The last few years have seen seismic shifts in employee behaviour due to various social, political and economic influences. For organisations worldwide, it’s meant an increased number of resignations as employees seek new opportunities for growth and development.
This shift in the labour market has left employers struggling to keep their best talent. The stakes for employers are now raised in terms of effective recruitment and retention strategies, as they must work harder than ever to keep their top talent from leaving.
To help you navigate this challenging time, we’re going to discuss strategies you can implement to retain your employees that will also provide more team value. We’ll also highlight some key employee behaviour predictions of 2023 so you can remain a top employer.
The Great Resignation vs The Great Reshuffle
What was first known as the ‘Great Resignation’ has now developed into the ‘Great Reshuffle of 2022’. Employees that resigned from their current roles during the Great Resignation did not leave the workforce entirely. Instead, they found new job opportunities that provided them with more freedom, fulfilment and pay.
For many, that meant working for themselves. In the US, the number of self-employed workers increased by 500,000 since the pandemic.
But what does this mean for your organisation? You may already have noticed an increase in resignations as employees look for new challenges that offer more value or better pay.
The key question is — how can employers navigate this change? And is there anything they can do to mitigate the impact of these employee shifts?
Predicting Employee Behaviour in 2023
The world of work is ever-evolving and to build a successful team, you must stay ahead of the curve. In 2023, we can expect more changes in how employees behave and interact with one another.
Remote Work is Here to Stay
Remote work will continue as more companies shift their operations to be fully online. In the UK, remote job postings have increased 329% from 2020 to 2022 and 54% of adults say they want to continue working remotely since the pandemic.
Employee attitudes must change from being comfortable with digital collaboration tools to being open to asynchronous communication when working with colleagues from different time zones.
Employers must also support their teams to ensure that remote work is a success. For example, providing reimbursements for internet costs or equipment.
Investments in L&D
Providing employees with support for their professional growth is essential for attracting and retaining talent. Employees who feel supported are more likely to stay at their current job longer, be more productive and contribute more to the organisation's success.
According to a recent study, 76% of employees are more likely to stay with an organisation that offers continuous training.
Seeking Environmentally-Sustainable Employers
While the competition for talented individuals has always been fierce, the global trend towards increased environmental consciousness has changed the game.
In recent years, more and more employees have been actively seeking organisations committed to reducing their environmental impact. A survey by IBM concluded that 67% of employees are more likely to apply to a company that values sustainability and is committed to making meaningful changes in this area.
Both personal values and career prospects drive the desire to work for an environmentally conscious organisation. People who care about protecting the environment expect businesses to take steps towards becoming greener and they’re more likely to apply if they know they’ll be part of a team who shares these ideals.
Having a strong sustainability agenda can strengthen your appeal as an employer and attract more applicants with advanced skill sets.
How to Safeguard Retention and Provide More Team Value
One way to ensure you stay ahead of the curve is to invest in talent management strategies that provide more value to your team members.
- Specialist training and career progression opportunities
- Offering flexible working options
- Creating a stimulating workplace culture that encourages innovation
- Providing financial rewards for top performers
Providing job security is essential for retaining valuable employees and keeping them motivated. Ensure you understand their career goals and help them reach new milestones to remain a valuable asset to your team.
These measures should help bolster morale within the organisation and reduce any temptation for employees to jump ship.
The Value of Training for Both You and Your Employees
Value to Employees
The impact of effective training initiatives can be far-reaching for employees. It can help your business stay ahead of the competition by providing employees with the knowledge and skills they need to excel in their current roles. It also helps them stay up-to-date on industry trends and best practices to improve their performance continuously.
Value to Employers
Training gives managers the tools they need to better manage their teams, including time management, conflict resolution and performance management skills.
This makes them more effective daily, allowing them to complete tasks more efficiently. It can also provide managers with the guidance they need to understand HR regulations and compliance requirements, protecting employers from costly implications related to improper management techniques.
Training also has a positive impact on employee morale and engagement. When employers have access to tools and best practices, they feel more confident in their roles, leading to greater job satisfaction among employees.
Download our Benefits of L&D Report
At this critical juncture in history, it’s essential that organisations invest in training for their employees so they can take on future challenges
To learn more about how L&D can help benefit your organisation, download our in-depth report on the benefits of upskilling across the workforce and how consistent training can ensure improved productivity for your company.