The Biggest Job Market Trends In 2022
While 2021 has been the year of revival for several industries amidst the Covid-19 pandemic. The embracing of technology across sectors has grown, and companies converted their organizational strategies and designs to accommodate the new normal.
The need for skilling and upskilling reached a new high, with an increasing number of recruiters on the quest for expert professionals, in the wake of the Great Equivocation and the employment extremity in India.
“The year 2021 was definitely a year of recovery. As we step into the new year, we are optimistic about paving the way for better employment opportunities in 2022. The future of work is location-agnostic and hybrid, with increased skilling initiatives being undertaken by both employers and employees. Further, leading tech-enabled industries such as IT, FinTech, BFSI, and crypto will continue to flourish with talent demand spikes,” says Mr.Sekhar Garisa, CEO, Monster.com. “It is also interesting to note that employee flexibility would be critical towards retaining talent in the future, and the Great Shuffle is a reinforcement of how the huge demand in the jobs market is opening the door for employees to select a career of their choice,” he added.
But now that 2022 is here, let's take a look at what to anticipate when it comes to job and hiring trends in the time ahead.
Candidates’ Preference for Hybrid or Remote Work
A survey conducted by FlexJobs found that 58 people wanted to work at home permanently after the pandemic and that 39 wanted a hybrid climate. Studies have also shown that remote workers are more productive than in-office staff, and that remote work openings mean that companies can hire from a further different pool of talent.
Especially as COVID-19 variants arise and extend lockdowns in colorful countries. Indeed, it’s lower of a trend and further of an endless change.
Candidates will adopt remote and hybrid work options as normal when they apply for positions, while companies need to provide flexible and home working options if they want to attract and retain talent. Some candidates will prefer the office, some may want to work at home, and others might need a blend of both – and the companies will have a board for this need.
Different Kinds of Work
Not only remote work will be on the rise, but there will be more options or kinds of work for candidates to choose like contract work, project work, and one-off commissions, and many are finding self-employment as a better option for them than conventional employment. The gig economy is another big deal now. Companies will have to accommodate a far more varied kind of job request as many prefer flexibility these days, and traditional salaried and hourly positions may not serve the need anymore.
Candidates Who Know Their Worth
In 2021, in certain sectors, there were more job vacancies compared to candidates. This put candidates in a position of bargaining power. In 2022, It is anticipated to have added job openings as companies are trying to develop and raise back from the pandemic.
Further, candidates now realize their worth in the job market, and this trend will continue in 2022. When combined with increases in living costs, we can expect to see candidates demanding higher pay than they may have done in the past. So, to attract the best talent, companies will have to offer additional financial incentives.
Employees Expecting Better Benefits
Companies are not only expected to provide a good salary but also to give a broader range of employee benefits, too, and ascertain that the company will see that the employees contend. These employee benefits include wide-ranging medical content, for better internal health support, and employees will also demand an advanced approach to maternal leave and remote work flexibility.
Automation and AI
The ever-adding influence of technology, big moves to remote work, and added stress on lower workforces denote that further companies will look towards Automation in 2022. And, to meet that need, companies will turn towards associations that supply automated services.
There’s formerly an abundance of substantiation of this in human resources. Loads of third-party software packages are available that can automate numerous of the procedures involved in staff recruitment and operation. In 2022, anticipate further procedures beyond HR to get automated, accordingly jobs get quicker and effortlessly. Artificial intelligence will go hand-in-hand with increased automation because AI and machine learning can be used to enhance perfection and result in those automated tasks. With this growth in automation, companies will be faced with a choice to reduce the number of managers or revise the expectations of what it means to be a manager. Organizations that opt to alter the expectations for their managers will require to change managers' mindsets and skillsets from managing tasks to managing the full experience of employees.
Companies that want to attract and retain staff in 2022 and offer good pay, extended benefits, clear diversity initiatives, and friendly environmental impacts, but that’s not all. Candidates now look for companies that are in line with their morals and values, so it’s all-important for businesses to emphasize their mission and culture in job adverts.
A crucial trend in 2022 will be bigger attention on company culture in job adverts and beyond. After all, it’s a seeker’s request, and further staff members want a place to work that’s satisfying and reflective of their values. Companies will have to respond to these if they want to keep clients, attract manpower, and remain successful. Most people will prefer to advocate for businesses that take their environmental liabilities seriously.
We’ve been living through the topmost workplace disruption in generations and the pace won't decelerate down. What will change is how flexible that disruption becomes. In 2022, leaders and companies will be required to master how to prosper in a period of disruption that plays out inversely across their associations.
Job Booster India is in constant touch with candidates from various domains, understanding their pulse and need. So accordingly, JBI orients and places these candidates in organizations that match their expectations and values. Need advice in enabling a great recruitment process and attracting the right talent? Get in touch with us!