01.03.2023 Human Resources Talent management Talogy Trends

4 HR “must do” in 2023

As 2023 begins, employers are worrying about trends in the talent management landscape that have emerged in prior years such as, talent scarcity, bore out and quiet quitting. Engagement issues have become increasingly prevalent among the workforce, making it all the more important for organisations to focus on developing HR strategies that address retention, prevent burnout and workplace exhaustion, and provide a sense of purpose and fulfillment to employees. By putting extra emphasis on understanding existing trends in talent management and incorporating them into their HR strategies, companies can ensure their employees will remain engaged, motivated, and productive throughout 2023.

Providing Learning and Development Opportunities

Lindsay K. Beers, OD Consultant, Development Solutions at Talogy says

Historically, learning & development (L&D) opportunities were viewed as nice-to-haves. Now, however, they are becoming a must-have item on employees’ checklists when shopping for new career opportunities and when deciding whether or not they want to stay at their current workplace.”

Organisations need to invest more in Learning and Development (L&D) opportunities as they have become a major factor when it comes to job satisfaction and employee retention. Having access to tailored, targeted programs can not only help employees gain new skills but also make them feel valued by their employers – which is especially important as the average person spends one third of their life working. This investment will foster higher engagement levels within the team, allowing for individuals to take initiative to better organisation performance.

Prioritizing Diversity, Equity, and Inclusion (DEI)

The importance of proactively promoting DEI cannot be overlooked in today’s climate both from an ethical perspective and from an organisational standpoint. Developing an environment that encourages connection, inclusion, appreciation and purpose-driven engagement is essential for successful recruitment and engagement efforts. Organisations should move away from “one-and-done” training sessions towards continuously exploring ways to further improve diversity initiatives with actionable insights that promote equality throughout the company.

Implementing Modern Assessment Technology

Attracting and recruiting new employees will also remain a top priority for organisations, the talent shortage will probably not slow down and providing a great candidate experience is a must.

Modern assessment technology can play a big role in helping organisations with efficient candidate selection methods such as automated assessments or customised reports that allow them to accurately measure the competencies and fit to the job while preserving an excellent candidate experience. The hiring process does not end once the new employee joins the company, it is also key to implement a structured induction plan based on the assessment results. Not only does this expedite the hiring process but it also allows organisations to be flexible to face changing labour market dynamics.

Renewing the focus on leadership development programs

A Gallup analytics revealed that 70% of the variance in a team’s engagement is due to their manager. Having engaged employees must therefore start with a very strong focus on leadership.

Leadership development programs are critical for organisations to make the most of their existing pool of leadership talent. Blended learning, resilience coaching, and emotional intelligence enhancement are all excellent tools to achieve this. A 360 approach is also one of the best and most proven ways to kick-start leadership development as well as initiate change management. It helps to identify potential areas for improvement and provides a comprehensive understanding of how individuals interact within the organisation. It can be leveraged for targeted programs that meet specific needs. Furthermore, leveraging data from previous 360 results can help create more accurate objectives and track progress over time as well as provide more meaningful feedback loops between teams.

By renewing the focus on leadership development programs, organisations can ensure that their top talent remains engaged and productive while also retaining an advantage in terms of employee retention rates and overall morale.

As we move forward into 2023, don’t forget to prioritize learning & development opportunities, diversity & inclusion efforts, and implement modern assessment technology if you want your organisation to thrive! If you would like to learn which competencies will be required for future organisation success, download Talogy’s Research Report “Changing Success Criteria in the Reshaped World of Work”.

Source: Talogy