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THIRD QUARTER | 2015
CONTENTS
3 Global Economic Situation
6 Global Labor Market Update
• Americas
• EMEA
• APAC
• Global Labor Market Spotlight
• Legislative Update
12 U.S. Labor Market Overview
• Current Employment Conditions
• Supply and Demand
• U.S. Labor Market Spotlight
16 Workforce Solutions Industry Insight
• Bridging Skills Gaps
• The Talent Spectrum
• Connecting with Talent Online
• The Talent Project
THIRD QUARTER | 2015
GLOBAL ECONOMIC OUTLOOK
Despite recoveries in the Eurozone and Japan, and healthy growth in the U.S., global GDP growth is expected to be somewhat
constrained in 2015 as the Chinese economy continues to cool down and several large emerging markets are in recession.
Source: IHS Global Insight (July 2015)4
AMERICAS
Modest growth is expected in North America in
2015—although Canadian GDP growth will be
somewhat subdued. Large South American
countries (Venezuela, Brazil, Argentina) are
battling recessionary conditions.
EMEA
Eurozone economies are gaining momentum and
the U.K. is a bright spot, but the severe crisis in
Russia, and political, military, and economic issues
in the Middle East are restraining regional growth.
APAC
Although GDP growth in the APAC region is
expected to remain at 4.7% in 2015, this stability
masks some variation among key markets. India
and Japan are projected to strengthen, while
economies are slowing in China and Australia.
2.8% 2.6%
3.3%
3.4%
2.1%
1.8%
2.7% 2.7%
1.7% 1.6%
2.2%
2.6%
4.7% 4.7%
5.0% 5.1%
0%
1%
2%
3%
4%
5%
6%
2014 (e) 2015 (p) 2016 (p) 2017 (p)
REAL GDP GROWTH BY REGION, 2014-2017(p)
World Americas EMEA Asia-Pacific
ECONOMIC BRIEFINGS
The divergence among emerging market economies continues to intensify, as India strengthens and conditions worsen in Brazil and
Russia. Most large developed economies are expected to see moderate growth in 2015.
-5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9%
Russia
Brazil
Italy
Japan
France
Canada
Germany
United States
Australia
United Kingdom
China
India
REAL GDP GROWTH RATES, SELECTED MARKETS
Ranked by 2015(p) growth
2014(e)
2015(p)
2016(p)
5
Global GDP Growth
2015(p): 2.6%
Sources: IHS Global Insight (July 2015)
EMERGING MARKETS
 Helped by lower oil and commodity prices, INDIA now leads China in economic
growth, which is expected to reach 7.6% in 2015 and exceed 8% in 2016.
 Growth in CHINA is projected to slow to around 6.5% in the near term, due more
to housing, industry, and debt issues rather than the stock market plunge.
 BRAZILIAN economic conditions continue to deteriorate, amid declines in
consumer spending and business investment, corruption investigations at state-
owned Petrobras, and other mounting political and fiscal crises.
 The already-poor outlook for the RUSSIAN economy is expected to be
exacerbated by the drop in oil prices as well as deeper sanctions.
DEVELOPED ECONOMIES
 Economic fundamentals remain strong in the U.K., driving healthy GDP growth
rates of around 2.6% in 2015 and 2016.
 After a shaky start to the year, the U.S. economy regained some momentum in
the second quarter and looks set for a year of modest growth in 2015.
 In JAPAN, a very strong start to 2015 is expected to slow somewhat in the last
part of the year, but still lead to moderate overall growth.
 Economies in CANADA and AUSTRALIA are seeing some dampening effects from
the downturn in energy sectors and restrained consumer spending.
 Although the situation in GREECE remains uncertain, most EUROZONE markets
are slowly strengthening along with rising business and consumer confidence.
THIRD QUARTER | 2015
GLOBAL LABOR MARKET UPDATE: AMERICAS
Employment gains in North America are expected to be moderate over the near term, but should drive ongoing declines in
unemployment. In the large South American markets, difficult economic conditions are leading to rising unemployment.
Sources: IHS Global Insight (July 2015); Esmerk Latin American News, 07.26.15; Associated Press, 07.23.15
7
UNITED STATES
Job gains in 2015 have slowed compared to 2014, but even the more
moderate hiring trends (along with falling labor force participation) are
causing the unemployment rate to continue to decline.
BRAZIL
Unemployment has risen steadily in Brazil in 2015, reaching a five-year high
in June. The contracting Brazilian economy has led to layoffs, both in the
manufacturing and service sectors.
CANADA
Tepid employment growth is forecast for Canada in 2015, as falling oil prices
and government cost-cutting dampen demand in both the private and public
sectors. The labor market is set to pick up in 2016 and beyond, however.
MEXICO
The unemployment rate in Mexico is expected to show small gains over the
near term, as moderate economic growth creates demand for jobs. Still,
more than 40% of employment is in the informal sector.
6.2%
5.4%
5.1% 5.0%
4.8%
5.9%
5.3% 5.4%
6.9% 6.9% 6.8%
6.6%
4.8%
4.7% 4.5%
4.3%
3%
4%
5%
6%
7%
8%
9%
2014 (e) 2015 (p) 2016 (p) 2017 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
U.S. Brazil Canada Mexico
GLOBAL LABOR MARKET UPDATE: EMEA
The labor market outlook in Europe is improving as economies begin to recover and companies gain confidence. Despite summer data
fluctuations, Germany and the U.K. remain the region’s standout employment markets, while Russia faces significant challenges.
Sources: IHS Global Insight (July 2015); Reuters, 06.18.15, 07.17.15; Wall Street Journal, 07.15.15
8
FRANCE
Unemployment has begun to edge down slowly as the French economy
recovers. Tax credits and payroll tax cuts should help reduce labor costs and
support employment creation going forward.
GERMANY
Despite a small uptick in unemployment in July as graduating students and
trainees entered the workforce, Germany still has one of the most robust
labor markets in Europe, with strong job creation expected to continue.
RUSSIA
Although the unemployment rate has unexpectedly fallen in Russia in recent
months, joblessness is forecast to rise over the near term. Employers also are
putting workers on part-time status, unpaid leave, or cutting wages, which is
not reflected in the headline unemployment figure.
UNITED KINGDOM
The U.K. labor market also continues to outperform many of its European
peers, despite a slight gain in unemployment in the March-to-May period,
driven primarily by part-time workers. Encouragingly, wage gains were the
strongest in more than five years during that same period.
