Global Employment Updates, Trends, Stats and Insights
Sick of clambering around the internet in search of industry updates, trends, and insights? We bet you are. Luckily, that’s our “cup of tea”, as the Brits say. We do the dirty work so that you can save precious minutes out of your day, while you gain insight into the quick-shifting sands of the future of work.
Welcome to a new weekly addition to the Multiplier blog, THE FORECASTER: an easy-reading, no-filler, executive summary of what’s next in the world of international employment, business, and talent resources.
In each issue we’ll pull together insights from stories across the globe to give you the inside track in the race for what comes next. Now all you have to do is spend all the time we saved you on executing on these expertly curated insights.
Here’s what THE FORECASTER has in store for you this week…
No more “Kind Regards”
No cap, some of the most popular email sign-offs and greetings are dying a death thanks to the changing preferences of gen Z office workers. According to a new survey in the UK, the likes of “yours sincerely,” “to whom it may concern, and “yours truly” are fast falling out of fashion, to be replaced by “thanks,” “hi,” and other shorter phrases. (Barclays)
Unprepared or overworked?
“The people who think that Gen-Z is “soft” and doesn’t have a good work ethic should consider the groups that are leaving the workforce in droves – nurses, restaurant workers, and teachers who are mostly mid-career but who are just burned out.” Intelligent
WE WANT FAIR PAY! And a few other things, please?
Aerotek’s summer 2023 job seeker survey data shows that while fair pay is still very much a top priority, other key factors are also in the minds of candidates — such as workplace culture and opportunities for growth. SIA
Inclusion starts from the top
“Leaders account for a difference of up to 70 percentage points in employees’ experience of belongingness and psychological safety. Inclusive leaders see a 17% increase in team performance, a 20% increase in decision-making quality, and a 29% increase in team collaboration.” (HBR)
Last-minute push to tackle the talent crunch
A new report from staffing firm ManpowerGroup has found a majority of employers plan to increase hiring in the final quarter of 2023. However, 77% of businesses said they were struggling to find talent with the right skills for their jobs. (ManpowerGroup)
Job openings on the rise
August job openings rose by 690,000 compared to July, the highest volume since May. Though the statistics remain lower when compared to 2022, the number of job openings in August was staggering, topping out at 9.6 million. (SIA)
One-size-fits-all doesn’t work, unless you’re buying a hat
“Remote work has benefits, and in-person time does too. Every team is different, but one thing is clear: finding this balance must be approached with intentionality. Rather than considering the office as a one-size-fits-all solution, teams should consider the type of work they do and determine key points in time or reasons to gather in person.” (Microsoft)
Stay at home, save the planet
“A study in the US has revealed another sting to hybrid working’s bow: sustainability. The study found that employees in the US who worked from home all the time were predicted to reduce their emissions by 54%, compared with workers in an office, though the authors cautioned that people who didn’t commute tended to ‘spend more emissions on social activities’.” (The Guardian)
Return to the office
Meta’s £149 million lease
I thought we were returning to the office?! However, Meta just paid £149m to break its lease on a central London offices, the latest sign of large organizations slashing workspaces amid the post-pandemic hybrid working boom. (The Guardian)
The great return
The Covid-19 pandemic forced a widespread shutdown, and many companies realized — or assumed, at least — employees could work remotely. To which organizations began to walk away from their office spaces without renewing their leases. However, it looks as though 90% of employers will expect their teams to return to the office. (Forbes)
Continued Global Employment Industry Updates from Multiplier
Now you’ve got this week’s grasp of what lies ahead, why not check out what a platform like Multiplier can offer the next phase of your business?
We’re experts in making the hiring of international talent a seamless exercise, as our platform manages payroll, tax compliance, and employee benefits and compensation.
To find out more, book a demo now.