Welcome to the latest Talent Intelligence Collective Digest. The TIC Digest aims to be your go to source for all matters talent intelligence and will publish monthly on the first Monday of every month.
As?a reminder I managed to get a discount code for my newly freshly launched book,?Talent Intelligence: Use Business and People Data to Drive Organizational Performance,?especially for the Talent Intelligence Collective that allows us to have 20% off on any pre-orders. Order the book?here
?and use the discount code: TIC20
- New Research Shows that Corporate Talent Management, Pioneered in the 1970s, Is Rapidly Being Replaced by Talent Intelligence Solutions
?The Josh Bersin Company, a research and advisory company focused on HR and workforce strategies, has warned that organizations not seeing the true skills picture of tomorrow could "hire themselves into obsolescence"?by continuing to recruit and develop skillsets the market no longer needs. "A talent intelligence platform is the backbone of integrated talent management, matching people to opportunities,"
Talent intelligence?is an evolution of sourcing analytics, people analytics, workforce planning, and retention analytics, combining all of these assets to enable more complex correlations and strategic forward planning straddling multiple HR subdisciplines, enabled by AI. For a talent intelligence approach to work, organizations' siloed HR-related centers of excellence must come together in a dedicated?Intelligence Function
- India ramps up on AI amid talent and scalability challenges
?According to the?AI game changers report 2022?by IndiaAI, a government-led industry group, AI is expected to raise India’s annual growth rate by 1.3% by 2035 – an addition of $957bn, or 15% of current GVA (gross value added) to India’s economy. India’s dream of becoming a trillion-dollar digital economy could well be tied to the rate of AI adoption. A separate report by the National Association of Software and Service Companies (Nasscom) noted that four key sectors in India could contribute about 60% of AI’s potential value-add of about $500bn to India’s GDP by 2025.As a sign of the growing momentum around AI in the subcontinent, 65% of AI prototype projects in India have reached production scale compared to 49% globally, according to a study by Bain & Company, Microsoft, and the Internet and Mobile Association of India.
- A report from Microsoft found that the spirit of the Great Resignation is still alive among younger demographics.
A survey of 20,000 employees from 11 countries found that 52% of Gen Z and millennial workers are considering changing employers this year, per CNBC. One reason is a belief that “learning requires leaving,” with 55% saying that changing companies is the “best way” to develop their skills. 73% said they would stay at their jobs if it were easier to change roles internally. The report also found that 76% of Gen Z and millennials aspire to be their own boss, compared with 63% of Gen X and older generations.
- UK labour market suffers long-term sickness??Since the pandemic, 350,000 more people have become inactive due to long-term sickness · NHS waiting lists and long Covid may be impacting the UK labour market
- New UK chancellor, Kwasi Kwarteng, aims to reverse inactivity in labour market, especially among over-50s
The new rule will require benefit claimants working up to 15 hours a week to take new steps to increase their earnings or face having their benefits reduced. The current threshold is nine hours, though it was increased this summer to 12 hours, which will come into force next week. The further increase, expected to be implemented from January 2023, will affect only a small additional number of those on universal credit, about 120,000 people out of about 5.5 million claiming the benefit.
- Australian labour market to make strong recovery, ABS data reveals
?Labour force data from the Australian Bureau of Statistics (ABS) shows the number of people employed increased by over 33,000 last month bringing the increase since August last year to over 570,000. Innes Willox, chief executive of the national employer association Ai Group said, “Contrary to the views of the doomsayers, the?ABS labour force data
?released today point once again to the strong recovery of the Australian labour market. Unemployment for September is lower than the 5.9 per cent in August, according to Willox, comparing favourably to the 9.3 percent recorded a year ago. The data further points that while unemployment was up by 14,000 in the month, it was driven by more people entering the workforce as shown by the increase in the participation rate to 64.3 per cent, which is fractionally below the record level of 64.4 per cent in June 2022. “While much of the fall in underemployment over the year is due to people converting from part-time to full-time employment, a distinct proportion is also due to the increase in the number of people with second jobs,” Willox added.
The market is definitely quietening on the job front with far fewer roles appearing than in months gone by. It is noticable over the last few months though that many "talent intelligence" roles in EMEA are being positioned as sourcing whereas more and more in the Americas are being positioned as strategic intelligence with no sourcing component.
To ensure we aren't collecting older jobs I will only be highlighting jobs advertised in the last 4 weeks. This means that of course there are lots of other jobs out there but this is the most recent selection with the caveat that a number of platforms insist on refreshing job postings making it a nightmare to unpick the original posting date....
So that's it. That is the latest of the Talent Intelligence Collective Digest's. Come over to the?Talent Intelligence Collective Facebook Group
?, join?Talent Intelligence Collective Whatsapp Group
?or join the newly formed?Slack Channel
?to let me know any thoughts and join in the conversations.
Sr Program Manager - Global Talent Acquisition (Strategic Initiatives)
2 年Great update as always Toby Culshaw - I've pre-ordered my copy of the book (thanks for the discount) and so just wondered when the book signing is scheduled for...? ??
Talent Development | Public Relations | Marketing & Content Management | Partnerships & Operations | Learning & Training Delivery
2 年Insightful and helpful as always, Toby.
Talent protagonist with relentless empathy | Talent Marketing | Sourcing | Recruitment | Talent Mobility & Management
2 年Great update Toby. The slack link doesn't seem to be working.