In the 2020s, the labor market has evolved rapidly. Now things we didn’t even dream of – such as remote work, a 4-day work week, or workations – are quickly becoming a reality. As we’re saying goodbye to 2022, let’s check out what’s coming in 2023.
Recently, MyPerfectResume researched top workplace trends for the coming year.
They asked 1000+ workers, managers, and HR professionals various questions related to the labor market but also financial, technological, or mental health issues.
Massive lay-offs? Robots and AI replacing human workers? Or salary increases and new benefits?
Let’s find out what trends will surprise us in 2023.
Market Condition in 2023
After Covid, the U.S. labor market and the entire economy are facing inflation and recession. Does this mean stagnation in hiring and difficulty in getting a job? Not necessarily. According to respondents, 2023 may be better for workers than you think.
Only 33% predict that finding a new job will be more challenging. The rest is much more optimistic.
48% admit that job searches would be easier in the upcoming year. Additionally, 19% expect neither deterioration nor improvement in job opportunities, saying that options will be the same as in the ending year.
But still, it might get ugly.
Almost 7 in 10 research participants (65%) expect to lose their job in 2023.
But as Albert Einstein said, “In the middle of difficulty lies opportunity.” Therefore, it is worth looking at the positive face of 2023:
- According to 71%, the gig economy will continue to expand.
- Also, 71% believe the number of gig workers will increase and may exceed the number of those traditionally employed.
- 69% predict that employee retention will be more important than ever before.
Still, we advise you to temper your expectations, as 71% of respondents believe a recession is coming in 2023.
Moreover, 68% predict rising unemployment rates, as many people will lose jobs, according to 61%.
Having that in mind, hope for the best but be prepared for the worst.
2023 – better or worse?
Optimistic moods definitely prevail among research contributors.
78% say that the general labor market condition will improve in 2023. Moreover, 82% believe that job-related changes will be mostly positive for employees.
But there’s more.
If you’re planning to change jobs, do not hesitate. 75% of respondents believe next year will be a good time for that move. Also, 2023 is perceived as a good year to finally start their own business, according to 70%.
Now is better than never, so don’t waste your career and the opportunities waiting around the corner. Focus on your job advancement.
Thus, given the 2022 experiences and lessons learned, what will be employees’ priorities in 2023?
- Earning more
- Focusing more on well-being and mental health
- Getting a new job
- Development, education
- Starting own business
- Getting work independence
- Engage more and be more productive
- Get a promotion
There’s no doubt that the money goes first. However, there is more than that. Equally important turns out to be well-being and mental health, followed by getting a new job. Nor will employees ignore the need for personal development and education, leading to gaining new skills.
What else is expected?
Workers, managers, and HR professionals taking part in the survey expressed their predictions for the coming year in several aspects. They commented on recruitment trends, employee well-being and mental health, benefits, perks, financial issues, technological changes, and the need for upskilling. Take a look at this valuable collection of forecasts.
- 75% of research participants say that competition, i.e., the number of people applying for the same position, will increase in 2023.
- 66% believe most employers will include a salary range in job listings.
- 76% of workers will focus more on their work-life balance.
- 75% agree that the labor market in 2023 will bring us more stress than in previous years.
- 74% expect better pay transparency.
- 71% think fewer bonuses or other financial rewards will result from employers cutting costs.
- 72% conclude there will be a boom in workations.
- 76% assume that work experience will matter more than education.
- 75% warn that digitalization and improvement of technologies will make us upskill in 2023.
Many opportunities, but there will also be plenty of anxiety. That’s what 2023 will be like, according to experts. However, remember, your job-related situation depends entirely on you and your ambitions, expectations, and persistence to go further.