Global Talent Playbook

What is workforce intelligence –
and how are companies improving theirs?

The talent landscape is constantly shifting. Employees are influenced by environmental factors like cost of living increases and climate change and internal factors like preferred work style and work-life balance when evaluating their careers. How can employers stay competitive? Workforce intelligence is a data-driven talent management strategy that incorporates the latest global workforce trends, labor market data, and job seeker preferences to help employers best serve their organizations.

We’ve analyzed the most relevant labor market data to discover what’s new in hiring and retention, and gathered insights from leading employers to help guide your talent strategy in 2023 with intention. This report explores the latest workforce trends like how AI will impact jobs, green jobs and sustainability, and remote work.

Use the Global Talent Playbook and all the latest Lightcast research to update your recruitment and training programs and build an organization where your employees can thrive.

Skills

Skills are becoming more valuable than degrees

The global labor shortage has impacted hiring trends, and employers are radically changing how they evaluate candidates. Overall, we’re seeing companies prioritize skills over degrees, and they’re looking around the world to find the right individual for the role. In-demand skills are skewing hyper-specialized, and employers are looking for talent with expertise on platforms like TikTok and Figma. In 2023, we expect to see more employers hiring based on skills and outsourcing to consultants.

Wage Transparency

Salary transparency laws are making the workforce more equitable and helping close wage gaps

New York City and Colorado now require employers to advertise their job salary ranges, and more and more companies are following suit. Employers are including wages in job postings over 2X more than in 2017. Additionally, wages are rising on the whole. In 2022, wages grew significantly for a few groups — those in lower wage roles and non-white employees — are wage gaps showing signs of closing? This year, employers need to evaluate their compensation strategy, build equitable recruiting and training programs, and prioritize transparency in the hiring process. Wage growth tracker by wage level 12-month moving average of median wage growth for each category, hourly data

Employee Benefits

Long-term benefits like tuition assistance are growing faster than shorter term benefits

Developing employee skills, and providing great benefits, is key to attracting and retaining top talent. Flashy sign-on bonuses are no longer enough to bring interest. Employees at all levels seem to want more practical perks, particularly during uncertain economic times. When was the last time you looked at your compensation and benefit packages, and benchmarked what you offer against the current trends? Explore the report for more data on short and long-term benefits to see how your company stacks up against your competitors.

Artificial Intelligence (AI) Jobs

AI is adding jobs, not taking them away

Now that AI is becoming as ubiquitous as automation or software, the questions on everyone’s mind are, “How will AI affect my role?”, and “Will AI take over jobs?”, and“Will I have to learn how to program robots to ensure job security?” The latest research on AI jobs and their impact on the labor market in the report may surprise you. Here’s a prediction — individuals who specialize in AI tools and developers who build them will be hot commodities in the coming years.

Green Jobs

Demand for green jobs is growing in the US + globally

When we looked at the fastest growing skills and occupations from 2022, a theme emerged — demand for green jobs. Companies are hiring more Sustainability Consultants and Energy and Sustainability Managers, along with those who are skilled in net zero applications. As climate concerns worsen, corporations are becoming more interested in reducing their own carbon footprints and using renewable energy sources, which require a specialized background. The Talent Playbook report revealed that demand for green jobs is up over 50% since 2019, which aligns with growing interest in environmental, social, and governance (ESG) programs at growing companies. Which European country do you think is leading the way for green jobs globally? Read the report to find out more.

Talent Planning Data

Today, talent planning requires workforce intelligence and a data-driven strategy

Hiring plans don’t just go on gut feelings anymore. Talent planning is now driven by data, for more than one reason. Labor market data not only helps companies attract and retain candidates that best match the role andorganization, but when applied to talent strategy, it can reduce overhead costs, generate higher returns, and decrease turnover rates.