Top 10 Workplace Trends in 2023, Get Ready for the Changing Times

Nothing is static in this ever disrupting geopolitical world. Ever since the pandemic, the workplace status quo has changed a lot and is still finding ways to settle down. As we enter into 2023, let us take you through the top 10 workplace predictions/trends that are going to reshape the face of corporate work culture.

1. Companies will continue being cautious in taking actions

Though there are people who are bluntly denying the impact of the recession, most the companies are deeply concerned about current macro-economic conditions. Thus, companies will continue being cautious while taking decisions and focus more on budget reallocation and risk mitigation.

2. Skilled talent and employee retention to top the priority list

Nearly 4 million Americans left their jobs in October 2022, resulting in more than 10 million job vacancies. This widened skill gap will force companies to look beyond boundaries for skilled labour and offer attractive benefits to retain the existing talent. Companies will surely look for global talent and depend more on EOR/PEO platforms for international hiring and payroll management.

3. Remote based work-life-flexibility will dethrone hour based office culture

The concept of remote work is no more connected with the pandemic. Employees are urging companies to assess their productivity based on the number of deliverables instead of the number of hours spent. Thus, it has become a mandate for companies to explore different remote and hybrid work models to ensure work-life flexibility.

4. Mental well-being of employees is yet another priority

As 1 out of 3 employees is struggling with stress and depression, companies are trying to protect their employees from experiencing excessive stress and breakdown. Companies are looking for more efficient ways to promote mental health and overall well-being among their employees.

5. Degrees are just for namesake; the future is all about gen z and their skill set

Gen Zers are going to change the traditional work culture forever. According to a survey, more than 70% of Gen Zers are ready to accept a pay cut to do more meaningful work. Companies are also willing to tweak their assessment criteria to invite candidates based on their skill set to perform in the role irrespective of their academic background and previous experience.

6. Get ready for the rise of automation and artificial intelligence

Companies will rely more on automation and artificial intelligence in 2023. On one hand, the advent of AI might help companies increase their productivity, but on the other hand, it might disrupt the labor market to a large extent. Keeping aside the negatives, these technologies will transform HR operations forever.

7. Diversity, equity and inclusion (DEI) to demand more attention

The business case of diversity, equity and inclusion (DEI) is getting stronger day by day. As we enter 2023, companies are paying more attention to DEI in the workplace. It is now evident that companies with more diverse cultures are outperforming companies with confined boundaries.

8. Companies will invest more on monitoring their employees

As remote work has become a new normal, more than 60% of companies in the USA are deploying time tracking applications to monitor their employees. Remaining companies are also making efforts to follow the same route. Microsoft CEO, Satya Nadella has termed this phenomenon as “Productivity Paranoia”, which is likely to stay for a long time.

9. Pay transparency to become a new trend

It is a fact that there is no equal pay policy in the current job market, especially in the corporate sector. To address this inequality in pay, the concept of pay transparency has emerged. As companies are striving for top talent and employee retention, pay transparency can prove beneficial.

10. More companies to implement four-day work week model

In 2023, we might see employers say goodbye to the traditional five-day work week model. A recent study shows that 86% of US companies are experimenting with four-day work week model and are likely to continue the same if results are positive.

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