Page Insights Global Talent Trends 2023 Report

Global Talent Trends 2023
The Invisible
Revolution
Unravelling the most profound transformation in
work culture since the arrival of the Internet.
Contents
1 About our study
2 CultureCore: Applying actionable insights to talent strategy
3 A Revolutionary Shift
4 Total Cultural Revolution
5 The Work-Life Equation
6 Summary — advice on how employers can thrive in the Invisible Revolution
7 About PageGroup
Global Talent Trends 2023 | The Invisible Revolution 2

Are we witnessing the most profound
workplace culture transformation since
the arrival of the Internet?
The Great Resignation, Quiet Quitting, and similar variations Here are the key findings you need to know about: We believe it’s absolutely key to get the fundamental
have dominated conversations in the post-pandemic world building blocks right: salary, career progression, talent
of work. These terms refer to a subtle but transformative Seismic shifts in employee attitudes and motivations development, and flexibility are more important than ever
shift in workplace dynamics that has occurred around have created a new talent landscape — no age group, for developing sustainable and successful talent strategies,
the world. market, or industry is unaffected. which is why they are a core focus of this report.
This convergence of changes has resulted in the arrival As a forward-thinking and market-leading recruitment
There’s no going back to the way things were pre-
of what we call ‘The Invisible Revolution’, quietly unfolding consultancy, PageGroup is always focused on expanding
pandemic; the change we see today is here to stay.
behind the scenes and having a seemingly gradual but the value we deliver to our clients, from cutting-edge, data-
significant impact on companies. driven market insights, to innovative talent solutions.
Job loyalty is now the exception, not the rule. Even
We’ve all seen hybrid working become commonplace, generally happy employees are open to moving on to Our teams of specialist consultants span 37 markets, and
facilitated by video technology which is now a core part of a better opportunity. are available via phone call, video call, or email to assist
many people’s working lives. However, there is something far you with your talent needs. You can also get in touch and
deeper at play here than just changes in the way we work. request a call back by clicking here.
The pandemic has profoundly impacted people in how they While these revelations may be surprising to some,
our study emphasises a long-term transformation of On behalf of PageGroup, I hope you enjoy the read.
think about the value their job contributes to their lives
more holistically. the employment market as people re-evaluate the
role of work in their lives. This holds great significance
To explore this shift further, and provide clear insights and for employers around the world, necessitating a re-
advice for our customers, we commissioned Talent Trends examination of retention expectations and the adoption
2023, a unique global study that has uncovered how workers of various models for flexible resourcing in addition to
are really feeling. traditional permanent roles.
Almost 70,000 professionals responded to our survey, The following pages will give you the essential insights
Nick Kirk
making this the largest and most comprehensive study CEO at PageGroup
you need as an employer to adapt and thrive in this
of skilled, white-collar professionals in the world. new reality.

Talent Trends
2023 is the world’s
Welcome to our inaugural most robust and
Global Talent Trends comprehensive study
of skilled, white-collar
2023 study, presented professionals
by PageGroup’s talent
intelligence and insights
experts, Page Insights.
Our goal at Page Insights is to continually
69,532
improve our understanding of, and therefore participants
37
our collective empathy for, one of the scarcest
resources in the world: human capital.
It’s why our talent study is designed to have an end-to-end
perspective of talent in order to reveal their mindsets (motivations, markets
attitudes, perceptions, beliefs, values, etc.) and employment drivers
(salary, benefits, skills, talent development, company culture, work-
life balance, DE&I, flexibility, etc.).

Study participant highlights.
Age Management responsibilities People with Disabilities LGBTQIA+
20s 13% Top level

13%
(e.g. C-suite)
30s 28%
Senior level
34%
6% 6%
(e.g. departmental managers) identify as a person
40s 29% with disability part of
or make use of LGBTQIA+
Mid level community
21% personal assistance
50s 22% (e.g. line managers)
device
60s+ 8% No managerial
32%
responsibilities
Employment status Job tenure Relationship & family demographics

3%
9%
Employed, full-time Started a new job Recent Job
5% before 2019 30% Starters (2022)
35%
67%
Unemployed and
41%
searching for work
16%
28%
Employed, part-time
married or living
67% Entrepreneur / self- have
with a partner
employed / freelancer
single children
Other 8%
27%
Started a new job Started a new job
shortly before the during the pandemic
pandemic (2019) (2020-2021)

The big story.
Our comprehensive Global Talent Trends 2023 study presents a major defining
moment for us all. It categorically demonstrates that the Invisible Revolution is upon us.
A workplace A shift in the talent Focus on what matters

cultural revolution power dynamic most to talent
in which the talent value equation with talent now firmly in control to gain the right competitive edge
has been permanently reset