10.3% 10.1%
9.8%
9.5%
6.7%
6.4%
6.1%
5.9%
5.2%
6.2%
6.4%
5.5%
6.2%
5.5%
5.0% 4.9%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
2014 (e) 2015 (p) 2016 (p) 2017 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
France Germany Russia U.K.
GLOBAL LABOR MARKET UPDATE: APAC
Stable job creation trends will keep unemployment rates steady in most major APAC markets in the coming years. In India, pro-
employment legislation and robust economic growth are expected to drive more significant labor market improvements.
Sources: IHS Global Insight (July 2015); BBC Asia Pacific, 07.24.15; SIA Daily News 06.24.15, 07.02.15, 07.10.15
9
AUSTRALIA
Both employment growth and labor force participation are expected to
continue to fluctuate as employers and workers remain cautious, keeping
the unemployment rate elevated through 2016.
CHINA
The job market in China has remained stable, despite concerns over
slowing growth and a plunging stock market. Creating jobs is one of the
major priorities for the Chinese government, which aims to keep the
urban jobless rate below 4.5%.
INDIA
Hiring activity in India is brisk and is expected to remain very robust, with
strength coming from a variety of sectors including banking/finance,
manufacturing, and IT hardware/software.
JAPAN
Steady labor demand and increasing shortages are helping to keep the
unemployment rate low in Japan. Labor market improvements are coming
from increased participation among part-time and female workers.
6.1% 6.2% 6.1%
5.8%
4.1% 4.2% 4.3% 4.2%
8.8%
8.5%
7.9%
7.4%
3.6% 3.4% 3.4%
3.7%
3%
4%
5%
6%
7%
8%
9%
10%
2014 (e) 2015 (p) 2016 (p) 2017 (p)
AVERAGE ANNUAL UNEMPLOYMENT RATE
Australia China India Japan
LABOR MARKET SPOTLIGHT: GLOBAL UNEMPLOYMENT CHALLENGES
Source: Employment Outlook 2015, OECD
10
EMPLOYMENT GAPS REMAIN
According to the OECD’s Employment Outlook 2015, many
developed countries still face challenges in putting people back to
work—and in the short-term, the pace of progress is expected to
be slow. The employment rate—employment as a percent of
population—in OECD countries as a whole stands at 54.4%. This is
still below the rate of 55.8% seen at the end of 2007, and is only
expected to rise marginally to 54.8% by the end of 2016. While a
few markets, such as Germany, now see greater employment rates
than before the recession, 25 of the 34 OECD markets have yet to
regain their pre-crisis employment rates.
LONG-TERM JOBLESSNESS PERSISTS
Long-term unemployment grew significantly in most counties
during the recession, and in many cases, has yet to decline
significantly. In OECD countries on average, 36% of those who are
unemployed (or more than 15 million people) have been out of
work for more than a year—up from 27% in 2007. In some of the
European markets that were hit hardest by the recession, the
long-term jobless still comprise more than half of unemployment.
YOUTH UNEMPLOYMENT EASING SOMEWHAT
Young people have seen some of the greatest negative effects
from the recession, and although job prospects in many countries
are still difficult, their situation is improving. The youth
unemployment rate is just under 15% for the OECD as a whole, up
from 12% in 2007, but down from a peak of over 17% during the
height of the recession. Across countries, only 6 of the 34 OECD
markets now have lower rates of youth unemployment than
before the recession, but all but two have seen youth
unemployment drop from their peak rates.
40%
45%
50%
55%
60%
65%
OECD US Canada UK Germany France Italy Japan Australia
2007 Current 2016p
EMPLOYMENT RATE: OECD and SELECTED COUNTRIES
0%
20%
40%
60%
80%
OECD US Canada UK Germany France Italy Japan Australia
2007 Current
LONG TERM UNEMPLOYMENT (as a % of total unemployed)
0%
10%
20%
30%
40%
50%
OECD US Canada UK Germany France Italy Japan Australia
2007 Peak Current
YOUTH UNEMPLOYMENT RATE
GLOBAL LEGISLATIVE UPDATE
China has tightened its requirements for work visas. India, Japan, and South Africa are all taking different approaches to changing
temporary labor regulations in an attempt to spur job growth. Australia, Mexico, and The Netherlands are enhancing worker protections,
pay, and benefits. And in the U.S., the Affordable Care Act has survived its second Supreme Court challenge, a virtual guarantee that
insurance coverage will continue to expand.
Sources: SIA Daily News; globalemploymentlaw.com
11
UNITED STATES
The Supreme Court upheld the
framework of the Affordable Care
Act (ACA) for the second time in
three years. The 6-to-3 ruling
means that it is all but certain that
the ACA will survive after President
Obama leaves office in 2017.
SOUTH AFRICA
The Employment Services Act (ESA), approved
in April 2014, took effect in July 2015. The act
establishes state-run employment agencies
and places greater controls on private
employment agencies, including mandatory
registration of recruitment agencies and
temporary employment services.
.
THE NETHERLANDS
As of March 1, 2015, all temporary workers
are entitled to parity with equivalent
permanent workers on both pay and working
conditions on day one (versus after 26 weeks
of continuous work).
JAPAN
The House of Representatives has passed a
bill abolishing the current three-year limit
on the use of temporary workers (while
also requiring staffing agencies to provide
training and to work to transition them
into permanent employment). The bill, if
approved by the upper house, may take
effect as soon as September 1, 2015.
INDIA
The labor ministry has proposed merging and
simplifying 40+ labor laws into five, to spur both job
creation and compliance. Resistance from labor unions
led the government to form a committee tasked with
forging consensus among key stakeholders before
drafting a bill to be sent to Parliament. Separately, the
government proposed allowing companies who hire
contract workers for project-based jobs or short-term
assignments to terminate their services without notice
once the project is completed.
CHINA
China has tightened its visa requirements. Employees
working in China on business visas must obtain work and
residence permits once they reach the 90-day threshold.
A new, short-term work visa is required for those
employees sent to China for under 90 days who will be
conducting certain types of activities, including
technical, research, management and supervisory work.
MEXICO
New outsourcing-related regulations
require both contractors and clients to
file detailed quarterly reporting,
including copies of all service provider
agreements. Clients are now also liable
for paying the required contribution to
the national housing fund, in the event
that the contractor fails to pay. In June,
Mexico also formally amended the
Federal Labor Law, adopting the
increase in the legal working age that
was enacted through a constitutional
amendment in 2014.
AUSTRALIA
Australia's national minimum wage
and modern award pay rates (which
vary by industry and type of work and
cover pay rates as well as entitlements
such as allowances) increased by 2.5%
starting July 1, 2015.
