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EIGHTH EDITION

The Beamery
Talent Index
A New Era For Skills

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Introduction

“
In this eighth edition of the Talent Index, we take the pulse of the workforce The employers who can make it easy to find relevant opportunities, to build skills through
and explore the talent landscape, uncovering how employees are feeling – and how training or new deployments, will surely find themselves engaging their top employees,
they are making decisions. and retaining talent who might otherwise leave. AI has a role to play here, actually... but our
research suggests there are some challenges for employers in terms of educating people
Our survey reveals an interesting blend of confidence and stability among workers in around AI, supplying the right tools, and overcoming the workforce’s fears in this area.
the UK, US and Australia, with greater levels of job security – and a stronger inclination
than ever to remain in their current positions. It uncovers a shift in what keeps employees Read on to learn more about modern work dynamics, and the amalgamation of aspirations,
rooted in their roles, and the importance of culture, flexibility and continued development. challenges, and technological evolution that define today’s talent landscape.

Priorities have shifted for job seekers. While compensation remains a key factor, nearly Abakar Saidov
a third of those on the hunt for a new job were doing so due to a lack of opportunities
Co-Founder and CEO of Beamery
for growth and progression. This desire for personal development was also shown by the
proportion contemplating a complete career change (the third most popular reason for
wanting to quit).

Moreover, 46% of respondents said they were keen to pursue learning opportunities,
primarily driven by the desire for self-improvement – but most people felt their
organization didn’t have lots of opportunities for L&D.

And it seems existing skills, as well as potential ones, are being left on the table. The
majority of survey respondents (61%) felt their full set of skills was not being utilized in
their workplace, and few felt that their employer had a full understanding of the skills they
bring. A huge 81% said they would be open to internal career transitions, revealing a latent
potential for talent mobility. However, the path to such transitions remains laden with
obstacles, with a mere 15% perceiving it as “very easy” at their current workplace.

Beamery Talent Index Eighth Edition 2

01

Pulse of the Workforce

% concerned about being laid off

We asked people from the US, UK and Australia about their feelings towards work,
new work trends, their employers, and their preferences in working lives. 18-24 46%
Our survey reveals an interesting blend of confidence and stability among workers.
Just 47% are contemplating job changes within the forthcoming year, down from 51%
in our last comparable survey.

Looking to leave in next 12 months

25-34 36%

12% 21% 14%

“already have an “actively looking for “looking to do so 35-44 35%
opportunity” a new role” later in the year”

Age range
Younger people are more likely to be looking for a new opportunity, with 62% of
18-24-year-olds and 56% of 25-34-year-olds claiming to be looking to leave their jobs
in the next twelve months. We also see higher levels of desire to move on in the 45-54 25%
Energy sector (68%), IT/Tech sector (59%) and Retail (54%).

While many people, overall, seem happy to stay put, 76% of our respondents
(vs. 72% in Talent Index 7) say they are confident that they could find a new job in
a matter of months. (34% say they are very confident – and would expect to secure 55-64 16%
one in just three months.)

People also seem to feel more secure in their jobs, following a period of greater
uncertainty. We still found that 32% are in some ways concerned they will be laid
off or made redundant at their current workplace – but this is down from 37% in
our previous study. Perhaps reflecting their greater likelihood to be job seekers,
65+ 11%
18-24-year-olds have the highest levels of fear in this regard.

Beamery Talent Index Eighth Edition 3

02

What people want

said they are considering leaving their job due to a lack of
opportunities for career development/progression.

Priorities have shifted for job seekers. While salary is top of mind for
those considering leaving (43% mentioned this), nearly a third of those
Those from the UK are the most likely to say they are leaving their current job (or considering doing
on the hunt for a new job are doing so due to a lack of opportunities for
so) because they feel underappreciated – 31% mention this, versus 27% of those from Australia and
growth and progression.
25% of those from the USA.

This desire for personal development was also shown by the proportion
Amongst 18-24-year-olds, the issue of salary is only cited by 33%, and the same number also
contemplating a complete career change (29% – making it the third
say “I am seeking opportunities in a new sector.” The most common reason for moving on
most popular reason for wanting to quit).
(noted by 35% of this group) is a lack of opportunities for career development.