Our CultureCore framework:
How CultureCore
Talent Attraction
frames our insights.
Employee Retention
Many would expect that “Talent Attraction” would be at the core of everything we
do as a recruitment company, but what we’ve learnt from doing this for almost
five decades is that successful recruitment can only happen when a few core Employee Experience
fundamentals are adequately considered.
These learnings led us to create our CultureCore talent strategy model, which puts
company culture at the core of everything you do. It might seem simple, but it
takes years to refine and even longer to execute authentically on a daily basis.
Once your company culture is defined (and take notice: people define a company’s
culture much more than the company itself does), it is then brought to life in
the Employee Experience that the company lives and breathes every day. When
Company
a strong culture and an authentic experience are created, people stay. After Culture
consistent application, this eventually creates a strong reputation for your
company’s “talent brand,” with an employee value proposition that prospective
hires not only believe in, but get excited about.
How we’ll use CultureCore to understand the Invisible Revolution and its impact:

First, we’ll paint a picture of what the talent market currently looks like:
what’s the reality when it comes to retention?

Then we’ll uncover the cultural reason behind this tremendous shift
we’re seeing in the talent market.

Finally, we’ll conclude by looking at how to apply our insights to optimise
the employee experience using three critical components.

A revolutionary shift
The Invisible Revolution began with a major shift in loyalty.

Total cultural revolution
The Work-Life Equation
The Great Resignation

never ended.
At the start of 2021, talk of the “Great
Resignation” reached fever pitch: it The number of resignations is not slowing down
was going to be a year dominated by % of people who switched to a new job (by year) 30%
unprecedented levels of talent movement.
And by the third quarter of 2021, it was largely declared that
the worst was over.
Our data, however, tells a very different story.
15%
Our collective focus on the latest headlines masked a much
bigger picture spanning a longer period of time. While the rate 11%
of resignation did increase at a higher rate than it typically
would before, during, and after the period attributed as the
Great Resignation, in 2022, we saw this number double (when, 8%
according to most, it should have stabilised).
And with 57% of the workforce being “active job seekers” this
year, along with increasing volatility of the global economy, we
foresee this number to continue to increase throughout 2023.
2019 2020 2021 2022

90% of all employees Job seeking status:
are open to new

opportunities.
Currently looking for a new job
10%
Planning on looking for a new job
within the next 6 months
The talent market is in universal flux. 12%
This means that companies can only confidently Would change roles for the right job
rely on 1 in 10 people in their current workforce
to be retained this year.
47%
Not currently looking for a role but
not ruling it out
16%
Waiting to see what happens with
are “active job seekers”; this the economy before deciding
57%
means they are looking right
now or plan to find a new job
5%
within the next 6 months.
10%
Not open to new roles
are on the fence but

33% open about looking
for a new job

This talent market Job status, by when people last switched roles:
shake-up is not
being led by tenure. 55%
54% 54%
47%
Actively looking 44%
People are open to new opportunities at
40% 40%
similar levels, regardless of when they
37% 37%
started their current job. On the fence
With just less than half who started their job as recently as
2022 actively looking for a job right now, clearly something
transformational is happening within the talent market. 16%
Not open 8%
12%
6% 6%
Before 2019 2019 2020 2021 2022
Pre-pandemic Pandemic Post-pandemic

Talent open to new opportunities in 2023: Global
average A revolutionary shift
Female 88%
Gender The Work-Life Equation
Male 92%
This is not an
20s 92%
30s 92%
Age 40s 93%
isolated event, 50s
60s+
90%
74%
but a universal
Africa 98%
Asia Pacific 91%
Europe 88%
movement.
Region
Latin America 98%
Middle East 96%
North America 83%
No managerial responsibility 87%

When zooming in on the 90% of Mid level management 92%
people open to a new job, we Seniority
Senior level management 94%
see the same level of openness Top level management 86%
across various segmented views: C-suite 90%
Engineering & Manufacturing 93%
Finance & Accounting 91%
Healthcare & Life Sciences 85%
Human Resources 87%
Legal & Policy 91%

Job function
Marketing 93%
Procurement, Supply Chain, & Logistics 93%
Professional Services 90%
Property & Construction 91%
Sales 93%
Secretarial & Business Support 89%
Technology 90%
90%
Loyalty has lost its lustre.
people who started

people are
9 in 10 1 in 2
new hires
a new job within the
last year are open to
new opportunities
1 in 3 leave within the
first 6 months1
looking for a new
job right now
The culture of long-term service to a single company is becoming

an obsolete concept. People are increasingly open to exploring
new opportunities, and job hopping has become the norm.
There will be a greater challenge for employers to retain top talent due to the factors
influencing employment we share in the pages to follow, with some very confronting
data-led insights that will demand a talent strategy rethink on many fronts.
1
https://www.vultus.com/why-do-33-of-the-new-hires-quit-within-six-months/ Global Talent Trends 2023 | The Invisible Revolution 13
Information is driving
talent mobility.
Talent have two powerful advantages at their fingertips: Current workplace arrangement:
It is much easier to be kept informed in real-time 13%

