Staying updated on the latest workforce trends is crucial for TA leaders and HR professionals. This week, we delve into three significant developments shaping the talent landscape and get SocialTalent CEO, Johnny Campell’s first-hand takes on these pieces.
- First, we dive into one of LinkedIn’s latest articles around the need for more green skills. The demand is clearly rising but how can recruiters adapt their sourcing process?
- Offering “fantastic examples from major employers and practical advice for managing a balanced workforce” HBR’s piece on the rise of freelance workers is an eye-opening study in the need to look at a more blended employee base as being the norm.
- And lastly, we discuss SHRM’s news article on how job openings are falling suggesting some labor market stabilization and equilibrium with strong demand and healthy turnover rates. But does this line-up with what Johnny’s seeing?
Join us as we explore these pivotal insights and their implications for the future of work.
1. LinkedIn: Demand for Green Skills Is on the Rise
Source: LinkedIn
The demand for green skills is rapidly outpacing supply. Job postings requiring green skills increased by 22.4% from 2022 to 2023, while the share of green talent grew by only 12.3%. This disparity could lead to a significant shortage of green energy workers by 2030. To address this gap, companies should focus on upskilling and reskilling their workforce, emphasizing the importance of green skills across various industries, including energy, transportation, finance, and beyond. Embracing green jobs not only aligns with sustainability goals but also attracts values-driven Gen Z talent.
Johnny Campbell’s take on this:
“In theory, this is a great article discussing the surge in demand for green skills, but I feel it is somewhat lacking. It talked a lot about the need for green skills and the high demand, but didn’t actually define what those skills are. If you’re trying to understand what specific green skills are in demand, you’re better off checking LinkedIn’s report from last year. Head straight to page 22 onwards for the real insights. That section has the details recruiters need and helps understand the exact skills the labor market is looking for. So, give the article a read for some good context and dive into the report for the real meat.“
2. HBR: Highly Skilled Professionals Want Your Work But Not Your Job
Source: HBR
Marta, CTO at a sporting goods company, faces a talent shortage in her team, critical for advancing digital and AI capabilities. Despite generous offers, recruitment efforts have failed, leading her to consider freelancers. This shift is part of a broader trend where companies increasingly rely on freelancers to fill skill gaps, especially in tech and digital fields. Integrating freelancers requires new management approaches to maintain company culture, manage project needs, and ensure knowledge transfer. As more workers prefer freelance roles for flexibility, companies must adapt to a blended workforce model to remain competitive and innovative.
Johnny Campbell’s take on this:
“I recommend checking out this article as a follow-up to last week’s piece on older workers in South America re-entering the workforce as freelancers. This one shifts focus to the company’s perspective, detailing what it takes to successfully integrate freelancers and contractors into teams. It offers fantastic examples from major employers and practical advice for managing a balanced workforce of employees and non-employees. Co-authored by the highly regarded Diane Gerson, former CHRO of IBM, it’s packed with valuable insights and solutions for anyone dealing with the complexities of a mixed workforce. A must-read if you’re navigating these challenges!“
3. SHRM: Job Openings Continuing to Slide
Source: SHRM
Job openings fell by nearly 300,000 in April to 8 million, continuing a downward trend, according to the U.S. Bureau of Labor Statistics. This decline mirrors the drop in online job postings, indicating a cooling job market. Despite a slight rise in quits to 3.5 million, showing reduced worker confidence, layoffs fell to 1.5 million. This suggests labor market stabilization, moving towards equilibrium with strong demand and healthy turnover rates, says SHRM economist Justin Ladner.
Johnny Campbell’s take on this:
“Roy at SHRM has shared some excellent data showing the U.S. job market’s stability. Job postings and quit levels are holding steady, which supports LinkedIn’s recent prediction of potentially high attrition later this year or next. This current data suggests a stable environment, but it’s worth keeping an eye on as things could shift. For a broader view, check out the Department of Labor’s recent report, which offers additional insights into the U.S. labor market. For now, things seem steady, but this data is a great complement to other recent job reports. Definitely worth a look!“
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The post Talent News Round-Up: Green Skills, The Rise of Freelancers, and Falling Job Openings appeared first on SocialTalent.