The Evolving Job Market in 2022
In the face of record job vacancies and skills shortages, the job market is changing rapidly and may need to be reassessed by employers to attract talent.
– Record number of job changes
According to the Office of National Statistics, 1 million people made job moves in the third quarter of 2021 and this trend is continuing through 2022. Job seekers are trying to take advantage of the increasing number of opportunities and higher wages on offer.
– Job postings have risen
According to Indeed, job postings are up 39% from 2020. Workers are particularly looking for remote roles and taking advantage of sectors with high shortages, for example, HGV drivers.
– Higher number of international jobseekers
More jobseekers are searching for jobs in the UK, particularly from outside of the EU. These jobseekers are mostly looking for jobs in higher-paid sectors, like tech, engineering, and healthcare.
– Higher wages
Some employers in certain sectors with significant skills shortages have had to raise wages to attract talent. However, this has not extended across the job market as a whole.
– Changing worker needs
Workers want different things from their employers now. This can create some difficulties for employers who hire a diverse pool of workers. Young people are more interested in knowing what their employers are doing regarding environmental and social issues as well as knowing that there are plenty of job advancement opportunities. Older workers are more interested in higher wages. “Employer branding” will be increasingly important for talent attraction in the future.