2023 is a new year, and while no one can predict the future, emerging trends may give us a clue as to what we can expect going forward. Want to look ahead and prepare for the new year? Here are five workplace trends that could have a big impact in 2023.
1. Continued Challenges with Hiring and Turnover
According to Forbes, voluntary quit rate (2.7%) and turnover rates (3.8%) are unusually high. Combine that with the large volume of people in the labor market, the massive number of jobs created in the last two years (11.2 million), and a low unemployment rate (3.5%), and we're seeing a job market that looks a bit like an ongoing – and competitive – game of musical chairs. Qualified job-seekers have leverage, and companies need to be fiercely competitive to hire and retain them.
2. Employee Well-being is Paramount
Driven by the confines of COVID lockdowns and the Great Resignation, companies have been forced to confront the issue of employee well-being, a focus that continues to deserve increased attention.
3. Flexibility Continues to be a Priority
For years, younger workers comfortable with technology have requested the option to work from home and were met with little enthusiasm. Then COVID changed the equation, legally mandating the very thing they'd asked for. This experience proved what employees had been saying all along – that many jobs can be done effectively from home, and doing so can provide a significant boost to productivity, job satisfaction, and work-life balance.
While restrictions around COVID may be trending down, the point regarding work-from-home and hybrid arrangements has been made. Employers can no longer pretend it can't be done, and when given the opportunity to work flexibly, 87% of workers jump at the chance. Meanwhile, 64% of workers would consider quitting if asked to return to the office full-time.
If they wish to remain competitive, employers can no longer ignore their workers' input regarding where and how they'd like to perform their responsibilities. They have to listen and allow for flexibility – or be prepared for employees to walk to competitors that will.
4. Increased Utilization of Automation and AI
The race to automate work continues, and every year new innovations push the abilities of AI forward. Recently, powerful tools like Chat GPT and DALL·E 2 have made significant breakthroughs and brought the technology – and the conversation about it – to the masses.
Their inevitable impact on many industries has prompted a statement from the White House regarding an AI Bill of Rights, and as its use increases, AI is likely to continue to have many legal and ethical ramifications for businesses. The situation and technology are evolving rapidly, so be sure to keep up to date about the availability of these tools and their implications for your industry.
5. A Reaffirmed Commitment to Sustainability
According to a recent Gartner survey, the number of companies that consider environmental issues to be a top-three priority increased sharply from the previous year, and the concern itself was the 9th most cited among all businesses surveyed.
Allied Market Research valued the global green technology and sustainability market at $10.32 billion in 2020 and projects its value will reach $74.64 billion by 2030. Expect to continue to see companies making changes in how they do business in an effort to become more sustainable, and expect to see positions and markets serving this need to thrive. Looking for a job? See who's hiring at CyberCoders.com.
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