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With quarter one of 2022 complete, it’s time to look towards quarters two and three. According to the US Bureau of Labor Statistics, employment rose by 431,000 in March with the unemployment rate declining to 3.6 percent. So what does this all mean for the job market as we enter into the spring and summer? Whether you are a job seeker or employer, here are some trends to take note for the summer of 2022.
Remote and Hybrid Work is Here to Stay
The pandemic brought remote work to the forefront. Many employers are quickly adapting to a hybrid and/or remote workplace. Additionally, many job seekers are seeking remote and hybrid employment opportunities. Remote work isn’t going anywhere. According to Zippia, 74% of companies are using or plan to use a permanent hybrid workplace model with 54% of employees stating they would leave their current job for a job that provides more flexibility, especially in regards to remote work.
More Value Placed on Benefits
The Great Resignation is also ushering in a new era for benefits. Long gone are the free in-office coffee, after hours beers, and ping pong table incentives. This is mostly due to employees no longer being in office. Today’s job seekers are looking for more tangible benefits. Some of these benefits include:
● technology stipends
● more or unlimited paid time off
● maternity or paternity leave
● affordable health insurance
● childcare stipends
● mental health benefits
● other health and wellness stipends
Diversity and Inclusion As Continued a Top Priority
Another trend that will remain prevalent for both employers and job seekers is diversity and inclusion being a high priority. The summer of 2020 cast a global eye on diversity and inclusion (DEI) in the workplace. Employers took an introspective look at their current diversity and inclusion efforts. Many employers hired Chief Diversity and Inclusion Officers to take over this initiative. According to BuiltIn, in 2020 only 33 percent of recruiters said job seekers asked them about their DEI initiatives, whereas today 49% of recruiters say that job seekers ask them about DEI initiatives.
Alignment Between Workplaces and Job Seekers
As work extends beyond the four walls of an office, workplaces are now seen as brands with employees reflecting this brand. With the unemployment rate low, job seekers can be more discerning when it comes to places they want to work. People now more than ever value a workplace that aligns with their values, beliefs, and purpose.
They also want to work for companies with good reputations. With websites like Glassdoor readily available, job seekers can easily get a feel for a workplace without ever stepping foot in the door or even accepting an interview request. According to Paychex.com, one study found that 86 percent of women and 67 percent of men wouldn’t work for a company that a bad online reputation.
It’s important to consider the above trends when either hiring or looking to be hired. Whether you are an employer looking to hire or a job seeker looking for your next place of employment, we can help! Contact us today to see how we can help you.