TALENT MANAGEMENT

Labor Force Now More Willing to Work Abroad or Juggle Multiple Jobs

As the economy has globalized over the past 20 years, the movement of labor forces beyond their home nations’ borders has accelerated, according to the report, “Job Seeker Trends 2016: Increasing Global Mobility,” jointly produced by The Boston Consulting Group (BCG) and Recruit Works Institute for the second year running.

The report revealed that 64% were interested in working abroad, while 7% had already moved to a different country to work.

The advance of broadband and new digital technologies has made it much easier for an individual to hold freelance and additional jobs than it was even ten years ago.

When survey respondents already working as freelancers were asked about their current primary style of working, only 32% answered that freelance, self-employment, or company proprietor was their main employment. To the contrary, 68% said their main style of working was as an employee of a company, revealing that the majority had an additional job that earned them a regular salary.

This increasing workforce flexibility poses both opportunities and challenges for companies looking to hire.  It offers alternative sources and methods for acquiring talent, and brings out new possibilities for sharing top talent through the freelance model. Yet it requires companies to be more flexible as they look to hire scarce resources—adjusting their offerings in response to job seekers’ changing needs.

National and local governments, too, should pay attention to these trends when formulating their hiring strategies. This includes taking social issues into account that may arise naturally due to immigration.

The study highlights as well as how critical it is for companies seeking to enhance their competitiveness to be able to attract talent effectively, not only from within their own country, but from other countries.

Internet remains leading job search channel

The report also finds that the internet is taking on greater importance in the search for jobs. In fact, job seekers who do not use the internet at all are now the minority. Although results vary across countries and age groups, 44% of job seekers now believe the internet—including both internet job sites and social networking sites (SNS)—to be the most effective and important means of finding new work.

 

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