about job opportunities, through app notifications,
Remote full-time
email alerts, messaging apps, etc.
Flexible / hybrid
49% With flexible and hybrid
working now mainstream for
The proliferation of hybrid-working jobs means 38% most people, even the least
In office full-time
people find it easier to look for jobs — and be engaged job seekers can seize
the right opportunity when
contacted by recruiters — whilst performing their it lands — a significant new
duties in the privacy of home. reality which will continue to
perpetuate job market mobility.

% of people who are more likely to look for a new job when the economy is performing poorly: The Work-Life Equation
The economy’s By region: By job functions:
surprising impact
Africa Marketing
82% 69%
Engineering & Manufacturing
on job seeking.
Middle East 67%
79% Procurement, Supply Chain, & Logistics
67%
Latin America
Sales
79%
67%
Going against expectations, openness
Asia Pacific Professional Services
to new opportunities isn’t dampened 66% 65%
by the worsening global economic Secretarial & Business Support
outlook. In fact, there’s a direct Global average 65%
65%
correlation between poor economic Global average
65%
performance and an increase in the Europe
C-suite
58%
desire to look for a new job. 64%
North America Finance & Accounting
Meaning instead of reacting cautiously, people are 55% 64%
more likely to look for a new job when the economic Property & Construction
environment worsens — 65% of the global workforce
64%
at that.
Technology
However, this openness will not necessarily convert 64%
into job applications. After high volume career migration This means that even though there is a very open-minded
during and after the pandemic, people are more focused base of talent in the market, the candidate-driven dynamics Legal & Policy
on finding an opportunity that perfectly matches their will only intensify, with pressure on companies to stand out 62%
individual needs and ambitions, and that comfortably fits with their job advertisements and create more compelling Healthcare & Life Sciences
with a personal vision of what ideal work-life balance employee value propositions based on what matters most 59%
looks like for them. to the talent market. Human Resources
58%

The Invisible Revolution has already happened.

The threat of high turnover will be a permanent
fixture in the new talent era. The shift is not only
a result of the pandemic, but a broader evolution
But what sparked this
of talent expectations. Talent no longer expect to
stay in a role, but expect their employers to deliver
tremendous shift?
where it counts. Otherwise, they will not hesitate to
look elsewhere.

Total cultural
revolution
Diving deeper into the root cause of the Invisible Revolution.

The big contradiction:

People are satisfied.
Job satisfaction: 50% 22% 28%

Satisfied On the fence Dissatisfied
Yet only 10% aren’t open to a
new job.
How can generally high job satisfaction
accompany such high potential turnover?
There is something much deeper happening to
the collective talent psyche.
Salary satisfaction: 53% 7% 40%
On the fence Dissatisfied Our data reveals a fundamental reset of people’s
Satisfied
relationship with their jobs and the value they
attach to them. And it all comes down to one
thing: work-life balance.
Workload satisfaction: 64% 15% 21%

Satisfied On the fence Dissatisfied

Job satisfaction is less important because

career success is no longer a main priority.
And when it comes to career success, people

are evenly split about what’s more important.
7 in 10 people would choose
mental health and work-life balance over career success
A good Job
49% 51%
salary satisfaction

Work-life balance has been

fundamentally rewired.
Work-life balance is the People who agree that work-life balance contributes to higher job satisfaction, by age, and region:
#1 greatest influencer of job
satisfaction. Greater than pay,
Latin America
training and development, free 20s 50% 58%
lunches, gym memberships,
or any other benefit. North America
30s 55% 57%
Europe
40s 55% 56%
Global average
of people are willing to reject Global 54% 54%
59%
a promotion if they believe it average
will have a negative effect on
their well-being. Asia Pacific
50s 54% 49%
Middle East
60+ 55% 48%
Africa
46%

Work-life balance is
% of employees who agree that work-life balance
contributes to positive job satisfaction, by job function:
Marketing
important to everyone.
59%
Healthcare & Life Sciences
58%
Human Resources
Work-life balance is important to people from all walks of life. Consider that 55%
55% of parents report work-life balance being the most important influence on Legal & Policy
job satisfaction, while 54% of people without children say the same. It’s now a 55%
universal need and is no longer a stand-out benefit.
Procurement, Supply Chain, & Logistics
55%
Technology
55%
Global average
55% 54%
54%
Finance & Accounting
with without 54%
children children Engineering & Manufacturing
53%
Sales
53%
Secretarial & Business Support
Flexibility is a new basic, alongside pay and career progress. Employers 53%
should ensure that they’re adapting their ways of thinking about the employee
C-suite
experience to reflect this new reality, placing employee work-life balance and
52%
well-being at the core.
Property & Construction
52%
Professional Services
50%

The universal shift that

changed people’s relationship 3 34% Gratitude, recognition
and appreciation
with work forever.

