Worldwide recruitment news

In the last few years, the world of recruitment experienced turbulent times and various changes along the way. From adjusting to hiring and working remotely to sky-rocketing recruitment in some industries and huge lay-offs in others, hiring managers and companies (so did we!) had to adjust radically in the fast-paced environment. So, what’s next in the recruitment world?

Deel, a Global HR platform and tools provider, just announced their latest Global Hiring Report, which analysed last year’s data from over 250,000 worker contracts in 160 countries. The report provided a great summary of what happened last year and interesting insight for the upcoming year. 

Below you can find some interesting insights: 

1) Is hiring really slowing?

The current economic outlook has led to larger layoffs and lower starting salaries in more developed countries. However, hiring isn’t slowing everywhere! In some places, it’s actually rising due to the fact that companies now look more internationally for skilled talents.

2) Layoffs have increased

Last year saw an increase in layoffs. At the beginning of the year, the contracts that didn’t end voluntarily amounted to 28%. At the end of the year, the number jumped to 42%. Employees in the US, Mexico, UK, Spain, and Portugal saw the greatest increase in layoffs, with product & marketing roles being most impacted.

3) Cross-border hiring continues to grow 

Despite the increase in layoffs, cross-border hiring is still growing. Who is on the top? Asia-Pacific region companies are hiring fastest, and Latin American talents are being hired fastest! The US, Philippines, Argentina, UK, and India, also showed a high global demand.

4) The top cities for remote workers

The top cities, if you are a remote worker, are:

1. London 
2. Toronto 
3. Buenos Aires 
4. Madrid 
5. Bangalore 

Bangalore, in fact, overtook San Francisco!

5) The most hired roles

The most hired roles last year were:

1. Software Engineers & Developers
2. Product Designers
3. Product Managers
4. Quality Assurance Engineers
5. Project Managers

6) Compensation

Compensation dropped in the US, Netherlands, Mexico, and Argentina.

Starting salaries in Dec 2022 were lower than Jan 2022 for accountants, customer support, consulting, product & design roles.

However, on average, starting salaries are increasing in developing countries – such as Brazil, India and the Philippines for content creation, operations, and finance roles. On the other hand, engineers, or software developers in developing countries earn around 28-29% more working for international organizations.

7) The withdrawal is up globally, with USD payments rising ~2% in 2022

Some workers leaned on the strong currency more than others. The biggest USD withdrawal jumps were in Georgia, Bolivia, Belarus, Kazakhstan, and Turkey.

Find out more in-depth insights and predictions from Deel’s report here.