Taking a Closer Look at Business Trends for the Year 2022
Back to the office. Hybrid. 100% remote. The last two years have brought a great deal of turbulence and given steam to the remote working world. They have also added to mental health issues, stress especially around personal finances due to soaring inflation, and anxiety as a result of the state of the world. Trends do tend to come and go, but some stick around. Then a few become the new normal. So what’s going to be the new normal for 2022? We are not about to take a guess at that one. But we will offer some thoughts to ponder as we enter this new year.
The Great Resignation
What is up with that? When there are still literally openings in every business around the world, why are people walking away from their jobs? The pandemic revealed to a number of people that there is more to life than work. Many of us were working in excess of 40 hours a week, spending little time with friends and family, or on what we really love about life. Flexibility, work/life balance, and personal health are now taking priority over a paycheck.
However, this was bound to happen as the Baby Boomer generation began to leave the workforce. On top of that, most Baby Boomers who came from large families, had an average of 1.8 children, creating a deficit in today’s workforce. The US continues to have the lowest birth rates in its history.
Another phenomenon of the Great Resignation is the volume of women leaving the workforce. The COVID pandemic may have influenced a number of career-minded women into leaving careers to focus on taking care of families because they have become burned out from juggling both.
Hybrid and Remote Work Options
We’ve all read the statistics - at least 25% of the workforce will be working from their homes by the end of 2022 and 45% will be hybrid working, some days in the office and others at home. Both options come with concerns, so employers need to be mindful of how team members really feel about their working environment. Here are some tips to guide you as a leader as you navigate through creating a positive and productive hybrid or completely remote workforce.
Allow team members to get creative when blending personal, family, and work-life, as long as outcomes are met.
Support team members in setting their own work hours and workplace.
Set limits on meetings, and do not overuse Zoom. If it can be said in a message, do that instead.
Ensure team members have the appropriate tools to be successful, including computers and other devices, internet connections, adequate sound and video capabilities.
Set the entire team up for success by effectively utilizing remote tools and applications, cloud-based services, and effective IT solutions.
What Will the Future Look Like?
Hiring in the future will be different. Companies will need to compete for the best and brightest talent, and then fight to keep them. Leaders must offer internal mobility, professional development and learning opportunities, flexible work schedules including remote options, and be creative in offering benefits, such as including generous paid-time-off, time off to volunteer, personal wellness stipends, and even time off or flexible time to care for sick family members.
If you need to hire team members this year, start by evaluating your current work culture. Do YOU want to work there? Are your current team members happy? Are they consistently asking for new benefits, flexible options, or other perks? Are you actively involved in keeping tabs on your company culture and making sure your team members are satisfied? If you need some tips on company culture, we have some resources for you HERE and a prior blog, 4 Tips to Help Define Your Company Culture, you can check out HERE.