‘The hiring shift is gaining momentum’ says LinkedIn business manager
Elinor Honigstein, business development manager at LinkedIn tells Candice Krieger how firms are embracing a skills-based approach to hiring to tap into more diverse talent pools
The past two years have had a lasting impact on the world of work, yet we are still operating in unchartered waters says Elinor Honigstein, Business Development Manager at LinkedIn.
Honigstein, who joined LinkedIn, the world’s largest professional networking platform last year, says: “By now, we would have thought that the new working norms had been established. However, we are in fact still operating in unchartered waters where change and uncertainty are the only constant.”
What is clear is that as we emerge from a post-pandemic period of accelerated change, the “Great Reshuffle”- where workers are rethinking how, why and where they work, has been shaking up the job market.
“Traditional assumptions are being questioned,” says Honigstein, former head of the UK Office of the UK Israel Tech Hub, part of the British Embassy Israel.
“People reshuffled during the pandemic as many have been searching for more flexible jobs but also a stronger sense of purpose- jobs that align better with their own values.”
People are changing jobs at unprecedented rates. Research from the CIPD (The Chartered Institute of Personnel and Development) revealed last year (June) that more than 6.5 million people in the UK were expected to quit their job in the next six months, while a PwC survey cited almost one in five UK workers likely to switch. Millennials in particular are moving around the market – Gallup, the workforce and global consulting research company, revealed that 21 per cent of millennials changed jobs last year, three times higher than in other age groups.
“The traditional career path of ‘a job for life’ is making way for a portfolio of broad and non-linear work experiences.
“Remote working opportunities opened up the job market to potential candidates that might have otherwise been excluded.
The “Great Reshuffle” brings with it a host of challenges for employers, particularly when it comes to attracting and retaining talent.
“The one that has been coming up often in my conversations with co-workers is that employees are hungry for more learning and development opportunities if they are going to stay with their current employer.” According to a Microsoft survey, 76% of employees consider these opportunities to be the number one driver of great work culture. “This means thinking beyond promotions and providing employees with the right resources and learning experiences as part of the flow of work.”
She adds: “Understanding that employees leave is an important part of being able to support them in their growth. After all, you never know when they’ll come back – ‘boomerang’ employees accounted for five per cent of all new hires in LinkedIn UK in 2021.”
Another challenge is being able to tap into diverse talent; “Let’s take age diversity for example – with four different generations now working together for the first time – Gen-Z, Gen-X, Millennials and Boomers, it has never been more critical to understand and leverage the multigenerational makeup of our workforce and to challenge our own biases in work by recruiting equitably.” As the world changes and the labour market with it, diversity, equity, and inclusion (DE&I) is becoming increasingly valued by workers and businesses alike.
Passionate about the intersection of gender diversity and technology, Honigstein joined the Women @ LinkedIn Committee in London after landing her new position at the social network. She launched the UK-Israel Women Leading Innovation Network and trained as a facilitator for Google’s #IamRemarkable initiative, which empowers women and other underrepresented groups to celebrate their achievements in the workplace. Honigstein recently joined the Regional Leadership team as Program Manager at Women LinkedIn EMEA and aims to plan and execute a range of workshops for the community.
“Skills-based hiring can help businesses and recruiters to unlock new talent pools.
As employers deal with the ongoing “Great Reshuffle”, they are increasingly turning to a skill-based approach to hiring. “Many companies, including LinkedIn, are encouraging this. With candidate shortages across a variety of industries, skills-based hiring can help businesses and recruiters to unlock new talent pools, and we’re seeing them starting to recognise this. Rather than relying on past direct experience and formal qualifications, this approach helps to level the playing field for job seekers.”
It remains to be seen how much longer the Great Reshuffle will shuffle on for, but companies will need to move quickly to refine their long-term working policies to ensure their business becomes a beacon for top talent and that their existing talent has reason to stay.
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