The concept of work-life balance changed from being a largely
Relationships
intangible and hypothetical conversation before the pandemic, to 4 34% with co-workers
a very real and undeniable aspect of everyday life.
Top 5 most important job satisfaction factors for talent
5 30% Career progression
of global talent ranked salary as
1 54% 2 46%
ranked work-life the second most The heightened stress and newfound
balance first for important factor in freedom that people experienced
job satisfaction. job satisfaction. throughout the pandemic has
permanently changed work culture.
Consider that parents were sitting at the
kitchen table taking work calls on Zoom
and a mere five minutes later helping their
children with their science homework.

The Invisible Revolution has led

to the deterioration of emotional
benefits attached to work.
Because of this work-life balance reset, Salary is the:
company culture has changed, and it
#1 Reason to accept a new role
hasn’t been the company’s choice.
More people have come to adopt a transactional approach
7% 80% Most important item in job
advertisement
to work, viewing their jobs as a means to an end rather
than a source of personal fulfilment. They’re replacing the of people did NOT rank
emotional benefits of passion, belonging, and purpose level of influence / relationships with their
importance for ‘a greater colleagues in the top 3 Most important factor in
that many derived from their jobs, with more apt and company culture
real-life substitutes, such as from their families, friends, sense of purpose’ when most important factors
and communities. considering a new role. in company culture
(with only 6% ranking it
This reset in the work-life value equation has significant Single most influential
as most important).
consequences. With the emotional value gained from recruitment factor
their job having been greatly diminished, a person’s job
is increasingly simplified down to the core transactional
Biggest recruitment challenge
exchange of their time and expertise for fair pay.
It is therefore unlikely that companies will be able to retain
and attract top talent if they rely solely on non-monetary
incentives to enhance their talent packages.

Few will stay

without better pay.
With people empowered to put their values
first, getting a better deal elsewhere is
preferable to asking for a raise. It’s not just
that work-life balance is more tangible
than it has ever been before, people are of employees asked
now evaluating their jobs on a consistent
basis with a clear value equation:
Only 15% their company for a
pay increase in 2022.
Salary + Career Growth + Flexibility
Employers now have to get these basics right and create a
compelling employee experience.

What is most important Talent Attraction Index (Top 10):
to talent in deciding on
Relative strength of motivators that best attract talent
their next role?

Salary / Compensation
1
24%
Flexibility
2
14%
Our Talent Attraction index (see right) shows us 3

Career progression / Promotion
13%
the relative strength and influence of the listed
factors on motivating talent to join a new company. Office location
8%
The premise of this index is that a company has a greater chance of Work-life balance / Company culture
attracting talent if they enhance at least one of these influential factors. 7%
Similarly, ignoring these factors can result in companies losing talent to their
A greater sense of purpose
competitors.
7%
The top 3 factors significantly impact talent, and companies must get them
right in their talent strategies. Healthcare benefits
5%
Leadership team
4%
Retirement contribution
3%
Technology provided
3%

The Work-Life
Equation
Navigating the Invisible Revolution by optimising three critical factors.

How a company approaches the

Work-Life Equation will determine
whether it thrives or fails in the The Work-Life Equation =
Invisible Revolution.
While the pandemic has led to a laser focus
on flexibility as an important factor in retaining
and recruiting talent, compensation and career
progression remain two of the most established
components of successful talent management.
Career
The importance of pay and career planning is widely Salary + Flexibility +
understood, but what has changed is how talent
views these factors. A vastly more empowered pool
Growth
of talent has emerged as a result of the Invisible
Revolution, and they are seeking a more mutually
Pay should be fairly A universal right, Differentiate talent
beneficial working relationship with their employers. benchmarked for not a privilege development to
It boils down to a simple trade-off: “what I get” job satisfaction and — the new hygiene counteract growing
versus “what I give”. talent attraction factor disloyalty and draw in
Transactional. Simple. Clear. Measurable. top talent
This is not about choosing one component of talent
attraction over another. These factors have become
mandatory basics that employers must address
simultaneously. Ultimately, the goal is to reevaluate
the employee-employer relationship in an authentic
way to bring value to both the company and its
employees.

The Work-Life Equation =
Career
Salary + Flexibility +
Growth
It is not that people are now more aware of talent shortages and
choose to use that knowledge as leverage with their employers
— it is much more important, nuanced, and emotional than that.
They are motivated by a renewed sense of personal value and, ultimately, by what they want
to achieve in their own lives (not just at work). And how their employer compensates them will
be a core contributor in deciding whether the company they work for should be a part of their
achievement story (as evidenced by our Talent Attraction Index).

