It’s amazing to see the economy, job market and property market heating up so fast, when only a few months ago, we were mired in misery.
As the majority of people who held onto their jobs worked from home and sheltered in place, they didn’t spend money like they used to. The result is that a significant number of workers, who collected a nice salary, saved their money, many were allowed to work from anywhere and took advantage of schemes such as the Dubai remote work visa.
Many people invested in the stock market, cryptocurrencies and bought real estate. These assets appreciated in value.
These factors created more confidence in the future.
With economies recovering, we have been experiencing a hiring boom as the coronavirus pandemic recedes. Aside from the obvious surge in tech hiring as result of us all going online in 2020, we have also seen the hardest-hit sectors, which accounted for a huge part of the downsizing, benefitting from the great reopening.
Gyms, hotels, airlines, nail salons, shopping malls and other businesses will see an influx of customers. This prompted companies to quickly bring back workers.
For some corporate executives, it’s been hard for them to wrap their heads around this abrupt change in fortune. They’ve been used to putting on hiring freezes, downsizing staff and taking advantage of the employees’ fear of losing their jobs by pushing them to work longer hours and weekends while at home.
Well, the game has changed.
Hiring managers will need to roll out the red carpet and concede to the demands of those on the job hunt.
In light of the sudden need for talent, workers and job seekers have the upper hand. You will be able to find more jobs compared to six months or a year ago. Instead of ghosting candidates, recruiters will have to cater to them.
Hiring managers will need to roll out the red carpet and concede to the demands of those on the job hunt. If companies don’t appease the job applicants, they’ll go elsewhere, as there will be more opportunities.
It’s not a coincidence that leading tech companies, such as Amazon, Google, Microsoft and Facebook, have been building, buying or fitting out office spaces and encouraging flexibility. Companies such as LinkedIn give you a massage allowance!
The amenities are meant to entice people to get out of their homes and into the office, as it’s as nice, or even better, than being stuck in a small cramped apartment with noisy kids and glitchy internet connectivity.
Smart, forward-thinking executives will notice the tide change and immediately take action. They’ll put in place plans to attract and retain talent.
The companies that prioritise their employees and do everything in their power to make them happy and motivated will be the winners in this new upcoming era.
If you are searching for a job, it’s fair to ask for a flexible work schedule.
Prudential conducted a study in the USA earlier this year and it found one in three did not want to work for an employer that wanted them in the office full-time. The survey also indicated: “A quarter of workers plan on looking for a new job when the threat of the pandemic decreases, signalling a looming ‘war for talent’.” Well, this is where we are right now.
I can tell you that employers are aggressively competing for talent with compensation the main weapon. The money helps, but it won’t be the only thing to seal the deal when tempting new talents.
Ethics, values and a diverse workforce now hold more importance than ever. We now have many clients advertising flexible work schedules.
Good candidates now have the power to make demands.
If you are searching for a job, it’s fair to ask for a flexible work schedule and a choice of remote, in-office or a hybrid combination of options.
Ask for empathy when dealing with childcare or health-related matters. Citigroup CEO Jane Fraser informed her 210,000 employees that she is banning internal video calls on Fridays, as part of a program to help her staff have a healthier work-life balance. Spotify do something similar.
If you’ve put your job search on hold, now is the time to re-engage.
For those who’ve had a hard time, take heart, there will be more opportunities opening up.
Justin McGuire, co-founder of international recruitment firm DMCG Global.
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