The labor market, as well as the entire world in general, is currently going through a tough time. As the Covid-19 pandemic continues, the predictions for the future of the labor market are quite controversial. Here are some of the predictions for 2022:
Remote work continues to thrive
We’re now two years into the pandemic, and the majority of people around the world continue to work remotely. Most employers agree that remote work does not negatively impact productivity and efficiency. Perhaps, it even improves overall performance. Some companies are even considering a permanent shift to remote work.
More employers are searching for employees worldwide
The aforementioned shift to remote work allows companies to hire professionals who hail from all over the world — helping outsourcing thrive. For example, according to Forbes, fewer than 40 percent of Silicon Valley tech company job ads were posted outside the immediate area in 2018. This proportion has now increased to almost two-thirds.
Labor shortages are here to stay
The unusual conditions we live in today lead to extremely tight labor markets. According to a National Federation of Independent Business survey, the share of employers with unfilled positions hit its highest mark ever in July 2021. At the same time, the share of workers voluntarily quitting their jobs and the time needed to fill open positions are also elevated.
The labor market is facing unprecedented challenges today. Many pre-existing problems have only gotten worse due to the global pandemic, which is why the necessity of the platforms dedicated to solving and alleviating some issues (such as WorkQuest), is growing.
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