adapt to survive: global economy misses out on $150 billion due to talent mismatch
TRANSCRIPT
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Adapt to SurviveGlobal economy misses out on $150 billion
due to talent mismatch
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We set out to ask two key questions
1. Why doesn’t talent always find the right home?
2. How much is this poor alignment costing economies?
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To answer these questions PWC, commissioned by LinkedIn, analyzed two of the most comprehensive
sources of talent data in the world.
PwC’s Saratoga database - more than 2,600 employers across the globe
LinkedIn’s network of 277 million professionals
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4 Key Take Outs
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We set a new benchmark for evaluating a country’s ability to match talent with opportunity
– a Talent Adaptability Score*( and found significant variations in 11 countries )
*Based on five key behavioural factors such as a professional’s industry switching rate and number of positions held.
*Scores are relative (a score of 100 would mean a #1 rank in each of the five variables)
1
CHN
BRASGP
CAN
UK
NLD
DEU
FRAUS
AUS
IND
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What if we were all like the Dutch?The adaptability upside: The benefit that could be achieved if
each country became as adaptable as the Netherlands
2
$16.02b$65.58b
80
70
60
50
40
30
20
10
CHN US
$2.37b$29.34b
$.37b$3.65b
AUS
$0b$3.23b
FRA
$.07b$11.71b
BRA
$.11b$1.86b
CAN
$.38b$8.61b
IND
$.43b$1.44b
UK
$0b$4.92b
DEU
$.06b$.22b $0b
$0b
SGP NLD
*Source: PwC Saratoga
Productivity opportunity
Potential recruitment cost savings
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The total potential for these 11 countries to unlock productivity and save on recruitment costs is huge.
$130 $20better productivity potential recruitment
cost saving
3
billion billion
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Greater visibility leads to better talent fit
of HR Directors say that social recruitment networks have improved their ability to fill vacancies more quickly and effectively
4
69%
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But what can be done about it?
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Professionals _
Employers __
Educators __
Governments
Have a longer-term view of a career, remain open-minded and embrace change.
Seek out, nurture and reward adaptable talent.
Offer courses and job training that produce adaptable people.
Create a climate of adaptability.
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For more information on the findings please go to www.pwc.com/talentadaptability
Adaptable talent Better hiringVisibility+ + = More value