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2022 Job Market Outlook from That’s Good HR

2022 Job Market Outlook

Labor shortages, wage increases and remote work have defined the job market over the past year, and are only expected to grow as we move in 2022. This has created a market with wide-open opportunities for job seekers, but has created some challenges for employers in their hiring processes. Learn more about the 2022 job market outlook, and how we can help support you, from our staffing experts at That’s Good HR.

Remote work will continue to grow

As new variants of COVID-19 emerge, remote work is still a major consideration for employees and employers alike. Many Americans are looking to relocate out of expensive city centers in order to find cheaper housing in more residential areas. Due to utilizing so many remote workers, some employers may relocate or expand operations into cheaper markets as well. 

In addition to working remotely, many employers are still implementing remote hiring processes. If you are interested in learning more about making your hiring process remote-friendly (or preparing for a virtual interview as a job seeker), That’s Good HR can help. “Employers can reach out and fill us in on their staffing needs and priorities,” explained Mary Springer, Partner at That’s Good HR. “Then we’ll deliver a customized and strategic staffing solution using the latest in hiring trends.” 

Labor shortages and recruiting difficulties

As of the end of 2021, there is no sign that labor shortages will be changing any time soon. It is estimated that the unemployment rate may go below 3.5% by the end of next year — one of the lowest numbers in the history of recorded unemployment rates. COVID-19 and future variants could bring another wave of early retirements, meaning additional labor shortages. 

Of course, labor shortages mean good things for job seekers, like wage growth, lowered job requirements and improved benefits. But for employers, the hiring process is becoming more challenging. “We meet with employers one-on-one to understand their business goals, culture, and staffing needs,” said Greta Cline, Partner and CFO/COO at That’s Good HR. “From there, we start the hiring process to pinpoint a candidate and make a match that’s good for everyone.” 

Improved wage growth and job perks

With job seekers leading the market at this time, wage growth and job perks are the name of the game. Trends are showing that wages are expected to continue growing through 2022, “especially for new hires, and workers in blue-collar and manual services jobs.” Plus, inflation isn’t slowing down anytime soon, meaning that current employees are likely to see cost-of-living raises as well as overall pay hikes in order to match the salaries of new hires. 

Benefits and perks are another tangible way to showcase company culture to job seekers, but no longer does that mean nap pods and free snacks. Most job seekers are looking for better work-life balance, meaning flexible work schedules, mental health/wellness plans and paid parental leave. At That’s Good HR, we can help employers put into place the benefits that top candidates are truly looking for, as well as advocating for the best hiring package for our job seekers. 

If you would like to learn more about the 2022 job market outlook and how That’s Good HR can support you in the new year, contact us online or at 317-469-4141 today. We believe that you deserve to work with a staffing firm that has your best interests at heart!

We’d love to help you. Give us a call. 317.469.4141