A Meow Year has arrived. Being smart, speedy and flexibility like cats will help us not missing the best opportunities to shine and succeed. To kick off your Meow Year's success, let spend time to review seven outstanding HR trends in 2023 to come up with your most suitable and effective HR plans.
In 2023, the rapid recovery of Vietnam’s labor market is expected to continue, with proactive hiring and rehiring activities for white and blue-collar workers. At the same time, the number of multinational corporations looking to advance their businesses in Vietnam is on the rise and some industries recorded a higher growth rate than ever before.
While no one has a crystal ball to predict the future, there are definitely some HR trends on the horizon that we cannot ignore. Savvy HR leaders and professionals will approach this year 2023 with human-centric strategies that holistically support and benefit workers.
1. Bring It with Gamification
Gamification is one of the biggest HR trends of 2023. It’s the use of game-like elements in non-game contexts, such as using points, badges, and leaderboards to encourage employees to achieve their goals. Gamification can also be used to engage employees in learning new skills or knowledge. There are many ways to gamify your HR program, but one of the most important things to keep in mind is that you need to make sure the games you create are fun and challenging.
2. Become the Great Communicator
One of the biggest questions for HR and senior leaders is going to be what they do on staff pay in response. Raise salaries to keep people afloat or hold back because the possibility of a recession may erode profitability? For those companies who can't raise salaries to match inflation, benefits are going to become even more important.
Crucially though, employers may not need to introduce new benefits, just to communicate better about existing ones...
2023 may be the year that HR seeks to make benefits communications louder through a multichannel communications strategy that reaches every worker, no matter where they are.
3. Put Out the Fire to End Burnout
One of the biggest HR trends of 2023 will be the initiatives to counter or avoid employee burnout. Employee wellness will be emphasized more because it’s one of the factors that applicants prioritize when looking for a job. If you want to hire quality talent, you must attract them with quality compensation, which is why wellness programs that prioritize employee health, happiness, and contentment will be a big deal in the future.
4. Get Your People to Stay
With the economy slowly recovering from the pandemic, companies will be more worried about losing their top talent to competitors. Companies will increasingly recognize that it is more cost-effective to invest in retaining existing employees than to constantly recruit and train new ones.
HR professionals will need to find ways to keep employees engaged and motivated, whether through recognition programs, opportunities for growth and development, or simply by making the work environment more enjoyable.
5. Make It the Year of Flexibility
Another biggest HR trends of 2023 will be the continued rise of remote work. With more and more companies embracing flexible work arrangements, it's likely that even more employees will be working from home in the next few years. To prepare for this trend, HR teams should focus on creating policies and procedures that will make it easy for employees to work remotely.
6. Promote from Within
One potential HR trend in 2023 is the prioritization of internal mobility to boost employee morale and foster career development. Companies will invest in reskilling and upskilling their existing employees to prepare them for more extensive and technical roles. Doing so will allow these employees to progress in their chosen fields, which equates to team growth and professional satisfaction.
7. Rely More on Advanced HR Tech
Algorithmic HR is already gaining ground in the gig economy. Experts are anticipating that by 2023, the majority of HR departments across the industry will start relying on it as well for HR management. The prediction is there will be vast incorporation of AI for HR functions such as hiring and firing candidates, growing the candidate pool, and facilitating employee engagement in the workplace.
To start with, your HR teams could slowly integrate AI and machine learning into your recruitment process. You can conduct A/B testing to find the best AI tools that work best for you.
While AI can't replace the human touch in HR, it can certainly help HR professionals be more efficient and effective in their roles.
If you want to discuss further on the above trends or need any supports for HR matters, please feel free contact us, Faro Vietnam.
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