Over the last two years, there has been a lot of talk about The Great Resignation, quiet quitting, and the job seeker’s market. The signs all point to workers’ immense power in this economy. Even as we see the effects of inflation and challenges in the workplace, employees still hold many cards. Here are the four signs that employees still have power.
Remote Work is Still a Big Draw
Some companies are beginning to ask employees to come back to the office. While some prefer the workplace environment, others are opting out. Since remote work is still a big draw, some current turnover organizations see talent moving to other companies that are still offering work-from-home schedules. It’s essential to consider this balance when making policies moving forward and whether you’ll consider remote work or hybrid schedules to attract and retain talent.
Job Postings Have Slowed but Not Dropped
Some analysts believe that the job market is cooling, but this has only had a slight effect. As The Great Resignation continues, there are still more open jobs than available talent. This means more competition in the employment market. While job postings are beginning to slow, it still hasn’t reached an equilibrium or tipping point.
Big Market for Career Changes
Many people are using this time to determine if they are on the right career path. If not, the market is a perfect opportunity for changing careers. Candidates are leaning on their transferable skills to find opportunities in other areas as employers are still combing for talent to add to their rosters. Hiring for potential has never been more critical.
Wage Increases
In the era of quiet quitting, employees feeling disrespected are less likely to go above and beyond in the workplace. They’ve also learned that the compensation increase provided by raises is often significantly less than the new salary they can get from finding a new job opportunity. Companies need to look at how they allocate raises, how they provide meaningful work, and how to express gratitude on the job.
Do you want to tap into a broad candidate pool? Contact the team at Nextaff to learn more.
