In an ever-changing work landscape, there are constantly new issues for Human Resources personnel to tackle. These elements of the personnel manager’s workbook include employees wanting to work from home and economic circumstances meaning that individuals may desire to be compensated more for their work.
Researchers at Coople have considered some emerging trends that businesses need to be aware of at the current moment, based on what they have observed so far in 2023. This is from the perspective of the UK workplaces.
Financial wellbeing
With ongoing economic circumstances causing much of the UK population to struggle financially, salary has become one of the key concerns for most employees – particularly those on a lower income. Salary reviews, pay equity and benchmarking are all likely to be high priority for HR managers to avoid losing existing talent. Similarly, employee benefits and their communication are becoming increasingly important.
However, the economic climate has also had a significant impact on businesses, meaning not all can afford to increase their workers’ salaries. Flexible workforce management – such as utilising short-term staffing – can play a key role in ensuring that the core team is adequately paid while, at the same time, reacting flexibly to external circumstances.
Diversity and inclusion
All businesses should be striving for a diverse and inclusive workforce. Not only does this lead to better employee satisfaction – knowing that everyone belongs – it can also increase productivity, by bringing in employees with unique experiences and skill sets that can benefit the workplace.
The digitalisation of the workplace has helped to make diversity and inclusion easier – providing an extended reach, and therefore a diverse pool of applicants within a very short time regardless of location. Diversity strategies can be implemented easily and in a targeted manner, by job offers being made accessible to all people – regardless of their background.
Older workers
There has been a recent trend in the number of 50-64 year olds employed by companies. In June 2022, the employment rate for 50–64-year-olds was 70.7 percent, up from 57.2 percent in 1995. The increase in elderly workers helps to actively counteract the shortage of skilled workers.
Employer branding
Employer branding is one of the key trends for 2023, allowing companies to improve their image and reputation to potential employees. It is essential, as a company, to communicate that the wellbeing and development of employees is important to them – in order to make themselves appealing.
This is especially important for younger workers. Statistics show that 92 percent of Gen Z and Millennials say that they would consider changing jobs to a company with an excellent corporate reputation. Every company loses potential talent and future leaders if this working climate cannot be communicated effectively.
