How to recalibrate your talent strategy as hiring slows

LinkedIn’s latest Global Talent Trends Report data, shows that hiring continues to slow around the world and Asia Pacific region: Australia saw a -35% reduction. This has led to a new, more sustainable trend focused on skills-first hiring as skills become the currency of the workplace. The report provides advice from industry experts on how to recalibrate talent strategy for the future.

Tip 1: Build a strong talent pipeline by putting skills first

This shift towards a skills-first hiring strategy can immediately widen your talent pool To make this shift, it is important to first understand the skills that your organisation needs and then invest in a strong employer brand aligned with candidate priorities

Tip 2: Leverage internal mobility as a tool for retention

While internal mobility is increasing in some global industries, it’s still not top of mind for most employees in some APAC markets Promoting internal mobility opportunities can lead to higher employee retention and a more diverse and equitable workforce

LinkedIn data shows that employees stay at companies almost 2x longer if the employer is highly committed to internal hiring

Tip 3: Invest in upskilling and reskilling the next generation of leaders

The Global Talent Trends data suggests Gen Z employees are the least likely to make internal moves and people leaders in management roles are more likely to benefit from internal moves versus individual contributors Career advancement and skill development consistently rank as top priorities for employees in APAC

Tip 4: Make the business case for skills

The Global Talent Trends data tells us companies that focus on skills can expect nearly a 10%

higher retention rate, which should be enough to get your leadership to sit up and pay attention

Over 80% of Learning & Development professionals in APAC agree that it’s less expensive to reskill a current employee than to hire a new one To help you build a business case for skills you could quantify the value of leadership training and skills-building

Taking the next step

As the world of work continues to shape-shift around us, the best first thing you can do is to start asking hard questions about your company’s internal mobility culture and processes

Explore the report: https://business.linkedin.com/talent-solutions/global-talent-trends