No pay, no play.
Our study highlights pay as a
critical area for employers to get Evidence suggests that pay is falling behind expectations due to the rapid pace of macroeconomic change:
right — careful benchmarking will
enable employers to influence talent The cost-of-living crisis Pay reviews Emerging talent is
attraction and retention. Getting is very real: are too infrequent: under-compensated:
salary wrong risks closing off talent

— they are very aware of their value,
and they will act on it. It becomes
even more crucial given the talent 1 in 2 The desire for
shortage in many industries today.
employees said 34% a pay rise spans all
ages, especially among
younger talent
they felt impacted by
the cost-of-living
crisis
20s
have not received a pay
rise in the last two years
33%
30s
33%

Salary information accelerates attraction: Bonuses also present an opportunity to compete for talent:
7 in 10 people did not

receive a bonus last year
62% 42%
Up to 10%
40%
of talent said of people ranked salary in 10% to 20%
salary is the their top 3 motivators to 18%
most influential join a new company, making
it the single most influential For those who received 20% to 30%
information in a
recruitment factor a bonus last year, 8%
job advertisement
the majority received
30% to 60%
less than 10% of their
annual income. 7%
60% to 100%
8%
Over 100%
19%

Employers are aware of the

importance of salary but
are struggling to keep up.
While employers widely recognise the
importance of salary in both retaining
and attracting top talent, they still report
matching salary expectations as the
biggest recruitment challenge they face.
1st 40%
This struggle highlights the top driver of why 45% of Employers of employers said 1st
employers said 2022 was a difficult year for recruitment.
perceive salary matching salary Employers rank
increase to be the competitive
expectations
most important salaries as the
attractor for
was the biggest most important
talent recruitment factor in employee
challenge retention

Key insights on how to increase the value of work to your staff:
It is vital that you prioritise your high-value employees by reviewing their salaries as soon as possible because
85% of employees do not request a raise before leaving.
The Work-Life Don’t downplay pay and try to distract away from it – it’s too important for talent to trade off for other
Equation: benefits.
Pay is the most powerful magnet for talent attraction; it influences retention, but it isn’t a guarantee. With
employee loyalty fading, employers must benchmark salaries with extreme due diligence.
Publish salary information in recruitment advertisements. Knowing that talent is increasingly motivated by
pay, failure to publish salary details will cause your role to be overlooked, and in a talent-short environment,
Salary employers cannot afford to lose prospects.
Additional benefits are not a substitute for salary – employers should recognise that people are driven most
by competitive pay, so budgets will be better allocated to higher salaries.

Career
Growth
A universal right,
not a privilege.
Good work-life balance is a non-negotiable expectation for
today’s talent. It is an excellent opportunity for employers to
refine flexibility to provide an outstanding employee experience.

The most important aspects of flexibility:
Be flexible
on flexibility.
Hybrid / flexible
73% Flexible working hours 72% working arrangement
While talent, on the whole, demands

flexibility, the experience of flexibility % of people who said flexible working hours are most % of people who said hybrid working is most important,
at work is entirely individual. important, across these regions: across these regions:
Flexibility preferences and needs
North America Latin America
are highly individualised. 76% 78%
Asia Pacific Asia Pacific
73% 76%
Europe Europe
73% 73%
Middle East Africa
71% 71%
And for these job functions: And for these job functions:
Healthcare & Life Sciences Marketing

77% 82%
Human Resources Human Resources
76% 80%
Secretarial & Business Support Legal & Policy
74% 78%
Technology Finance & Accounting
74% 77%

Flexibility demands
bigger, bolder thinking.
Flexibility has now become a standard offering, not one that
helps a company stand out. It needs out-of-the-box thinking Positive sentiments towards the four-day workweek:
that drives meaningful impact that employees experience and
Would improve employee well-being and happiness
feel every day.
Talent 76%
An example of bold thinking in flexible work models is the four-day workweek.
While to many it may seem unconventional and nonconforming, it reimagines the Employers 69%
employee experience that leads both talent and employers to a perception of
increased employee well-being, happiness, and productivity, thereby creating a
compelling reason to join a company. Is a very appealing reason to join a company
In an effort to make flexibility a unique and compelling part of their employee value
Talent 69%
propositions, companies are exploring a number of other bold ideas too, such as:
• Unlimited vacation days, Employers 66%
• “Work from anywhere” policies (even a different country altogether)
• Reimagining the very purpose of offices by redesigning them as co-creation Would improve productivity
spaces meant for teams to gather (meetings, brainstorms, workshops, etc.)
instead of around individual workspaces
Talent 59%
Employers 57%

