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Monday, January 30, 2023

What is the ‘Great Restructuring’ and why it affects the labor market after the pandemic

The so-called ‘Great Reorganisation’ event Refers to the mass exodus of workers during epidemics, So this is a direct result of the previous ‘great resignation’. After about two years in which this situation in the labor market was created, in which Up to 27% of Spanish workers consider leaving their jobs For financial or mental health reasons, LinkedIn CEO Ryan Roslansky recently explained cnbc make it The labor market may be “rising”.

According to the share of LinkedIn users who change jobs It has fallen from a maximum of 44% in September 2021 to -2% in the current year 2022, In the case of the Asia-Pacific region, the change in trend is more pronounced, falling from a peak of 83% to 4%.

But in the United States, in the month of November alone, more than 20,000 American tech workers were laid off, mainly as a result of Changes to Twitter, Meta, or Salesforce templates,

From ‘great resignation’ to great uncertainty

Roslansky says that in the labor market, instead of talking of a ‘great resignation’, one can speak of a “period of great uncertainty”. In the Global Talent Trends report, Five of the eight countries covered show a drop in employee confidenceWith regard to the financial condition of the worker.

LinkedIn Chief Economist Guy Berger explained the main reasons for this scenario of economic uncertainty: EpidemicLas Global supply chain disruptionThe skyrocketing inflation And this slowdown in economic growth,

“Employees are certainly aware of this uncertain environment. In recent years they have been increasingly concerned about their health, their job security and their wallets. And this lack of confidence spills over into both their professional and personal lives Is.”

Asia-Pacific hiring falls

Referring to the Asia-Pacific region, Roslansky commented: “There are markets and regions that are growing and there are regions that are slowing down. Some parts of the labor market are tighter, while others are more relaxed. ” add it LinkedIn hiring sees “significant decline in key markets”Like 14% in Australia and Singapore, or 18% in India.

Too, Remote jobs also appear to be on the declineAccording to the CEO: “The current economic environment is causing some companies to backtrack on the resilience and growth initiatives they launched during the worst moments of the pandemic.”

In fact, he says 7 out of 10 employers in this sector believe they should take such measures. But the demand for these remote jobs remains high, shows reluctance of employees To return to traditional work formats.

Why is there a demand for remote employment?

According to Roslansky, despite the fact that the supply of remote jobs in India has declined 19% to 11%Positions with this format remain in demand above 20%, In the case of Singapore, faced with a 5% Of the total job offers, remote jobs are in demand 8%,

for employees Flexibility is one of the main incentives for working onlineAs well as the convenience of balancing personal life with work and compensating among others.

LinkedIn’s CEO believes that: “We can’t go back. In my opinion, companies that adopt new ways of working instead of going back to pre-pandemic practices they will come out strongerAnd will have a sustainable competitive advantage.”

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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