“There will be increased benchmarking of niche roles amongst competitor baskets,” Manish Sinha

2022 was a volatile year for HR & workforce

In these highly unpredictable times, organisations as well as employees are clearly taking a near-term view. The Great Resignation was a result of reprioritisation on the part of employees.

Many of them decided to take opportunities that were less demanding and / or allowed them to work remotely. We saw quiet quitting, moonlighting and massive layoffs as well. I believe the work-worker-workplace equation is pivoting to find a new balance. Employees are seeking balance between purpose, fulfilment and growth.

On the other hand, with renewed fear of COVID and global recession, organisations are being compelled to look at their cost structure.

Managerial ownership of talent has always been pivotal to anchoring talent in an organisation

2023: Will it be a turmoil again or peace?

The year will see increased emphasis on flexibility, gig opportunities, digital transformation, upskilling and mental well-being. Businesses will continue to rise to ESG-related challenges and work towards accomplishing greater results in that area. Hybrid working will continue to be in high demand as fresh fear of COVID sets in.

Employee loyalty, a thing of the distant past

Employee loyalty will continue to be directly proportional to purposedriven work, constant learning / growth opportunities and meaningful organisational engagement. Managerial ownership of talent has always been pivotal to anchoring talent in an organisation. Employees need to find purpose and feel a sense of belonging at their place of work. Employees shall continue to look for growth opportunities either within or outside the organisation.

Employees need to find purpose and feel a sense of belonging at their place of work

Pay transparency or staying discreet?

Organisations will continue to be discreet about salary ranges in front of the employees. However, there will be increased benchmarking of niche roles amongst competitor baskets. Roles that are fungible across industries will continue to be in high demand. Volatility in the external job market will also encourage employees to look at opportunities within the organisation. A larger impetus is likely to be given to the internal job market.

Importance of employee talent bringing HR closer to the top role

Mental, psychological and social wellbeing will continue to gather greater mindshare, and organisations will have to lay greater focus on ideas/ opportunities to help employees destress. Mental well-being will continue to be an area of intervention, and progressive organisations will step up efforts to drive action in that direction. There will be an element of inbuilt stretch in almost all roles and employees equally will have to identify their tipping point.

33 leaders predict the upcoming trends for 2023. To find out more click here.