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Global Talent Market QuarterlyFOURTH QUARTER l 2014
Global Talent Market Quarterly
CONTENTS
3 Global Economic Situation •Outlook
•Briefing
6 Global Labor Market Update •Americas
•EMEA
•APAC
•GlobalLaborMarketSpotlight
•LegislativeUpdate
12 U.S. Labor Market Overview •CurrentEmploymentConditions
•SupplyandDemand
•LaborMarketSpotlight
16 Workforce Solutions Industry Insight •LaborMarketShifts
•TheTrainingandDevelopmentGap
•GlobalMobility
•TheTalentProject
Global Economic SituationFOURTH QUARTER l 2014
GLOBAL ECONOMIC OUTLOOK
The global economy is forecast to accelerate modestly in the short term, with both strengths and risks present in all regions. Positive contributions include healthy economic activity in North America and the U.K., slowly recovering conditions in Europe, and continued high GDP growth across the APAC region.
Source: IHS Global Insight (October 2014)4
AMERICASSolid growth across North America stands in contrast to the volatile economic conditions in South America, where Argentina, Venezuela, and Brazil have all seen recessions in 2014.
EMEAThe European recovery stumbled in mid-2014, but a gradual improvement is expected, with a lift from solid economic growth in the U.K. and Ireland. The Russia-Ukraine conflict and crises in the Middle East are creating pressure on some regional economies.
APACThe elevated regional growth rate in APAC masks significant differentials in trends among key markets, including a slowing trajectory in China, recovery in India, and a steady, moderate rate of expansion in Australia and Japan.
2.6% 2.7%
3.2%3.6%
2.3%2.0%
2.6%3.0%
1.0%
1.6%
2.3%2.7%
4.8% 4.8%5.0% 5.2%
-1%
0%
1%
2%
3%
4%
5%
6%
2013 (p) 2014 (p) 2015 (p) 2016 (p)
REAL GDP GROWTH BY REGION, 2013-2016(p)
World Americas EMEA Asia-Pacific
Global Talent Market Quarterly
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ECONOMIC BRIEFINGS
The engine of global growth continues to shift from the emerging markets to the developed countries, currently led by strength in the largest English-speaking nations. Among emerging markets, Brazil and Russia have edged into recessionary territory but are expected to begin to recover in 2015, while China has also shown signs of weakness.
-2% 0% 2% 4% 6% 8% 10%
Russia
Italy
Brazil
France
Japan
Germany
U.S.
Canada
Australia
U.K.
India
China
REAL GDP GROWTH RATES, SELECTED MARKETSRanked by 2014(p) growth
2014(p)
2015(p)
2016(p)
5
Global GDP Growth2014(p): 2.7%
Sources: IHS Global Insight (October 2014); Oxford Economics
EMERGING MARKETS Weakening in the industrial sector and real estate are dampening CHINA’s growth, but
ongoing stimulus is keeping the economy from slowing further.
The second quarter brought signs of a recovery in INDIA’s economy, as the new government’s efforts to revive investment and manufacturing have started successfully.
The RUSSIAN economy is expected to contract in 2014, due in part to sluggish exports, weak investment activity, and targeted sanctions over its military maneuvers.
Declining investment and weak consumption levels in BRAZIL will keep economic growth flat to slightly negative in 2014. A rebound is forecast in 2015-16.
DEVELOPED ECONOMIES In the U.S., the economy is expected to sustain solid growth trends in 2014 and
accelerate slightly in the following years, driven by domestic demand.
Lower oil prices are keeping CANADA’s growth in check, but domestic consumption and healthy export demand are expected to drive modest growth in the near term.
Economic growth in the U.K. is expected to remain among the strongest in the region in the near term. Mixed performances across Europe in Q2 2014—including setbacks in GERMANY and ITALY—have slowed the recovery outlook in the Eurozone.
