The supply and demand of talent in the global blockchain field is out of balance

OKXthe cryptocurrency platform and LinkedInthe professional network, has co-authored a report highlighting the imbalance between supply and demand for qualified talent in the global blockchain industry.

The in-depth research, based on LinkedIn’s exclusive big data analysis, took data from 180 countries in the period between January 2019 and June 2022. It covers the blockchain sector, as well as sub-industries that include cryptography, quantum computing and distributed ledger sectors, as well as more than 15 other related sub-sectors.

The report reveals that as of June 2022, the supply and demand for talent in the global blockchain field is out of balance, with a shortage of qualified candidates. The total number of LinkedIn members working in the blockchain field has increased by 76 percent year-on-year, but the major countries that blockchain candidates have traditionally come from are experiencing negative talent growth. China, where growth is stable, is the exception to this trend.

Hyder Rafique, Chief Marketing Officer, OKX, said: “The results of the study we conducted with LinkedIn reflect our own ongoing search for great talent at OKX. We have previously announced that we will increase the number of employees by 30 percent by the end of next year, and this is still true. I am confident that OKX’s leadership among crypto exchanges, our willingness to continuously innovate and improve the user experience, and our certainty that blockchain and Web 3.0 are the future will allow us to continue to attract the best talent.”

The research also shows that the demand for core talent has shifted from being economically oriented to candidates with technical skills. In terms of the number of job advertisements, R&D specialists top the global demand, followed by information technology. Job offers for product management, marketing and human resources are not far behind. In terms of demand for recruitment, finance candidates are now ranked in sixth position.

Another challenge highlighted by the report is the short tenure of candidates and the high turnover rate. The LinkedIn Global Talent Big Data Insights The report shows that the average tenure of global blockchain talent is 1.2 years. The report also shows that in addition to the influx of talent from traditional finance and technology companies, the talent movement in the global blockchain industry is mainly based on intra-industry flow.

Linda Tsehead of global talent acquisition, OKX said: “As a thriving frontier industry that is influenced by the talent trends of the entire blockchain sector, the competition for high-quality candidates and the frequent movement of talent is somewhat inevitable. That said, OKX supports its strong focus on innovation, professional development, work-life balance and our mission-driven mindset our talent growth strategy. We received nearly 19,000 job applications in May 2022, and that number has only continued to grow.”