As we look at the world and how it has changed since 2020, the ripple effect is now being felt by America’s leadership teams.
As we approach 2023, let’s review the six areas leadership teams are currently evaluating:
Talent Shortage - A consensus is forming that the current talent shortage may be a long-term or permanent feature of the economy. This perception drives how HR leaders prioritize and allocate their resources in the next 12 months. Consider what this will mean for the current teams and how technology will be utilized to advance alternate possibilities of getting things done.
Labor Market - The labor market today is the most competitive in decades. 91% of businesses plan to hire in the next 12 months. With quiet quitting, quiet firing, and lateral leadership on the rise, there will likely be some excellent incentives for referring people to companies that are hiring.
Employee Retention - Employee retention will be the #1 priority of 2023. Company culture is the #1 driver of retention (with salary & benefits coming in a very close second). If you have a good team, right now is the time to keep them engaged and motivated. Check-in with your team and ensure they are appreciated, valued, and happy with the culture.
Wages - Wages will continue to rise, especially for blue-collar jobs. But the most successful organizations will find non-monetary ways to attract & retain talent. Benefits are anything that helps you retain that employee.
Employee relations - The relationship between organizations and workers is changing in fundamental ways. Employees at all levels expect more from their employers than they did in the past. This means today’s leaders must step up their game to retain their team. Employee relations have never been more critical.
Company culture - The pandemic exposed the strengths and weaknesses of company cultures. Organizations that came through the pandemic stronger than ever had company cultures prioritizing trust, communication, manager training, and a sensitive approach to balancing political polarization in the workplace.
Since we don’t know what the future holds, doing our best to keep, retain and grow our internal staff is top-of-mind to every leader. Make sure you look at your company, organization, and team to assess if you are ready to meet the challenges of 2023.
Stratengy is here to help you navigate being a great leader in today’s world. Stratengy runs six-month programs on how to transform your team. We incorporate the Disc Assessment and the Five Behaviors Assessment to build trust and cohesion at every level. Reach out to us today to learn how we can help you and your team be more engaged, collaborative, and productive.