What are some of the reasons why you are considering leaving
The lack of career development opportunities is also a popular response amongst those job
your job in the next 12 months?
seekers from the IT/Tech sector (38%) and Pharmaceutical/Healthcare (37%).

43% 32% 29%

A lack of opportunities I am seeking
Pay (lack of
for career development/ opportunities in a new
salary increase)
progression sector (a career change)

28% 25% 23%

Poor management/
I feel Lack of flexibility in terms
bad decisions made by
underappreciated of where and when we work
leadership

21% 16% 11%

Negative The company values are I don’t like my manager
workplace culture not aligned to mine

Beamery Talent Index Eighth Edition 4

The research also uncovered what keeps employees rooted in their roles – We also asked all respondents what their top priorities are when they decide to apply to a
and, once again, salary isn’t the top answer. new organization. Work/life balance topped the list of things people were looking for (62%)
in a new role. While ‘high salary’ (53%) and ‘perks and benefits’ (43%) were understandably
“I feel appreciated” (46%) and workplace culture (45%) are the most popular reasons popular responses, location (51%) and remote working options (38%) were also in
for those who said they were staying put, with 38% citing “flexibility in terms of where the top five.
and when we work” – and only 35% saying the pay is better than what they think they
could get elsewhere.
Which of the below factors, if any, matter most to you when deciding
Only 25% note good Learning & Development (L&D) options, but looking at other parts of if you want to apply for a position at a new organization?
the research it is clear that people still value training opportunities. It’s just not the thing
keeping people engaged – or something that, perhaps, many companies are doing well.
Work/life balance 62%

Of those who said they were not considering leaving, their reasons for this were:
High salary 53%

I feel appreciated 46% Location 51%

Positive workplace culture 45% Perks and benefits 43%

Flexible or remote working options 38%

Flexibility in terms of where
38%
and when we work
The career path offered/
opportunities for promotion
33%
Pay is better than I think
35%
I could get elsewhere
My ‘fit’ with the company’s vision,
culture and values
32%

I really like my manager 31% The company’s financial health

and stability
28%

The company values are

28% Strong management 27%
aligned to mine

The training and

Opportunities for career development available
27%
27%
development/progression
The company’s products
or service
20%
Good Learning &
25%
Development options

Great management/good
25%
decisions made by leadership

Beamery Talent Index Eighth Edition 5

Even in the face of an increasingly remote work landscape,
a significant proportion are returning to the office: 47% said
it was mandated that they work in the office every single day,
with a further 30% saying it was mandated they come in for
at least some of the week.

And, while flexibility is clearly valued for a range of reasons, just

26% of respondents said they found themselves to be more
productive when working from home.

There are some useful insights for employers who don’t feel
they are able to raise salaries or introduce new monetary
benefits to their teams. Retention tactics can include softer
elements, like culture, which can be boosted with tangible
policies around flexible working, L&D programs, and finding
ways to help people use their skills in new ways. Are you
considering how better training, relevant mentors, and
opening up more internal mobility options could help you
retain top performers?

Beamery Talent Index Eighth Edition 6

03

Learning and developing skills

46% of respondents say they are keen to pursue learning opportunities at their Why would you like to learn new skills?
workplace, with 26% currently doing this and 20% looking to do so. The number

56% 49% 27%

remained consistent across all job levels, showing that the appetite for skill
acquisition is not diminished with greater authority – and, of course, seniority
doesn’t guarantee continued relevance, in a fast changing talent and I like challenging myself I want to earn more money I want to move into
technological landscape. as much as possible in the future a different role

That said, 57% of respondents aged 25 to 34 say they would be interested

in learning new skills – and there was a greater desire for learning within certain
sectors too, such as Pharma and Tech.
26% 23% 22%
“Hard skills” were more popular than “soft skills” when it came to what people It feels like my I am worried about my current I feel I am not learning
were currently learning or wanted to learn in the future – which may tell us organization really wants skillset going out of date/ enough in my day-to-
something about the fast evolving technological landscape. us to upskill/reskill becoming obsolete day job

Those seeking new learning opportunities were primarily driven by the desire for Sadly, just 29% said their current workplace had plenty of plans or processes in place to help
self-improvement (56% gave this reason), with 49% citing their future earning them learn new skills. 39% said they had some plans in place, and 28% said they had none.
potential as a driver. Those in the IT/Tech and Energy sectors were more likely
to be worried that their “skills would go out of date.”