Moving beyond flexibility

as a hygiene factor. 2nd
Talent’s ranking
When it comes to what is most valuable Employers
for flexibility as a
to people when choosing their next job motivator to join a overvalue flexibility
opportunity, employers overvalue flexibility new company importance to
relative to the value employees give it. employees by a
This isn’t because it isn’t important to talent (we’ve already clearly whopping
65%
established that it is critical), but because many companies still
tend to push a relatively generic flexibility “product” to their staff
and prospective hires.
Employers
In order to use flexibility as a unique differentiator, companies
should think bigger and bolder. undervalue
It starts with one of the most significant challenges in flexibility work-life balance
at work: it requires a shift in how companies evaluate employee
performance and value on an everyday basis. importance to
Even a cursory look at employer review sites like Glassdoor
would reveal that, whether intentional or unconscious, there are
employees by
16%
still many managers that measure the day-to-day contributions
of their teams by how many hours they work, how many days
they come into the office, and even by how often their status
is set to ‘Away’. What employers should be more conscious of
now is a mindset shift that establishes an employee’s value and
defines it by the quality of their work, not by the journey they
took to get there.

HR and talent teams Openness to non-permanent positions:
need flexibility too.

30%
Given all the changes we’ve mentioned 23%
throughout this report, there has never 29%
been more pressure on a company’s
Yes
human resources and talent teams to
drive meaningful change. Only if unable to
40% 42% 40%
find permanent 37%
position 31% 28%
Realistically, however, even if companies fully commit to
delivering on the Work-Life Equation, there are only so many
holes you can plug in the leaky bucket. Attrition is simply a No
part of our reality.
On top of this, economic uncertainty means companies are Temporary roles Fixed-term contract Freelancing /
considering which hires are most important, and which can Self-employed
perhaps wait until conditions improve. Thus, an openness
to exploring more non-permanent hiring solutions through
alternative contracts is being considered by many companies.
In fact, 1 in 5 employers plan on increasing part-time, fixed- However, in worst-case scenarios where companies implement layoffs, the HR and talent staff
term, and temporary contracts this year. remaining will need greater support. In these instances, an option for many companies of various
Fortunately, the talent market has embraced these alternative sizes and industries worth considering is to embrace recruitment process outsourcing (RPO)
non-permanent employment options not merely as a last solutions. Outsourcing solutions that can be scaled up or down based on a company’s need will
option if a permanent role isn’t available, but for many as a give leaner teams the support they need without compromising the quality of incoming talent.
first choice to deliver the flexibility they need.

Key insights on embracing flexibility as the new workplace “basic”:
Stop waiting for things to “return to normal” — the way we work has forever changed. Companies that
transform their mindsets from simply tolerating flexibility to one of embracing it as a good business strategy
The Work-Life
will have significantly better retention rates.
Equation:
People don’t want hard and fast rules when it comes to flexibility — they want your trust to make the right
decisions. Companies that focus on adaptive flexibility policies that aim to deliver at an individual level and
avoid one-size-fits-all rules will have a much better chance of limiting the leaky bucket this year.
Unless a company’s approach to flexibility is holistic and end-to-end, using benefits like “hybrid work” as a
selling point will not stand out to prospective talent. Instead, they become a hygiene factor in a job ad akin
to vacation policy.
Flexibility
The Invisible Revolution has resulted in out-of-the-box, people-first concepts as increasingly feasible
when it comes to productivity and job satisfaction. Companies that encourage their HR and talent teams
to develop progressive plans as a core driver of company culture will thrive in this hyper-transformative
new talent era.
As preference for part-time and non-permanent roles move from a last resort option to a first-choice
preference, flexible hiring will not only help companies with headcount challenges in the year ahead but also
may unlock valuable talent pools that otherwise would not have been in the market.
Companies that have had to downsize their talent acquisition teams should evaluate the potential benefit
of recruitment process outsourcing (RPO) solutions as a means of supporting lean teams and maintaining
healthy talent pipelines.

Career
Growth
It is evident from our data that the expectation for career

progression and personal growth consistently sits at the forefront
of what motivates people to stay or leave.
The Invisible Revolution has brought with it a talent pool that believes the grass can always
be greener elsewhere, so tapping into that ambition, curiosity, and desire is essential.
It requires leadership to authentically commit to career progression as a critical element
of its company culture and make that believable and actionable through the resulting
employee experience every day. And while offering robust career development to all
employees is a big ask, at a minimum, top talent should feel consistently engaged and
supported to grow.
The more they grow and experience new things, the less motivated they may be to keep
their eyes on job boards.

