Is the cost-of-living crisis undoing all the progress from the pandemic?
The pandemic was a worrying time for businesses across the UK but being forced to work from home opened up a lot of flexible, beneficial working practices within many organisations.
Zoom and Microsoft Teams were vital components of the shift from the office to remote working. Technophobes had to put aside their aversion to computers and learn how to unmute themselves, share their screens, and send an e-invite, all in the space of a few weeks—something they may never have done otherwise. This action carried few downsides—remote working saved on commuting and childcare costs, whilst also resulting in a rise in productivity. Certain groups had campaigned for such workplace changes for years, pre-pandemic, e.g. disabled employees.
After the period of lockdowns was over, many businesses chose to permanently adopt hybrid working practices. They may have insisted that employees ‘checked in’ one or two times a week for face-to-face meetings, but on the whole, for the remainder of the week, employees were allowed to continue working from home.
However, with the cost-of-living crisis, and the worst recession in British recorded history looming, both employees and business owners are worried that these positive by-products of the pandemic will be lost, and the workplace will begin to regress.
Businesses have been forced to tighten their belts even further recently. At the outset of the pandemic, the UK workforce faced a major skills shortage; businesses reinvested money into their workforce by upskilling their staff to address the issue. Now, employers need every penny. Enormously inflated energy prices have given some businesses no choice but to close for good. Fish and chip shops, pubs, hotels…once again, the hospitality and leisure sectors have taken a battering. It’s little wonder that some business owners have decided to return to the job market and the relative certainty of a wage rather than keep agonising over things that are out of their control.
Individuals are facing escalating energy costs. Working from home is no longer the money-saver it once was; remote working could potentially add hundreds onto an employee’s energy bill. Aside from this factor, the number of remote jobs available globally is decreasing, despite previous demand being higher than ever.
We reported on the power jobseekers held in recent months. There were so many jobs left vacant that candidates could have their cake and eat it too. With more choice, applicants could pick and choose which job descriptions suited them; they were able to prioritise flexible hours, remote working and a healthier work/life balance.
The tables appear to have turned now, though. Some people are desperately clinging on to their jobs—they’re worried about how they’d pay their bills if they were made redundant. The number of vacancies has begun to decrease; one reason is due to the number of companies across the UK that are going bust. Jobseekers may find themselves taking the first position offered to them, just for the financial security, with any thought of flexible work regimes and staff development flying out the window.
The solution now, perhaps, is compromise. Recruiters will want to make sure they’re onboarding the right person for the job as mistakes could cost them money they haven’t got. Candidates may still wish to prioritise job benefits over remuneration; however, they’re scanning a much smaller job market than they’ve been used to.
Over the past few years, the job market has mirrored a tennis match. Pre-pandemic, employers held most of the power, knowing that the majority of jobseekers would have bitten their hands off for a position within their company. In the months following the pandemic, power was firmly in the hands of the workforce, who were able to demand a better work/life balance and flexible hours.
As things stand, the score is deuce. No one party has the power, as both must take into consideration challenges that have simply not been there for a long time. Progress will not be made unless both sides reach a happy medium.
Recruiters and employers should still aim to offer flexible working arrangements wherever possible, because a satisfied workforce results in much higher productivity levels. However, jobseekers must understand that they won’t be able to demand the impossible if they want to be employed.
When was the last time you carried out a review of your recruitment website? Does it reflect this latest shift in the job market? As specialists in recruitment website design, we can give you objective, effective feedback. For an informal chat about your digital needs, contact Fast Recruitment Websites on 01302 288591.
