2022 saw many microtrends emerge on an almost month on month basis as organisations adapted to a rapidly changing market and talent landscape.
During the first nine months of 2022 we saw a war for talent in almost every sector with an increase in salaries and counter offers varying from €3,000 – €30,000 on salaries and benefits. There was a huge demand for the right skill set, as businesses came out of Covid busy, ambitious and in growth mode.
With an urgent need for more people, talent and skills the pressure increased like a rising tide. Candidates knew that they were sought after and with the increased cost of living, candidates demanded higher salaries. This led to business costs rising as employers tried to compete and retain great talent. In 2022 Employers also had to focus and adapt to the changing needs of their current employees with increased salaries, additional benefits and remote and hybrid working arrangements top of the list of requirements. A year in review & a look ahead to 2023
2022: The Year of the Microtrends…
While the first half of 2022 saw a considerable shortage of talent, the latter half of the year saw an easing of the market in some sectors making talent more accessible.
The number of counteroffers reduced, and the salary increases slowed down across and while there were redundancies made across several sectors there are still lots of jobs and gaps to be filled in. There’s also a considerable need for talent in the healthcare sector.
Looking ahead to 2023
Looking ahead to 2023 the demand for top talent will remain high with skilled candidates continuing to command higher salaries and extensive benefits packages. Companies are continuing to hire and grow and are remaining optimistic with future planning amidst a backdrop of economic uncertainty.
While the first quarter of 2023 largely remains a candidate market, candidates are becoming slightly more cautious, and are looking for enhanced job security in a seemingly uncertain market before making a move.
Hybrid and flexible working arrangements aren’t going away and continue to be a ’must have’ for candidates in 2023 with candidates often turning down roles that don’t meet their requirements. Temporary and Contract staffing also remain in high demand in 2023.
After a cautious start to 2023, organisations are gathering momentum and forging ahead with robust business plans for the year ahead which makes for an exciting time for jobseekers and organisations alike.