Career growth as Top reasons for resignation:
a differentiator in Work-life balance / Company culture

20%
employee value
Career progression / Promotion
17%
propositions.
Looking for a big change (in career, role, or industry)
14% 1 in 2
Not satisfied with current pay / salary
11%
Our data identifies the rise of job hopping,
Want more flexibility
where people intentionally move to 10% people cite career
growth, making it the
progress their careers — an effective top overall reason to
Unhappy with strategy / direction of the company
strategy for quickly climbing the career 8%
look for a new job
ladder for a promotion and, usually, for an
General dissatisfaction with my current role
accompanying pay increase. 6%
For employers, this trend presents an opportunity to stand Unhappy with current company values and ethics Yet only
out. Whilst pay is an area where employers should align with 6%
the industry, career progression and development offers
the potential to differentiate and compete for talent by Current company or industry is performing poorly 2 in 10
establishing a person’s potential value as being not just 4% think it is likely
valuable to the company today, but a part of its future too. that they’ll be
Want better non-financial benefits
promoted in
3%
2023

Employers undervalue
career growth.
3rd
It might be one of the most
Employee’s rank of
traditional aspects of a company’s
career growth as a
retention strategy, but there is a
motivator to join a
long way to go before companies
new company
embrace career growth at the same
value as talent do.
Employers undervalue
the importance of career
growth to employees by
16%

Employers rely too

heavily on their brand.
People today are far less motivated to
join a company due to its external-facing
(customer) brand.
In contrast, talent is more interested in the role itself and its Employers
unique opportunities for growth in line with their commitment
to career advancement.
7th overvalue the
Less established organisations (such as startups) are thus Employer perception
importance of 12th
able to compete more effectively with industry giants.
of how important their company Actual talent
company brand is in
attracting talent brand by ranking of
importance of
60% company brand

Stop the “leaky When did people start their most recent job?
bucket” of 35%
attrition through 30%
a commitment 56% found a
to growth.
15% new job since
the start of the
pandemic.
11%
8%
46%
Before 2019 2019 2020 2021 2022
have been with their
current employer 1 in 2
for less than
2 years
rank career progression In order to protect themselves against potentially high attrition rates, employers
as a core motivator,
thus typical promotion should empathise more with talent’s newly empowered position: they will
cycles may not come evaluate what their employer can offer versus what they could get elsewhere.
around soon enough,
leading to increased They are aware of their options and are in control of the decision to switch jobs.
job hopping.
For employers to effectively recruit and retain top talent, training, career development,
and the resulting compensation should all be clearly defined to minimise attrition for new joiners.

The Work-Life Key insights on how to combat disappearing employee loyalty by delivering better long-term personal value:
Equation: Balance pay with the market, compete for talent on their ambition and desire to grow — the third
highest talent motivation.
Career development should be transparent, borne of and integrated within a company’s culture,
and authentically delivered through the employee experience every day.
Career
Growth Develop a progression pathway for ambitious talent; review within three to six months of starting,
and adjust the timeframe for promotion to below two years to improve retention and ensure
compensation keeps pace with seniority.
As 29% of employees said they would prioritise working for a company that invests in their professional
development, employers should clearly define and publish their talent development capabilities to
attract top talent.

Summary
Thrive or survive: the choice is yours.

Three recommendations.
Rethink your Benchmark pay Review your EVP

resourcing model Knowledge is power when Culture is the ultimate spark
competing for top talent. for significant change.
Less loyalty = more frequent hiring.
Pay has always been important, but our data As we have explored, the role of work has
This report unequivocally proves that the much- shows it has never mattered more to workers than fundamentally shifted for talent around the world,
trumpeted Great Resignation never ended – rather it does right now. One key element of the Invisible becoming more transactional in the process. Work-
than being a blip, higher attrition is now a longer- Revolution is that people are intentionally increasing life balance, career development and progression,
term reality for many employers. Loyalty has lost its the monetisation of their time; they won’t accept values, and leadership have been clearly highlighted
lustre for many workers, with even ‘happy’ staff now lower pay if they can earn more elsewhere, they as key elements of this Invisible Revolution.
open to being tempted away with the promise of aren’t willing to trade off pay for progression, and
better pay, flexibility and conditions. We believe that the best way for companies to
they dismiss any other benefit until pay meets the
demonstrate they can meet the needs of the people
Against this backdrop, we believe many employers necessary benchmark.
who work for them is through a clearly articulated
will need to rethink their hiring models — and For this reason, it is essential to stay on top of what employee value proposition (EVP). This should go
quickly. For some companies, recruitment will need the competition is paying, whether you are looking way beyond pay and flexibility and get to the nub of
to be continuous, rather than on-demand, to keep to hire new staff or retain top talent. At PageGroup, the issue: at a time when loyalty is at a premium, how
up. It will likely comprise a blend of permanent, we produce a suite of salary guides each year and why should people connect with their employer
contract and flexible options. And working with a and can also provide real-time data on salary on a human level? Reflecting worker priorities in an
trusted recruitment partner, and being able to flex benchmarking and market trends. EVP could be a great differentiator when it comes to
the model according to evolving needs, will be the hiring new staff or retaining existing talent.
key to meeting the challenges of a world where Click here to find out more.
loyalty is low, but change is continuous.