THIRD QUARTER | 2015
MODERATE JOB GROWTH IN H1 2015
After a sluggish first quarter to begin 2015, the
pace of hiring ticked up a bit in Q2—but still lags
behind last year’s more robust gains. The
average monthly employment change figure is
208,000 through the first six months of 2015,
well below 2014’s average gain of 260,000. Over
the first half, the U.S. economy has added 1.25
million jobs in 2015, also falling short of the 1.43
new jobs created in the first half of 2014.
UNEMPLOYMENT CONTINUES TO FALL –
SO DOES LABOR FORCE PARTICIPATION
The U.S. unemployment rate has declined by 0.4
percentage points over the first half of 2015 to
reach 5.3%, its lowest level since April 2008.
However, this decrease has been accompanied
by a fall in the labor force participation rate. It
now stands at 62.6%, the lowest rate since
October 1977. Wage growth, which had shown
some signs of acceleration recently, also
stagnated again in June. Average hourly earnings
are still only growing at a 2% pace, compared
with above 3% prior to the recession.
U.S. EMPLOYMENT CONDITIONS
EMPLOYMENT OVERVIEW
13
Source: U.S Bureau of Labor Statistics
U.S. MONTHLY EMPLOYMENT CHANGE AND UNEMPLOYMENT RATE
UNDERLYING EMPLOYMENT DATA SHOW SOME SIGNS OF WEAKNESS
More solid job creation figures in May and June and a slow but steady decline in unemployment suggest that the U.S. labor market is tightening up and
getting ready for acceleration in the second half of the year. But despite the relatively healthy headline figures, there still is some cause for concern as
workers continue to leave the labor force, and employees have yet to see any signs of a strengthening labor market reflected in their pay packages.
5
5.5
6
6.5
7
7.5
8
0
100
200
300
400
500
UnemploymentRate(%)
Employment(000s)
Total non-farm employment growth Unemployment rate
JAN FEB MAR APR MAY JUN
Total non-farm employment growth 201K 266K 119K 187K 254K 223K
Private sector employment growth 202K 261K 117K 189K 250K 223K
Unemployment rate 5.7% 5.5% 5.5% 5.4% 5.5% 5.3%
U.S. LABOR MARKET: SUPPLY AND DEMAND
14
U.S. MONTHLY LABOR DEMAND VS. LABOR SUPPLY
Sources: Conference Board Help Wanted OnLine, Bureau of Labor Statistics
UnemployedWorkers
(inthousands)
OnlineJobAds
(inthousands)
JOB AD LEVELS SHOW SOME VOLATILITY
Labor demand fluctuated during the second quarter of
2015, as employers demonstrated some caution in
their recruiting activity following a shaky economic
performance to start the year. Online job ad levels
have remained relatively flat over the course of the
year, but demand is still high. The supply/demand
ratio, or the number of available workers per online
advertised job vacancy, has fallen to 1.57, compared to
1.84 in June 2014 and a peak of 5.20 in June 2009.
DEMAND FOR WORKERS TIGHTENS ACROSS
MOST MAJOR JOB CATEGORIES, STATES
The labor market for skilled workers remains tight,
with online advertised vacancies outnumbering
unemployed job seekers in a majority of the largest
job categories, including healthcare, computers/
mathematics, management, business/ finance, and
architecture/ engineering. Demand has tightened in
nearly every major job category over the past year,
however, with the greatest supply/demand ratio
changes in office/ administrative support, food
preparation, and transportation. Among states, the
supply/demand ratio has fallen in all but four over the
past year, with ten states now having more online job
ads than unemployed workers.
0
2000
4000
6000
8000
10000
12000
14000
0
2000
4000
6000
8000
10000
12000
14000
# of Unemployed Workers # of Online Job Ads
“Overall employer demand for labor still continues at a very high level.”
— Gad Levanon, Director of Macroeconomics and Labor Markets, The Conference Board
U.S. LABOR MARKET SPOTLIGHT: MANUFACTURING OUTLOOK
15
PRODUCTION CONTINUES TO GAIN STEAM
Although hard-hit by the recession, the U.S. manufacturing sector
continues to rebound. Employment in the sector has grown every
month for nearly two years, and now stands at over 12.3 million
workers. Manufacturing production is expected to expand at a 2.5%
rate in 2015—somewhat sluggish due to factors including poor winter
weather, the West Coast dockworkers labor dispute, declining energy
prices, and currency effects. In 2016, production is projected to pick up
as many of these short-term issues disappear or lessen in importance.
Computer and electronics manufacturing growth is projected to
continue to outpace the sector overall. Other sub-sectors that are at
the beginning of a positive growth trend include pharmaceuticals and
medicine, aerospace manufacturing, and basic chemicals.
Sources: Manufacturers Alliance for Productivity and Innovation, BLS
2.5%
4.7%
2.4%
4.0%
9.1%
3.2%3.1%
8.3%
2.9%
MANUFACTURING
TOTAL
Computer & Electronic
Products
Non High-Tech
Manufacturing
U.S. MANUFACTURING PRODUCTION FORECAST
2015 2016 2017
11.0
11.2
11.4
11.6
11.8
12.0
12.2
12.4
12.6
2010 2011 2012 2013 2014 2015
MILLIONS
U.S. MANUFACTURING EMPLOYMENT
June 2015: 12.3M
January 2010:
11.5M
SELECTED U.S. INDUSTRIAL SECTORS BY PHASE
Accelerating
Growth
Decelerating
Growth
Accelerating
Decline
Decelerating
Decline
• Pharma & Medicine
• Electrical Equipment
• Communications Equipment
• Basic Chemicals
• Aerospace Products
• Motor Vehicles & Parts
• Fabricated Metal Products
• Industrial Machinery
• Construction Machinery
• Semiconductors
• Mining and Oil &
Gas Machinery
• Iron & Steel
Products
• Oil & Gas Well Drilling
THIRD QUARTER | 2015
BRIDGING SKILLS GAPS
According to PwC’s 18th Annual Global CEO Survey, talent sourcing amid growing skills shortages has become one of the most critical
issues facing global business leaders today, driving them to adopt new ways of finding and interacting with top talent.
17 Source: 18th Annual Global CEO Survey, PWC, 2015
SKILLED TALENT BECOMING A HOT COMMODITY
As labor markets around the globe tighten, organizations are
becoming more concerned about the availability of skills in the
workforce. Globally, nearly three-quarters of CEOs today say that
finding the skilled workers they need is a potential threat to their
organization’s growth prospects—compared with just 46% in 2009.
