The International Job Market Is Changing. Here’s How Industries Are Adapting—And Growing
Data is the lifeblood of modern business. It’s shaping everything from international trade to the TV shows we watch (and, come to think of it, the adverts we see while watching those shows).
The jobs market is no different. Data-driven decision making is revolutionising the workplace. Most of us wouldn’t buy a big-ticket item like a new TV or car without doing some research online first, so why wouldn’t you do the same in your professional life? Our aim at LinkedIn is to help our members generate valuable insights that help them with their next career move, hire or business strategy.
We are lucky to have a brilliant data team supporting this goal. For our most recent project they analysed a sample of over 7.5 million LinkedIn members across Ireland, Italy, the Netherlands, Sweden, Spain, the UAE and the UK to better understand how EMEA’s talent mix changed between March 2015 and March 2016. Although the overall picture is a complex one (hardly a surprise given the diversity of the sample), some core themes emerge.
First, it’s clear that tech remains a draw for talent. Software was one of the top three growth industries in over half of the countries we studied and saw double-digit growth in member numbers in four of those markets. It’s no surprise that the industry’s biggest names often top lists of the most desirable companies to work for, thanks in part to very effective marketing to promote their employer brands, even capturing the imagination of Hollywood in recent years.
Conversely, the disruptive effects of technology and the knock-on impact these are having on consumer behaviours have forced some longer-established industries to adapt their operations, for example by embracing greater automation of processes. Take UK bricks-and-mortar footwear retailer Schuh, who are looking to partner with Israeli startups to drive more online sales. Retail is just one of the sectors in this transitional phase – telecommunications, and media and entertainment sectors were also commonly featured in individual countries’ top three contracting industries.
Finally, there is a strong entrepreneurial spirit running through the EMEA region. We have seen a surge in entrepreneur members across all the markets and industries we studied. There has also been a general swell in member numbers for businesses with up to 200 employees, suggesting that small is being seen as beautiful for today’s jobseekers. This is food for thought for Europe’s larger employers, who may need to consider how they can replicate the culture and opportunities offered by SMEs at scale.
Why do these trends matter? Simple – people are still at the heart of business. Your strategy soars or sinks based on the ability of your staff to execute it. Gone are the days when key decisions such as where to locate your next office or which industry to expand were based on gut instinct. Now that talent is quantifiable, you can do the same due diligence with your recruitment plan as you would with your financials. But even more than that, you may just find something surprising in the data that completely changes your strategy for the better.
If that sounds like a bit of a tease, well it was absolutely intentional. We will be sharing some more of the key EMEA insights that we have uncovered over the coming weeks, so watch this space….
Contact John Assunto for all of your Education Recruiting needs! Johna@worldbridgepartners.com or 860-387-0503