HR Trends to Look Out for in 2023
The workforce is ever changing, and the past few years have definitely presented a number of situations for human resources (HR) professionals to navigate. While 2022 brought some sense of normalcy back to the workplace, there were still challenges for HR and employees to overcome, including hiring shortages, hybrid work, retention struggles, and economic shifts.
As employers and managers look ahead at 2023, many of these challenges may still be lingering, which is why you might want to work hard to secure your talent this year. To do so, HR professionals are recommending strengthening your culture and taking good care of your employees.
That said, here are 4 HR trends to look out for in 2023.
Regardless of how the 2023 economic landscape evolves, employers should look to introduce or strengthen financial wellness offerings this year. This will help them stand out as a top option to applicants, and show existing employees that they are looking out for their future.
Today, competitive financial wellness plans include more than just a 401(k) plan. On top of offering a standard retirement package, consider also introducing profit sharing or employer matching, and providing access to investment advisors.
Personal and professional development
Implementing professional development opportunities can be a great way to retain employees, boost morale, cut costs on hiring, and grow your business. Employers can consider examples like mentorship opportunities, continued training, e-learning tools, access to seminars/webinars, and more.
Start the conversation on the manager/employee level, and encourage managers to recommend potential learning opportunities, identify the appropriate learning format (e.g., online courses vs classroom trainings), and discuss progress.
Flexible Work Policy
If there's one thing we've learned over the past few years, it's that remote and/or hybrid positions can be successfully implemented within many businesses. Many employees want to continue with this flexibility, which empowers them to factor lifestyle choices into their work schedule.
When it comes to retention, employers may want to favorably promote flexible working. This also rings true for hiring, as many members of the talent pool are looking specifically for flexible roles. As a result, organizations offering these opportunities may have a competitive edge moving forward.
Inclusion consists of building a workplace culture where all employees feel welcome and appreciated. An organization can strive for an inclusive environment by removing barriers and emphasizing respect and support amongst all team members. By promoting inclusion in every aspect of your organization, you can create a healthier, more productive workplace.
Training your management team, enhancing your company culture, and updating hiring processes are just a few ways to work towards change. Be sure to also include employees in the conversation, and ask them what support they might need from their team.
Implementing these trends into an organization can be a challenge, especially for those with limited resources. Thankfully, SynchronyHR is here to help.
Our team of human resources outsourcing (HRO) experts can provide guidance, and help your organization gain access to health insurance and retirement offerings, learning management tools, applicant tracking technology, and more.
Get in touch with us today to learn more!