Beamery Talent Index Eighth Edition 7

 Do you feel your full set of skills are being utilized at your current place of work?

What’s interesting is that providing good L&D initiatives is only

No – I am not
half the battle. A starting point that many companies neglect is No – I think I can
utilizing any of
deeply understanding the skills they currently possess (along offer much more
my skills in my
with the skills they need), and actually bringing out the full with my skills
current job
potential of the workforce, through more creative initiatives
for development.

For example: the majority of our respondents (61%) felt their

full set of skills was not being utilized in their current workplace
No – I think I can Yes – I think my
(up to 69% amongst 18-24-year olds, and 66% amongst
offer a bit more full set of skills are
25-34-year-olds).
with my skills being utilized

Do you think your employer has a full understanding of the skills you have,
and what you can offer to your organization?

They have some

No, they have no
understand of some of
understanding of
my skills – but not the
Further, just 35% felt that their employer had a full my skills
full picture
understanding of the skills they bring – and less than half
(49%) said their employer had assessed their
skills at the point of recruitment.

Yes they have a

full understanding Unsure
of all my skills

Beamery Talent Index Eighth Edition 8

 The truth is, there is a wide definition of ‘development’ or ‘progression’ that
employers are guilty of ignoring. While a promotion to the “next level” is usually
welcomed, and pay raises are great, learning new things is also a form of
progression – and trying new types of role, in different parts of the business, can
aid both skills development and the feeling of achievement.

Is there an appetite for this? Certainly. A massive 81% of our respondents said
they would be open to internal career moves in their current workplace, with 90%
saying this in IT/Tech and 85% in Financial Services & Insurance. Younger people
were particularly keen for talent mobility, but those at the C-level were even more
enthusiastic than interns (91% vs. 86%).

However, the path to such transitions is apparently laden with obstacles. Just
15% perceive it as “very easy” at their current workplace, with 40% saying it was
“not very easy” or even “impossible”. (This percentage was even higher amongst
women, and those over the age of 45.)

As noted, there is a big problem around what we’d call Skills Intelligence –
companies simply don’t know what skills they have and need. While a simple
database would be a good start here, there is also the potential to add AI into
the mix to help create a dynamic skills taxonomy and Job Architecture, to ensure
you could deeply understand your workforce needs at any given moment. AI can
even spot ‘adjacent’ skills that could allow someone to move into a seemingly
unrelated role and get up to speed pretty quickly – an excellent way to fill critical
skills gaps, and power agile Workforce Planning, while keeping employees
engaged and interested.

Of course, another hurdle is (bad) managers. It’s easy to hoard talent as a

manager, and see a move into another team in the same way as a resignation.
38% of our respondents said their manager was not really (or at all) active in
helping them find internal opportunities.

Beamery Talent Index Eighth Edition 9

04

Artificial Intelligence
At Beamery, we believe AI can play a big and important role in improving talent experiences,
for workers, leaders and HR teams alike. Indeed, 59% of our respondents who are looking
for work say that they noticed AI being used during recruitment processes – and 50% said
they had used it themselves to that end.

But how about AI at work more generally? 44% of respondents said that they had noticed It’s interesting to note some variations across demographics here. While 37%
an increase in the use of AI technology in their organizations (unsurprisingly much higher in in total said they were using AI (whether provided, and sanctioned, by their
the technology sector) – but just 15% said they are actually using it in their role because it employer or not), this rose to 43% in the US, 47% amongst men, 62% of
was provided by their employer. those aged 18 to 24, and 67% in the IT/Tech sector. With all the talk of AI’s
potential to level the playing field and democratize work – it seems we are
Are you currently using AI (Artificial Intelligence) technology within your current role? some way off.

