Over the last few weeks, we have been revealing the results from our biggest ever data report, an analysis of our Talent Marketplace datasets (across both our international client base and 60,000+ talent network) to reveal key findings about workforce and talent trends across geographies in 2023.
This is our Talmix Atlas. In the last editions, we've directed our focus on the Middle East, APAC, and North America. This week, we take a deep-dive into Europe - to explore the regional landscape for both businesses and business talent.
Europe dominating the landscape
European businesses account for 44% of the global client network at Talmix, with 85% of all businesses across the network maintaining a European base in some capacity. Despite the economic slowdown in the wake of the Ukraine invasion, EU labour markets have remained resilient - the EU economy grew by 3.5% (2022-3), and employment rates are at a record high. As many European businesses already had pre-pandemic experience of building socio-geographically distributed teams, the post-pandemic shift to “extended workforce” adoption required less adjustment for companies in the region to quickly adapt to the new ways of working.
On average, Talmix has seen a 75% increase in marketplace usage across Europe, with highest adoption rates in Germany, France, Spain, and the U.K. Over a quarter of all projects posted on the Talmix platform since 2020 have been for European-based positions.
Based on projects posted on the Talmix platform, European countries also boast, on average, the best average time to hire – with France and Spain leading the EU pack.
Interim hires are growing across Europe too. In the first four months of 2023, 14% of all projects posted on the Talmix Marketplace were listed as interim postings. More restrictive EU regulations on employment has made interim management an easier choice for European countries, which can often be much more cost effective and offer greater flexibility in volatile markets.
Talent Demanding and In-Demand
The European talent landscape has certainly shifted over the last three years, thanks to changing work patterns (the rise of remote working, the extended workforce drive), skill shortages to fill, and changing employee demands (employees seeking more flexibility on the workplace).
The result across Europe is the highest regional talent growth anywhere in the world – accounting for 34% of global talent growth across the Talmix network, and a 31% increase in talent registrations since 2020.
It is also pleasing to see that an increase in registrations and project applications across Europe does is not limited by opportunity, as project postings have grown in parallel. In fact, one in every four applications has led to interview or hire across Europe from 2020 to 2023.
Women make up more of the Talmix talent network than ever before, particularly across Europe, where female talent can boast 48% of all global talent applications to projects posted (a 38% rise in the last year), whilst making up 43% of all eventual hires in the region.
40% of the female talent network at Talmix is made up of European talent, and within the European network, women make up a third of all talent, by far the largest regional proportion.
Female interim hires are on the rise between 2019 and 2023, with the number of women being hired into leadership positions following the same pattern. 20% of all global interim hires made between 2020 and 2023 have been female hires. In the UK, this stands at 19% - in 2019, this figure was 0%.
In-demand skills across the region
Talent marketplace usage has grown most prominently across the retail, manufacturing, and transport industries in Europe. At the same time, ongoing developments in AI have precipitated an increased adoption of on-demand platforms like Talmix, to provide fast access to talent with the required skillsets to keep pace in a rapidly accelerating arena.
This is reflected in our data – the European financial industry, in particular, is really doubling down on finding AI talent in 2023. AI-related hires currently account for over 25% of the open job postings for Talmix clients in the financial sector. Other sectors leading the way in marketplace adoption are Cybersecurity, Fintech, Healthcare and Construction.
Interested in finding out more? Feel free to get in touch with us at Support if there's anything you'd like to discuss further, for insights into the type of talent available across Europe, and for any project support of your own.