predicting, the labor market will continue to be tight. This is due to higher mobility across industries, and demographics tightening the available workforce
❣️Purpose alignment is a given. The main drivers for workers are getting a sense of inclusion and belonging, being recognized as individuals, and having opportunities to grow
🤹Skills are core to the design of any attraction, development, and retention initiatives. They expand the diversity of the talent pools, and minimize bias throughout the employee lifecycle. AI can help build sustainable skill based models that stay relevant over time
đź’»Web3 technology provides with opportunities to create more immersion, and add a layer of connection to a highly digital employee experience
Conference Notes:
Talent Trends
Expected peak unemployment rate in 2023 will still be much lower than in previous recession periods (4.5%) compared to 10% in 2009 and 14% in 2020
In the US there’s still 1 job per applicant in the platform
Hiring has slowed Y/Y from September 2021 to September 2022
Mentions of layoffs have increased by 20% in 2022
There’s less people changing jobs than last year
25% of the skills required for a job change over time. Digital skills are the ones that are more seeked after
Internal Mobility increases retention x2
Migrating outside of big cities is a trend that is reversing Worldwide; big cities are back
20% of the roles posted on Linkedin are remote and they receive many more applications
Opportunities to learn and grow are the number one driver to change jobs
91% of employees want to feel inspired to learn by their manager. Only 52 % feel their manager encourages them to learn
Glennon Doyle KenNote take aways:
“Create organizations where we can be both held and free”
“You can’t only pick up people and help them out of the water downstream. You need to look at who’s pushing them into the river upstream”.
Diversity Insights
It’s about inclusion & belonging
No matter how much effort you make in bringing in more diversity. You need to work in an inclusive culture so that the organization is ready to receive them
Josh Bersin’s keynote takeaways
During the great reshuffle, almost a third of the workforce left their jobs; many changing industries
Unemployment won’t increase because of the dynamism and mobility opportunities that workers have
Burn out rate went from 63% to 81% from 2019 to 2022
Fertility rate is way below replacement levels in developed countries
Growth, opportunity, belonging, appreciation, and productivity is what really matters the most in Employee experiences
92% of surveyed employers are raising base pay this year. Pay equity plays a big part.
Instead of trying to detail all of the skills required, identify the business capabilities that are needed to be successful in a job, and then use Tech to get to the skills
Learn about skills adjacencies, and what career pathways you can create for people
Jose Andre’s keynote takeaways
Learn to control the fire before you steer the pot
People become part of the team when you act like they are part of the team
We give teams the resources and intelligence they need to amplify their impact
You can learn from the most unexpected people the biggest life lessons
John Vlastelica keynote takeaways
Strategic Question to ask a hiring manager: What do you want your organization to look like in 2 to 3 years? (mix of generalists, specialists, IC/Manager ratio, experience, culture, diversity…)
Partnering with Compensation: Setting compensation principles, bringing lost offers as evidence to review principles, reviewing internal candidates that left due to compensation, surfacing compensation issues across the funnel.
Partnering with Onboarding: Approaching it as a 100 day process not a 2 day new hire orientation. “Hire people who can hit the ground Learning”. Raising the accountability of People managers in the outcomes (development, performance, retention…). Developing the onboarding plan when the requisition is opened.
Dr Serena H. Huang keynote takeaways
Build a model powered by machine learning to predict who will be leaving the organization
Build a skills taxonomy for revenue generating roles that would look into what skills are predictive of business outcomes #moneytalks
Identify skill gaps during the recruitment process and put new hires through a learning path to bridge them
Pick the roles that are most important for your company success to start with
Build 2-way skills assessments (self and manager) to understand awareness/alignment gaps. Get Subject Matter Experts to sign off and validate them.
Caroline A. Wanga keynote takeaways
“Who you are is who you are. If you can’t be who you are where you are, change where you are, not who you are”.
“Stop trying to retain people.”
What has been allowed to exist is this idea that “retention success means keeping you,”
Instead: “Be the place that puts the best of talent out into the world.”