Talent News Round-Up: Gender Parity, The AI Race, and Candidate Resentment
Staying updated on the latest workforce trends is crucial for TA leaders and HR professionals. This week, we delve into three significant developments shaping the talent landscape and get SocialTalent CEO, Johnny Campell’s first-hand takes on these pieces.
- First, we dive into the World Economic Forum’s Gender Parity report and see the large gap that is still to be resolved in this regard.
- Described by Johnny as “profound,” McKinsey’s latest piece on the impending impact of AI on the workplace and the need to up-skill is a must-read. Transformation is coming and we need to be on the pulse.
- According to ERE, employers are doing very little when it comes to improving candidate experience – in fact, candidate resentment is on the rise. There’s so much more that can be done on this front and Kevin Grossman’s insights are always a good place to start.
Join us as we explore these pivotal insights and their implications for the future of work.
1. This is the State of Gender Parity in 2024
Source: World Economic Forum
According to the World Economic Forum, it will take 134 years to achieve global gender parity. Europe dominates the top 10 most gender-equal nations, led by Iceland. Despite some gains in health and education, economic and political disparities persist. The 2024 elections, involving 2 billion voters, are crucial for shaping gender representation in governance. The report calls for significant investment and policy action to accelerate closing these gaps.
Johnny Campbell’s take on this:
“Think we’re making progress on gender parity? Take that hand firmly off your back as it’s definitely not time to pat yourself on the back for all the work you think we have been doing! What’s scariest is that sub-saharan Africa seems to be doing better to address this gap than North America! Read this, understand it, and go do something about it!!“
2. The Race to Deploy AI and Raise Skills in Europe and Beyond
Source: McKinsey
This McKinsey report emphasizes the critical need for Europe to boost AI adoption and workforce reskilling to remain competitive globally. It highlights AI’s potential to significantly enhance productivity and economic growth but notes existing skill gaps as a major challenge. The report advocates for substantial investments in technology and education to leverage AI advancements effectively and prepare the workforce for future demands.
Johnny Campbell’s take on this:
“Stop whatever you are doing and read this article NOW! The impact of these predictions is profound, particularly for recruiters who, mostly, fit into the sales/ customer service categories that are predicted to decline over the next few years. For employers, robotics and Gen AI are going to transform production and office jobs forever and we urgently need to reskill up to a quarter of the labor market.“
3. Candidate Resentment Hits All-Time High
Source: ERE
According to ERE, candidate resentment towards the hiring process has reached an all-time high, with the tech industry seeing the largest decline in candidate experience. The report highlights increasing frustration over poor communication, extended timelines, and lack of transparency during recruitment. These issues lead to negative perceptions of employers and potentially harm their brand. Improved candidate engagement and more efficient processes are essential to reversing this trend and enhancing overall candidate satisfaction.
Johnny Campbell’s take on this:
“Another excellent set of insights from Kevin Grossman, this time demonstrating how little employers seem to be doing about candidate experience, which might be tied to the challenges the industry faces in terms of recruiting budgets and recruiting layoffs. In summary, tech recruiting teams need to look at what the healthcare sector is doing as they are nailing it in terms of candidate experience!“