Will Employees Get To Choose What The Future of Work Looks Like?

There’s not a day there goes by where every single article indicates that the future of work has changed.

From stories of “The Great Resignation” to the phenomenon of “Quiet Quitting”, everything suggests that employees are more empowered than ever before to expect and ask for more starting with flexibility and job security and in some cases to do things differently.

The entire realm of work will be all along the lines of what, where, when and how. More than that with record-high inflation, and a looming recession, there will be changes in the way companies and candidates operate.

Let’s take a look at what might fuel these new work trends if employees were shaping the way work is done in 2023.

1. The Money Talk

With steadily rising price of goods from daily necessities to housing, a lot more candidates may be asking for a raise or may be hunting for a new job.

Companies and HR leaders are aware of this new mindset to become more strategic with their hiring practices where they’ll keep the star performers and lay off the low performers.

To ensure the best team in each company, there will be an aggressive fight to retain strong performers with higher bonuses, job titles and compensation.

2. Switching Jobs

With the New Year around the corner and the number of open positions, you will likely see people jumping in from one company to another to get a salary bump.

A lot more organisations also want to be talent magnets and are putting in efforts to ensure they become a high-performance and engaging organisation which means they are giving a lot of autonomy, reskilling programmes, bonuses and perks to individuals.

This also means giving their most valuable talent the job of creating the future of work they want to oversee.

3. The Fight for Talent

Companies who prioritise building a better future of work will likely do very well in both the workplace by creating value for their employees and creating an advantage for their organisations and stakeholders.

Business leaders recognise that the best and brightest quickly move on, so they need to ensure that they move fast and speed up the interview process to secure the best talent or they will be forced to pay up.

There will be a stronger need to potentially increase their base pay, improve the bonus level, and provide a higher position for them to join a company.

4. Hybrid Schedules Will Be In

The constant battle between in-office and remote work will intensify as prices of apartments and housing surge. A hybrid model, in which employees can work remotely at least 25% of the time, is preferred by 83% of 9,326 workers polled in one survey.

Even the top 10 Fortune 500 companies have tried to strike a middle ground. Positions that did not go remote during the pandemic will remain as per usual. Those who went remote during the lockdown are now being asked to adhere to a hybrid schedule, returning to the office at least 3 days per week.

Many companies will ultimately choose either in-office or remote to make things easier for managers. This will become a differentiator for businesses. Employees can decide which work model suits them best and choose a company based on their work options.

5. Company Values

Not only are company values important for hiring, but they are also crucial for retention. A lot more companies will be expecting candidates that match their values.

To appeal to candidates in today’s job market, companies can’t be afraid to make changes. Businesses must develop a concrete action plan and work with recruiters to improve their recruiting process.

The job market tends to see a rise in the supply of talented candidates and companies generally do like to have a head start as we go into the New Year.

The bottom line is, building a hiring strategy opens your talent pool tremendously and creates a more welcoming workplace. This would include company-wide goals, ensuring roles are catered to specific functions and seniority roles.

As we move towards 2023, how are you preparing to succeed in hiring today’s best talent? Get in touch with our team to incorporate the above hiring trends to improve your recruitment strategy.