Over the last few years, businesses of every size have experienced some drastic changes in the workplace. The Great Resignation, hybrid work environments, and shift shock have all played a major role in how human resources professionals operate in the workforce.
The emergence of these movements doesn’t just affect HR departments, they’ve affected all departments, employees, and cultures across the board.
Similarly to years past, 2023 will come with its own trends and shifts. Here are a few that you might want to keep an eye on.
The term quiet quitting refers to an employee who does the bare minimum at work but doesn’t actually quit. This behavior has become more prevalent in the past couple of years and appears to be lingering into 2023.
While there is a myriad of reasons why someone may deviate to a quiet quitting mindset, the most prominent reason is employee burnout.
Although burnout isn’t classified as a medical condition, the World Health Organization (WHO) does recognize it as an occupational phenomenon. Identifying when someone is burnt out is a challenge of its own…and determining what causes burnout is an entirely separate challenge. Everyone has unique triggers that lead them down this path.
You may also want to review your PTO policies to be certain your employees have adequate time to refresh and recharge outside of the work environment. Once this is taken care of, make sure your employees are using their PTO hours. Everyone can use a break!
Basic Benefits Aren’t Enough Anymore
Everyone loves pay raises and appreciates the benefits companies offer. Despite this, the typical medical, retirement, and life insurance benefits aren’t cutting it with today’s workforce.
Employees want more.
In fact, a recent study showed that 49 percent of employees will look for a new job within 12 months of their start date if they are dissatisfied with their benefits. With that number being so alarmingly high, it has never been more important to know what benefits employees want to see included in their employment package.
Over the last couple of years, there has been a growing emphasis on mental health and an individual’s ability to get appropriate care. Telehealth is becoming more common in the current day benefits that many employers are offering. By doing so, employees gain on-demand access to a variety of virtual therapies for both physical and mental care. This includes health coaching, disease management, behavioral health assessments, and telemedicine.
Student loan debt assistance is another benefit that is trending going into 2023. Studies show 86% of employees stated that they would commit to a company for 5 years if the employer helped pay back their education-related loans.
Pay Transparency is On Everyone’s Mind
Pay transparency is a concept that is accelerating into the new year. According to Harvard Business Review, a fifth of all U.S. workers will be covered under pay transparency laws in 2023. Employees are simply demanding better clarity and communication about their compensation.
New York City is the most recent to adopt pay transparency laws, with the states of California and Washington to follow on January 1, 2023.
Pay transparency laws are dependent on the city and state levels. For example, in California, employers will be required to file annual pay data reports each year focused on the rates of pay by race, ethnicity, and sex. You can get more state-specific HR legal information on VensureHR’s Legal Updates page.
Prepare for 2023
The trends that we see continue to rise and can benefit both employees and employers. For this reason, it’s necessary to consider these topics when creating your business plans for the next 12 months. Not to mention, they’ll have great significance on your recruiting and retention efforts if you are striving to become an employer of choice.