On the brink of a global recession, top-level executives are skeptical about the position of current employees in their companies, let alone thinking about hiring new prospects.
Business leaders across the globe are in agreement that a downturn is upon us. According to a reputable audit, tax, and advisory agency report, a whopping percentage of more than 90% of American CEOs believe that there will be a recession in no more than 12 months. More than 85% of CEOs worldwide feel no different about the impending scenario.
In these dire times for employees, who like to work from the comfort of their homes, now is a good time to show their faces to their bosses if they are interested in saving their livelihood. In a poll of 3000 employers, 60% believed remote workers would most certainly lose their jobs in the future.
Furthermore, US CEOs were asked how they view the future regarding their companies. They were particularly asked about hybrid work; almost half of them supported the idea of a hybrid workplace, while one-third opted for the in-house work environment, and the remaining favored remote work.
Many business leaders from other parts of the world seem more determined to bring their employees back into their office premises; 65% want an in-office work setting, while 28% prefer a hybrid ecosystem. The remaining fraction is exclusively open to hiring remote workers.
Employees Realize Their Worth
Flexible working hours and remote employment options were not only a countermeasure for a desperate time during the pandemic; the idea gave birth to a whole new means of sustaining work that helped businesses save tremendous amounts.
Workers who could manage their communications and work hours found it ideal, and this arrangement quickly became part of the existing standard of work. However, the notion that only 28% of business leaders choose to opt for this arrangement, despite all the gains and flexibility it offers, is a bit odd.
There perhaps are plausible explanations for this, but we’d only know if there is more data concerning this. And logically, remote workers who have enjoyed good track records will be in demand. Their quality and efficiency matter, and companies do find remote workers way more cost-effective to hire.
‘Remote Work’ Served Businesses and Workers Well
During the pandemic, companies in the US came to realize the importance of their personnel, leading to a hybrid work model favored by many corporations nationwide. Workers found that they could leverage this work model and were quick to take up the opportunities. At that point in time, there were few options, as lockdowns became more stringent with each passing day and would remain in effect for many months, and in some locations, even past a year.
Many employees, who have worked through a remote work arrangement, seem disinterested in a full-time return to their offices. In fact, according to a report, offices across ten major metropolises in the US are more than half empty on average. The research further said Tuesdays and Wednesdays were the busiest days within the corporate building premises.
Just How Efficient and Disciplined are Remote Workers?
With such drastic change and employees having more control than ever, the managers are suspicious about worker output. Recently, researchers at Microsoft conducted a survey and found that there is 'productivity paranoia' among employers – resulting in them questioning the credibility of their hybrid staff.
Even though, according to the research, workers are putting in the allotted work hours - showing up at all the scheduled meetings, whether physically or virtually, responding to emails, and collaborating with fellow workers - managers still expect more productivity.
The 'Red-Hot' Labor Market is on the Decline
Nevertheless, the latest department of labor statistics reports that there are now approximately 10 million available positions, a fall of over a million, indicating that the great resignation is losing its effect.
With a looming recession on the horizon, corporations will have a tough time determining where to cut jobs. These are intense and difficult times for the economy, not in the US but worldwide, and desperate measures need to be taken by business leaders.