With the evolution of borderless talent and geographical locations demanding specific skillsets the recruitment space has adapted its tactics.
1. The Job Search Has Evolved
Candidate’s attitudes and methods of finding work have evolved. Job searches are more personal. Rather than searching for roles at job fairs or in newspapers opportunities are found through network connections. Searches are more social. Social Networking tools such as LinkedIn, Facebook and Twitter have dramatically increased the number of online job searches.
The current recruitment refers to the traditional premise of its “not what you know, but rather its whom you know “The ability to source and critique job opportunities is more transparent and global job boards make roles extremely accessible. Studies have suggested that mobile technology and platforms will be a component of most jobs searches by 2020.
2. Business Is on The Move
The global transition from high cost markets to low cost markets has been evolving for the last 2 decades and this has accelerated recently. Traditionally North America and Western Europe were the strong manufacturing economies. Talent who ran these industries will need to relocate to where the work is available. Demand for global talent is evident in the areas of:
These professions are of exact relevance to the US Market but will have a knock on effect across Companies Offices in EMEA.
3. Consumer Markets Are Shifting
The most lucrative and growing consumer markets are being redefined. For example, previously there were once Agricultural Societies. These sectors are evolving to mass production focused economies. The US has increased daily wages and as a result new consumers are entering the market each year. By 2020, China has the potential to rival North America and Western Europe as the largest global consumer economy. This issue will dramatically affect the supply and demand of skilled workers. That means jobs for marketing and promoting consumer goods will shift as the demand for new goods expands and develops.
4. Demographics Are Uncontrollable
The aging population across EMEA is undeniable. It has been suggested that the exit of millions of experienced middle managers from the workforce won't devastate corporates directly but the decline of highly skilled workers within the technical and engineering sector will be far more difficult to swallow. It has been noted that these shortages will occur in the mathematical/scientific related professions. This will happen at the time where these established economies are in demand for technical skills and the development of digital platforms will have an affect on businesses and employment opportunities.
5. The Educational Landscape Is Evolving
Education is an essential factor in offshoring. Degrees in Science and Mathematics are highly prevalent in Russia, China, and India rather than in North America or in Western Europe. Studies indicate that in the USA only 1.6% of students in their early twenties have degrees in Engineering. This percentage has doubled for Undergraduates in Russia and tripled in China.
In countries such as Japan, China, South Korea, Hong Kong and Taiwan the percentage of the workforce with Post graduate Qualifications will increase to 20% in the next decade. Postgraduate study will follow a similar trend. North American numbers will remain relatively static but Asia will produce a large pool of doctoral talent to sustain new global openings.
6. Company Locations And Brands Are Global
The largest and most established corporations are positively reacting to all the global influences discussed above. These organisations will engage with their governments to enable easier cross border talent movement. It is also suggested that there is an effort to be made by multi national companies to harmonise tax and wages across industries and demographics. Employers will need to concentrate on international assignments. Management will need to be experienced in global markets, not just domestic climates where the company is headquartered. Both the Corporate brand and Senior Officers will need to have global exposure in order to survive the predicted war on talent.
7. The Nature of work is Evolving
Our global climate has evolved from manufacturing based to a service-focused and information-based economy. Businesses and workers are no longer confined by a specific physical place where work must be accomplished. Such shifts allow for businesses to run at any hour of the day within any location. The anytime anywhere premise has been adopted by Companies globally and affects the types of staff they employ. Recruiters should consider this issue across the globe, as an urgent need for such candidates will provide lucrative opportunities.
The future of the Global Recruitment Sector will evolve dramatically due to the issues discussed above.
These changes will be the most significant between now and 2020.
The recruitment industry will need to adapt to the global supply and demand imbalance much like corporate employers have.
This may be achieved by adopting innovative technologies, which allow you to enhance your current teams with additional specialist skills and local knowledge.
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