The New Normal

The world of business is significantly different than it was just a few shorts months or even weeks ago. It is time to reflect, adjust, and get moving on what will be our “new normal”. Although it may be uncertain what this will look like, we are looking forward in identifying employment trends and forging ahead in the new environment. We are predicting a transformation of rapidly changing job market conditions including:

• Work from Home & Office
• Paperless and the Digital Workplace
• Job Stability over Job Growth
• Degeneration of Higher Education

Work from Home & Office

As businesses are faced with the current global COVID-19 pandemic, the work-from-home (WFH) experiment has proven successful. Zoom video-conferencing and Microsoft Teams have exploded on the scene and demonstrated that technology can bind together remotely distributed work teams. They have shown to be productive enough to maintain continuity of service and keep the company’s mission moving forward. For many companies, hiring and employing remote employees may become the new normal.

Unfortunately, WFH lacks the spirit and culture that often keeps a team together. The water cooler camaraderie, the bond that drives the creative energy of a team, while it may be lacking in the office, can be created in other ways through constant communication, dialogue, and technology. The ability to manage teams located both inside and outside of the office is what separates good from great companies. In the “new normal” environment, leading companies will find a WFH strategy to allow for employees to productively and efficiently work from home.

Paperless and the Digital Workplace

The digital workplace has provided businesses with the opportunity to increase workflow and improve processes with the click of a button. Since the introduction of the mini-computer, business owners have been eager to eliminate the paper-pushing that has restricted progress and limited transactions. DocuSign, an online tool that eliminates the need for manual signatures, will have a solid place in our “new normal” making physical paper obsolete as part of the WFH environment.

Job Stability over Job Growth

The highly coveted position at the fast-growing start-up may have been appealing to many job seekers during a time of economic growth. However, during these uncertain times, employees value a job and company that offers stability, profitability, and equitable treatment over growth. As we look at the “new normal” in the job market, top talent will be more attracted to those companies that have been able to sustain for the long haul.

Degeneration of Higher Education

The cost-benefit of a 4-year college degree has been marginalized in recent years. As top employers relax requirements on college education and universities increase the costs of tuition, many college-bound students (and their parents) balk at the necessity for higher education. Instead, they may focus on employer apprenticeships, relying on practical skills and on-the-job training to get the job done. Unfortunately for many universities and colleges, they may experience a sharp, irreversible decline in enrollment as the best and the brightest realize that a 4-year degree is no longer a necessity in the “new normal” job market.

At Impactful Resources, we are seeing pre-existing trends accelerate as we move towards the “new normal”. Are employers willing to embrace these changes? Ultimately, we all might just be better off.