After a very strong Q1 in advance of the new sales tax, economic activity dropped in JAPAN in Q2 2014. The outlook is for modest growth of around 1% in the short-term.
The AUSTRALIAN economy continues to feel some negative effects from the slowdown in the mining sector, but domestic consumption and export demand are strengthening.
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Global Labor Market UpdateFOURTH QUARTER l 2014
GLOBAL LABOR MARKET UPDATE: AMERICAS
Although the U.S. has seen an improving employment picture moving in tandem with a strengthening economy, other key regional markets show a disconnect between the labor market and the broader economy. In Brazil, employment demand remains high despite an economic downturn, while Canada’s sluggish job creation is not reflective of its healthy economic growth.
Sources: IHS Global Insight (October 2014); Dow Jones Institutional News, 10.09.14, 10.17.14; EIU, 10.14.14
7
UNITED STATESSolid and steady employment gains have driven the unemployment rate down significantly in 2014. The pace of hiring is expected to remain healthy in the short term, leading to continued improvements in the labor market.
BRAZILDespite an economy that fell into recession in H1 2014, the Brazilian labor market remains tight. The unemployment rate is expected to rise in 2015, driven by the weak business environment.
CANADAJob creation in Canada has been relatively subdued and unemployment remains high in 2014, although economic growth has been solid. Labor market gains are expected to be gradual in the coming years.
MEXICOAlong with improvements in the economy, the Mexican labor market has shown some positive momentum in 2014. Workers are moving from informal to formal employment, helped in part by the 2012-13 labor reforms.
7.4%
6.2%
5.7% 5.5%5.4%
5.0%5.4% 5.4%
7.1%7.0%
6.7%6.5%
4.9% 5.0%4.8%
4.5%
3%
4%
5%
6%
7%
8%
9%
2013 (e) 2014 (p) 2015 (p) 2016 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
U.S. Brazil Canada Mexico
Global Talent Market Quarterly
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GLOBAL LABOR MARKET UPDATE: EMEA
Although positive indicators have been seen recently in many beleaguered European labor markets, progress has been very slow and fitful as the region’s economic recovery remains fragile. The U.K. continues to rank among the region’s standout markets with strong employment growth and rapidly falling unemployment.
Sources: IHS Global Insight (October 2014); Agence France Presse, 09.24.14; The Times, 10.15.14
8
FRANCEDouble-digit unemployment is expected to persist in the short term as the economy continues to struggle. Encouragingly, some signs of improvement in the labor market were seen in the second and third quarters of 2014.
GERMANYThe buoyant German labor market is expected to see a continued gradual decline in unemployment. Labor force participation and employment are both expected to increase, due to both supply- and demand-side factors.
RUSSIADespite its economic woes, the labor market in Russia is tight and unemployment is low, particularly in its large cities. An aging workforce and low productivity add to the challenges in the workforce.
UNITED KINGDOMUnemployment has fallen at a historically fast rate in the U.K., dropping to 6% in the three months to August 2014, down from 7.7% a year earlier. The labor market improvements are forecast to continue, albeit at a slower pace.
10.3% 10.2% 10.1%9.7%
6.9% 6.7% 6.6% 6.4%
5.5%5.1% 5.0% 4.9%
7.6%
6.3% 5.7% 5.5%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
2013 (e) 2014 (p) 2015 (p) 2016 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
France Germany Russia U.K.
Global Talent Market Quarterly
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GLOBAL LABOR MARKET UPDATE: APAC
Structural shifts, cyclical factors, and political developments are variously affecting labor markets across APAC. Improvements are expected in the short-term in India and Australia, while China’s employment outlook is more challenging.
Sources: IHS Global Insight (October 2014); South China Morning Post, 09.20.14; International New York Times, 10.18.14
9
AUSTRALIAThe labor market is expected to be somewhat volatile in the short term, as many job seekers are regaining confidence and are expected to re-enter the workforce, temporarily driving up the unemployment rate.
