London... you’re the tops

London... you’re the tops


It was only last month when we were celebrating London coming top in the student’s most desirable city to study in, and now? Well, London’s cup overfloweth.

‘Decoding Global Talent’, a report by totaljobs, Boston Consulting Group and The Network (a global alliance of 50+ leading recruitment websites), surveyed 400,000 workers across 200 countries to find out, amongst other things, their favourite global destination to work in. And they were:

1. London
2. New York
3. Berlin
4. Barcelona
5. Amsterdam
6. Dubai
7. Los Angeles
8. Paris
9. Sydney
10. Tokyo

And what put us at the top? 366,000 workers felt London was their number one. However, the same can’t be said for our UK-wide appeal, as we’ve slipped from 2nd most favoured country to fifth position since their last survey in 2014.

Not surprisingly, they are attributing this to Brexit, as the UK’s popularity has declined for many European workers (along with UAE and China), who are favouring the US, Australia, Germany and Canada as better places to work. Whilst the top five countries still favouring the UK, are English-speaking Commonwealth nations Jamaica, Barbados, Trinidad & Tobago, Ghana and Nigeria.

In terms of the professions who still find the UK more attractive than the global average, that was down to those in highly skilled and managerial roles (particularly legal, media and technology). Those who find us least attractive are social workers, manual workers and those in the service sector.

But how do our own UK workers feel about working abroad? Quite positively it seems. In direct contrast to the global dip in willingness to emigrate, more UK residents than ever are prepared to work abroad – in fact 62% of British respondents are open to working overseas (it was only 44% in 201). The highest increase anywhere in the world. However, since 2014, our worldwide work destination of choice has changed from the US (it’s still 2nd) to Australia. We also quite like the idea of Canada and Germany who came in 3rd and 4th restrictively.

And top of those most willing to move? 73% of our under 30-year olds would move abroad, 72% of those holding advance degrees would too and 67% of those from job roles related to IT, technology and research would be happy to as well. Let’s hope they don’t all decide to go at the same time!

Mike Booker, International Director at totaljobs and MD of The Network said, “While the UK may have lost some of its lustre, London remains the number one destination for talent worldwide post-Brexit. London’s enduring attractiveness does not appear to have been impacted by the European referendum, and the city’s cosmopolitan reputation as a welcoming, open city for overseas workers remains.

 “While international talent continues to come to London, UK workers are also broadening their horizons. With young employees and those with advanced degrees or tech backgrounds eager to move, the UK needs to look at how to retain this highly-sought after talent to address the skills gap.”

Nick South, Partner in The Boston Consulting Group’s London office said, “This research demonstrates the scale of the talent challenge facing organisations in the UK.  Despite London’s enduring appeal, the UK as a whole has become less attractive to international workers, with a fall from second to fifth place in the rankings. At the same time, British workers’ willingness to work abroad has significantly increased, from well below average in 2014 (44%) to above the average in 2018 (62%). This is the largest increase seen in any country globally.  Together, these two talent trends create a major challenge for the UK.  It is critical for UK private and public sector organisations to get on the front foot and proactively take steps to attract and retain top class talent to ensure their future success.”

Wednesday, 27 June 2018

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