Journey to the future with Jobstreet
As economies around the world are kicking back into gear, employers around the world are rebuilding their workforces, generating a demand for talent who’re more adept in an increasingly digital world.
From The Great Resignation to Career Reconfiguration The pandemic has triggered an economic trend known as The Great Resignation, workers are voluntarily quitting their jobs due to shifting sentiments and perceptions. It is as much an exodus from work as it is a Career Reconfiguration. With the change of working models and digital transformation, jobseekers are in a better position to look at new jobs and negotiate better benefits.
Key shifts in the job market
What do all these mean to you? Employers are actively looking for in-demand roles in the job market, and there’s a corresponding rise in job searches too. However, according to our data, job applications are lagging behind job demand - what does this tell us?
Market uncertainties will continue. The repercussions of COVID are not over, people, systems, and processes are still changing. Employers need to focus on their core businesses and outsource certain aspects of their businesses to trusted partners. To attract and retain talent, HR departments need to rethink their strategies and devise a more flexible working model.
Strong job demand, weak job applications. Though the economy is recovering, employers have to contend with insufficient applications and rising talent acquisition costs. In a market that favours them, jobseekers will naturally gravitate towards employers that align more to their values. To remain relevant, employers need to build their respective employer value proposition to differentiate themselves from others.
Growing skill gaps in the job market. With some industries going through drastic changes, it’s increasingly challenging for companies to find talent with the right skill sets to fulfill their operational needs. To stay competitive, employers could consider initiatives to upskill their own workforce.
Step into the future of hiring with JobStreet We’re ready to navigate the changing employment market with you. Tap into our large and diverse talent pool of 5.2 million to fill your roles faster. Click here to learn about the values that we deliver as your No.1 Trusted Talent Partner.