The job market has been on a rollercoaster ride in the last two years. A lot is happening in the job market right now. Hybrid and remote working has become the new normal, the Great Resignation is crossing borders, and job opportunities are growing,
Thanks to the Coronavirus that has turned the world upside down, some for good but mostly not-so-good. With the Omicron and other variants, the situation is far from certain.
We did see some stability in the job market and workplaces in 2021 as companies learned to adopt the new normal. However, it is difficult to predict if this stability will continue in the next few months. We have identified a few market trends that might shape the job market in 2022.
Remote working to get bigger
One of the most significant discoveries of the pandemic was ‘remote working.’ The business world not only learned to adjust to it, but it also started to normalize it. With Omicron’s emergence, the remote working culture will get much bigger. The new variants of the virus are likely to push back the ‘hybrid working’ plans of many companies, and they may have to stay with ‘remote working’ permanently. This, of course, depends mainly upon the impact of the new variants.
Labor shortage to continue
Many recruiters feel that this year will be a job-seeker’s market. Last year, one of the most dramatic developments in the job market was the ‘Great Resignation.’ It is expected to continue crossing various borders this year. More and more employees are quitting jobs not only in search of sound money. They also want more job security, overall work-life balance, flexibility, and happiness at work.
On the other hand, companies are trying to meet their demands, grow their business, and expand their presence digitally. This has led to a labor shortage in various industries. The silver lining is that this would also mean that employers would be offering the best to attract the best talents.
Employees benefits take the front seat
This year, the companies are not only expected to offer higher salaries. They are also going to offer other perks and benefits to attract and retain the talents of their choice. The job market in 2022 is likely to be candidate-driven. Employees are now looking for work opportunities where their values and cultures are aligned with the companies. They value work-life balance more than ever. Therefore, the employees’ benefits will go beyond hefty pay packages and medical coverages. It will also include remote working, parental leave, flexible working time, basic infrastructure for home office, etc.