HR leaders discuss 2023's upcoming challenges
As we foray further into 2023, employers are wary about what the New Year holds.
Will an economic crisis cause a case of déjà vu for already burned-out leadership teams? Will we see a full return to in-office models? Will the talent shortage peak or wane?
HRD spoke with HR leaders at software company Ceridian to uncover what the future holds for employers, employees and – ultimately – the labour market as a whole.
Employee experience takes the limelight
While we never have a crystal ball into these issues, Susan Tohyama, CHRO at Ceridian, tells HRD that the employee experience will dominate people strategy this year.
“There’s no longer a one-size-fits-all approach to how employers engage their employees,” she says. From culture to career paths, there will be an increased emphasis on the uniqueness of employees and how the definition of success in the workplace has changed.
“Employees are looking for new skillsets, opportunities and career paths that are flexible and grow not just up the traditional corporate ladder, but in new and unexplored ways that are equally fulfilling and drive commitment and purpose,” says Tohyama.
Are your leaders “running on empty”?
Ceridian’s recent Pulse of Talent report found almost nine in 10 middle managers experienced burnout last year and seven in 10 felt stuck in their roles. And while you may have thought it couldn’t possible get an worse post-pandemic, it could. Michelle Bonam, VP of organizational effectiveness at Ceridian, says that 2023 should bring a renewed focus on “middle management” wellbeing.
“Leaders have spent the last several years under extreme stress, and they haven’t stopped to put their oxygen masks on first before helping their teams,” says Bonam. “Organizations hoping to retain their people leaders will need to take decisive action to overcome high rates of burnout and improve the employee experience.
“Prioritizing leadership self-care and balance through programs like wellness days, meeting-free days for focus, and providing leadership training for this new world of flexible work will be a key pillar of employee retention plans this year.”
Job losses and mass layoffs
You’d be hard-pressed not to have noticed the swathes of layoffs hitting the Canadian tech sector right now – with more expected in the coming months. As such, employees could be anxious and nervous about “who’s next”, so to speak. In order to combat this, employees are searching for companies they think will weather the termination storm – something that’s set to dominate the ongoing talent shortage.
“If 2022 was the year of the Great Resignation, 2023 will be about security,” says Steve Knox, Ceridian’s global talent lead. “With an uncertain economy and layoffs across big tech, more job seekers will be looking for employers that offer a balance of flexibility and stability.
“Holistic workplace and career flexibility will be a must-have for employees, along with competitive compensation, while top employers will need to double down on trust in order to provide value and meaning to lives of their workers.”