The last 12 months have been turbulent and workforce planning has been challenging, the world gradually seemed to be returning to normal after the global outbreak of COVID-19 but then Russia invaded Ukraine and the high cost of gas and oil pushed up prices resulting in rocketing inflation, leaving many workers asking for a pay rise, or seeking career opportunities elsewhere to increase their salary. So, if you are planning for 2023, what workforce trends can you expect?
Those with skills that are highly specialised will remain in demand and organisations should maintain investment in career development for all employees as retention will still be key for 2023. Retaining talent has never been more important in the current climate and employees expect more than an LMS to develop their skills. Some solutions to developing skills might be setting up mentorship programmes, providing coaching, creating incredible secondment options or short term gigs allowing your employees to experience and learn in different areas. Developing employee skills (soft, social and technical) are key to keeping your workforce motivated, challenged and ready to adapt to the business future needs.
Organisations that don’t offer flexible and hybrid working will continue to struggle to attract talent but also to retain members of staffs, as a work / life balance remains an important aspect. During the COVID-19 pandemic, many people realised what was important to them, that could be anything – spending more time at home, getting healthy, environmentalism, diet, travelling. Individuals were given the opportunity to reflect on their values and the way they lived their lives and organisations have the opportunity to embrace this reflection and have an inspired and content workforce.
Invest in your people
Companies have been heavily investing in their workforces as they aim to close the skills gap, however, a PWC report highlighted that only 40% of employees said that their company is actually upskilling, in addition to that, companies should also ensure their salary offerings are in line with market rates and award pay rises to retain employees. The 60% of organisations who are not investing in upskilling will find themselves with a skilled workforce that is not in line with future business goals.
Mental health and well being at the workplace
Over recent years, there has been an increase in ‘burnouts’ resulting in employees ‘quietly quitting’. The reason being that employees are becoming overworked as companies attempt to reduce their overhead costs and combat high operational costs, which then increases workload and pressure on employees.
Whilst the workload intensifies, employees may also be struggling with the rising costs of living, which in turn escalates the likelihood of stress and burnouts. How can organisations overcome this? By putting a framework in place that recognises the signs of stress and burnouts, and also offering support with an employee assistance programme.
The above is just a small example of issues you may wish to consider in your 2023 workforce planning. On November 16th at 11:00-12:00 CET Career Star Group is hosting a webinar with a panel of HR experts who will be discussing the challenges the economic crisis brings in 2023 and the strategies that have put in place to mitigate risk. Sign up Here.