Workforce Trends Shaping 2023

• Flexible Approaches Resonate with the Workforce
  62% of respondents said they prefer a mix of in-person and remote work, and 63% said they expect their company to offer that kind of flexibility in the next 12 months. In other words, hybrid work is here to stay. Companies must invest in technology to support remote work and put the right governance in place over decisions regarding remote work, pay, promotions, and internal development opportunities that combat ‘proximity bias.’ 

• Employers are Focusing on Internal Measures to Address Skills and Labour Shortages 
  To close the skills gap and address labor shortages, companies are investing in their current workforce through upskilling and increasing wages. Upskilling is training your employees about new tools or improved systems to help them advance in their current position. Upskilling helps build successful organizations as it allows you to retain talent and attract qualified new employees. When you upskill employees you are anticipating the right skills for the future and laying a foundation for success. 

• Meaning Matters to Employees
  In their findings, PwC confirms that money is the top factor when retaining employees. However, pay isn’t enough by itself to retain workers, who were almost as likely in their survey to cite intangible factors related to job satisfaction. The ability to be one’s true self at work and job fulfillment were ranked among the second and third attributes when considering a job change. Read more to see why philanthropic companies are thriving.
  

So what is the key takeaway? Companies need to start gathering information from their own employees regarding their sentiment towards hot topics such as job flexibility, compensation, upskilling, empowerment, and overall job fulfillment.