Top 10 Workforce Trends in 2023
The workforce and business practices have tremendously evolved post-pandemic. Businesses now majorly depend on Artificial Intelligence (AI) and automation for their success and growth.
Let’s study the top 10 workplace trends for the upcoming year.
1) Workforce health and wellbeing continues to be a priority:
Over the past two years, the companies have used different strategies to address employee health issues. Intelligent employers understand how vital workforce wellbeing is, and we can expect even better health care programs for the coming year. Statistically, 53% of organizations added mental health programs to their workforce benefits due to the pandemic.
2) Transformed hiring practices:
The traditional ways of hiring no longer serve the modern workforce adequately. We can expect a significant transformation in the hiring process this year. Recruiters will shift to a video interviewing platform like Jobma that helps them hire quicker, smarter, and for less.
3) Significant increases in the hybrid and remote work culture:
We have seen a great hike in hybrid and remote work culture post-pandemic. More businesses will implement the remote first work model this year. In addition to this, employers will also allow the employees to control their work schedules.
According to research from WeWork, both the employees and employers noted that work flexibility and schedule control were the top benefits of the hybrid model.
4) Prioritizing employee feedback and input:
Organizations that fail to seek employee feedback struggle with employee retention, which tremendously harms the business’s success. Companies will generate employee feedback programs and focus on improving employee experience. Employers would no longer miss out on innovative business ideas and workforce feedback.
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5) Emphasis on employee retention:
Employers are trying to battle the labor shortage in 2023. Companies have started increasing their salaries to attract the workforce. Some employers are working on beneficial packages and including perks like stock options and wellness incentives. The rest of the businesses are focusing on methods to retain the existing employees. The modern workforce will no longer tolerate poor treatment at work, and employers have to maintain a higher work standard this year.
6) Reskilling within the workforce:
Statistically, 7 out of 10 companies globally reported a talent shortage and difficulty in hiring. Companies this year will focus more on arranging training programs to reskill the existing employees instead of replacing them. According to World Economic Forum, about 40% of the global workforce will require reskilling of up to six months by 2024.
7) Increased focus on soft skills:
In 2023 digital skills will be in high demand. However, soft skills (emotional intelligence, management of dispersed teams, and effective virtual communication) will also be valuable in the remote work culture.
8) Improved workplace benefits:
As companies struggle to retain their top talents, they must bring some concrete actions into practice this year. Employees in 2023 will expect additional mental health support and other offerings that promote their wellbeing. Also, employers need to focus more on work flexibility this year.
Recent studies claim that 54% of employees would consider quitting the job post-pandemic if they are not provided the same flexibility at work.
9) Companies will work towards ECG issues:
Environmental, social, and governance issues (ECG) became crucial post-pandemic. Statistically, 78% of executives believe that ECG performance helps create more organizational value. A company is bound to attract more consumers and job seekers when they respond to issues like these.
10) A revised hybrid culture:
While the hybrid work culture keeps growing this year, the employers will work over the bias toward the remote employees. A major culture shift is expected in 2023 in which managers would take necessary steps that all the workers are treated equally.
We have experienced a great change in workplace trends over the past few years, and it will be interesting to see how the workplace trends evolve further.
