Workforce Trends for 2022
As we begin a new year, COVID-19 continues to pose challenges for employers around the world. It had forced the companies to reevaluate how they work and perform for the foreseeable future. Now, two years in, many of the changes that were prompted by the events of 2020 and 2021 are here to stay.
Companies have adapted and learned to navigate through this and many are operating with a greater sense of certainty and stability today than last year. They have put in place systems and worked around the problems to be able to work without many hiccups.
We can’t predict the future to the core, but we can make solid predictions on the workforce, hiring, and other trends we expected to see in 2022.
WFH or rather Flexible work is going to stay.
Remote work has become the norm for many employees. With the right tools and technologies, organizations have the ability to stay highly connected. From messaging apps and video calls to virtual whiteboards and project management software, remote workplaces are continuing to communicate and collaborate, even from afar.
Many businesses with physical workspaces have implemented hybrid models, where employees are in the office on certain days or have the option to come and go as they, please. Employers have become much more accommodating to this idea as they see the benefits outweigh the cons.
In fact, many companies have downsized their physical office spaces, reducing their running costs. So it’s a win-win for most companies.
The increase in remote work has also prompted many businesses to start considering out-of-market job candidates who are extremely qualified but too far to commute. This has allowed them to tap into a much larger pool of candidates, making the market for some jobs more competitive than in years past.
Virtual hiring is not going anywhere.
The virtual hiring practices that many companies were forced to adopt in the earlier days of the pandemic are here to stay. It’s no longer uncommon for candidates to get a job offer without meeting any of their prospective teammates in person.
While some candidates and the HR team would still prefer Face to Face Interviews, the process of that has become a tiring one as Virtual hiring is more efficient and Quick. The Larger pool of candidates from various geographies makes you hire the best.
Job opportunities are rising, with Tech booming.
India’s job market was booming at the end of 2021 and even surpassing pre-pandemic levels of growth. The Economic Times reported that annual hiring activity in India increased by 43 percent in October 2021, compared to October 2020.
Hiring activity has picked up across a wide range of industries, but tech jobs in particular are driving much of the surge. The IT sector experienced the most significant year-over-year job growth with an 85 percent increase, followed by the telecom/ISP industry at 84 percent and the retail industry at 51 percent.
Additionally, the hospitality/travel sector experienced a 48 percent increase in jobs, while jobs in education/teaching rose by 41 percent. The banking/financial sector increased hiring activity by 39 percent.
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