CHINAAlthough the official urban unemployment rate remains steady, other indicators suggest difficulties in China’s job situation. Recent surveys found that both companies’ and job seekers’ confidence in the labor market is low.
INDIAPromoting job creation is a priority of newly-elected Prime Minister Narendra Modi’s “Make in India” initiative. The government has announced some incremental reforms to labor laws; however, more significant changes are unlikely to be announced until after state elections in 2015.
JAPANThe Japanese labor market has lost some of its rigidity, and has been able to withstand some economic challenges. Unemployment is expected to rise in the near term, but remains low by developed country standards.
5.7%6.0% 5.8%
5.4%
4.1% 4.0%
3.9% 3.9%
9.2%9.5% 9.3%
9.0%
4.0% 3.7%
4.3% 4.5%
3%
4%
5%
6%
7%
8%
9%
10%
2013 (e) 2014 (p) 2015 (p) 2016 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
Australia China India Japan
Global Talent Market Quarterly
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LABOR MARKET SPOTLIGHT: WAGE AND PRODUCTIVITY GROWTH
Source: OECD Employment Outlook 201410
Labor market conditions have been improving across the globe in recent years, but in many developed countries, the gains haven’t made an impact on workers’ financial situations. According to the OECD Employment Outlook 2014, real wages (those adjusted for inflation) have been stagnant over the past five years. In the OECD area, wage growth averaged just 0.2% in recent years, down from an average of 0.7% at the start of the recession. Wage growth has slowed since the onset of the crisis most significantly in the Eurozone (from 2.1% to -0.1%), but also in areas including North America and Japan. In the U.K., real wages have continued to decline since the onset of the recession.
However, since the recession, developed countries have seen a resurgence of productivity, according to the Employment Outlook. Hourly labor productivity growth declined during the onset of the recession in 2007-2009 by an average of -1.2% across OECD countries, but has since turned positive. In fact, average labor productivity growth is now outpacing real wage growth in a majority of OECD countries, suggesting that the true cost of labor is lessening.
WAGE GROWTH HAS STALLED, BUT PRODUCTIVITY HAS REBOUNDED
0.7%
2.1%
-0.1%
2.5%
1.2%
2.3%
0.2% 0.4%
-1.5%
0.5%0.2%
-0.1%
1.8%
0.8% 0.8%0.3%
-0.6%-0.1%
-1.0%
0.2%
OECD Eurozone Australia Canada France Germany Italy Japan UK US
REAL HOURLY WAGESAverage Annualized % Growth Q4 2007-Q1 2009 Q1 2009-Q4 2013
-1.2%-1.6%
0.7% 0.5%
-1.2%
-2.9%-2.1%
-3.4% -3.2%
0.3%
1.4% 1.3%1.7%
0.9% 1.2% 1.2%0.5%
1.8%
0.1%
1.3%
OECD Eurozone Australia Canada France Germany Italy Japan UK US
HOURLY LABOR PRODUCTIVITYAverage Annualized % Growth Q4 2007-Q1 2009 Q1 2009-Q4 2013
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GLOBAL LEGISLATIVE UPDATE
Restrictions on the usage of temporary workers will be eased in India and Serbia, while in Vietnam, regulations for staffing firms have been loosened. New legislation in South Africa seeks to more clearly define the temporary employment model.
Sources: SIA Legs and Regs Advisors; SIA Daily News, 09.29.14, 08.21.14; International New York Times, 10.18.14Currency converted using 2013 Federal Reserve Board exchange rates of 1/13281 EUR and 1/1.5642 GBP.
11
UKAs of October 1, the national minimum wage increased to £6.50 ($10.17 USD) for adults age 22 and over. Other changes to labor laws include guarantees for the rights of partners of pregnant women to attend prenatal doctor visits, and protection from unfair dismissal for military reservists.
