Monday, September 25

The 20 trends that will mark the labor market in 2022

Although labor markets are dynamic and changing, the COVID-19 pandemic has prompted organizations to pay immediate attention to different practices. In this research, ManpowerGroup points out the 20 trends of the 2022 landscape that are driven by the following four axes:

The first focuses on what the workers want. Labor flexibility, competitive wages, good working conditions and skills development is what all employees demand, from the production line to those who perform home office. In addition, the demand for hybrid work models will continue to rise as people intend to stay on the positive side of the pandemic. In turn, mental health, employability, personalization and well-being will be the new priorities that will require employers to be more explicit when it comes to demonstrating that they are really addressing these axes. The challenge will be to reinvent the hiring and onboarding of employees to the new digital world of work.

The second refers to the talent shortage. Demographic changes, the drop in the birth rate, less cross-border mobility and the increase in early retirement have meant that 69% of employers in the world cannot find the profiles with the skills they need. In this regard, the research indicates that organizations will need to be even more creative in attracting, upskilling, and retaining valuable talent. To do this, they will also have to establish positions regarding social issues and act in a visible way in terms of diversity, equity, inclusion and belonging so that everyone can benefit from the economic recovery.

The third axis puts the focus on the technology acceleration. Investment in digitization has advanced rapidly as a result of the pandemic, and both consumers and employees expect this phenomenon to make their personal and work lives easier. In this context, one of the challenges presented by the research is to strengthen the connection that people have with their jobs and colleagues, in order to achieve greater productivity and creativity.

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On the other hand, digitization is no longer a matter of technology. Currently, digital transformation requires an adequate corporate culture that allows adopting new technologies, achieving a rapid return on investment and advancing in this renewal.

The fourth axis focuses on the business reconfiguration and indicates that 83% believe that they need more speed to adapt to changes. Companies are becoming increasingly sophisticated, transforming, and seeking more agile operating models, more resilient value chains, greener, more established partners, and solutions to address competition, unpredictability, and transparency. Along these lines, the study highlights that 6 out of 10 organizations link ESG (environmental, social and corporate governance) objectives to their purpose and that regulations around climate action and zero emission commitments are increasingly common.

“Demand for skills is at record levels in many markets with high unemployment rates, while labor participation is stagnating. We are facing a scenario that requires placing the collaborator at the center of the strategy, ensuring that they have the necessary skills to adapt to this new stage. In addition, companies will have to go digital, not only to create and share value, but also to attract the talent they need.” indicates Luis Guastini, CEO and President of ManpowerGroup Argentina.

The report “The Great Learning” (PDF document of 28 pages, in Spanish) can be downloaded at this link. No registration required.

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