5 key employer trends to consider in 2023

Each year brings its own unique set of challenges for businesses looking to attract and hire talent, and 2022 was certainly no different.

For much of the year, job seekers held the upper hand and the ‘Great Resignation’ and shortage of talent in many areas left employers in difficult positions.

Throw the economic uncertainties and rise in the cost of living into the mix, and if 2022 has taught us anything, it’s that employers need to be prepared for 2023 and understand the trends in the candidate market.

To help, we’ve looked at a number of sources and have pulled together 5 key employer trends to consider in 2023:

 

1. Bonuses, L&D and alternative perks more popular due to economic uncertainty

Employers will need to look to creative and flexible measures if they’re to continue to attract and retain employees.

Bonuses, flexible work schedules, genuine emphasis on the company’s social impact and increased learning and development opportunities are predicted to be popular choices by employers looking to keep their teams engaged.

While increased pay can entice employees to stay, investing in their career growth and prioritising their work-life balance demonstrates they both add value and are valued.

 

2. Company culture is vital

For employers looking to attract and retain employees, the value of your culture cannot be overlooked, particularly amongst Gen Y and Gen Z staff.

Creating a culture that’s enhanced by the people you hire will help you stand out from the competition and has a number of significant benefits including increased retention, job satisfaction, growth opportunities and productivity and collaboration.

 

3. Prioritisation of internal mobility

A greater focus will be placed on providing more opportunities to existing employees as highlighted in the LinkedIn Global Talent Trends Report.

The data from the report highlighted that employees who make internal moves are more likely to stay with their company than those who stay in the same role.

Where internal mobility processes are not employee-friendly, this can seriously impact their turnover so transparency around the opportunities and internal process is key.

 

4. Remote work here to stay

For many working in tech-focussed sectors, remote work has become a mainstay and it isn’t going anywhere in 2023. In fact, remote jobs in the UK rose 274% since the start of the pandemic, while searched for remote work increased by 674%

What’s clear is that remote, hybrid and flexible working will be a permanent feature throughout 2023, and the companies who continue to adopt these practices will have greater access to a wider their talent pool

 

5. Diversity and Inclusion remains a key focus

A study conducted by Glassdoor found that diversity and inclusion policies are most important to youngest members of the labour market.

So, as more and more Gen Z employees enter the workforce, employers need to consider how their efforts appear to a generation that care deeply about these initiatives.

Equally, in a tight labour market, the ability to attract and engage a diverse candidate pool and provide the opportunities and platform for them to excel is significant for companies looking gain a competitive advantage.