Adding to the challenge is the increasing need for higher level talent
across the globe: 81% of CEOs say that they are looking for a wider
range of skills when hiring than in the past.
This skills gap is leading to a shift in the way organizations are
finding top talent. For example, many leaders say that they are
diversifying their efforts to source increasingly scarce talent. This
includes employing multiple technologies or broadening the search
into different industries or technologies. Other strategies include
using more contingent workers or outsourced functions, providing
continuous learning programs to equip workers with new skills, or
partnering with external organizations in order to fill skills needs.
93% 90% 84% 78% 78% 74% 70% 68% 61% 61% 54% 37%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Global 73%
S K I L L S A V A I L A B I L I T Y I S A K E Y C O N C E R N
81%
Equip employees with
new skills via continuous
learning programs
78%
Use multiple channels to
find talent, including online
platforms/social networks
71%
Actively search for talent in
different industries, geographies,
and/or demographic segments
33%
Have greatly increased reliance
on contractors, part-time
workers, outsourced functions
40%
Collaborate with a wide range
of external organizations to
fill talent needs
THE TALENT SPECTRUM
A holistic and proactive approach to talent acquisition and management can help organizations better address their most pressing
challenges, but many companies lack a clear view into both their traditional and non-traditional employee groups.
18
Source: Total Talent Management: Towards an Integrated Strategy for the Employed and Non-Employed Workforce, SIA/ERE, 2015
COMPREHENSIVE TALENT MANAGEMENT
A new survey from ERE and Staffing Industry Analysts finds that
companies are using a wide variety of non-traditional workers, which
comprise on average around 20% of respondents’ workforces. And
although a majority of organizations say that having a comprehensive
understanding of both their traditional and non-traditional workers is
important or very important, many are falling short in this area—
particularly when it comes to their non-traditional workers. For example,
less than half of companies say they have a good insight into how many
non-traditional workers they have on staff, or what it costs their
company to employ them. And even fewer organizations know how
skilled, productive, or motivated those non-traditional employees are.
U S A G E O F N O N - T R A D I T I O N A L E M P L O Y E E S
5%
6%
14%
27%
45%
54%
62%
62%
Informal Volunteers
Online Workers
Formal Volunteers
Partners
Outsourced Services
Professional Services
IC/ Freelancers
Temporary Workers
34%
46%
46%
69%
71%
73%
78%
17%
28%
33%
39%
49%
49%
49%
Level of Motivation
Skills Deployed
Level of Productivity
Tenure
Total Labor Costs
Number of Open Positions
Number of Workers
Non-Traditional
Employees
Traditional
Employees
C O M P A N I E S W I T H A G O O D / V E R Y G O O D V I E W O F :
5% 14% 27% 42% 12%
P E R C E I V E D L E V E L O F I M P O R T A N C E O F A N
U N D E R S T A N D I N G O F T H E T O T A L W O R K F O R C E
( T r a d i t i o n a l a n d N o n - T r a d i t i o n a l E m p l o y e e s )
•Professional services - people in firms other than the organization, such as managementconsultants, lawyers, engineeringservices, etc that are mostly retained for specified projects or periods of time or hired under a statement of work. Outsourced services - people in firms other than the
organization, such as security guards, maintenance, etc. (mostly retained for ongoing operationalwork). Partners include people working within the supply chain, partnerships, joint ventures, etc. Online workers - sourced from online staffing platforms performingremote freelance projects,
or micro-tasks, or crowdsourced work. Informal volunteers include customers via self-service, users contributingcontent/code, etc.
3.9%
3.3%
2.5% 2.4% 2.3% 2.3%
2.0% 2.0% 1.9% 1.7% 1.5% 1.5%
S.Africa
Spain
Russia
Brazil
U.S.
France
Canada
U.K.
India
Germany
China
Japan
CONNECTING WITH TALENT ONLINE
Online talent platforms continue to transform the way that employers and workers communicate, providing new channels to connect
individuals with work opportunities. A new report by McKinsey suggests that these tools may generate wide-ranging benefits.
19 Source: A Labor Market That Works: Connecting Talent With Opportunity In The Digital Age, McKinsey, 2015
TALENT MATCHMAKING TOOLS
McKinsey identifies online talent platforms as marketplaces and tools—
including apps and websites—that help connect individuals to the right
work opportunities. The largest group currently are those that match
workers with traditional jobs, such as LinkedIn or job boards like Monster or
CareerBuilder. A second category which has seen rapid growth in recent
years are platforms that connect freelance or contingent workers with
projects or tasks. And other platforms equip workers and employers with
data and insights that facilitate job decisions and talent evaluation.
These talent tools are a critical ingredient in helping to bridge the
disconnect between workers and jobs. McKinsey estimates that these
platforms have the potential to increase global GDP by $2.7 trillion by 2025
and benefit more than 500 million workers, by increasing labor force
participation, raising productivity, and providing better and more efficient
matching of talent and available jobs. Countries with persistently high
unemployment and low participation stand to benefit the most.
230m 200m 60m 50m
Shorten search times between jobs
More hours for inactive/part-time workers
Find work that better suits skills
Shift from informal to formal work
5 4 0 M I L L I O N W O R K E R S
G L O B A L L Y C O U L D B E N E F I T
P O T E N T I A L G D P I M P A C T V A R I E S
A C R O S S M A R K E T S
Match people with
traditional jobs
Facilitate contingent work,
freelance projects or tasks
Evaluate, optimize, and/or
manage talent
LinkedIn
CareerBuilder
Monster
Indeed
Viadeo
Xing
Uber
Angie’s List
TaskRabbit
Upwork
Good.co
PayScale
Pymetrics
ReviewSnap
O N L I N E T A L E N T T O O L S
(Defined by McKinsey)
0.9%
0.6%
0.5%
GDP Increase
Higher
Productivity
Reduced
Unemployment
Higher
Participation
G L O B A L G D P C O U L D
G R O W B Y 2 % ( $ 2 . 7 T )
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.com
Download The Talent Project, a free iPad ® app by Kelly Services.
TITLE PRESENTED BY: DESCRIPTION
Unlocking the Value of
the Top Suppliers
Tom Tisdale
VP, Talent Supply Chain Analytics, KellyOCG
Global Centers of Excellence
Read this e-book to learn how using tools such as KellyOCG’s
talent supply chain analytics can lead to actionable insights,
enabling you to make the big decisions in optimizing your
talent supply chain.
The Growing Demand for
Niche Skills: High Tech
Steven Scott
VP, Global Solutions, High Tech Vertical
Client Lead, Kelly OCG
The high tech industry is complex, with workforce
requirements that fluctuate regularly and new technologies
causing companies to seek out talent with specific expertise.
