From the Experts
Story by Dr. Manal Fakhoury
Keep Your Workers
Leadership Teams Evaluate Company Culture
Leadership Teams Evaluate Company Culture
As we look at the world and how it has changed just since early 2019, the ripple effect is currently being felt by America’s leadership teams.
Let’s take a look at the three things leadership teams are evaluating currently and heading into 2023.
Talent Shortage
Talent Shortage
A consensus is forming that the current talent shortage may be a long-term or permanent fea-ture of the economy. This perception is a driving force behind how HR leaders are prioritizing and allocating their resources in the next 12 months. Consider what this will mean for the cur-rent teams and how technology will be utilized to further advance alternate possibilities of get-ting stuff done.
The labor market today is the most competitive in decades. Ninety-one percent of businesses plan to hire in the next 12 months. That is a lot. With quiet quitting, quiet firing, and lateral leadership on the rise, my guess is there will be some nice incentives for referring people to companies that are hiring.
Employee Retention
Employee Retention
Employee retention will be the #1 priority of 2023. Company culture is the #1 driver of retention (with salary and benefits coming in a very close second). If you have a good team, right now is the time to keep them for sure. Check in with your team and ensure they are appreciated, valued, and happy with the culture.
Wages will continue to rise, especially for blue-collar jobs. But the most successful organizations will find non-monetary ways to attract and retain talent. Recently, I watched a marketing video about all of the types of things companies can do to add to their benefits package. Benefits are anything that helps you retain that employee.
The relationship between organizations and workers is changing in fundamental ways. Employees at all levels are expecting more from their employers than they did in the past. This means today’s leaders must step up their game so that they can retain their team.
Company Culture
Company Culture
The pandemic exposed the strengths and weaknesses of company cultures. Organizations that came through the pandemic stronger than ever had company cultures that prioritize trust, communication, manager training, and a sensitive approach to balancing political polarization in the workplace. There were some benefits to the global pandemic, though we must all admit there were some very hard moments as well.
Since we don’t know what the future holds, doing our very best to keep, retain, and grow our internal staff is top-of-mind to every leader out there. Make sure you are looking at your company, organization, and team to evaluate if you are ready for next year.