VIETNAMUnder a new decree, the licensing requirements for businesses that offer employment services have been loosened. In addition, employment services companies may now offer a broader set of activities including consulting, training, and providing labor market intelligence.
INDIAThe Indian government announced plans to reform labor laws to make it easier for industrial companies to hire temporary workers, and to give temporary workers greater access to mandatory social benefits. Other reforms include a new skills training program, a new government website to track compliance with labor laws, and an initiative to improve the portability of pension funds.
SERBIASeveral amendments to the labor law came into force on July 29, 2014. Of note is the liberalization of fixed term employment; the maximum duration of fixed-term contracts has been extended from 12 months to 24 months, and in some cases longer (such as project-based work).
CANADAProposed changes to employment laws in Ontario would have some implications for staffing firms and employers of contingent workers. For example, temporary help firms and their clients would be liable for unpaid regular wages and overtime pay for temporary workers.
SOUTH AFRICAThe Labour Relations Amendment Act (LRAA) limits the use of temporary agency workers to instances in which the work needs are genuinely temporary (e.g. replacing an absent employee, meeting a temporary increase in work volume, seasonal work). In addition, if a temporary work contract exceeds three months, the employee will be entitled to the same benefits and conditions as permanent employees.
USThere is a growing national trend to prohibit questions about a job applicant’s criminal history on employment applications. These “ban the box” laws currently are primarily targeted at public employers, but there are increasing efforts to impose the same restrictions on private employers. The laws are already in place in six states, as well as various cities and municipalities.
GERMANYOn January 1 2015, a nationwide minimum wage of EUR 8.50 ($11.29 USD) will be introduced. There will be a two year transition period in some sectors, such as construction and nursing, and exceptions apply to interns, apprentices, employees under age 18, and the previously long-term unemployed.
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U.S. Labor Market OverviewFOURTH QUARTER l 2014
SOLID JOB GROWTH CONTINUESThrough the first nine months of 2014, the U.S. economy has added more than two million workers to its payrolls. Monthly job creation has averaged 227,000, outpacing the average of 194,000 per month in 2013 and 186,000 in 2012. Employment growth has been broad-based, led by the professional and business services sector, which has accounted for more than a quarter of jobs created so far this year. Construction and healthcare hiring have also been strong, with each sector adding more than 200,000 new jobs through the first three quarters of 2014.
UNEMPLOYMENT DROPS BELOW 6%The U.S. unemployment rate fell to 5.9% in September, down 1.3 percentage points from the previous year, and the first sub-6% reading since the summer of 2008. Although the ongoing decline in labor force participation is a factor, the unemployment rate is dropping for the right reasons as well: the number of unemployed workers has fallen to a six-year low and overall employment has surpassed its pre-recession peak.
U.S. EMPLOYMENT CONDITIONS
EMPLOYMENT OVERVIEW
13Source: U.S Bureau of Labor Statistics
U.S. MONTHLY EMPLOYMENT CHANGE AND UNEMPLOYMENT RATE
POSITIVE MOMENTUM IN THE LABOR MARKET The U.S. labor market finally looks to be on an upward path. Since the end of the recession, the pace of hiring has continued to accelerate, employment gains have been healthy across diverse industries, and the unemployment rate has shown a steady downward trend. Although some issues persist—including declining labor force participation and slow wage growth—most indicators point to a strengthening employment outlook.