Will you use the Invisible
Revolution as an opportunity The decision is yours
to thrive, or will you simply and the moment is now.
aim to survive?

Hungry for
more data?
What we’ve detailed in this report is a mere fraction of the
insights we have to share. Along with our Talent Trends
2023 survey data, we have a suite of other proprietary data
sources in our Page Insights Data Centre to provide data-led
guidance on numerous valuable topics to boost your talent
strategy and EVP development (such as salary data, talent
supply, ease of hire, time to hire, reward packages, benefits,
DE&I, values and culture, sustainability, and many more).
Our premium PageInsights+ services deliver custom data

research tailored to your specific needs. To learn more:
Contact us
If you are a member of the press looking for real-time expert

insights into our data:
Contact us

About PageGroup

Are you
hiring?
Executive Qualified Clerical Flexible recruitment
search professionals professionals outsourcing
Based on your recruitment
needs, we have four Page Executive is the Michael Page provides Page Personnel Page Outsourcing provides
internationally recognised executive recruitment specialised recruitment specialises in recruitment customised solutions for
division of PageGroup services for professionals services for quality high-volume hiring and
and respected brands and provides a range at middle management to professionals within the specific project recruitment
(Page Executive, Michael of search, selection leadership levels, along professional support needs. These include
and talent management with highly specialised space through to RPO, MSP, TTA, RPO light
Page, Page Personnel, and solutions. It is the search technical positions. middle management. for project based high
Page Outsourcing) ready brand that gives you volume hiring needs and
confidence, with a global recruitment advisory. We
to help you find the right network of connectors offer bespoke and flexible
talent for your business. made up of the kind talent solutions adapted
of people that senior to any hiring needs across
leaders trust with their industries and locations.
very own careers.
Scan or click on the relevant

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Global Talent Trends 2023

2 CultureCore: Applying actionable insights to talent strategy

4 Total Cultural Revolution

5 The Work-Life Equation

6 Summary — advice on how employers can thrive in the Invisible Revolution

Global Talent Trends 2023 | The Invisible Revolution 2

Global Talent Trends 2023 | The Invisible Revolution 3

Global Talent Trends 2023 | The Invisible Revolution 4

20s 13% Top level

Employment status Job tenure Relationship & family demographics

Global Talent Trends 2023 | The Invisible Revolution 5

A workplace A shift in the talent Focus on what matters

Global Talent Trends 2023 | The Invisible Revolution 6

Global Talent Trends 2023 | The Invisible Revolution 7

Global Talent Trends 2023 | The Invisible Revolution 8

The Great Resignation

2019 2020 2021 2022

Global Talent Trends 2023 | The Invisible Revolution 9

90% of all employees Job seeking status:

are open to new

are on the fence but

Global Talent Trends 2023 | The Invisible Revolution 10

Before 2019 2019 2020 2021 2022

Pre-pandemic Pandemic Post-pandemic

Global Talent Trends 2023 | The Invisible Revolution 11

isolated event, 50s

Asia Pacific 91%

Middle East 96%

North America 83%

No managerial responsibility 87%

Engineering & Manufacturing 93%

Finance & Accounting 91%

Healthcare & Life Sciences 85%

Human Resources 87%

Legal & Policy 91%

Procurement, Supply Chain, & Logistics 93%

Professional Services 90%

Property & Construction 91%

Secretarial & Business Support 89%

Loyalty has lost its lustre.

people who started

The culture of long-term service to a single company is becoming

It is much easier to be kept informed in real-time 13%

Global Talent Trends 2023 | The Invisible Revolution 14

The economy’s By region: By job functions:

Global Talent Trends 2023 | The Invisible Revolution 15

The Invisible Revolution has already happened.

Global Talent Trends 2023 | The Invisible Revolution 16

Global Talent Trends 2023 | The Invisible Revolution 17

The big contradiction:

Job satisfaction: 50% 22% 28%

Workload satisfaction: 64% 15% 21%

Global Talent Trends 2023 | The Invisible Revolution 18

Job satisfaction is less important because

And when it comes to career success, people

Global Talent Trends 2023 | The Invisible Revolution 19

Work-life balance has been

Global Talent Trends 2023 | The Invisible Revolution 20

Global Talent Trends 2023 | The Invisible Revolution 21

The universal shift that

with work forever.

Top 5 most important job satisfaction factors for talent

5 30% Career progression