A milestone year for HRForecast in shaping the HR landscape

In 2023 HRForecast team:

• Traveled to 122 countries
• Collected 189 million jobs
• Learned from 1.5+ million patents
• Extracted 4.6 billion skills
• Spoke in 97 languages
• But made 0 kg of emissions.

We hope 2023 was prosperous for you and your company. Significant advancements and innovations marked our journey this year, aimed at enhancing our employee-centric approach and providing cutting-edge solutions in the HR landscape. We accomplished many cool things in 2023 that allowed our customers to have better data for strategic decisions. More on that below!

In 2023, HRForecast embarks on a transformative journey, introducing groundbreaking modules and solutions designed to revolutionize human resources and talent management. Among these innovations are the Enhanced Learning & Development module and the smartData solution, each offering unique capabilities to foster a more efficient, insightful, and equitable workplace.

Our skill management solution underwent a major transformation this year. This year, we’ve expanded the module to allow employees to craft personalized development plans tailored to their unique career paths and skill requirements. This initiative ensures that employees can recognize and address their skill gaps. They receive comprehensive support from leadership, HR, and various company resources. This approach fosters a supportive and growth-oriented workplace culture, empowering employees to form employees’ careers and align company goals with personal goals.

If you’re interested in seeing how this feature works and how it can benefit you or your team, we invite you to book a meeting with us. Get an opportunity to explore the feature and discuss how it can be integrated into your organizational development strategies.

A significant milestone was the launch of our smartData solution, offering access to an astounding 1.6 billion job postings. This self-service feature allowed for in-depth analyses and insights previously handled by our team directly within the application.

With smartData you can:

• Get answers to your labor market questions
• Know better future-proofed skills for concrete job roles
• Exchange gut feeling with data-driven personalized insights
• Acquire better talent.

Future job profile insights integration

We’ve integrated job insights to understand future skills requirements. This feature provides skills profiles with information such as skills, duties, time to hire, and salaries, aiding in strategic decision-making for recruitment, considering factors like time to hire and salaries.

Are you interested in seeing how this feature functions and how it can be leveraged to enhance your recruitment strategy? Book a meeting with us if you’d like to see how it works and discover the full potential of our job insights integration.

Market insights

Our September 2023 release introduced an exciting new service for market insights. This feature allows users to compare their performance against competitors in key areas such as skill acquisition, hiring efficiency, recruitment trends, and future-focused skill searches.

Market intelligence helps you:

• Identify cost-saving opportunities
• Understand your strengths and weaknesses
• See where the competition stands globally
• Stay ahead of industry trends.

You can calculate the value of your potential return on investment (ROI) for your HR initiatives. During summer, HRForecast launched the ROI calculator. It’s designed to provide organizations with precise data for estimating the financial returns on their workforce investments. The ROI calculator enables HR professionals and business leaders to present convincing evidence to stakeholders, facilitating data-driven decision-making. It aids in effectively prioritizing expenditures and propelling business growth by demonstrating the tangible benefits of investment in HR.

See what future-oriented skills are relevant for this year and beyond. We covered skills from such departments. For example:

• Digital literacy
• Leadership
• Self-management
• Technology
• Interpersonal skills.

Regardless of their previous training or experience, every new employee must be introduced to the work environment and instructed to perform specific tasks. Therefore, the employee orientation program should cover the following checklist of items.

In 2023, HRForecast hosted a series of insightful and transformative workshops across spring, summer, and autumn. Each workshop addressed the evolving needs and challenges in human resources and workforce development.

On March 29, 2023, HRForecast showcased the new features of the smartData platform. The session highlighted unique, globally sourced data solutions tailored for enhancing business success.

During June 27-29, 2023, three customized workshops focused on empowering individuals and organizations to prepare for future workforce challenges. Over these three days, participants engaged in deep discussions and learning sessions, focusing on:

• Strategies to identify skills gaps and develop targeted solutions for long-term business objectives.
• Data-driven insights for effective talent acquisition and retention.
• Tools and frameworks for aligning workforce initiatives with business goals.

To access these valuable resources, please follow the link. It’s an excellent opportunity to comprehensively understand the strategies and tools needed to build a future-ready workforce.

• On October 17, 2023, Florian Fleischmann, CEO and co-founder of HRForecast, shared insights on evolving workforce planning and talent acquisition strategies. The workshop emphasized the shift from traditional job profiling to innovative methods backed by real market data.
• On November 29, 2023, HRForecast provided a recap of innovative solutions and features for the clients. During the workshop, Florian Fleischmann shared the plans for the upcoming solutions, features, and strategic approaches. Besides these insights, Dominik A. Hahn, Global Head of Group Talent Acquisition at Allianz, shared his experiences with HRForecast solutions.

Collectively, these workshops offered invaluable knowledge and practical solutions, helping attendees navigate the evolving landscape of talent management and workforce planning.

6th OJA (Online Job Advertisements) Forum in Berlin (December 5-6). This forum provided an in-depth look into the world of online job postings. Florian Fleischmann from HRForecast was among the speakers, discussing future trends and projects in online job advertising. This event allowed visitors to see HRForecast expertise in harnessing data from online job postings for strategic HR planning.

Invite the HRForecast team to participate and share our insights at your upcoming events. Our team is eager to contribute to discussions, panels, and presentations, bringing a wealth of knowledge and experience in HR analytics and workforce management.

