{"id":995,"date":"2022-07-25T12:02:43","date_gmt":"2022-07-25T04:02:43","guid":{"rendered":"https:\/\/ones.software\/blog\/?p=995"},"modified":"2022-07-25T12:39:18","modified_gmt":"2022-07-25T04:39:18","slug":"how-to-attract-new-talent-2022","status":"publish","type":"post","link":"https:\/\/ones.software\/blog\/2022\/07\/25\/how-to-attract-new-talent-2022\/","title":{"rendered":"How to attract new talent in the new era of stagnating labor pool?"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li>A &#8216;new era&#8217; of the stagnating labor pool may become permanent.<\/li><li>To compete for limited workers, companies tend to boost pay and apply a hybrid working style.<\/li><\/ul>\n\n\n\n<p>Microsoft Corp&#8217;s President Brad Smith told <a href=\"https:\/\/www.reuters.com\/technology\/microsoft-president-sees-new-era-stagnating-labor-pool-2022-07-18\/\">Reuters <\/a>in an interview that Companies in the United States are facing a &#8220;new era&#8221; in which fewer individuals are joining the labor market and the demand to pay higher wages may become <strong>permanent<\/strong>.<\/p>\n\n\n\n<!--more-->\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table of Content\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ones.software\/blog\/2022\/07\/25\/how-to-attract-new-talent-2022\/#Slowed_down_labor_growth_after_2016\" title=\"Slowed down labor growth after 2016\">Slowed down labor growth after 2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ones.software\/blog\/2022\/07\/25\/how-to-attract-new-talent-2022\/#How_to_compete_for_limited_workers\" title=\"How to compete for limited workers?\">How to compete for limited workers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ones.software\/blog\/2022\/07\/25\/how-to-attract-new-talent-2022\/#Decision-making_in_the_new_hybrid_working_era\" title=\"Decision-making in the new hybrid working era\">Decision-making in the new hybrid working era<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Slowed_down_labor_growth_after_2016\"><\/span>Slowed down labor growth after 2016<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"395\" src=\"\/blog\/wp-content\/uploads\/2022\/07\/fredgraph-1024x395.png\" alt=\"\" class=\"wp-image-997\" srcset=\"\/blog\/wp-content\/uploads\/2022\/07\/fredgraph-1024x395.png 1024w, \/blog\/wp-content\/uploads\/2022\/07\/fredgraph-300x116.png 300w, \/blog\/wp-content\/uploads\/2022\/07\/fredgraph-768x296.png 768w, \/blog\/wp-content\/uploads\/2022\/07\/fredgraph.png 1168w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><figcaption><strong><a href=\"https:\/\/fred.stlouisfed.org\/series\/LFWA64TTUSM647S#\">Working Age Population<\/a>: Aged 15-64: All Persons for the United States<\/strong> (Organization for Economic Co-operation and Development, Working Age Population: Aged 15-64: All Persons for the United States [LFWA64TTUSM647S], retrieved from FRED, Federal Reserve Bank of St. Louis; https:\/\/fred.stlouisfed.org\/series\/LFWA64TTUSM647S, July 24, 2022.)<\/figcaption><\/figure>\n\n\n\n<p>Smith mentioned that the trend of around 5 million people increasing the working-age population in the United States every five years since 1950 has shifted, beginning with the period between 2016 and 2020, when growth slowed to 2 million, and is now slowing even more. Major international markets have suffered outright labor force decreases.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>That helps explain part of why you can have low growth and a labor shortage at the height at the same time. There just aren&#8217;t as many people entering the workforce.<\/p><cite>Brad Smith, Microsoft Corp&#8217;s President<\/cite><\/blockquote>\n\n\n\n<p>More news: <a href=\"https:\/\/ones.software\/blog\/2022\/06\/07\/recession-fears-complicate-new-work-era\/\">Recession fears complicate new work era<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_compete_for_limited_workers\"><\/span>How to compete for limited workers?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Microsoft recently increased salary while slowing recruiting in order to compete for limited personnel, according to corporate executives. The software company also cut a modest number of employees associated with the start of its new fiscal year.