Find out how companies are finding innovative and
competitive ways to look for the high tech talent they need.
Building Strategic
Workforce Capability
Susan Defazio
Principal and Supervising Consultant,
KellyOCG Global Centers of Excellence
Strategic Workforce Planning (SWP) is the practice of
aligning workforce resources with strategic priorities. This
whitepaper outlines four key steps to take in establishing
SWP and turning it into tangible outcomes within an
organization.
20
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Q3 2015 Talent Market Quarterly

  • 2. CONTENTS 3 Global Economic Situation 6 Global Labor Market Update • Americas • EMEA • APAC • Global Labor Market Spotlight • Legislative Update 12 U.S. Labor Market Overview • Current Employment Conditions • Supply and Demand • U.S. Labor Market Spotlight 16 Workforce Solutions Industry Insight • Bridging Skills Gaps • The Talent Spectrum • Connecting with Talent Online • The Talent Project
  • 4. GLOBAL ECONOMIC OUTLOOK Despite recoveries in the Eurozone and Japan, and healthy growth in the U.S., global GDP growth is expected to be somewhat constrained in 2015 as the Chinese economy continues to cool down and several large emerging markets are in recession. Source: IHS Global Insight (July 2015)4 AMERICAS Modest growth is expected in North America in 2015—although Canadian GDP growth will be somewhat subdued. Large South American countries (Venezuela, Brazil, Argentina) are battling recessionary conditions. EMEA Eurozone economies are gaining momentum and the U.K. is a bright spot, but the severe crisis in Russia, and political, military, and economic issues in the Middle East are restraining regional growth. APAC Although GDP growth in the APAC region is expected to remain at 4.7% in 2015, this stability masks some variation among key markets. India and Japan are projected to strengthen, while economies are slowing in China and Australia. 2.8% 2.6% 3.3% 3.4% 2.1% 1.8% 2.7% 2.7% 1.7% 1.6% 2.2% 2.6% 4.7% 4.7% 5.0% 5.1% 0% 1% 2% 3% 4% 5% 6% 2014 (e) 2015 (p) 2016 (p) 2017 (p) REAL GDP GROWTH BY REGION, 2014-2017(p) World Americas EMEA Asia-Pacific
  • 5. ECONOMIC BRIEFINGS The divergence among emerging market economies continues to intensify, as India strengthens and conditions worsen in Brazil and Russia. Most large developed economies are expected to see moderate growth in 2015. -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% Russia Brazil Italy Japan France Canada Germany United States Australia United Kingdom China India REAL GDP GROWTH RATES, SELECTED MARKETS Ranked by 2015(p) growth 2014(e) 2015(p) 2016(p) 5 Global GDP Growth 2015(p): 2.6% Sources: IHS Global Insight (July 2015) EMERGING MARKETS  Helped by lower oil and commodity prices, INDIA now leads China in economic growth, which is expected to reach 7.6% in 2015 and exceed 8% in 2016.  Growth in CHINA is projected to slow to around 6.5% in the near term, due more to housing, industry, and debt issues rather than the stock market plunge.  BRAZILIAN economic conditions continue to deteriorate, amid declines in consumer spending and business investment, corruption investigations at state- owned Petrobras, and other mounting political and fiscal crises.  The already-poor outlook for the RUSSIAN economy is expected to be exacerbated by the drop in oil prices as well as deeper sanctions. DEVELOPED ECONOMIES  Economic fundamentals remain strong in the U.K., driving healthy GDP growth rates of around 2.6% in 2015 and 2016.  After a shaky start to the year, the U.S. economy regained some momentum in the second quarter and looks set for a year of modest growth in 2015.  In JAPAN, a very strong start to 2015 is expected to slow somewhat in the last part of the year, but still lead to moderate overall growth.  Economies in CANADA and AUSTRALIA are seeing some dampening effects from the downturn in energy sectors and restrained consumer spending.  Although the situation in GREECE remains uncertain, most EUROZONE markets are slowly strengthening along with rising business and consumer confidence.
  • 7. GLOBAL LABOR MARKET UPDATE: AMERICAS Employment gains in North America are expected to be moderate over the near term, but should drive ongoing declines in unemployment. In the large South American markets, difficult economic conditions are leading to rising unemployment. Sources: IHS Global Insight (July 2015); Esmerk Latin American News, 07.26.15; Associated Press, 07.23.15 7 UNITED STATES Job gains in 2015 have slowed compared to 2014, but even the more moderate hiring trends (along with falling labor force participation) are causing the unemployment rate to continue to decline. BRAZIL Unemployment has risen steadily in Brazil in 2015, reaching a five-year high in June. The contracting Brazilian economy has led to layoffs, both in the manufacturing and service sectors. CANADA Tepid employment growth is forecast for Canada in 2015, as falling oil prices and government cost-cutting dampen demand in both the private and public sectors. The labor market is set to pick up in 2016 and beyond, however. MEXICO The unemployment rate in Mexico is expected to show small gains over the near term, as moderate economic growth creates demand for jobs. Still, more than 40% of employment is in the informal sector. 6.2% 5.4% 5.1% 5.0% 4.8% 5.9% 5.3% 5.4% 6.9% 6.9% 6.8% 6.6% 4.8% 4.7% 4.5% 4.3% 3% 4% 5% 6% 7% 8% 9% 2014 (e) 2015 (p) 2016 (p) 2017 (p) AVERAGE ANNUAL UNEMPLOYMENT RATE U.S. Brazil Canada Mexico
  • 8. GLOBAL LABOR MARKET UPDATE: EMEA The labor market outlook in Europe is improving as economies begin to recover and companies gain confidence. Despite summer data fluctuations, Germany and the U.K. remain the region’s standout employment markets, while Russia faces significant challenges. Sources: IHS Global Insight (July 2015); Reuters, 06.18.15, 07.17.15; Wall Street Journal, 07.15.15 8 FRANCE Unemployment has begun to edge down slowly as the French economy recovers. Tax credits and payroll tax cuts should help reduce labor costs and support employment creation going forward. GERMANY Despite a small uptick in unemployment in July as graduating students and trainees entered the workforce, Germany still has one of the most robust labor markets in Europe, with strong job creation expected to continue. RUSSIA Although the unemployment rate has unexpectedly fallen in Russia in recent months, joblessness is forecast to rise over the near term. Employers also are putting workers on part-time status, unpaid leave, or cutting wages, which is not reflected in the headline unemployment figure. UNITED KINGDOM The U.K. labor market also continues to outperform many of its European peers, despite a slight gain in unemployment in the March-to-May period, driven primarily by part-time workers. Encouragingly, wage gains were the strongest in more than five years during that same period. 10.3% 10.1% 9.8% 9.5% 6.7% 6.4% 6.1% 5.9% 5.2% 6.2% 6.4% 5.5% 6.2% 5.5% 5.0% 4.9% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 2014 (e) 2015 (p) 2016 (p) 2017 (p) AVERAGE ANNUAL UNEMPLOYMENT RATE France Germany Russia U.K.
