Corona crisis changes in the labor market were largely temporary, but some of them have managed to gain a foothold, becoming the new norm. Sustained changes in the labor market will continue to influence the recruitment process of many companies.

What Is Happening to the Post-Covid Job Market

1.     Hybrid Format

The ability to work remotely is one of the main characteristics of a lifestyle in a pandemic. Many employees do not want to return to the office: half prefer a hybrid work format, and half want to stay remote forever. Many companies have chosen a more flexible way of working for their employees in the long run. Forced self-isolation and remote work have led to the fact that the psychological barriers associated with working outside the office have disappeared among employees and they tend to check into cash jobs with a hybrid regime.

Remote work and distributed offices will continue to evolve. Companies that have learned to work in this way have gained great competitive advantages, and firms that have not adapted to the new reality will lose market share and the most professional people.

2.     Shortage of the Right Staff

A shortage of workers has also arisen in those areas where foreign workers traditionally worked. Their numbers have almost halved since the start of the pandemic. And in these conditions, many companies are faced with a shortage of personnel. In some areas, there is a hunt for skilled workers. This can be seen in the number of vacancies and wage growth. Employers are forced to change their attitude towards employees and meet them halfway in matters of a favorable working day, the opportunity to work remotely, and higher salaries. And this trend is likely to continue shortly.

Companies in this situation can have a very simple strategy: they hire specialists from other types of economic activity, where the number of applicants is higher than the number of vacancies, train them, and offer a decent salary so that they want to work in these organizations.

3.     Process or Result

Employers are still focused on improving efficiency, total control cannot achieve this – a person will decide that the company doubts them. Such an employee will quickly lose motivation and will start looking for a new job sooner. To prevent this from happening, the company must trust the employee, for example, provide them with the opportunity to independently choose time intervals for solving work tasks. Now the process does not matter, only the result is crucial.

What Is Happening to the Post-Covid Job Market

4.     Attention and Development

With the coronavirus, many companies have taken the well-being of their employees seriously. In their HR departments, some employees organize remote work, or units responsible for their well-being, i.e., for taking care of the emotional state of employees. In addition to the balance between work and personal life, when working remotely, prompt and regular feedback from the manager, support, and attention are essential.

Training is one of the main trends in the labor market. Due to the accelerated automation during the coronavirus epidemic, 85 million people will lose their jobs in the next five years. At the same time, the “robot revolution” will create 97 million new jobs. It is on the additional training of employees that the most competitive companies will focus their efforts.

5.     Fewer Travels

The spread of remote interaction formats, including the use of video conferencing, will reduce the need for employee travel, increase the demand for remote control and identification systems, and expand opportunities (including financial ones) for organizing virtual events (exhibitions, conferences, travel, training, medical consultations, etc.). The development of augmented reality technologies and communications of new formats (5G, 6G, space communications) will strengthen this trend. Lifestyle, in general, will likely become more sedentary, which will increase the growth of online commerce and online services.

 

The ongoing structural changes in the labor market, accelerated or caused by the corona crisis, make it necessary to conduct a more active labor market policy, which should be aimed at eliminating existing barriers, training and retraining personnel with a focus on the digital economy, development of soft skills, attraction of highly qualified personnel from abroad on a temporary and permanent basis.