Employee retention remains a major concern for businesses across all industries. As 2023 gets into full swing, many companies are turning over a new leaf and implementing novel tactics to help them make this year their most productive one ever. Here is a look at some of the top human resources trends geared toward employee retention you can expect to see this year.
One of the hottest human resources trends for 2023 is gamification, which entails using game-style elements in a non-game context. In the workplace, it may involve using badges, leaderboards or points to motivate employees to meet their goals.
This approach can also be used in a business context to engage employees and encourage them to take on new skills or expand their knowledge in a specific area. For businesses that want to implement gamification effectively, it is important to ensure that the games they create are actually fun and challenging yet not too difficult. These types of activities can go a long way toward keeping employees happy in their role and engaged with the company.
Another big trend that is making its way to human resources this year is the metaverse. Gartner reports that a quarter of people are expected to spend at least an hour per day in the metaverse by the time 2026 rolls around. From employee onboarding and career fairs to meetings and virtual events, the metaverse can help businesses create a collaborative and creative world that is not confined by physical limitations.
Modern brands that want to keep their employees interested in their job and inspire them to stay on board can look for ways to take advantage of the many possibilities offered by the metaverse. For example, it can be used to facilitate hybrid working policies as many employees are looking for jobs that offer them the chance to work from home.
2023 will see a continuation of the recent trend toward remote work. As more employees demand flexible work arrangements, an increasing number of companies are finding ways to make this a reality, whether it is through a hybrid arrangement or by leveraging technology to make it easier for employees to work from home on a part-time or full-time basis.
HR teams are working on policies and procedures that can help make this possible, and ensuring that their collaboration and communication tools are up to date to maximize connectivity.
Promoting from Within
Another HR trend that will be seen in 2023 is promotion from within. This is a natural extension of the general focus on employee retention, and internal mobility is playing a key role.
More companies are making investments in upskilling and reskilling existing employees so they can be prepared for more technical or advanced roles. This will help employees progress in their field while enabling companies to accelerate their recruitment process without needing to outsource talent. This means they can take advantage of the insight they already have into employee performance and decide which workers have untapped potential that can be explored.
Many businesses are placing a greater emphasis on employee wellness as part of their retention efforts, and one big area of focus is countering employee burnout. While compensation can go a long way toward attracting and retaining top talent, wellness programs that prioritize the happiness and health of the employees are becoming increasingly popular.
Some businesses are increasing the mental health services that are offered by their healthcare plan, while others are taking more novel approaches to expanding their employee wellness programs. For example, some businesses are offering programs related to smoking cessation, stress reduction, weight loss and exercise, while others are offering nutrition education, health screenings and risk assessments. Some employers are also taking steps such as offering employees access to meditation programs and creating pet-friendly workplaces.
Greater Transparency Regarding Pay
Colorado and New York have recently implemented new laws related to pay transparency, with California and Washington following suit in the near future. This means that it is going to become more difficult to keep discussions about pay behind closed doors.
Some companies will be making their pay bands public, and a few have even started to post salary information for their employees online, where anyone can search for it. This can reduce the amount of time that companies and candidates waste during recruitment and increase transparency and equitability for employees.
When employee pay is discussed openly, it means that all of the differences in people’s salaries must be accounted for. A report from the software company Beqom found that 60% of a thousand surveyed adults would switch companies to one with greater pay transparency, underscoring the importance of increasing pay transparency as an employee retention tool.
Contact the Experienced Benefits Consultants
Ensure your business is prepared to engage your workforce and keep valued employees on board by scheduling a consultation with the experienced benefits consultants at Business Benefits Group (BBG) today.