LinkedIn COO on 'The Great Reshuffle'

back to those offices full time after all. Is Dan Shapiro, chief operating officer for LinkedIn. He joined us now on the phone from Palo Alto Dan. How you doing good? Thanks for having me on. Yeah, thanks for joining us and thanks for coming on. We really appreciate it. Hey, let's talk that revenue growth from last year. What is

working so well for you at LinkedIn? Well. LinkedIn is a platform for helping companies and professionals build relationships, and I think if there's anything we've learned over the last year is that we need as a society and as a business community to be able to build relationships as

the world increasingly moved digital. Whether that's how companies build relationships with their customers or employers build relationships with talent, whether that's their exist employees or future employees, and all of that transitions leading to more and more power of

the Lincoln Platform to help companies solve problems. And so, Dan, I'm curious to hear if you think that people change the way that they use LinkedIn during the pandemic, because just speaking personally, I can think of so many friends who really thought critically about their life and career and what kind of career they want to have, and they use LinkedIn for it. I mean, have you seen more people looking for jobs on the platform or just starting conversations.

We're absolutely in a time where professionals everywhere are thinking about what they want from their career, how they want to work, where they want to work, and it is leading to something that we're seeing called the Great Reshuffle. We're both companies and professionals are reassessing a number of ways in which they've been working for a very long time. And so in a time like this, you're seeing more exploration.

You're seeing greater curiosity about different kinds of jobs. And one thing in particular that we're seeing is both companies and professionals considering remote work options. If you actually go back in time before the pandemic, only about one and a half percent of jobs in the US on LinkedIn how to remote option Now fastwards today that numbers over eleven percent and over a quarter of all applications on

their platform are going to remote jobs. And that's part particularly the case in some of the most highly skilled roles, like in tacker and media. Hey, Jan, help us understand you know this data more because you guys have such a granular view of what people are interested in, the

types of jobs people are interested in. Is there much more interest around a company that offers a hybrid or a remote position rather than one that says, hey, this is in office, Like, are you seeing a quantifiable increase in the number and quality of candidates going for that job? There's no question, uh, For seven percent of professionals in the US want to work in a role where they can be remote or hybrid at least half the time.

And we're seeing in particularly in skill sets that are in high demands, that are employers are adjusting their policies to be attractive to those kinds of professionals. So the number of jobs that have a remote option has gone up materially. Roughly one fourth of all jobs in the US in tech and in I T services are now remote enabled. And we think that that's going to continue because those are the skills that are in high demand, and that's what many professionals now have come to expect

from their employer. And curious, I mean you mentioned you expect this to continue. I mean, is this a permanent change though? I mean, in reading all of the headlines on the terminal about the real estate story we just talked about, because people moved to the suburbs. Yeah, yeah, So building on that that, you are still seeing this push into the suburbs. Maybe people will be able to stomach a two hour commute if it's only done, you know,

two or three days a week. But I mean at a certain point, does this fade in five years time? I mean, would you expect that companies are still offering hybrid situations? Is a perk of sorts. What people want is flexibility, and that's going to mean different things different people. For some people, flexibility is going to be about balancing

home and work. For some people it's going to be about physically where they live and where they have their lives how do they live in a place that's either closer to family and friends or to the activities that they care about. Um, and that expectation of flexibility is going to continue, and we think it's gonna be most prevalent in the skill set that are in the highest demand. So think about technology jobs or media jobs. Um, these are the roles where media jobs are in high demand.

Hold on, talk about that. Are they are they do? Media jobs in high demand? I mean, we hear so much about the media industry just and look, there are a lot of new new media properties launching. But talk a little bit about that in just the last thirty seconds, and then we're gonna come back with you. Yeah, I

mean media and marketing generally the entire economy. UM. I'm sure that there are pockets that have different dynamics, but you are seeing that roughly one fourth of jobs in tech and media are offering now a little mode option on LinkedIn. Dan shapperro Jan Shapira, sit tight with us chief operating officer at LinkedIn. Hang with us, because we are going to be coming back to you in just a few minutes. We're gonna do some news. We're gonna check how the business day wrapped up and get right

back to you in just a couple of minutes. That's Dan Shapiro, chief operating officer at LinkedIn, joining us on the phone from Palo alto, Yeah, Katie, I think the the big question that I have is to what extent it is? The one you asked is how long is this remote work or hybrid work environment? Is it going to be like that in five years? Exactly? Ton of momentum around it. Now, curiousity does not actually last. You're listening to Bloomberg Business Week, and this is Bloomberg Radio.

