The job market is an absolute mess right now and that’s an undeniable fact. Thanks to many factors negatively impacting several industries, it’s been a chaotic time for employees and business owners to set things straight.
While it’s a complicated issue that cannot be easily trimmed down to just a few statements, there are already a few clear-cut signs as to why the job market is the way it is nowadays.
The employment scene is definitely in a rough patch — and this is a situation that no one wants to see. Let us try to pin down the reasons why the job market has gone haywire in recent times.
Mass Layoffs
Just recently, the Microsoft-owned company LinkedIn announced that it was letting go of a whopping 668 roles across many of its departments. This scenario is just one of the many similar instances of significant restructuring in major companies and organizations.
With the job market tightening down with mass layoffs being more common than ever, some factors that can be blamed for the downtrend include economic pressures and the rise of more automated services such as AI.
Lack of Salary Transparency
No one wants to be lowballed when it comes to their salary. After putting in the hard work to get the job done, all we want is to get fair compensation for our services. This is not always the usual scenario.
For the longest time, several hard-headed employers have refused to disclose the salary they offered for a job posting. While laws are being made in order to fight this, the statistic of companies resisting salary transparency is still glaring. Of course, this is a major turn-off for employees and is detrimental to the job market as a whole.
Quiet Quitting
The lack of communication between the employer and employee can also be seen with the rise of the ‘quiet quitting’ trend. Basically, quiet quitting is when employees work the bare minimum when performing their jobs — just doing barely enough to keep their jobs without quitting.
One common reason why this occurs is when workers feel that they are not being compensated enough. If the company isn’t putting in the effort to make work worth it, why bother?
Being Asked to Return to the Office
The COVID-19 pandemic opened up the possibility of hybrid work schedules. Businesses still being able to operate even outside of the office was a game-changer for many employees.
So, the increasing number of companies requesting employees to come back to work on-site is a huge bump in the road for both current workers and potential job-seekers as well.
These are just some of the many reasons why the job market is an absolute mess right now. Let these reasons be a motivator for companies to treat both their current employees and future workers well with fair compensation and a healthy work setup being the utmost priorities.
By Neil Gregorio
Neil Gregorio is an advertising copywriter who writes as a hobby; when he is away from the keyboard, he spends his time watching Japanese animated shows and jamming out to his favorite rock music.
LinkedIn: https://www.linkedin.com/in/neil-gregorio/
Portfolio: https://www.clippings.me/neilgregorio
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