5.56.06.57.07.58.08.5
050
100150200250300350
Sep12
Oct12
Nov12
Dec12
Jan13
Feb13
Mar13
Apr13
May13
Jun13
Jul13
Aug13
Sep13
Oct13
Nov13
Dec13
Jan14
Feb14
Mar14
Apr14
May14
Jun14
Jul14
Aug14
Sep14
Une
mpl
oym
ent R
ate
(%)
Empl
oym
ent (
000s
)
Total non-farm employment growth Unemployment rate
APR MAY JUN JUL AUG SEP
Total non-farm employment growth 304K 229K 267K 243K 180K 248K
Private sector employment growth 278K 228K 260K 239K 175K 236K
Unemployment rate 6.3% 6.3% 6.1% 6.2% 6.1% 5.9%
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U.S. LABOR MARKET: SUPPLY AND DEMAND
14
U.S. MARKET - MONTHLY LABOR DEMAND VS. LABOR SUPPLY
Sources: Conference Board Help Wanted OnLine, Bureau of Labor Statistics
Une
mpl
oyed
Wor
kers
(in th
ousa
nds)
Onl
ine
Job
Ads
(in th
ousa
nds)
SUPPLY/DEMAND RATE ON DOWNWARD TRENDThe U.S. labor market continues to tighten, as the supply/ demand ratio—the number of unemployed workers compared to the number of online job ads—edges down. Despite some month-to-month volatility, online job ads remain above the 5 million mark, and unemployed workers fell to 9.3 million in September. This brought the supply/demand ratio to 1.83 to close the third quarter—its lowest point since the end of 2007.
HIGH TECH, HEALTHCARE SHOW GREATEST JUMP IN DEMANDOver the past three months, the highest growth in job ads was seen in computer and mathematical science occupations, up more than 42,000 ads over the quarter. Healthcare practitioner and technical occupations were also in high demand, with a net increase of 28,000 job ads from July through September.
LABOR MARKETS TIGHTENING IN MIDWESTAmong large metro areas, Chicago saw the biggest improvement in supply/demand ratios over the past year, and Detroit was also among the most improved metros. Minneapolis currently has the lowest supply/demand ratio at 0.96, meaning that job ads there outnumber unemployed workers.
0
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11
Apr 1
1
Jul 1
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11
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2
Jul 1
2
Oct
12
Jan
13
Apr 1
3
Jul 1
3
Oct
13
Jan
14
Apr 1
4
Jul 1
4
# of Unemployed Workers # of Online Job Ads
““Labor demand continues to be at historically high levels with employer demand running at about 5 million ads each month. The overall trend has helped lower unemployment levels.” — Gad Levanon, Director of
Macroeconomics and Labor Markets, The Conference Board
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U.S. LABOR MARKET SPOTLIGHT: TIME TO FILL
15
41%
HIGHER DEMAND, BUT LONGER TO HIREThe good news is that employers are looking to open their doors to more new hires, according to the Bureau of Labor Statistics. There were 4.8 million job openings in August 2014, the highest level since 2001. The bad news – those positions are taking much longer to fill. It now takes more than 26 working days on average to fill a vacant position, according to the Dice-DFH Vacancy Duration Measure. That’s also a 13-year high, and more than 10 days longer than it took at the height of the recession in July 2009, when the average was just over 15 working days to fill a position.
SKILLED WORKERS PARTICULARLY SCARCEThe hiring process is even slower for positions requiring higher skills. According to new research from the Brookings Institution, the average online job ad for STEM-related workers remains posted for 39 days; for STEM workers with advanced degrees, the average online ad vacancy is around 50 days. In terms of occupations, ads for education and health care positions remain posted for the longest times, followed by architecture/engineering, computer/ mathematical, scientific, and management positions.
DRIVERS OF EXTENDED HIRING TIMESIncreasing vacancy durations can be a signal that the labor market is tightening. Another reason for the greater time to hire: employers’ increasing requirements for credentials and screening processes means that it may take longer to find a suitable candidate. In addition, HR departments that were downsized during the recession may have led to larger workloads—and longer timelines—for recruiters. The growing use of social media to target passive candidates, rather than those who are actively looking for a job, can also lengthen the recruiting and hiring process.
