Here’s How To Loosen The Tight Labor Market

Recession fears are leading companies to tighten their belts. Simultaneously, workers are demanding more from their employers than ever before. Is there a middle ground? 

Perhaps.  

According to new data from LinkedIn, today’s labor market is divided into two distinct groups: remote work seekers and in-office work seekers.

Remote work has opened a world of possibilities in what it means to be an efficient, productive and satisfied workforce. It could also be the answer to the increasingly tight labor force.   

Companies have touted various benefits and perks in an effort to bring in employees. Casual Fridays and catered lunches are just a few examples of how leaders have tried to spark employee engagement, but these antiquated methods are better left in the pre-pandemic era. 

Today, professionals want choice and a voice, both of which they had little of pre-2020. In the last few years, employees have explored and discovered exactly what does — and doesn’t — motivate them. For many, being in the office fell in the latter category. 

Even more, labor tightness was more prominent among in-person work as remote jobs swoop in to grab high-skilled workers. 

In fact, remote and in-person work sat on polar opposite sides of the talent attraction spectrum.  

For every worker looking for an in-person position, there were two job openings. On the other hand, data showed that there were two applicants for every remote job opportunity in the U.S.   

This provides a tangible lesson for employers: if job applications are stagnant, loosening workplace restrictions and expanding flexible options could be a starting point in driving interest.