As the pandemic continues to fade, interest in work-from-home jobs has begun to rebound. Interestingly, interest in positions that require on-site activity like personal care and home health, manufacturing, and loading and stocking have dropped.
That’s likely because people are now seeking more diverse kinds of jobs that provide value, equal rewards and a flexible work environment. Here are six of the most significant job market trends to watch in 2022:
1. Social Media Recruiting
Social media recruiting has become the go-to recruitment method for many companies, ranking ahead of job boards and ads. Candidates and employees share jobs they’re interested in on their social media accounts, generating interest among their friends and connections.
The rate of people voluntarily quitting their jobs news fell to pre-pandemic levels in July, suggesting that hiring has resumed at a normal level. The leisure and hospitality industry, which was a poster child for the quits boom, saw the biggest decline in voluntary departures.
Flexibility will continue to be a big trend in 2023, with more companies offering flexible work schedules and remote work options. This will also be true for different kinds of work, including contract work and freelance jobs. This flexibility can help employers meet worker demands for higher wages and more security.
2. Hybrid Work Models
With COVID-19 fading from memory, it’s time to look forward to what job market trends will emerge in 2023. From new ways to recruit and flexible work models, it’s important for companies and recruiters to stay on top of the latest developments.
One trend is hybrid working models. This is when employees choose to work from home a few days a week and come into the office on other days. The idea is to provide flexibility for employees and allow them to focus on work when they are most productive.
Some organizations are even instituting fixed hybrid work models in which employees go into the office on specific days. This allows them to focus on important projects and still gives employees the option to work from home.
3. Four-Day Work Week
The four-day work week might seem like a faraway dream, but forward-thinking companies are making it a reality. Those that have tried it find their employees are happy and productive, and some even say they want to stick with the shorter schedule.
A Bankrate survey found that Gen Z and millennial workers rank flexibility (including flexible working hours, more time off and remote work options) as their most desirable job perk, ahead of higher pay. The labor shortage and the ability to telecommute have also opened up career opportunities for younger employees that they might not have been able to explore before the pandemic.
Meanwhile, the number of job openings is falling as companies continue to struggle to find enough workers. That decline may be a sign that the labor market is starting to normalize, although it is still far from full strength.
4. Remote Work
The pandemic catalyzed a shift to remote work, and the trend continues to spread. Companies can save on office space and commuting costs by offering remote options, and job seekers appreciate the flexibility and convenience.
Computer and IT are the most popular industries for remote jobs, followed by marketing, accounting and finance and customer service. But even sectors that rely on physical offices, like health and medical, can adopt remote work models thanks to digital tools.
The gig economy is also playing a role in the increase in remote positions, as is “quiet hiring”—promoting existing employees to new roles and expanding their scope of responsibilities rather than taking on new hires. This helps businesses retain top talent and ensures they have the skills necessary to respond to market changes.
5. Flexibility
Workplace flexibility has become less of a trend than an expectation among job seekers. People want to be able to work from home or have a hybrid environment. Companies that can’t accommodate their employees may lose them to the competition.
Despite a drop in interest in jobs that require a lot of travel, the number of job openings has returned to pre-pandemic levels. This is encouraging, given that it suggests the labor market has stabilized and cooled off from its pandemic-inflated peak.
It also suggests that workers have regained confidence in the ability to find employment and are no longer seeking a one-time catch-up. This could help temper wage growth, a key concern of the Fed. This may also encourage employers to adopt more cost-saving measures such as automation and a four-day work week.