<\/p>\n\n\n\n<p>Besides salary increments, according to the most recent&nbsp;<a href=\"https:\/\/wfhresearch.com\/research-and-policy\/\" target=\"_blank\" rel=\"noreferrer noopener\">WFH Research statistics<\/a>, quoted by&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/business\/gen-z-millennials-and-gen-x-all-basically-agree-on-wfh\/2022\/06\/10\/031da3e4-e87b-11ec-a422-11bbb91db30b_story.html\" target=\"_blank\" rel=\"noreferrer noopener\">Bloomberg<\/a>, most typical office workers appear to favor the ability to work from home at least one day each week. <\/p>\n\n\n\n<p>If their company refuses to provide hybrid working possibilities, people in their twenties are more inclined to start seeking new employment, while those over 50 are more likely to just resign. Therefore, a <a href=\"https:\/\/ones.software\/what-is-hybrid-working\">hybrid work model<\/a> is a must for companies to retain their talents and compete for limited workers.<\/p>\n\n\n\n<p>Detail for how to implement hybrid working: <a href=\"https:\/\/ones.software\/what-is-hybrid-working\">What is hybrid working?<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Decision-making_in_the_new_hybrid_working_era\"><\/span>Decision-making in the new hybrid working era<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to a new survey by insurance company\u00a0<a href=\"https:\/\/www.prnewswire.com\/news-releases\/survey-the-future-of-work-is-already-here--and-its-not-fully-remote-301553882.html\">Nationwide<\/a>, half of all entrepreneurs expect to continue to work in an office for the next year. This underscores the fact that management around the world is still worried about the new era of hybrid work.<\/p>\n\n\n\n<p>But according to recent employment data, hiring continued normally in May, with no signs of slowing hiring among giant employers like IBM. Even in April, for every unemployed person, there were still close to two job opportunities. So many companies are opting out of the onerous back-to-work requirement in order to retain talent, while\u00a0<a href=\"https:\/\/ones.software\/blog\/zh\/hybrid-work-is-a-must\/\">others like Apple, which has been pushing back-to-work itself<\/a>, have relaxed the policy in recent weeks.<\/p>\n\n\n\n<p>Wall Street bosses have also reduced their demands for reentry: Jamie Dimon, CEO of JPMorgan Chase &amp; Co, said&nbsp;<a href=\"https:\/\/www.fnlondon.com\/articles\/jamie-dimon-says-just-50-of-jpmorgans-employees-will-work-in-the-office-full-time-20220404\">40 percent of his staff will work in a hybrid model in the future<\/a>, and Credit Suisse Group AG CEO Thomas Gottstein,&nbsp;<a href=\"https:\/\/ones.software\/blog\/2022\/06\/03\/back-to-office-not-realistic\/\">said recently that the bank will never return to full-time office work<\/a>.<\/p>\n\n\n\n<p>ONEs Software now has a dedicated page to introduce a series of smart office measures to help you solve problems. You may wish to go to&nbsp;<a href=\"https:\/\/ones.software\/hybrid-workspace\/\">https:\/\/ones.software\/hybrid-workspace\/<\/a>&nbsp;for further reference.<\/p>\n\n\n\n<p>Contact us: hello@ones.software, or visit ONEs Software official website for more information:&nbsp;<a href=\"https:\/\/ones.software\/\">https:\/\/ones.software\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do the companies compete for limited workers in the new era of stagnating labor pool?<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[88],"tags":[93,154,118,42],"class_list":["post-995","post","type-post","status-publish","format-standard","hentry","category-hybrid-workplace-hack","tag-future-of-work","tag-human-resource","tag-hybrid-working","tag-smart-office"],"_links":{"self":[{"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/posts\/995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/comments?post=995"}],"version-history":[{"count":4,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/posts\/995\/revisions"}],"predecessor-version":[{"id":1002,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/posts\/995\/revisions\/1002"}],"wp:attachment":[{"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/media?parent=995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/categories?post=995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ones.software\/blog\/wp-json\/wp\/v2\/tags?post=995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}