LinkedIn Global Talent Trends 2023: Hiring Continues To Spiral Downwards And It’s Negatively Impacting Employees

LinkedIn is a known name in the world of professional networking, helping millions around the world find the right job. Therefore, when it rolled out its Global Talent Trends Report for this year, there was plenty of anticipation for obvious reasons.

The report proved how global hiring trends continue to spiral downwards and that’s negatively impacting the confidence rates of employees in terms of their careers. It’s a proportional relationship and not one that anyone would want to look forward to.

Furthermore, this report sheds light on how such posts for jobs that include the term AI or Generative AI end up getting better rates in terms of job applications when compared to those that lack such terminology.

That’s when greater emphasis was placed on the efficiency that comes with talent acquisition while putting an eye out there for things like strategies that will help employees retain their current positions.

When looking at a figure featuring a sample of 20 different nations from all over the world, we’re seeing how YoY, the rates of hiring keep on falling. With that said, it’s nice to witness how the decline taking place in 2023 is less than that witnessed in 2022 so there is still some hope that positive effects may take place.

This type of data gets interpreted by the app’s analysis system and is a clear indicator of how employers take upon a cautious means to hire while seeing what is the best method to use and create talent that’s currently on the rise today.

One top-of-the-line digital marketing expert shared through his two-decade-long experience what it really is and feels like to seek a job in today’s time. He unfortunately was also a part of the recent wave of sudden layoffs that firms continue to embark upon to cut off costs.

Todd says that the biggest issue that has to do with hunting for a job at this moment in time is the level of mismatch that arises at the top level when you pair openings with candidates on the rise.

Then you see firing sprees taking place routinely where thousands of applicants jump on the bandwagon to seek a position and make a livelihood. He mentioned how no one really takes the time out to see CVs anymore and if you wish to stand out in a crowd full of people, it’s really hard to do that.

Not only do you require networking that’s solid but you also need all kinds of recommendations too. So yes, people are hiring but they’re being so careful about it and similarly, you’ll find more and more people sticking to the old jobs they have than anything else.

LinkedIn’s report proves how job openings that include the term AI or similar have had 17% growth in job applications over the past couple of years when compared to those that didn’t mention anything of the sort.

LinkedIn also spoke about how those candidates mentioning the term AI in job offerings often tend to be more savvy in nature. This means they wish to go to those places where you’ll find plenty of chances to flourish and hence they’re willing to take the risk to find better opportunities.

This is why the platform is putting out requirements for firms to share a little roadmap of what strategies are in place so they’re in line with today’s market.

Lastly, it was interesting to see how the labor market keeps getting stricter but that does not mean people aren’t willing to seek better job opportunities. The rate at which people are seeking employment has increased when compared to the past two years with the US and UK on the rise.

Read next: ChatGPT Reigns Supreme in Saturated AI Market (Chart)
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