Workplace Trends Shift Back Toward Pre-Pandemic Norms as Jobs Get Harder to Find, Wages Cool, and Benefits Decline
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Wage growth is cooling and jobs are getting harder to find in some industries as companies seek more from current employees. This signals a return to pre-pandemic norms.
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Total compensation could decline along non-cash dimensions like benefits. Fewer employees have access to things like 401k plans, dental insurance, and commuter assistance.
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Parental leave, mental healthcare, and fertility assistance are on the rise, but other benefits are being cut back, especially in industries like tech and finance.
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Layoffs in 2022-2023 have had lingering negative impacts on employee morale and satisfaction ratings, even months later. Ratings for things like career opportunities also fall.
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There are still risks to the economy like geopolitical tensions and inflation that could further impact workplace dynamics and trends in 2023.