This month, LinkedIn released its latest "Global Talent Trends" report, with data-driven insights covering the last 12 months.
A few takeaways from this window into talent trends from us at Freshminds - written by our Head of Growth, Suzy Lockwood
Hiring is sluggish, but internal mobility is on the rise: It's certainly no surprise to us that the data reflects a slow hiring pace over 2024. The market is candidate- and skill-rich but hiring poor; especially across Europe, as we see here. We’re optimistic about the outlook for 2025, however. Not only is Freshminds seeing hiring gather some steam in the tech industry as the data suggests, we're also seeing positive hiring movements in project management and strategy support – potentially reflective of new projects being kicked off and hiring budgets being released. Internal mobility being on the rise is a smart move from organisations. As hiring freezes and budget cuts have taken over in many organisations over the past year, an obvious alternative is to look inward for the skills you require. This is a bonus for both the candidate and the organisation. Not only does it increases rates of employee retention, but the exposure to new roles can help address skills gaps elsewhere in the organisation. We'd imagine this will grow, albeit at a slow pace, over the next year, not just because organisations have to look to internal mobility, but because they see the benefits of doing so.
Use of GenAI is a mixed bag: As this data suggests, whilst 40% of global executives are exploring GenAI, the reality of implementation remains more complex. Despite significant interest and thought leadership in the GenAI space across both hiring, recruitment and talent more generally, a "say-do gap" persists. While adoption is likely to increase, it's expected to be gradual and fragmented, rather than a rapid, industry-wide transformation.
Recruiting leaders will be homing in on soft skills going forwards: We agree – and the Freshminds team is seeing this in daily interactions with clients. As the job market evolves, soft skills are becoming increasingly crucial. Employers are seeking candidates who are adaptable, and are interviewing with that in mind. The "expert generalist" profile, characterised by versatility and the ability to learn quickly, is in high demand. This shift in focus has two implications:
a) Long-Term Hiring: Organisations are investing in talent with the potential to evolve within the role, rather than hiring for specific, static skill sets.
b) Short-Term Solutions: Interim talent can be leveraged to address short-term skill gaps and adapt to rapidly changing business needs, instead of hiring for a static set of permanent skillsets.
For more insights - or to speak to the Freshminds team: get in touch here, or via hello@freshminds.co.uk
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