October 2024

Global Talent Trends

Data-driven insights into the changing world of work

 

 

 

 

 

 

Your guide to finding and hiring the right person for your organization

 

 

 

 

 

 

 

 

 

 

 


Over the past 12 months, talent leaders have tackled one big challenge after another, even as those challenges often pulled them in opposite directions. Remote work and return to office. Hiring surges and headcount reductions. Developing AI-specific skills and prioritising innately human skills.


As far-ranging as those issues are, they all point to the key to success in the emerging world of AI: a company's people.

“As experts in human potential and change management, talent leaders are uniquely positioned to help their organisations unlock human capability in this AI era of work. Just as you’d upgrade your tech stack, you’ll need to upgrade your talent playbooks to stay ahead and unleash all that’s possible.” Teuila Hanson, LinkedIn senior vice president and chief people officer

Teuila Hanson

LinkedIn senior vice president and chief people officer

Profile image of Teuila Hanson.

In this report, we surface data insights from LinkedIn’s Economic Graph, the LinkedIn Executive Confidence Index survey, and our global member community of over a billion professionals to understand how the world of talent is shifting with the arrival and proliferation of generative AI (GAI).

Trends in the labor market – Coworkers strategizing in a meeting.

Hiring around the world and in India is stabilising — internal mobility is on the rise

Year-over-year hiring rates are stabilising, with a moderation in the hiring slowdown.

 

 

While hiring rates across most industries are down, the tech industry is recovering from a hiring slowdown and is even up in several countries relative to last year. 

In India, three industries that showcased growth during the slowdown were utilities, retail, retail estate and equipment rental services.

* = Seasonally adjusted.

The LinkedIn Hiring Rate (LHR) is the number of LinkedIn members who added a new employer to their profile in the same month the new job began divided by the total number of LinkedIn members in that country. By only analysing the timeliest data, we can make month-to-month comparisons and account for any potential lags in members updating their profiles.

Bar chart showing hiring rate decrease in 13 countries from August 2023 to August 2024.

Internal mobility in India has increased 15% year-over-year.

 

More than double the global increase of 6%.

 

“Internal mobility” is defined as any point in which an employee took a new position at the same company and includes both lateral moves and promotions. Companies with fewer than 100 transitions were excluded.

Stat showing 7% increase in internal mobility year-over-year.
Profile image of Karin Kimbrough.

 

What LinkedIn chief economist Karin Kimbrough says to talent leaders: 

What LinkedIn chief economist Karin Kimbrough says to talent leaders: 

Hiring in most countries and most industries is still down year-over-year, but this slowdown has begun to show signs of moderation and even stabilisation in some cases like the technology, information, and media industry. LinkedIn data showing increasing internal mobility is encouraging and shows that companies are discovering how leveraging internal hiring can accelerate organisational agility, employee engagement and retention, and career development.

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Trends in AI – Person in a public space with their phone and laptop.

The time for organisations to welcome GAI is now

About 9 in 10 Indian executives see at least one way GAI will help their employees. 

#1

reducing time spent on mundane, but necessary job tasks

#2

freeing up employees’ time for strategic and creative thinking

#3

increasing productivity

 

Most companies haven’t yet fully embraced GAI, creating a significant opportunity for those who move quickly to get on board.

 
 
  • About 1 in 10 Indian executives says they are “Leading — my organisation has broad leadership alignment, comprehensive tools, and strong processes in place for GAI adoption.”
  • About 3 in 10 say they are “Accelerating — my organisation is making progress toward leadership alignment and has some tools and processes in place for GAI adoption.”
  • About 4 in 10 say they are “Emerging — my organisation has limited leadership alignment, limited tools, and ad hoc processes in place for GAI adoption.”
  • Only 2 in 10 say “my organisation has not started on the process.”

LinkedIn’s Executive Confidence Index (ECI) is an online survey taken every quarter by ~5,000 LinkedIn members (at the VP-level or above in 10+ countries). ECI data included in this report are from June 12-26, 2024. Members were randomly sampled and must be opted into research to participate. We analyze data in aggregate and will always respect member privacy. Data are weighted by Seniority and Industry to ensure fair representation of executives on the platform. The results represent the world as seen through the lens of LinkedIn’s membership; variances between LinkedIn’s membership and the overall market population are not accounted for.

Profile image of Aneesh Raman.

