LEBANON, N.H., May 4, 2021 /PRNewswire-PRWeb/ -- Appcast, the
global leader in programmatic recruitment advertising technology
and services, today announced the final findings from the 2021
"Decoding Global Talent" study compiled by Boston Consulting Group
(BCG), The Network and Appcast. The third study, "Decoding Global
Reskilling and Career Paths," reveals how economic uncertainty and
a shifting labor market impacts workers' willingness and
preferences for reskilling for new jobs.
Workers are Interested in Reskilling
COVID-19 disrupted nearly every industry in 2020, resulting in
massive layoffs and corporate downsizings. As a result of economic
uncertainty, the findings unveiled today reveal that 89% of U.S.
workers are willing to retrain to a different job role. Of that
total, 39% said they would retrain if their job depended on it. The
report finds that mid-senior workers (ages 31-40) and those with a
master's degree and above are most willing to reskill.
Digging deeper, the study explores respondents' willingness to
retrain for a completely different job function to stay
competitive. Out of the 15 industries provided, respondents within
telecommunications (68%) topped the list with respondents most
willing to retrain. Travel and tourism (61%) came in second,
followed closely by financial institutions (60%) and consumer
products and services (58%).
Reskill...But Not For All In-Demand Jobs
With the rise in digital transformation – and the benefits of
working from home during a global pandemic – the study finds that
for workers, job roles within IT and tech are now the most
sought-after, with the majority of U.S. respondents willing to
retrain for these highly coveted positions. Additional white-collar
jobs such as consulting, digitalization and automation, and
engineering and tech followed in the rankings.
However, jobs that require workers to show up in-person –
including service sector, manual labor and manufacturing – are
least desirable across all respondents. Workers who currently fill
these roles have a desire to pivot away from in-person and
front-line roles and into roles that can be done remotely, such as
engineering (25%) and IT and tech (19%). This poses an added layer
of challenge for organizations who are looking to fill their
service roles or manual labor roles, many of which saw significant
growth in jobs in March and as such, are in high demand from an
employer perspective.
Creating a War for Talent
Successful COVID-19 vaccination rollouts and optimistic predictions
around significant economic growth are leading organizations to
ramp up hiring efforts at a rapid pace. In fact, the Bureau of
Labor Statistics recently reported nearly a million new jobs in
March 2021 alone, double the number
of jobs added in February. While there is now a surplus in job
openings, recent Appcast data finds significant reductions in job
seeker activity over the same time period. The surging demand for
candidates, due to an increase in open positions, combined with a
decrease in the supply of willing and active job seekers, has
intensified the war for top talent.
"Over the last few months, we witnessed an unprecedented surge
in open positions across many industries, creating fierce
competition for talent among organizations of all sizes," said
Heather Salerno, senior vice
president of marketing, Appcast. "As the U.S. economy begins to
reopen, this trend will only accelerate, and employers –
particularly those within the services sector or that require
workers on-site – must adapt quickly to attract and retain workers.
We're pleased to work with BCG on this important study and share
the final round of insights to support hiring organizations as they
prepare for a post-pandemic environment."
US-specific findings from the report are highlighted in this
blog post; to download the full global report Decoding Global
Reskilling and Career Paths, click here.
Methodology
The 2021 "Decoding Global Talent" report was conducted by Boston
Consulting Group (BCG) and The Network between October and
November 2020. Feedback was obtained
by nearly 209,000 workers in 190 countries, including more than
6,300 workers in the United
States. Data on U.S. workers was obtained by Appcast, The
Network's exclusive U.S. partner.
About Appcast
Appcast is the global leader in programmatic recruitment
advertising technology and services. With advanced technology,
unmatched market data and a team of the industry's best recruitment
marketers, Appcast's technology and services manage over half a
billion dollars in job advertising annually on behalf of more than
1,500 clients. Headquartered in Lebanon,
N.H. with offices in Boston,
Mass., New Brunswick,
Canada and Minsk, Belarus,
Appcast is a subsidiary of StepStone, one of the world's largest
job classified businesses, and a proud member of the Axel Springer
SE family. To learn more, visit https://www.appcast.io/ and follow
on Twitter @appcast_io.
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and
society to tackle their most important challenges and capture their
greatest opportunities. BCG was the pioneer in business strategy
when it was founded in 1963. Today, we help clients with total
transformation—inspiring complex change, enabling organizations to
grow, building competitive advantage, and driving bottom-line
impact.
To succeed, organizations must blend digital and human
capabilities. Our diverse, global teams bring deep industry and
functional expertise and a range of perspectives to spark change.
BCG delivers solutions through leading-edge management consulting
along with technology and design, corporate and digital
ventures—and business purpose. We work in a uniquely collaborative
model across the firm and throughout all levels of the client
organization, generating results that allow our clients to
thrive.
Media Contact
Amanda Corey, Gabriel Marketing
Group (for Appcast), 202-494-0098, amandac@gabrielmarketing.com
SOURCE Appcast