Workers in key economic areas are likely to continue to be in short supply in the coming years, according to a new report from Glassdoor and Indeed.
The multi-country report identified five key labor market trends that are expected to persist beyond near-term business cycle fluctuations. They are also likely to withstand a potential global recession:
- Tight labor supply. An aging population and demographic shifts will give workers leverage to demand change.
- Remote work. In occupations where remote work is an option, employers will struggle to fill in-person jobs.
- Benefits. The benefits that are most important to employees are shifting, and this includes compensation and perks.
- Happiness and well-being. Company culture can be a selling point to attract and keep employees.
- Diversity, equity, and inclusion. Employees continue to care deeply about DEI initiatives.
According to Aaron Terrazas, Glassdoor Chief Economist, the rapid changes of the past two years have had an impact. “Rising to the challenges of tomorrow’s workplace requires a more anchored approach to understanding the full range of employees’ wants and needs,” he said.