Global Talent Market Quarterly - 2014 Q3
The Global Talent Market Quarterly provides a summary of the current economic and labour market conditions around the world and gives insight into how they might impact you.
The global economy looks set to expand modestly over the short term. However, the healthy outlook is overshadowed by several geopolitical risks, including the crises in Ukraine and the Middle East. Emerging markets, once the powerhouse of the global economy, continue to weather difficulties; many will need to implement structural reforms in order to return to stronger growth. Moderate growth is projected for most developed economies, as the European recovery takes hold and the U.S. expansion gains momentum.
Stable to moderately positive conditions are predicted for major labour markets across the Americas region, led by the more robust hiring trends seen in the U.S. Labour markets in several EMEA economies including the U.K. and Germany have been resilient despite regional tensions and uncertainty, while employment conditions in other major EMEA markets are expected to gradually improve as the recovery in Europe begins to gain traction. Despite economic slowdowns and other political and fiscal issues in key countries across the APAC region, most labor markets have remained relatively buoyant, with positive outlooks dependent on growth in key sectors and absorbing greater workforce participation levels.
And accessing and acquiring talent has become one of the most critical functions of today’s organisations. Many business leaders say that their talent acquisition strategies are falling short – and they are retooling their approaches in order to gain the talent edge. According to Deloitte, 60% of corporate leaders have already updated or are currently updating their talent sourcing strategies, and an additional 27% are considering changes to their talent acquisition processes. Many corporate leaders are interested in harnessing the power of data and ramping up their workforce analytics capabilities in order to better find and manage talent. Online talent communities—interactive forums where individuals who are interested in a company’s job openings can connect with company representatives and other community members—are another up-and-coming strategy in the talent toolkit.