A recent poll by WTW found almost all of those asked (95 per cent) are concerned about retaining talent in 2023, but more than half (55 per cent) said the biggest HR challenge will be managing employee expectations. As the Great Resignation continues, more than a quarter of those asked said the best approach to tackling the current labour shortage crisis is to focus on improving company culture (28 per cent) and upskill existing staff (29 per cent). But overall, there is no clear approach on how to remedy this issue.
Work and Rewards expert, Alastair Wood says “Between the cost-of-living crisis, an economic downturn and the Great Resignation, 2023 poses some challenges for HR. While companies need to be attractive to candidates and existing employees, this needs to be weighed up against delivering realistic actions. Companies need to decide the priorities early on.”
Organisations are planning to continue their focus across a range of topics, such as inclusion and diversity, pay equity, training and development and performance management. Employee experience expert, Gaby Joyner says: “It’s great that companies will be focusing on upskilling existing staff in 2023 but company culture is also a key aspect to attracting and retaining talent.
“Find out what people want on the ground. Employee surveys and focus groups can help decipher what’s most important to your workforce, so you can prioritise where change needs to happen.”
WTW’s Focus on 2023 event poll was conducted in November 2022. Respondents include 100 event attendees, representing a broad range of industries in the UK.