In 2023, HRForecast has been at the forefront of generating insightful reports and engaging in meaningful collaborations within the human resources industry. These activities span a wide range of topics, from understanding the phenomenon of quiet quitting to exploring the future of learning and development and delving into the intricacies of people analytics and the impact of sustainability in the chemical industry. Here’s a summary of some of the key reports and collaborations from HRForecast in 2023:

HRForecast surveyed to understand the real reasons behind quiet quitting and, based on the results, shared insights into what keeps employees engaged. Feel free to check both evident and less apparent reasons behind quiet quitting in the research.

• E-book on the future of Learning & Development. We interviewed experts like Ross Stevenson, Mark T. Fernandes, Allison Bauman, Bhavani Nandakumar, Nelson Sivalingam, Kevin M. Yates, and Matt Ash. Thanks to a collaboration with prominent Learning & Development experts, the HRForecast team gathered and shared insights into L&D KPIs, ROI metrics, future responsibilities, tools, technologies, and trends.
• Nachhaltigkeitsexpertise in der Chemie. The influence of sustainability on the chemical industry in the DACH region, focusing on the evolution of job roles and required skills raised in 2023. In collaboration with HRForecast, BAVC analyzed job postings to gauge the impact of sustainability on employment trends in the chemical industry. Check out why and how sustainability is pivotal in one of Germany’s key industries.

We worked on an e-book with insights from successful women in HR and people analytics like Cheska Samako, Elham Mirzahani, Tanu Dixit, and Mona Dubey. Learn tips for building a career in HR/people analytics and using data for business success.

In cooperation with HRForecast, Deutsche Gesellschaft für Qualität (DGQ) analyzed over 47K public job profiles during the post-COVID-19 period (2021-2022) and shared the insights on QM’s new landscape, IT & quality synergy, digital stagnation in QM, top hard and soft skills in demand. Follow the link to see all the insights in more detail.

Series of dialogues with people analytics specialists including Cole Napper, Madalina Banuta, Alanna Roesler, Roxanne Laczo, Dave Ulrich, Max Blumberg, Kathi Enderes, Richard Rosenow, Patrick Gallagher, Stephanie Murphy, Marc-André Lafrenière, Patrick Coolen, David Edwards, Christian Vetter, and Florian Fleischmann were published as interviews where we discussed the critical importance of people analytics in decision-making, talent sourcing, and employee engagement. The result of these insights will be an e-book we’ll release at the beginning of 2024. To stay updated on the release of our upcoming report, we invite you to sign up for our newsletter. By subscribing, you’ll be among the first to know when the report is available, as we will certainly announce it in our newsletter.

• Competency management insights. The collaboration between goetzpartners and HRForecast has culminated in a comprehensive exploration of competency management, with a strong focus on digital transformation and integrating data-informed strategies. This partnership combines HRForecast’s innovative methodologies with goetzpartners’ actionable insights, offering a unique perspective on modern competency management. The outcomes include a detailed vlog recap and study insights, providing valuable knowledge and guidance. We invite you to delve into these findings to enhance your understanding of the evolving landscape of competency management.
• Porsche Consulting’s study on workforce management. The collaboration between Porsche Consulting and HRForecast resulted in an insightful study on workforce management. This study provides an in-depth analysis of the global labor deficit, emphasizing its impact, particularly in Germany. It also explored strategic workforce management practices in today’s business environment. Find more insights in the report.
• The Future Skills Report Chemistry 2.0. The report is a comprehensive guide for chemical and pharmaceutical industry stakeholders, focusing on the German market. It’s interactive and continuously updated, offering the Future Skills Tool for regular data updates and a dynamic website for ongoing insights. It covers various aspects, including sustainability, and aims to assist stakeholders in strategic workforce planning by matching external data with internal company data. The FSR 2.0 is a critical tool for understanding and adapting to the industry’s evolving landscape, ensuring businesses and employees remain competitive and prepared for future changes. The report will be published in 2024. Interested in our upcoming report? Feel free to subscribe to our newsletter for an exclusive update on its release.

As we move into 2024, HRForecast anticipates more exciting collaborations. We’d also like to invite you to join us in discovering more insights about the labor market. Stay tuned for our upcoming reports and cooperation.

• Global labor market review with a special topic on how ChatGPT impacts the labor market
• Global labor market review with a special topic on risk management within banking
• Global labor market review with a special topic on the race for skilled labor in the heat pump industry
• Global labor market review with a special topic on skills shortage in the semiconductor industry
• Global labor market review with a special topic on the most in-demand cybersecurity job titles
• Global labor market review with a special topic on hot jobs around climate change
• Global labor market review with a special topic on Currywurst: From Berlin’s streets to the global labor market
• Global labor market review with a special topic on the travel & tourism industries

From February to September 2023, the global labor market experienced several notable trends and shifts. Here is an overview based on the monthly reports:

• Fluctuations in job postings. Significant fluctuations in global job postings occurred, with notable peaks and troughs throughout the months.
• Regional shifts. The U.S. labor market showed signs of cooling, while South America demonstrated robust growth. Europe experienced fluctuations but showed signs of recovery.
• Sectoral changes. High demand persisted in health and IT, with an emerging focus on specialized engineering, the heating industry, cybersecurity, and climate-change-related jobs.
• Job types. There was a noticeable shift in in-demand job types, including a rise in demand for roles like Warehouse Workers, Project Engineers, and Accountants.

These insights highlight the dynamic nature of the global labor market 2023, marked by regional differences, sectoral shifts, and evolving job demands.