In this post, we’ll discuss some of the key trends shaping this growing industry, and how they’ll affect the market going forward. According to HR industry expert and analyst Josh Bersin, the average large company now uses 9.1 core talent applications — up from 7 in 2018. Spending on these tools now averages $310 per year for each employee. Companies are throwing money at HR tech, trying to find ways of transforming their workforces, increasing employee productivity, and improving quality of hire, employee engagement and retention. And more and more of these tools are entering the market every day: the HR tech market reached a total value of $28.65 billion in 2021.
Blog: Industry Insights & Trends
The move towards decentralisation and more flexible ways of working that we’re currently seeing was already well underway before 2020.
Several recent studies have analysed the most significant trends affecting the workplace in 2022, giving us an idea of what the world of work will look like over the years to come. In this article, we’ll discuss eight key insights from the EY Future Workplace Index and other research into the trends shaping the future of work.
The Great Resignation has been a phrase that many people have been talking about for nearly two years. But what is it and is it real? By January 2022, the US had seen quit rates above pre-pandemic levels for eight straight months. In fact, the quit rate, which had never previously surpassed 2.4% since the Department of Labor started measuring it in 2000, hasn’t been below that level since late 2020.
For many people, working on platforms allows them the flexibility to earn a living while choosing their own working hours and adjusting how much they work as their other commitments change. And, since the barrier to entry for platform work is often relatively low, it can provide an opportunity to make money in economies where getting a traditional job is challenging.