2022 was a volatile year for HR & workforce
While 2022 was volatile, the environment today has also come to be so unpredictable that we can hardly plan to shock proof. Focus has shifted to sustainable growth. As the market changes its personality, so does the business. A semi post-COVID environment opened up opportunities sending markets into a spin. It was an employees’ market for a certain period post which there were strong headwinds in the e-commerce space that led to some difficult decisions being taken. The underlying message here is that the fundamentals need to be strong and that makes all the difference for the organisations when it comes to handling market pressures.
2023: Will it be a turmoil again or peace?
2023 will be a cautious year with companies choosing talent carefully. Non-tech sectors will see a huge demand for senior talent. Experience will triumph over everything else. Key focus areas for most organisations will be to hold on to their talent and ensure that they stay connected. Most companies will ‘wait and watch’ for the first six months post which huge investments will be made in talent dynamics.
Key focus areas for most organisations will be to hold on to their talent and ensure that they stay connected
Balance between rising inflation and changing employee expectations
Companies will have to continue to spend on employees, which includes investments on training, digitisation and welfare. After all, the returns are long term and any short cuts or a myopic approach will only lead to demotivation and talent exodus over a period. HR will need to balance the same taking into account all factors.
More growth – oriented skills
There will be demand for talent capable of making a difference. Companies will expect value add from talent. Ways to make group synergies create a win-win situation for all will be the focus.
Diversity to be linked to upskilling and reskilling
Gender diversity, upskilling and even performance assessments of companies will come to the forefront. Competitive advantage will come from variety and not necessarily from talent competitiveness alone.
33 leaders predict the upcoming trends for 2023. To find out more click here.
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