This time on the LinkedLetter discover what is GenZ’s attitude towards green skills, what the professional platform had in store for the 2024 Cannes Lions, and of course, the latest from the American workforce through the monthly report LinkedIn released for June. Read below for the details!
GenZers are Looking to Ride the Green Wave
LinkedIn has gathered data according to which only 1 in 20 of those belonging to GenZ have the skills needed to fight against the climate crisis. Considering that usually 1 in 8 employees overall possesses green skills, it seems that GenZers are falling behind. But probably not for long – further investigation from the platform shows that they are more than willing to make up for what they’re lacking.
Source: LinkedIn
Efrem Bycer, Senior Lead Manager, Public Policy and Economic Graph at LinkedIn, says: “More than half (61%) of Gen Z workers want to work in a green job in the next five years.” He points out 3 clear trends that have emerged from LinkedIn’s latest report.
- Gen Z is highly ambitious and wants to upskill – They face challenges such as a lack of job opportunities, experience, and green skills. But despite their concerns and eco-anxiety, they remain confident in their ability to learn green skills if offered training.
- Climate action should concern all – Green skill development is lagging behind what is needed to meet climate goals and leveraging talent from all generations is crucial. Despite increased green hiring, only a small fraction of the global workforce possesses the necessary green skills.
- Gen Z should be empowered to succeed – Gen Z sees green jobs as their future but needs programs, skills, and support to secure these roles. While 78% believe they could learn new green skills with training, access to such programs remains limited, particularly in the US.
That path to success does exist as well, as shared by Sue Duke, VP, Global Public Policy & Economic Graph at LinkedIn. She points out that there are several ways to learn green skills. Some of them include browsing job listings on sites like Climatebase to identify desired skills and taking online classes on platforms like Terra.Do and LinkedIn.
LinkedIn Was the Home of B2B at the Cannes Lions 2024
At Cannes Lions 2024, LinkedIn turned the Carlton Cannes Hotel rooftop into a hub for B2B activities, featuring panels, studio sessions, and networking events. The Cannes Lions International Festival of Creativity 2024, held from June 17-21 in Cannes, France, is a prestigious event celebrating global creativity in advertising and marketing.
Source: LinkedIn
LinkedIn presented new research with Bain & Company, highlighting emotional drivers in B2B purchasing and the importance of brand familiarity. This research shows that B2B buying cycles are long and involve multiple stakeholders, with 81% of successful purchases being known to all decision-makers from the start. LinkedIn aims to demonstrate its tools and insights to effectively engage B2B buyers and build confidence among decision-makers.
The professional network’s programming highlights from the event included:
- LinkedIn & Bain present, ‘Unlocking B2B Opportunities: Why FOMU is Greater than FOMO
- LinkedIn’s 2024 B2B Marketing Benchmark launch
- World premiere of ‘Everybody’s Business’ – a new B2B documentary
LinkedIn Workforce Report | United States – June 2024
LinkedIn users in the USA have been quite active in the labour market. People have started moving to different cities abroad as they begin new jobs. With over 214 million members on the platform, LinkedIn reveals the Workforce Report, which summarizes the latest data on hiring and migration trends through May 2024.
Some of the key insights, that can be highlighted from the report, are as follows:
Hiring increased modestly by 3.2% from April to May, despite a 6.0% decrease compared to May 2023. This rise is the largest monthly increase in 2024 and the smallest annual decline since August 2022. The hiring uptick is timely as new graduates enter the job market.
Source: LinkedIn
LinkedIn notes: “Hiring rate is the percentage of LinkedIn members who added a new employer to their profile in the same month the new job began, divided by the total number of LinkedIn members in the U.S. This number is indexed to the average month in 2016. For example: an index of 1.05 indicates a hiring rate that is 5% higher than the average month in 2016”.
- In May, hiring rose in 14 out of 20 industries, a notable improvement from the previous month. The strongest increases were seen in Education (+8.2%), Oil, Gas, and Mining (+6.4%), and Government Administration (+6.2%). Conversely, hiring decreased significantly in Wholesale (-7.4%), Real Estate and Equipment Rental Services (-10.3%), and Holding Companies (-13.7%). The Technology, Information, and Media sector saw a 2.2% increase from April to May, with a year-over-year increase of 1%, marking its first annual growth since May 2022. Overall hiring rates have grown 2.4% since January 2024, with the Technology sector increasing by 7.7%.
- Regionally, hiring rose in 18 out of 20 tracked metro areas in May. Year-over-year hiring is up in Atlanta (+1.6%) and the San Francisco Bay Area (+1.1%). The largest monthly increases were in Chicago (+7.9%), Boston (+7.8%), and Atlanta (+7.7%), while only St. Louis (-0.4%) and Phoenix (-0.6%) saw declines.
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