Let's get right back to Dan Shapiro, chief operating officer at LinkedIn. He joins us on the phone from Pala walto, Hey, Dan, it was so interesting. I don't know if you heard what Katie said about remote work being the new foodsball table in the sense that it's it's a real perk um. I completely agree with that and the idea that managers need to be thinking about the best ways to attract

and retain talent. Because if there's one thing that has emerged when it comes to the way that my friends and uh like my friends really they are thinking about over the last year and a half. It's really about their careers. And we're having this issue right now with

managers all over trying to attract and retain talent. What are the lessons that you can take away and give to two managers who are listening right now about the data in the data that you see at LinkedIn, about the best ways to attract and retain talent at a time when even even though the labor market is not tight, it is tight right well, I think we are seeing the labor market get tighter over the last quarter and

into the coming quarters. You're seeing that the resurgence and certain parts of the economy is leading to very aggressive hiring in certain sectors, and that is actually ahead of people's general willingness to change jobs. Right now, many people have been and some continue to be what they call shelter and job where because the environment's uncertain, they tend to stick to what they are doing. But almost that every research study you see speaks to the fact that

many people are considering a change. So the question is, how do you make sure that if you have a member of your team that is thinking about change, how do they make sure that they're exploring changes within your organization or within your team as opposed to outside, and they're going to get to questions like how do I want to work, where do I want to work? Do

I work at accompany that aligns with my values? Or what important to me um And we continue to find that the employers that are getting the most attraction from Kennedy's, particularly those and highly skilled jobs, are the ones that are answering those questions and realizing that their employer is aligned with what they want to accomplish in their careers. Hey, Dan, I'm curious if this is particularly prevalent in any specific industry.

I mean, obviously there are some jobs where you can't work from home, you can't do it from your basement, but there's a lot of jobs in corporate America that you can. So I'm curious, Uh, where we're seeing that the most. If you look at the landscape of the American workforce, it is happening quite a bit in higher demand job segments that can be done remotely. At the end of the day, what people want is flexibility, and that means a variety of difffferent things for different for

different folks. For some people, that's more flexibility about how to fit their home and life together. For some people, it's about coming into the office not to do work, but to collaborate indoor community with their colleagues. Um and that's leading to changes and things such as rethinking what

an office looks like. Two thirds of executives are reconsidering their physical office space layout by virtue of what's been happening, thinking even more of a place for people to come together and collaborate as opposed to people sitting at their decks and doing one on one work. So there are so many changes that are afoot, but we so far see that this is a trend that is very clear and it's going to become the most prevalent in the

highest demand skill sets. Hey Dan, a few of our colleagues spent the weekend dropping their kids off at school for the first time at college. As students in the United States go back to school and begin their time in university. Based on the data that you have at linked in, what should these students be thinking about when it comes to how they should think about their majors

and what they're going to study. What are the areas so when they get done with school, when they graduate, they're not saddled with debt that they can't pay back because they can't find a job that pays enough. There's a general trend that's happening in that we're a big believer in at LinkedIn of taking a mindset around skills

rather than degrees. And so the question that I would ask, uh, you know, your your friends, kids, or other people that you know, is what kind of jobs are you interested in? And maybe they haven't figured that out yet that they can start to explore those ideas and what skills are important to employers in those categories. And so then rather than think about a major or a degree, think about skill sets and how they build evidence of those skill sets that they can showcase to employers as they come

into the job the job force. And so, Dan, I want to ask about the business of LinkedIn, the company itself. So I like to mentioned earlier you recently had ten billion dollars in revenue. I'm curious how much of that is just in the US or what does the landscape look like abroad when it comes to LinkedIn. Well, LinkedIn is a business is our membership is to through us

R three quarters outside of UM the United States. Person in the United States was a very global platform and roughly half of the businesses international as well, and we're continuing to see international and global engagement via fundamental part

of how we grow linked In. At its core, LinkedIn is a platform for economic opportunity and we try to achieve that in a global basis, and it is something that we think is important, particularly an environment where um engagement between people around the world is a fundamental part of how business gets done. Dan Shapiro is Chief operating officer at LinkedIn. He joins us this afternoon on the

phone from San Francisco. Dan, thank you so much for taking the time and for chatting with us all about the latest at LinkedIn and the first fiscal year ten billion dollars in revenue.