The Most Notable HR Trends That Will Reshape the Labor Market in 2023

The world of work has changed a lot in the past few years, and workers constantly keep employers and Human Resources groups try when they demand better job benefits and higher wages.

Amid macroeconomic issues, employees played hard against their bosses as most workers demanded higher wages. According to the US Bureau of Labor StatisticsWages and salaries increased by 5.1% in the 12 months ending September 2022.

Despite the wage increase, inflation for the period recorded in September remained high. higher at 8.2%only recently fell when the Federal Reserve sharply raised interest rates.

Not only are employees demanding higher pay, but a host of workplace benefits including remote working, flexible schedules and retirement contributions have caused millions of workers to change jobs amid the global pandemic. impending economic recession.

In a recent report by Robert Halfabout 46% of the more than 2,500 working professionals surveyed are currently looking for a new job or planning to change careers in the first quarter of 2023.

Among those looking for new opportunities are young professionals, 18 to 25 year olds, working parents, employees who have worked at the same company for two to four years, and human resources professionals. the.

As the landscape is constantly changing and workers are looking for newer and more interesting things chancesHow can HR prepare itself for the evolving labor market of the future?

Promoting Employee Health and Wellness

Pandemic and work remotely has helped millions of employees understand the value of flexibility and more time for themselves. At the same time, it has also made many people realize that without taking the necessary time to rest and relax, work-related stress and anxiety can lead to severe burnout.

In the coming year, we could see more employers care about the health and well-being of their employees, especially as work-related stress leaves many of them feeling burned out.

Workers want to feel happy and want to know that their bosses care, so it’s likely that many job seekers will seek out companies that promote employee happiness, but also ensure employees get the rest they need. set during the year.

Flexibility in the workplace

If there’s one thing the pandemic has taught us, it’s how we can become more flexible with our work and life schedules. This year, we’ll see more companies adopt a more flexible approach to their employees’ schedules, including the time they spend in the office or at home.

Not only are more and more employees asking to work remotely full-time, but some are now opting for a more hybrid plan, which will keep them often in the office. Promoting flexible working hours and schedules will be a big plus for companies looking to attract top talent.

Create a more people-focused work environment

Technology has allowed employees to connect better than ever, and while it provides on-demand solutions to team members, it can often leave many people feeling disconnected from the rest. back of the office.

Not only has technology squeezed in between employees and their employers, but pressure from management has made employees feel increasingly unmotivated, dehumanizing the entire office and office experience. company chemistry.

This year, we will see more offices focusing on the people element of the office and the company to ensure that it can foster greater inclusion among colleagues, while helping to promote a better working environment. healthy work for all types of workers.

Internal promotion

Instead of recruiting from outside the company, HR teams will target existing employees to fill vacancies or vacancies. Not only does this help make the whole process a lot simpler and easier, but it also helps encourage employees to know that there is always room for growth and career growth.

Internalizing positions among current employees will help management realize the potential of the team and how employees can grow as they are assigned new and better positions.

Internal advertising will not only make it easier for a company to fill positions, but it will also bring some financial benefits to it, as recruiting from within the company is often more budget-friendly than advertising for it. new applicants.

Technology will help improve personnel

Technology is already found in almost every part of the business and office, and over the next year, we could expect to see more tech-enabled features and tools make its way to HR.

These types of tools will help HR teams find the right talent pool for open positions, provide more transparent reporting of employees, and give them better access to market insights. school.

Technology will play an important role in how HR manages employee wellness, monitors employee leave or holidays, and facilitates employee engagement. Technology will have a more prominent role in HR, while team leaders take more ownership of how to manage and motivate employees simultaneously through these tools.

Final thoughts

As much of the business undergoes some change, HR will also see some new trends emerge over the next year, as the labor market changes and employee needs keep changing. .

For most of the New Year, it’s important for employers to stay up to date with new trends and how these trends will impact the company, current employees, and any potential growth. any in the future. Having more room for improvement and allowing more flexibility will help HR teams find the right talent in a tight labor market.

Published first on ValueWalk. read here.

Featured image credit: Edmond Dantès; Pexels; Thank you!



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