HR Trends of 2023
Ever since the beginning of the ongoing pandemic, changes in how we work, where we work, the technologies we use are constantly changing day by day. Although some of these “Changes” were started before the pandemic. In this blog, we shall explore some of the trends in the HR industry during the ongoing year of 2022.
1) Job Seekers seeking for companies with values that match their own:
Yes, you heard that right!. Ever since the pandemic, Employees are constantly looking to apply to companies that have similar values to that of their own. This trend can also be seen in companies as more and more companies/businesses see CSR as a strategic approach to increase their competitiveness as well as their overall public image when it comes to investing in a company or when it comes availing their particular product or services as well as work for them.
Here are some of the values that employees give most importance to include:
a) Equal Pay
b) Racial Justice
c) LGBTQ rights
d) Workplace Equality
2) Skill Based hiring:
As discussed in one of our previous blogs on “What’s causing the global shortage”.
A seemingly ever-growing skill gap is one of the main reasons behind the global labor shortage of today. Due to this growing skill gap, being able to demonstrate one’s capability in new skills has become the way to go when it comes to talent mobility. Since a college degree just doesn’t cut it any more when it comes to have any of these skills that are of huge demand in the present. As a matter in fact, according to a report by glass door companies ranging from google, Hilton hotels and apple are offering well-paying jobs to possessing in-demand skills even despite lacking a degree.
3) Upskilling:
Although this is related to the previous point, Companies like amazon are heavily investing millions into upskilling their current workers. Another example of upskilling can be seen in Mastercard who has been running its own retraining/upskilling program since the year of 2016 to gain a competitive advantage over its competitors.
Moreover, In the long run upskilling and reskilling programs can improve employee engagement, retention and speed up the adoption of new trends within an organization.
4) The Rise of Hybrid Work:
Hybrid work is a flexible work model that supports a blend of in-office and on-the-go / stay at home workers. This model offers the employees especially the autonomy to choose to work whenever they want, wherever they want and however they want to as long as they are the most productive.
The lower number of employees working at the office at a given time would also mean that the number of sick leaves would be much less, thus increasing the overall productivity of the office itself! Businesses looking to hire talent from across the globe, can do so with a hybrid work model.
This does not only give your organization a competitive edge but can also help you in expanding reach to new regional markets, and ensure productivity in your workplace 24/7.