Sources: Dice-DFH, Brookings Institution, BLS, Wall Street Journal
0
1
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Job
Ope
ning
s (m
illio
ns)
Vaca
ncy
Dura
tion
(day
s)
VACANCY DURATION AND JOB OPENINGS
Average Vacancy Duration Job Openings
AVERAGE VACANCY DURATION (IN DAYS)
34
42
48
50
39
No educationrequirement
Bachelor'sdegree
Master'sdegree
PhD
All STEM
STEM Occupations by Education Requirement
39
39
39
41
47
54
Management
Life, Physical & Social Science
Computer & Mathematical
Architecture & Engineering
Health Care Practitioner &Technical
Education, Training & Library
Top Occupations
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Workforce Solutions Industry Insight
FOURTH QUARTER l 2014
LABOR MARKET SHIFTS
Significant changes are underway in the global labor market. Recent research by Oxford Economics and SAP has uncovered some of the most critical workforce issues that today’s business leaders face—which differ widely across countries and regions.
17 Source: Workforce 2020, Oxford Economics/SAP
TALENT CHANGES IMPACT WORKFORCE STRATEGYExecutives cite globalization of the labor force and the influx of younger workers as the top issues affecting their talent strategies. The rise of millennial workers is particularly important in APAC markets. The third-ranked issue, difficulty recruiting workers with basic skills, tops the list in many markets, including Canada, Brazil, Mexico, France, and Germany. Interestingly, two of the top issues in the U.S. do not appear among the top seven global talent concerns.
LABOR MARKET SHIFTS WITH GREATEST IMPACTS ON WORKFORCE STRATEGY
Globalization of labor supply
Millennials entering the workforce
Difficulty recruiting employees with base-level skills
Increasing number of intermittent/ seasonal employees
Increasing number of contingent employees
51%
51%
48%
43%
42%
Employee expectations are changing41%
Aging workforce41%
APAC
EMEA
U.S.Difficulty recruiting specialized employees (50%)Employee expectations are changing (47%)Changing work models (e.g., telecommuting, flex time) (42%)
CanadaDifficulty recruiting employees with base level skills (65%)Increasing number of intermittent/ seasonal employees (55%)Globalization of labor supply (53%)
BrazilDifficulty recruiting employees with base level skills (66%)Globalization of labor supply (58%)Increasing number of intermittent/ seasonal employees (56%)
FranceDifficulty recruiting employees with base level skills (69%)Globalization of labor supply (53%)Increasing number of intermittent/ seasonal employees (53%)
GermanyDifficulty recruiting employees with base level skills (59%)Globalization of labor supply (56%)Aging workforce (51%)
U.K.Globalization of labor supply (55%)Difficulty recruiting employees with base level skills (51%)Changing work models (e.g., telecommuting, flex time) (51%)
RussiaMilennials entering the workforce (58%)Aging workforce (40%)Globalization of labor supply (40%)
MexicoDifficulty recruiting employees with base level skills (67%)Increasing number of consultant employees (65%)Globalization of labor supply (56%)
AustraliaMilennials entering the workforce (59%)Increasing number of contingent employees (37%)Increasing number of intermittent/ seasonal employees (37%)
ChinaMilennials entering the workforce (73%)Globalization of labor supply (47%)Increasing number of intermittent/ seasonal employees (36%)
JapanMilennials entering the workforce (65%)Globalization of labor supply (41%)Aging workforce (38%)
IndiaMilennials entering the workforce (66%)Globalization of labor supply (47%)Changing work models (e.g., telecommuting, flex time) (46%)
AMER
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THE TRAINING AND DEVELOPMENT GAP
Empowered employees are looking to take greater control over their careers, and are placing a greater emphasis on the tools and resources that will help them succeed. The findings of the 2014 Kelly Global Workforce Index (KGWI) point to a significant disconnect between workers’ desire for training and development opportunities, and their employers’ ability to deliver.
18 Source: KGWI, 2014
ROOM TO GROWAccording to the KGWI, workers are less than confident about the opportunities that their current employment situation has to offer. Only about a third of all employees globally feel good about their prospects to advance their careers with their current employer; those in the APAC region are most optimistic.