  • 9. GLOBAL LABOR MARKET UPDATE: APAC Stable job creation trends will keep unemployment rates steady in most major APAC markets in the coming years. In India, pro- employment legislation and robust economic growth are expected to drive more significant labor market improvements. Sources: IHS Global Insight (July 2015); BBC Asia Pacific, 07.24.15; SIA Daily News 06.24.15, 07.02.15, 07.10.15 9 AUSTRALIA Both employment growth and labor force participation are expected to continue to fluctuate as employers and workers remain cautious, keeping the unemployment rate elevated through 2016. CHINA The job market in China has remained stable, despite concerns over slowing growth and a plunging stock market. Creating jobs is one of the major priorities for the Chinese government, which aims to keep the urban jobless rate below 4.5%. INDIA Hiring activity in India is brisk and is expected to remain very robust, with strength coming from a variety of sectors including banking/finance, manufacturing, and IT hardware/software. JAPAN Steady labor demand and increasing shortages are helping to keep the unemployment rate low in Japan. Labor market improvements are coming from increased participation among part-time and female workers. 6.1% 6.2% 6.1% 5.8% 4.1% 4.2% 4.3% 4.2% 8.8% 8.5% 7.9% 7.4% 3.6% 3.4% 3.4% 3.7% 3% 4% 5% 6% 7% 8% 9% 10% 2014 (e) 2015 (p) 2016 (p) 2017 (p) AVERAGE ANNUAL UNEMPLOYMENT RATE Australia China India Japan
  • 10. LABOR MARKET SPOTLIGHT: GLOBAL UNEMPLOYMENT CHALLENGES Source: Employment Outlook 2015, OECD 10 EMPLOYMENT GAPS REMAIN According to the OECD’s Employment Outlook 2015, many developed countries still face challenges in putting people back to work—and in the short-term, the pace of progress is expected to be slow. The employment rate—employment as a percent of population—in OECD countries as a whole stands at 54.4%. This is still below the rate of 55.8% seen at the end of 2007, and is only expected to rise marginally to 54.8% by the end of 2016. While a few markets, such as Germany, now see greater employment rates than before the recession, 25 of the 34 OECD markets have yet to regain their pre-crisis employment rates. LONG-TERM JOBLESSNESS PERSISTS Long-term unemployment grew significantly in most counties during the recession, and in many cases, has yet to decline significantly. In OECD countries on average, 36% of those who are unemployed (or more than 15 million people) have been out of work for more than a year—up from 27% in 2007. In some of the European markets that were hit hardest by the recession, the long-term jobless still comprise more than half of unemployment. YOUTH UNEMPLOYMENT EASING SOMEWHAT Young people have seen some of the greatest negative effects from the recession, and although job prospects in many countries are still difficult, their situation is improving. The youth unemployment rate is just under 15% for the OECD as a whole, up from 12% in 2007, but down from a peak of over 17% during the height of the recession. Across countries, only 6 of the 34 OECD markets now have lower rates of youth unemployment than before the recession, but all but two have seen youth unemployment drop from their peak rates. 40% 45% 50% 55% 60% 65% OECD US Canada UK Germany France Italy Japan Australia 2007 Current 2016p EMPLOYMENT RATE: OECD and SELECTED COUNTRIES 0% 20% 40% 60% 80% OECD US Canada UK Germany France Italy Japan Australia 2007 Current LONG TERM UNEMPLOYMENT (as a % of total unemployed) 0% 10% 20% 30% 40% 50% OECD US Canada UK Germany France Italy Japan Australia 2007 Peak Current YOUTH UNEMPLOYMENT RATE
  • 11. GLOBAL LEGISLATIVE UPDATE China has tightened its requirements for work visas. India, Japan, and South Africa are all taking different approaches to changing temporary labor regulations in an attempt to spur job growth. Australia, Mexico, and The Netherlands are enhancing worker protections, pay, and benefits. And in the U.S., the Affordable Care Act has survived its second Supreme Court challenge, a virtual guarantee that insurance coverage will continue to expand. Sources: SIA Daily News; globalemploymentlaw.com 11 UNITED STATES The Supreme Court upheld the framework of the Affordable Care Act (ACA) for the second time in three years. The 6-to-3 ruling means that it is all but certain that the ACA will survive after President Obama leaves office in 2017. SOUTH AFRICA The Employment Services Act (ESA), approved in April 2014, took effect in July 2015. The act establishes state-run employment agencies and places greater controls on private employment agencies, including mandatory registration of recruitment agencies and temporary employment services. . THE NETHERLANDS As of March 1, 2015, all temporary workers are entitled to parity with equivalent permanent workers on both pay and working conditions on day one (versus after 26 weeks of continuous work). JAPAN The House of Representatives has passed a bill abolishing the current three-year limit on the use of temporary workers (while also requiring staffing agencies to provide training and to work to transition them into permanent employment). The bill, if approved by the upper house, may take effect as soon as September 1, 2015. INDIA The labor ministry has proposed merging and simplifying 40+ labor laws into five, to spur both job creation and compliance. Resistance from labor unions led the government to form a committee tasked with forging consensus among key stakeholders before drafting a bill to be sent to Parliament. Separately, the government proposed allowing companies who hire contract workers for project-based jobs or short-term assignments to terminate their services without notice once the project is completed. CHINA China has tightened its visa requirements. Employees working in China on business visas must obtain work and residence permits once they reach the 90-day threshold. A new, short-term work visa is required for those employees sent to China for under 90 days who will be conducting certain types of activities, including technical, research, management and supervisory work. MEXICO New outsourcing-related regulations require both contractors and clients to file detailed quarterly reporting, including copies of all service provider agreements. Clients are now also liable for paying the required contribution to the national housing fund, in the event that the contractor fails to pay. In June, Mexico also formally amended the Federal Labor Law, adopting the increase in the legal working age that was enacted through a constitutional amendment in 2014. AUSTRALIA Australia's national minimum wage and modern award pay rates (which vary by industry and type of work and cover pay rates as well as entitlements such as allowances) increased by 2.5% starting July 1, 2015.