 

What LinkedIn chief economic opportunity officer Aneesh Raman says to talent leaders:

What LinkedIn chief economic opportunity officer Aneesh Raman says to talent leaders:

Most organisations are curious and excited about AI’s potential but are stuck on how to make that potential a reality in the day-to-day of work. The talent innovators I’ve spoken with have one thing in common: They are bringing a human-centric view to AI and believe in the power of people more than the power of tech alone. Those pioneers know that for AI adoption to be effective, talent leaders need to be involved at every stage of the planning, bringing their change management skills to bear at every step. The organisations that get that will be the organisations that succeed most in this new era, because in this era it'll all come down to who has the best talent, not simply the best tech.

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Trends in hiring – Coworkers meeting in a common office space.

Recruiting leaders will be zeroing in on soft skills

94% of Indian executives plan to hire next year.

Top 5 soft skills in India:

 

1.     Professional Networking 
2.     Building Trust
3.     Personal Branding 
4.     Emotional Intelligence 
5.     Personal Development

Stat: 69% of U.S. executives say they plan to prioritize hiring candidates with soft skills.
Profile image of Erin Scruggs.

 

What LinkedIn VP and head of global talent acquisition Erin Scruggs says to talent leaders:

What LinkedIn VP and head of global talent acquisition Erin Scruggs says to talent leaders:

AI has the potential to lead to major shifts in how we hire and who we hire. As AI increasingly takes on the less complex, more repeatable tasks being done by the workforce, companies will need to hire talent who have broader, uniquely human skills. We’re seeing increasing demand for skills like problem-solving, adaptability, and collaboration — skills that spur organisational agility. And more and more, TA teams that are looking to hire quality talent faster should consistently scour their current employee base as a source of hire alongside potential external talent.

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Trends in learning and development – Person working from home on their phone and laptop.

AI adoption goes hand-in-hand with broad skill development

Adopting AI is not just about productivity; it’s also about enhancing human capabilities to create a more innovative workforce.

 

In India, employees who have generative AI skills are 20x more likely than others to develop skills like professional networking, 9x more likely than others to develop skills like personal branding, 8x more likely than others to develop emotional intelligence and 4x more likely than others than others to develop skills like design thinking and creative ideation.

Globally, companies that have more employees skilled at using generative AI tools also see 4x higher leadership and 5x overall promotion rates compared with companies with fewer such employees.

In India, LinkedIn members increased their consumption of learning content by 37% year-over-year, signaling that they are dedicating more time to learning and upskilling.

9 out of 10 Indian executives plan to either increase or maintain their financial investment in employee learning & development, including upskilling and reskilling.

Employees skilled at using GAI are measured by members who have added at least one GAI skill, such as ChatGPT, to their LinkedIn profiles. Overall promotion rate is measured using the median ratio of total promotions by total average headcount and leadership promotion rate is measured using the median ratio of total managerial level promotions by total average headcount, both in the last 12 months. Only full-time employees are considered in companies with more than 100 employees.

The likelihood of developing a soft skill is determined by dividing the proportion of GAI skilled members who upskilled by the proportion of non-GAI skilled members who upskilled a given soft skill in the last 12 months.

A profile image of Stephanie Conway.

 

What LinkedIn senior director of talent development Stephanie Conway says to talent leaders:

 

What LinkedIn senior director of talent development Stephanie Conway says to talent leaders:

 

Creating readiness for AI adoption requires companies to take a systemic approach. Providing opportunities to apply gen AI in the flow of work (the what) needs to be combined with a focus on human skill development, in particular growth mindset, innovation, and resilience (the how). Underpinned by a culture of continuous learning, from new hires to senior executives (the who), “learning to learn” will become a critical skill for organisations as they develop talent that can adapt to the fast-evolving workplace. I encourage talent leaders to be early adopters by experimenting with this new technology, integrating it into learning experiences, and exploring how AI tools can scale learning across their organisations.

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GAI is both an opportunity and a challenge

Companies that embrace GAI by securing the right tools, applying them intelligently, and supporting their teams in learning how to best use them will reap a windfall in increased engagement and productivity. 

Even as workforces become more GAI savvy, they will simultaneously need to sharpen their particularly human skills — think problem-solving, communication, creativity, and compassion. LinkedIn will be here each step of the way, with timely thought leadership, unique data insights, and innovative tools to help organizations thrive.

 

 

Explore the translated Global Talent Trends

Japanese | Chinese | EMEA - Spanish | LATAM - Spanish | LATAM - Portuguese | Italian

Explore the regional Global Talent Trends

Global | Australia | Southeast Asia | Germany | The Netherlands | United Kingdom | France

Questions? Comments? Feedback? Reach out to the report lead, Tanya Oei.

 

Visit our Talent Blog and follow us on LinkedIn for more talent trends and insights.

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