Is the Great Resignation Now Becoming The Great Rebalancing?
After the Great Resignation, now comes the Great Rebalancing of the employer-employee relationship. It might not be a time to lay back and feel too comfortable about the tight labor market. Even if you’re getting lots of messages from recruiters today, that could dry up pretty quickly if the labor market changes.
The Wild Ride
The Wall Street Journal reports U.S. workers’ wild ride is coming to an end. After three whiplash-inducing years of, first, professional vulnerability many people are returning to more typical levels of career security and leverage.
The Great Rebalance
Remember the post-pandemic frenzy? You know when people quit on a whim and there were two job openings for every person unemployed? Well, that was a one-off. In 2023, there will be less job hopping and fewer counteroffers. 2023 will likely see the demand for talent and the supply of candidates even out. Salary rises will be less common, too. Because of a shortfall of talent many employers have already increased wages over the past 12 months.
Talent Demands
Progressive employers will reinvigorate IRL workplace communication. Businesses must now determine things like how their employees’ priorities regarding work-life balance, and how things like emerging work models such as hybrid working, can meet the new demands for flexibility. Addressing these issues can have a positive effect on terminations. Though the demand for workforce talent remains strong, employers are being more selective in this challenging economic environment.
Job Markets
We should see the jobs market more likely to regain its balance in 2023. No more unsustainable levels of vacancies or talent shortages. With the correct number of jobs vacant for the candidates available, or certainly closer than it has been in the past year. While the U.S. civilian labor force has recently returned to pre-COVID-19 levels, it remains more than 4 million workers below the pre-pandemic levels.
Be Proactive
Now’s the time to take stock and improve working conditions. As the world continues to evolve into a post-pandemic status, many companies will shift in response to always ever-present changing industry demands. Be ready for the recovery when employees and candidates will once again favor those employers who create open, flexible, and healthy workplaces where employees can thrive.
Cardinal Staffing Services – Getting Jobs for 28 Years
Since 1994, Cardinal has been the go-to staffing company for automotive, logistics, manufacturing, industrial, skilled trades, office, and professional staffing. Our goal is to create a positive work environment for our employees, customers, and candidates.
Whether you are searching for great talent to fill open roles or you are looking for new job opportunities, Cardinal Staffing Services will help you achieve your goals. We have immediate job openings in your local area. Contact us today!