  • 13. MODERATE JOB GROWTH IN H1 2015 After a sluggish first quarter to begin 2015, the pace of hiring ticked up a bit in Q2—but still lags behind last year’s more robust gains. The average monthly employment change figure is 208,000 through the first six months of 2015, well below 2014’s average gain of 260,000. Over the first half, the U.S. economy has added 1.25 million jobs in 2015, also falling short of the 1.43 new jobs created in the first half of 2014. UNEMPLOYMENT CONTINUES TO FALL – SO DOES LABOR FORCE PARTICIPATION The U.S. unemployment rate has declined by 0.4 percentage points over the first half of 2015 to reach 5.3%, its lowest level since April 2008. However, this decrease has been accompanied by a fall in the labor force participation rate. It now stands at 62.6%, the lowest rate since October 1977. Wage growth, which had shown some signs of acceleration recently, also stagnated again in June. Average hourly earnings are still only growing at a 2% pace, compared with above 3% prior to the recession. U.S. EMPLOYMENT CONDITIONS EMPLOYMENT OVERVIEW 13 Source: U.S Bureau of Labor Statistics U.S. MONTHLY EMPLOYMENT CHANGE AND UNEMPLOYMENT RATE UNDERLYING EMPLOYMENT DATA SHOW SOME SIGNS OF WEAKNESS More solid job creation figures in May and June and a slow but steady decline in unemployment suggest that the U.S. labor market is tightening up and getting ready for acceleration in the second half of the year. But despite the relatively healthy headline figures, there still is some cause for concern as workers continue to leave the labor force, and employees have yet to see any signs of a strengthening labor market reflected in their pay packages. 5 5.5 6 6.5 7 7.5 8 0 100 200 300 400 500 UnemploymentRate(%) Employment(000s) Total non-farm employment growth Unemployment rate JAN FEB MAR APR MAY JUN Total non-farm employment growth 201K 266K 119K 187K 254K 223K Private sector employment growth 202K 261K 117K 189K 250K 223K Unemployment rate 5.7% 5.5% 5.5% 5.4% 5.5% 5.3%
  • 14. U.S. LABOR MARKET: SUPPLY AND DEMAND 14 U.S. MONTHLY LABOR DEMAND VS. LABOR SUPPLY Sources: Conference Board Help Wanted OnLine, Bureau of Labor Statistics UnemployedWorkers (inthousands) OnlineJobAds (inthousands) JOB AD LEVELS SHOW SOME VOLATILITY Labor demand fluctuated during the second quarter of 2015, as employers demonstrated some caution in their recruiting activity following a shaky economic performance to start the year. Online job ad levels have remained relatively flat over the course of the year, but demand is still high. The supply/demand ratio, or the number of available workers per online advertised job vacancy, has fallen to 1.57, compared to 1.84 in June 2014 and a peak of 5.20 in June 2009. DEMAND FOR WORKERS TIGHTENS ACROSS MOST MAJOR JOB CATEGORIES, STATES The labor market for skilled workers remains tight, with online advertised vacancies outnumbering unemployed job seekers in a majority of the largest job categories, including healthcare, computers/ mathematics, management, business/ finance, and architecture/ engineering. Demand has tightened in nearly every major job category over the past year, however, with the greatest supply/demand ratio changes in office/ administrative support, food preparation, and transportation. Among states, the supply/demand ratio has fallen in all but four over the past year, with ten states now having more online job ads than unemployed workers. 0 2000 4000 6000 8000 10000 12000 14000 0 2000 4000 6000 8000 10000 12000 14000 # of Unemployed Workers # of Online Job Ads “Overall employer demand for labor still continues at a very high level.” — Gad Levanon, Director of Macroeconomics and Labor Markets, The Conference Board
  • 15. U.S. LABOR MARKET SPOTLIGHT: MANUFACTURING OUTLOOK 15 PRODUCTION CONTINUES TO GAIN STEAM Although hard-hit by the recession, the U.S. manufacturing sector continues to rebound. Employment in the sector has grown every month for nearly two years, and now stands at over 12.3 million workers. Manufacturing production is expected to expand at a 2.5% rate in 2015—somewhat sluggish due to factors including poor winter weather, the West Coast dockworkers labor dispute, declining energy prices, and currency effects. In 2016, production is projected to pick up as many of these short-term issues disappear or lessen in importance. Computer and electronics manufacturing growth is projected to continue to outpace the sector overall. Other sub-sectors that are at the beginning of a positive growth trend include pharmaceuticals and medicine, aerospace manufacturing, and basic chemicals. Sources: Manufacturers Alliance for Productivity and Innovation, BLS 2.5% 4.7% 2.4% 4.0% 9.1% 3.2%3.1% 8.3% 2.9% MANUFACTURING TOTAL Computer & Electronic Products Non High-Tech Manufacturing U.S. MANUFACTURING PRODUCTION FORECAST 2015 2016 2017 11.0 11.2 11.4 11.6 11.8 12.0 12.2 12.4 12.6 2010 2011 2012 2013 2014 2015 MILLIONS U.S. MANUFACTURING EMPLOYMENT June 2015: 12.3M January 2010: 11.5M SELECTED U.S. INDUSTRIAL SECTORS BY PHASE Accelerating Growth Decelerating Growth Accelerating Decline Decelerating Decline • Pharma & Medicine • Electrical Equipment • Communications Equipment • Basic Chemicals • Aerospace Products • Motor Vehicles & Parts • Fabricated Metal Products • Industrial Machinery • Construction Machinery • Semiconductors • Mining and Oil & Gas Machinery • Iron & Steel Products • Oil & Gas Well Drilling
  • 17. BRIDGING SKILLS GAPS According to PwC’s 18th Annual Global CEO Survey, talent sourcing amid growing skills shortages has become one of the most critical issues facing global business leaders today, driving them to adopt new ways of finding and interacting with top talent. 17 Source: 18th Annual Global CEO Survey, PWC, 2015 SKILLED TALENT BECOMING A HOT COMMODITY As labor markets around the globe tighten, organizations are becoming more concerned about the availability of skills in the workforce. Globally, nearly three-quarters of CEOs today say that finding the skilled workers they need is a potential threat to their organization’s growth prospects—compared with just 46% in 2009. Adding to the challenge is the increasing need for higher level talent across the globe: 81% of CEOs say that they are looking for a wider range of skills when hiring than in the past. This skills gap is leading to a shift in the way organizations are finding top talent. For example, many leaders say that they are diversifying their efforts to source increasingly scarce talent. This includes employing multiple technologies or broadening the search into different industries or technologies. Other strategies include using more contingent workers or outsourced functions, providing continuous learning programs to equip workers with new skills, or partnering with external organizations in order to fill skills needs. 93% 90% 84% 78% 78% 74% 70% 68% 61% 61% 54% 37% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Global 73% S K I L L S A V A I L A B I L I T Y I S A K E Y C O N C E R N 81% Equip employees with new skills via continuous learning programs 78% Use multiple channels to find talent, including online platforms/social networks 71% Actively search for talent in different industries, geographies, and/or demographic segments 33% Have greatly increased reliance on contractors, part-time workers, outsourced functions 40% Collaborate with a wide range of external organizations to fill talent needs
