Nearly 95 per cent of employers are worried about keeping talent in place in 2023, but more than half, or 55 per cent, indicated the greatest HR challenge will be managing employee expectations, according to research from WTW.
More than a quarter or 28 per cent of respondents to a recent WTW poll indicated focusing on enhancing business culture and 29 per cent stated upskilling current employees is the greatest strategy for addressing the present labour shortage situation.
WTW senior director and work & rewards leader Alastair Wood says: “Between the cost-of-living crisis, an economic downturn and the Great Resignation, 2023 poses some challenges for HR. While companies need to be attractive to candidates and existing employees, this needs to be weighed up against delivering realistic actions. Companies need to decide the priorities early on.”
Organisations are planning to continue their focus across a range of topics, such as inclusion and diversity, pay equity, training and development and performance management.
WTW Europe head of employee experience Gaby Joyner says: “It’s great that companies will be focusing on upskilling existing staff in 2023 but company culture is also a key aspect to attracting and retaining talent.
“Find out what people want on the ground. Employee surveys and focus groups can help decipher what’s most important to your workforce, so you can prioritise where change needs to happen.”
