HCMC – ManpowerGroup recently released its 2022 labor landscape report, “The Great Realization: Accelerating Trends, Renewed Urgency”, which identifies the top 20 trends that will shape the world of work this year and beyond.
The report says the impact of the Covid-19 pandemic combined with the acceleration of digital transformation will continue to bring profound transformation to global labor markets. ManpowerGroup’s data, insights and global relationship with its clients, candidates and partners, reinforce that the structural changes and trends it has predicted for some time continue to accelerate but with greater urgency.
The top 20 trends mapped out in the report fall into four big movements of the 2022 labor landscape: what workers want, talent scarcity, tech accelerates, and companies reset. Each trend reveals valuable insights and suggests desired actions that employers or workers should take to respond to changes and win in the world of work.
Now, perhaps more than ever, people want their employers to offer more. They want their mental health and well-being prioritized, while also looking for purpose, flexibility, competitive pay, good working conditions and skills development.
Many people also expect a stronger stance from their employers on socio-economic issues. With nearly half of all workers (49%) saying they would move to an organization for better well-being, if a current employer fails to check the boxes their employees are looking for, they run the risk of people leaving for better working situations as well as more progressive companies.
Jonas Prising, ManpowerGroup Chairman & CEO, said, “The post-pandemic hiring recovery that has been underway for some time will continue to carry momentum into 2022 with employers predicting strong demand for talent across key sectors.”
The battle for talent is increasingly more challenging, with nearly 70% of employers reporting they cannot recruit enough people with the skills they need as a global talent shortage continues to impact organizations worldwide.
Meanwhile, 58% of all employees will need new skills to get their jobs done. Shifting demographics, including shrinking birth rates, reduced mobility across borders, and the rise in more people opting to retire earlier than anticipated, means talent is becoming increasingly scarce. Businesses must now get even more creative to recruit, retain, reskill and upskill top talent.
Investment in digitization accelerated, with over 80% of organizations accelerating their digitization efforts due to the pandemic. Consumers and employees alike now expect technology to make the way they live and work easier. With this shift, there is a new urgency for organizations to upskill their people to translate data into insights, make data-driven decisions and combine the best of human and machine learning for new value creation.
The pandemic laid bare several harsh realities for companies that had become too reliant on others to keep their operations running smoothly. In fact, 83% of organizations believe they need greater speed and agility to better cope with change. As a result, companies are becoming increasingly sophisticated, transforming the way they do business, and seeking nimbler operating models, more resilient supply chains, greener options, and more consolidated partners and solutions in response to heated competition, unpredictability and greater transparency.