And when it comes to the tools and techniques that are available through their workplace, satisfaction levels are also low. Less than a third of all global workers say that they are satisfied with the type of resources that their employers have to offer in terms of career development. In the EMEA region, only around two in ten workers say that their employers’ career development offerings are satisfactory.
It’s no surprise then, that many employees are looking outside their workplaces for training resources. Around a third of all workers have sought out and paid for training on their own within the last year, with those in the EMEA region most likely to have done so.
AMER31% EMEA
21%
APAC30%
I AM SATISFIED WITH THE CAREER DEVELOPMENT RESOURCES OFFERED BY MY EMPLOYER….
AMER36%
EMEA32%
APAC40%
I HAVE OPPORTUNITIES TO ADVANCE MY CAREER WITH MY CURRENT EMPLOYER….
% agree or strongly agree
% satisfied or very satisfied
48%40%
49%
29%36%
32%
AMER EMEA APAC
Employer-provided Sought out/ paid for on my own
CAREER DEVELOPMENT TRAINING RESOURCES UTILIZED WITHIN THE LAST YEAR….
GLOBAL
35%
GLOBAL
29%
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GLOBAL MOBILITY
Research from the Boston Consulting Group shows that today’s workers are increasingly looking beyond their home countries for opportunities for career and personal development, driven by demographic, economic, cultural, occupational, and other factors.
19 Source: Decoding Global Talent, Boston Consulting Group, October 2014
GermanyRussia
UK US
BelgiumCanada
Italy Sweden
Brazil China
Malaysia
IndiaIndonesiaSingapore
Switzerland
AustraliaFranceMexico
Netherlands
< 50%50%-60%
60%-70%70%-80%
80%+
WILLINGNESS TO WORK ABROAD, SELECTED COUNTRIES
Global average: 64%
42%37% 35% 33%
29% 29% 28% 26% 25% 23%
MOST APPEALING COUNTRIES FOR FOREIGN WORKERSWORKERS WITHOUT BORDERSThe idea of working abroad is more compelling than ever, according to a new survey by the Boston Consulting Group. Nearly two-thirds of global respondents say that they are willing to go to another country to work. Among those most willing to move are people in countries such as France and the Netherlands, where the economic and cultural situations are driving the desire. In contrast, workers in countries such as Germany, the U.K., and U.S. say that economic stability and comforts make them less eager to leave.
The most popular reason for wanting to work abroad is the desire for new experiences—both personal and professional. Financial factors, such as a higher salary or better standard of living, also can play a part, particularly for those in less developed nations.
Language considerations drive the choice of specific locations that workers find appealing. English-speaking countries rank highest on the destinations where people would most like to work, and Asian countries don’t generate as much interest, largely because of the perceived difficulty of learning Asian languages.
53%
54%
55%
56%
58%
59%
65%
65%
For the challenge
Live in a different culture
Better standard of living
Improved salary prospects
Attractive job offer
Better career opportunities
Acquire work experience
Broaden personal experience
REASONS FOR CONSIDERING A FOREIGN WORK ASSIGNMENT
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Kelly offers a complete content library that advances the discussion and thinking around current trends, strategies, and issues impacting global talent management.
To register for webcasts or for more information, visit www.kellyocg.comDownload The Talent Project, a free iPad ® app by Kelly Services.
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AbouT Kelly ServiceS®
Kelly Services, inc. (NASDAQ: KelyA, Kelyb) is a leader in providing workforce solutions. Kelly® offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. Serving clients around the globe, Kelly provided employment to approximately 540,000 employees in 2013. revenue in 2013 was $5.4 billion. visit kellyservices.com and download The Talent Project, a free iPad® app by Kelly Services.
A Kelly ServiceS rePorT
All trademarks are property of their respective owners. An equal opportunity employer © 2014 Kelly Services, inc. Z0868b Kelly Services inc. makes no representation or warranty with respect to the material contained within this report.