Covid-19 brought havoc to most labor markets, as thousands of businesses closed down or filed bankruptcy, millions of people lost their jobs and others were made to shift working practices rapidly.

The skill mix required among workers changed dramatically. The number of workers required to switch occupations increased by more than 20% compared to the situation before the pandemic. There were devastating impacts for some, particularly on lower-skilled service jobs.

On the other hand, E-commerce and other virtual transactions are booming. This shift to digital transactions has boosted growth in areas like warehouse, delivery and transportation. In China alone, e-commerce, delivery, and social media jobs grew by more than 5 million during the covid lockdown period. Internet, Big data, robots, automation, the cloud,  video collaboration platforms, and other technologies are changing the way we live and work.

 will likely continue even after the pandemic is over. According to research published by Glassdoor, an American platform that compiles thousands of job postings, reviews, and salary information,

86% of workers would now prefer to continue working from home, at least part-time, even after offices reopen at full capacity.

Many companies have reported positive experiences with remote work as it reduces the cost of office space. A survey by Mckinsey found that, on average, executives plan to reduce office space by 25-30%. Such shifts will likely affect the demand for restaurants and retail property, even public transport.

, one of the most lucrative segments of the airline industry, is estimated 

 owing to the growing development of video conferencing and virtual meeting rooms. Such changes would have significant effects on employment in the airline industry, foodservice and hospitality.

As companies explore remote work options, it's much easier to eliminate location biases and hire recruits from 

. Microsoft, Japan, was the first to test this idea. It was reported that productivity increased by nearly 40 percent. J. Bruce Tracey, a professor of human resource management at Cornell University, believes that there is evidence that this type of work schedule increases productivity and reduces costs associated with stress, turnover, absenteeism and related employee challenges. Countries like Spain, New Zealand and Japan are among the first ones testing the idea.

The global economy suffered a colossal shock because of the pandemic. Though employers, workers, and consumers learned to adapt  to the greatest workplace disruption in generations, a post-COVID-19 world does not promise stability. According to the Harvard Business review “The level of volatility will only increase in 2022”.

Emerging Work Trends in the Post Pandemic Era

0 Comments