Future Prospects of the American Job Market
Following nearly two years since the devastating spread of COVID-19 and one year since President Biden took office, March 1 marked Biden’s second State of the Union Address amidst the pandemic problem he campaigned to solve. Significant time within the President’s speech was dedicated to inviting all working Americans to formally return to the office. Initially sought to be a pandemic-controlling measure, the once improvised solution of remote working quickly became the preferred alternative for most of the working class.
Today, many still wish to keep working from the comfort of their own homes. The request does not seem unreasonable. If anything, research has proved its efficiency. For instance, a study from Stanford cited that working from home increases performance by 13 percent. The reduced stress from suspended in-office meetings, alongside the absence of commuting and the presence of a comfortable workspace, are only a few of the factors that contribute towards improvements in employee performance. At least on paper, both workers and companies can benefit from the new model if pursued properly. Yet, many company executives are hoping to enforce a return to pre-pandemic times. Naturally, finding the reasons that motivate such a desire is relatively challenging. However, some of the larger hypotheses cite cultural mythology, symbolic statements, and even that companies may be wasting money on renting office spaces that later remain empty.
While having debates over the desires of workers is definitely a step forward, it never would have happened without the pandemic. As a matter of fact, corporate America’s response to COVID-19 has only gone to show that securing benefits for its employees had always been possible. It is no secret that the pandemic caused burnout amongst American workers to reach a record high. According to the American Psychological Association, 79 percent of corporate employees have experienced work-related burnout.
Combining the stressful environment generated by the pandemic with the American philosophy of overworking employees has resulted in turnover rates also reaching record highs. Thus, there is a clear correlation between employee burnout and turnover rate. In other words, the only reason why it took a global pandemic for companies to start offering said benefits is because of a sudden shift in perspective: benefits were no longer “luxuries” that workers had to prove they were worthy of receiving but assets used to keep employees bound to the company.
Still, as companies attempt to return to a new normal, the same benefits that helped them remain economically afloat are starting to be withdrawn, again contributing to the ongoing narrative of the American industry that ignores the wants of the workers in exchange for higher profits. Granted, not all companies have been participating in this storyline. Duolingo, Apple, and Meta, to name a few, have all started implementing a hybrid model that, if successful, would achieve the best of both worlds.
Regardless of the benefits offered by a growing percentage of companies, some workers have started looking for opportunities abroad in the hopes of finding better benefits, higher pay, and an overall more enjoyable lifestyle. The ongoing emigration of American workers from their native country, alongside a steady decrease in immigration to the United States (which evidence suggests started prior to the pandemic), are all indicators of the U.S. job market becoming less desirable to the world. Americans, at least, are tired of it. With 2021 witnessing both a record number of available jobs and an equally record-breaking number of workers quitting, there is clear evidence that worker satisfaction is at an all-time low.
When seen from a different perspective, it could be even considered as a partial explanation for the current labor shortage that the United States is struggling with. Elements, like proper pay, work-independent health insurance, job security, and many others, should be guaranteed are instead treated as luxuries that are necessary to live comfortably in an otherwise hostile system. By contrast, countries like England, which have adopted many workplace trends from American culture, also establish mandatory employee benefits that increase satisfaction while simultaneously decreasing employee turnover rate. Of course, the United States job market does not resemble England’s or that of any other country that dedicates more than a below-average amount of attention to their workers. Nonetheless, allowing workers to work from home might just be the first step necessary towards a satisfactory environment.
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