All Things ‘Work’: A Look Back At 2021 & What’s To Come In 2022

If 2020 was defined as the ultimate crisis, 2021 was all about adapting to challenges that were thrown our way which includes burnout, hybrid workplaces and a push for mental well-being.

2022 will see the power shift in organisations as they push for a more inclusive workplace that focuses on ‘employers’ to ‘employee experience’.  Ultimately, it is about making sure companies have a pulse on what employees are feeling and what they want, and responding to that compassionately and transparently.

In a poll conducted by The Edge Partnership, whether people would consider a career switch — a whopping 82% answered with a resounding ‘yes’. A career switch is very likely as technology opens up opportunities for new ways of working and continues to redefine the relationship between people and their workplaces.

Looking back, 2021 was also a year of ‘The Great Resignation’ also known as ‘The Great Reshuffle’ which started as a trending global phenomenon but closer to Asia, there was a higher turnover rate especially at the mid-career level when compared to previous years.

As a result, companies and professionals are ready to enter the new year on a high note and seal the deal on the talent and work front. Here are some essential work trends to look forward to in 2022.

1. Domino effect of ‘The Great Resignation’

The conversation surrounding the Great Resignation is mostly U.S.-centric but it is predicted that this movement will uptick globally in 2022.

It is no longer about ‘I want to leave my job’ but more about ‘I want my job to have more flexibility, and am asking for opportunities to shift my career in a different direction.’

HR leaders would need to understand the motivations driving the Great Resignation. Talents are being selective in the jobs they apply for, often looking for jobs that offer flexibility and autonomy. In other words, they have shifted how they’re valuing their time.

Organisations are putting desired business outcomes at risk if they don’t have a workforce that’s skilled, engaged, and productive. A better employee experience is how companies can attract, train and retain workers.

2. Closing the skills gap

The skills gap is the difference between the skills required for a job and the skills possessed by an employee. Due to the accelerating pace of change from the pandemic, the skill gap is as wide as it can be right now.

To close the skills gap, there needs to be a people-focused conversation, a challenge particularly for hiring managers and executives. Before the pandemic, organisations viewed the world through profit, margin, and hard numbers.

The new conversation will be non-monetary and focused on key indicators that are highly value-driven.

It’s won’t be engagement metrics, but it will also look at employee wellness. It’s won’t be hard skills, but people’s actual soft skills. Lastly, it is not how long an employee has been working with a company but what is their career trajectory.

3. Demand for talent in certain industries

The switch in jobs will result in a hiring resurgence particularly for the tech and finance fields in Singapore, Hong Kong and India. For instance, careers in financial management are expected to grow by 15% over the next decade.

Tech talent will be much sought after in areas such as cybersecurity, data analytics and even fintech organisations.

With the pandemic and movement of jobs, the talent crunch for tech and finance workers will result in a possibility of increased pay. In a competitive job market, there will likely be some diversification in benefits packages offered to workers in this field that goes beyond pay as well.

4. Well-being will take centre stage

Many employees and their managers still struggle to find a healthy balance between work and life in a pandemic.

Several skilled and dedicated employees may have lost their jobs as organisations found it difficult to sustain themselves during the pandemic. In addition, many people working remotely may have exhausted themselves by stretching their work hours and becoming burned out.

There will be a need to increase access to mental well-being benefits in the new year. Certain perks and vision need to be outlined by companies such as giving employees access to tools they can use to stay ahead of stress.

The Final Word

Going forward, new talents will use their power to examine the companies closely and demand the very basics to be met.  For businesses, 2022 will be about streamlining their processes and ensuring holistic well-being for their employees to provide an ideal work environment.

From finding the best career to getting all your talent needs, The Edge Partnership is known for hiring the top talent in major Asian markets – get in touch with our team of specialized recruiters to have a confidential discussion.