  • 18. THE TALENT SPECTRUM A holistic and proactive approach to talent acquisition and management can help organizations better address their most pressing challenges, but many companies lack a clear view into both their traditional and non-traditional employee groups. 18 Source: Total Talent Management: Towards an Integrated Strategy for the Employed and Non-Employed Workforce, SIA/ERE, 2015 COMPREHENSIVE TALENT MANAGEMENT A new survey from ERE and Staffing Industry Analysts finds that companies are using a wide variety of non-traditional workers, which comprise on average around 20% of respondents’ workforces. And although a majority of organizations say that having a comprehensive understanding of both their traditional and non-traditional workers is important or very important, many are falling short in this area— particularly when it comes to their non-traditional workers. For example, less than half of companies say they have a good insight into how many non-traditional workers they have on staff, or what it costs their company to employ them. And even fewer organizations know how skilled, productive, or motivated those non-traditional employees are. U S A G E O F N O N - T R A D I T I O N A L E M P L O Y E E S 5% 6% 14% 27% 45% 54% 62% 62% Informal Volunteers Online Workers Formal Volunteers Partners Outsourced Services Professional Services IC/ Freelancers Temporary Workers 34% 46% 46% 69% 71% 73% 78% 17% 28% 33% 39% 49% 49% 49% Level of Motivation Skills Deployed Level of Productivity Tenure Total Labor Costs Number of Open Positions Number of Workers Non-Traditional Employees Traditional Employees C O M P A N I E S W I T H A G O O D / V E R Y G O O D V I E W O F : 5% 14% 27% 42% 12% P E R C E I V E D L E V E L O F I M P O R T A N C E O F A N U N D E R S T A N D I N G O F T H E T O T A L W O R K F O R C E ( T r a d i t i o n a l a n d N o n - T r a d i t i o n a l E m p l o y e e s ) •Professional services - people in firms other than the organization, such as managementconsultants, lawyers, engineeringservices, etc that are mostly retained for specified projects or periods of time or hired under a statement of work. Outsourced services - people in firms other than the organization, such as security guards, maintenance, etc. (mostly retained for ongoing operationalwork). Partners include people working within the supply chain, partnerships, joint ventures, etc. Online workers - sourced from online staffing platforms performingremote freelance projects, or micro-tasks, or crowdsourced work. Informal volunteers include customers via self-service, users contributingcontent/code, etc.
  • 19. 3.9% 3.3% 2.5% 2.4% 2.3% 2.3% 2.0% 2.0% 1.9% 1.7% 1.5% 1.5% S.Africa Spain Russia Brazil U.S. France Canada U.K. India Germany China Japan CONNECTING WITH TALENT ONLINE Online talent platforms continue to transform the way that employers and workers communicate, providing new channels to connect individuals with work opportunities. A new report by McKinsey suggests that these tools may generate wide-ranging benefits. 19 Source: A Labor Market That Works: Connecting Talent With Opportunity In The Digital Age, McKinsey, 2015 TALENT MATCHMAKING TOOLS McKinsey identifies online talent platforms as marketplaces and tools— including apps and websites—that help connect individuals to the right work opportunities. The largest group currently are those that match workers with traditional jobs, such as LinkedIn or job boards like Monster or CareerBuilder. A second category which has seen rapid growth in recent years are platforms that connect freelance or contingent workers with projects or tasks. And other platforms equip workers and employers with data and insights that facilitate job decisions and talent evaluation. These talent tools are a critical ingredient in helping to bridge the disconnect between workers and jobs. McKinsey estimates that these platforms have the potential to increase global GDP by $2.7 trillion by 2025 and benefit more than 500 million workers, by increasing labor force participation, raising productivity, and providing better and more efficient matching of talent and available jobs. Countries with persistently high unemployment and low participation stand to benefit the most. 230m 200m 60m 50m Shorten search times between jobs More hours for inactive/part-time workers Find work that better suits skills Shift from informal to formal work 5 4 0 M I L L I O N W O R K E R S G L O B A L L Y C O U L D B E N E F I T P O T E N T I A L G D P I M P A C T V A R I E S A C R O S S M A R K E T S Match people with traditional jobs Facilitate contingent work, freelance projects or tasks Evaluate, optimize, and/or manage talent LinkedIn CareerBuilder Monster Indeed Viadeo Xing Uber Angie’s List TaskRabbit Upwork Good.co PayScale Pymetrics ReviewSnap O N L I N E T A L E N T T O O L S (Defined by McKinsey) 0.9% 0.6% 0.5% GDP Increase Higher Productivity Reduced Unemployment Higher Participation G L O B A L G D P C O U L D G R O W B Y 2 % ( $ 2 . 7 T )
  • 20. 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.com Download The Talent Project, a free iPad ® app by Kelly Services. TITLE PRESENTED BY: DESCRIPTION Unlocking the Value of the Top Suppliers Tom Tisdale VP, Talent Supply Chain Analytics, KellyOCG Global Centers of Excellence Read this e-book to learn how using tools such as KellyOCG’s talent supply chain analytics can lead to actionable insights, enabling you to make the big decisions in optimizing your talent supply chain. The Growing Demand for Niche Skills: High Tech Steven Scott VP, Global Solutions, High Tech Vertical Client Lead, Kelly OCG The high tech industry is complex, with workforce requirements that fluctuate regularly and new technologies causing companies to seek out talent with specific expertise. Find out how companies are finding innovative and competitive ways to look for the high tech talent they need. Building Strategic Workforce Capability Susan Defazio Principal and Supervising Consultant, KellyOCG Global Centers of Excellence Strategic Workforce Planning (SWP) is the practice of aligning workforce resources with strategic priorities. This whitepaper outlines four key steps to take in establishing SWP and turning it into tangible outcomes within an organization. 20
  • 21. Kelly Services Inc. makes no representation or warranty with respect to the materialcontained within this report.