There is certainly an appetite for AI, as a route to making jobs and working
life easier. 57% said they were in some way open towards using AI-driven
No 59% tools (21% said “welcomed” while 36% said they were open to using it but
had some concerns), but there are clearly some big challenges to overcome.
There are many apprehensions about AI’s potential impact on employment
and autonomy, as well as security fears.
15% 15% 7%
Yes – it’s provided Yes – but it’s not Yes – but not
by my employer provided by my sanctioned by my
employer employer 57% of people were open to using AI

Beamery Talent Index Eighth Edition 10

Which concerns, if any, do you have about the use/potential use of AI (artificial intelligence) technology within your organization?

I am concerned it will reduce

the human workforce
37%

I am concerned it could stop

people from thinking for 33%
themselves

I am concerned about
data security breaches
31%

I am concerned it will make

other roles/colleagues 28%
jobs redundant

I am concerned it will make

my role/job redundant
23%

I am concerned my salary
may decrease
19%

I am concerned about
copyright issues
16%

Beamery Talent Index Eighth Edition 11

How confident are you that you’re receiving the right training on developments in AI?

Employers getting to grips with the innovative new

technologies in this space would do well to emphasize
the importance of keeping humans “in the loop”, and
how AI can take on the more arduous or repetitive
parts of certain roles, and free people up to focus on
creativity, empathy and connection in their work.

There is also a knowledge and training issue. Just 35%

of our respondents said they were very or somewhat
confident that they were receiving the right training
on developments of AI. 36% of respondents said
they don’t receive any training on AI development
whatsoever – with this number jumping to 42% in the
UK, among women, and – worryingly – in the
Education sector.

14% 21% 14% 9% 36%

Very confident Somewhat Not hugely Not confident I don’t

confident confident at all receive any kind
of training on AI
development

Beamery Talent Index Eighth Edition 12

 Conclusion
The message for employers is this: technology can help you get more from your existing workforce, in
numerous ways, if it is applied correctly – and the training and communication is appropriate to staff, who often
feel confused and concerned at the pace of change.

People may be less likely to leave their jobs at the moment, but they are still hungry to learn and grow.
Connecting people to relevant development opportunities is a great route to retaining top performers – but it
also serves as a path to upskilling talent towards future needs, and filling skills gaps in faster and more cost
effective ways.

And “development opportunities” doesn’t have to mean training people on a totally new skill. The right
technology, with the right skills data, can help you spot areas where people may have potential or adjacent
skills that simply need to be unlocked. This is where it makes sense to connect disengaged employees with
projects, gigs or new roles in the organization that would be a good match for these latent capabilities.

To take advantage of upskilling, reskilling and talent mobility as ways to boost retention and productivity, you
need a better understanding of the skills you have and need, and you need to connect skills with the way you
design and structure jobs at your organization. AI can be really helpful here, to give you rich, contextual Skills
Intelligence that forms the basis of better talent-related decision making.

If this crucial step towards skills-based transformation is of interest to you contact Beamery today.

Beamery Talent Index Eighth Edition 13

RESEARCH METHODOLOGY
An online survey was conducted by Atomik Research among 6,009 respondents from the USA, UK, and Australia - all of whom were office workers.
The research fieldwork took place on 28 July – 3 August 2023. Atomik Research is an independent creative market research agency that employs
MRS-certified researchers and abides to MRS code.

About Beamery
Beamery’s Talent Lifecycle Management platform empowers companies to understand the skills and capabilities they have, build more agile workforce plans, and attract,
retain, upskill and redeploy their workforce.

For more information, visit the Beamery website, follow @BeameryHQ on Twitter, or email us at info@beamery.com.

This document and all its contents is the property of Beamery Inc. THIS DOCUMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL
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© Beamery Ltd. 2023. All rights reserved.

Beamery Talent Index Eighth Edition 14