Hiring Market Outlook for 2022
If there’s one thing we’ve learned about the labor market over the past few years, it’s to expect the unexpected. There’s no concrete way to predict what will happen in 2022, but we have some insights into what will likely impact the hiring market this year. Here are three trends to watch for regarding the hiring market outlook in 2022.
Labor Supply May Stabilize
In 2021, the demand for workers absolutely skyrocketed and significantly outpaced the number of available candidates. A record 4.53 million workers quit their jobs in November alone. Due to increased mobility in the labor market, job openings continually outnumbered those looking for work. This year, we hope to see the labor supply stabilize. As vaccination rates rise, COVID-19 risk may continue to fade. Additional factors such as increasing childcare options and decreasing financial cushion could also contribute to the stabilization of candidates on the market.
Remote Work Demand Will Continue To Increase
One of the lasting effects of the COVID-19 pandemic that will undoubtedly continue into 2022 is that of remote work. While the number of remote workers decreased throughout the year in 2021 from 23.2% in January to 11.3% in November, job postings for remote positions continue to rise. Employers are catching on to the benefits of remote and hybrid work environments, including better work-life balance, increased productivity, and lower overhead costs. Additionally, it expands the talent pool significantly, allowing you to better compete in a highly competitive hiring market.
Candidates Will Be In The Driver’s Seat
The candidates of 2022 are not the same as candidates of years previous. In past interviews, candidates tread lightly and avoided hard-hitting questions regarding salary, diversity, and paid time off. However, those days are long gone! No longer afraid to rock the boat, candidates are now in the driver’s seat and want answers. Don’t be surprised if these heavy questions arise early in the interview process. Job seekers will be juggling multiple hiring processes at once, and they’ll want to eliminate non-matches early on.
So, while there’s no surefire way to know what this year’s hiring market will hold, preparation will be key. Partner with JSG to tackle your staffing and consulting needs, and you’ll be ready for anything!