To say that work culture has changed in the past two years would be an understatement. As we move into 2023, companies are facing new challenges, from dealing with dispersed workforces to the impending threat of a recession. However, there are also plenty of opportunities for businesses to come out ahead this year and craft a work environment that employees – whether in-person, hybrid or remote – are proud to be a part of.
This article will cover trends that HR teams should be aware of heading into 2023, including the economy’s potential impact on employers and employees, technology’s ever growing importance in the workplace, cybersecurity best practices, and tips on creating a thoughtful company culture.
Economic Impact
As interest rates continue to rise and inflation remains high, business owners should ensure that their 2023 plans account for a potential economic downturn. But before jumping into action, it’s critical to stop and understand the “why” behind any business decision.
HR and finance teams must work collaboratively with the CEO to create a plan that accounts for all of the company’s expenses, such as payroll, taxes, equipment, software, marketing, rent and insurance. After taking a holistic view of their finances against their business needs, some companies might realize they’d benefit from investing in retention and recruitment tactics (e.g. enhancing their benefits package), while others may find it more useful to invest in their digital infrastructure (e.g. investing in technology to support a dispersed workforce).
Having a recession strategy in place enables companies to look for financing early before interest rates go up again, and can also help them decide how much money they’ll have to reinvest in areas of their business that need additional support.
Digital Rules of Engagement
Remote work isn’t going away, but it also isn’t as complicated as employers initially imagined. Most workers are not packing up and moving abroad for two months, but rather working from home or requesting short-term travel for “workcations.” This should ease employers’ fears about compliance and tax issues, and may even inspire them to reimagine how a dispersed workforce could benefit their business.
To support remote workers and hybrid work environments, companies should consider optimizing their software (e.g. automating HR requests), improving their intranet, and/or installing updated equipment in their physical offices. For example, in a hybrid work setting, installing webcams and screens inside conference rooms can make it easier to collaborate with employees joining meetings over Zoom.
Since work is now virtual first, managers should also be thinking virtual first when it comes to employee engagement. Keep a virtual ‘open door’ policy so employees feel comfortable reaching out via different channels(e.g. IM or video call), schedule mandatory monthly or quarterly virtual meetings that allows your entire team to connect, and plan digital hangouts for things like birthday celebrations and baby showers.
Cybersecurity Best Practices
It’s inevitable that employees will work from different devices – laptops, tablets, mobile devices – in various locations, with potentially unsecured Wi-Fi setups. At this point, it’s the norm. Embracing new technology will continue to remain important in 2023 as hybrid work only grows in popularity. According to one AT&T survey conducted across the retail, energy, healthcare, manufacturing and finance sectors, 97% of respondents believed offering a hybrid model would help attract better talent.
Ensuring that your workforce has proper IT and cybersecurity training is crucial to keeping your proprietary business data secure. Verizon’s 2022 Mobile Security Index revealed that nearly 8 in 10 organizations say remote work has increased the burden on their security teams, and 45% of organizations have experienced a mobile-related security compromise this year (nearly twice as many as 2021).
Some things companies should do to combat cyberthreats in the digital age include requiring team members to complete basic cybersecurity training, using multi-factor authentication to sign into work-related programs, and using a secure VPN when accessing company resources.
Company Culture
In terms of recruitment and retention, having a company culture that aligns with your employees’ values can make all the difference. Company culture goes beyond having a Nespresso machine and a foosball table in the common area. It also encompasses things like benefits and pay equity, which should be woven into the fabric of a business’ ethos and operations.
For managers and business owners actually interested in making a change, consider doing a company-wide study to see which areas your employees feel need improvement. Are there certain benefits they find more or less useful? Do they feel they are being fairly compensated? Are there sufficient opportunities for growth and promotion?
After the study is done – and this part is key-- your business should actually do something about the results. Make sure you consult with your legal and finance departments to understand your options. For instance, if the results indicate that there is, in fact, a discrepancy between gender and salary, have a plan and funds set aside to offer pay increases where appropriate. Clearly communicate your intentions with your employees and then act on those intentions.
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