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Workforce Trends You Need To Know About in 2022 [New Data]

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Workforce Trends You Need To Know About in 2022 [New Data]

The past two years have brought on changes in the workforce, especially when it comes to how people do their jobs and where they do their jobs.

In this post, we’ll discuss new data from HubSpot’s State of Consumer Trends Report that shows exactly how consumers feel about work in 2022 and what they expect from their employers.

How Consumers Feel About Work in 2022

In 2022, consumers want businesses to continue to offer the remote and hybrid work models that increased in popularity in 2020. The State of Consumer Trends survey found that 40% of respondents are in the office full-time or nearly full-time, 32% are in remote roles, and 28% are in hybrid roles.

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Even though people are returning to the office, 54% of remote and hybrid workers expect to continue to be able to work their preferred model, and more than half would consider leaving their role if they were required to return to the office full time.

Workforce Trends You Need To Know About in 2022 New

Consumers also want the businesses they work for to understand what’s important to them in how they work, and 65% of those surveyed said they want to feel like they’re making a positive impact with the work they do.

Workforce Trends_300-01More than half of respondents also said they want to work for companies with a diverse and inclusive work culture. Valuable ways to speak to this desire and help employees feel seen in the workplace are offering employee resource groups for people to find community and encouraging healthy work/life balance habits.

Workforce Trends_300 02Regarding job satisfaction, 70% of survey respondents said they are satisfied with their current job, and 12% are dissatisfied.

People who stay in their current roles do so because of competitive pay, having a healthy work/life balance, and having a flexible work schedule, and those considering leaving do so because pay isn’t competitive, they experience burnout, and they don’t feel supported by management.

top 5 reasons consumers are considering leaving their jobs

With this in mind, potential economic instability could change how these trends look. Let’s go over what this could mean.

How the Recession Could Impact Today’s Workforce Trends

Although there have been no official declarations of recession, businesses preparing for potential economic instability will likely make decisions that preserve assets. This ensures that there is enough money to keep the company afloat, and many of these decisions initiate changes in investments, budgets, and even in the workforce and hiring practices.

For example, Meta, Twitter, and Uber are a few companies that have updated their hiring processes. Dara Khosrowshai, Uber CEO, said hiring will become a privilege, and the business will “Be deliberate about when and where we add headcount.”

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Economic changes could also mean that businesses are more strict about how employees work. However, even if companies are more strict, consumers likely won’t change their desire for flexibility — some might even be more inclined to work remotely or hybrid if it could mean cutting costs for things like childcare or transportation.

Nela Richardson, Chief Economist at ADP and co-head of the ADP Research Institute, says that, in the face of a possible recession, companies will need to invest more in their people to stay competitive in the market.

However, the state of employment could change quickly if we were to enter a recession. So, the best way to keep employees satisfied is to understand their needs and what they want in the workforce. Many trends in the HubSpot Blog survey may become even more critical as economic instability can be stressful.

For example, workers might search for more support in their work environment, whether from managers, connecting with people like them in employee resource groups, or having a healthy work-life balance.

In addition, during the COVID-19 pandemic, people wanted businesses to support causes outside of work that contributed to the betterment of society, such as people laid off as businesses closed — a recession can cause these same issues that employees are passionate about.

Understanding Your Employees Is Critical

Employee satisfaction significantly impacts your business’s bottom line, so it’s essential to know who they are, what they stand for, and what they want from their employers. Having this information also makes it easier to retain them, whether during a period of economic prosperity or uncertainty.

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If you want to learn more about consumer trends and their preferences for things like where they prefer to shop or how they feel about crypto and NFTs, check out the State of Consumer Trends Report.

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MARKETING

Trends in Content Localization – Moz

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Trends in Content Localization - Moz

Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.

Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.

Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.

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How AI Is Redefining Startup GTM Strategy

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How AI Is Redefining Startup GTM Strategy

AI and startups? It just makes sense.

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More promotions and more layoffs

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More promotions and more layoffs

For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.

The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.

Dig deeper: How to overcome marketing budget cuts and hiring freezes

Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643. 

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Here are the median salaries by role:

  • Senior management $199,653
  • Director $157,776
  • Manager $99,510
  • Staff $89,126

Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.

One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%). 

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Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.

Dig deeper: Skills-based hiring for modern marketing teams

Employee turnover 

In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”

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Men and Women

Screenshot 2024 03 21 124540Screenshot 2024 03 21 124540

This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.

In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.

Methodology

The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents. 

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Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.

Get MarTech! Daily. Free. In your inbox.

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