Signs of inflation and higher costs are generating greater financial
stress for businesses, employees, and their families. These stressors
have led some organizations to enact hiring slowdowns, hiring freezes,
and even workforce reductions. For employees, including those in HR,
financial stress can lead to decreased job performance, burnout, quiet
quitting, and even actively seeking new employment. In fact, according
to the recent HRE survey ‘What’s Keeping HR Up at Night?’,
more than 76% of HR professionals said their stress levels had
increased dramatically or somewhat in the last year.
With such great challenges and potential dips in employee
morale, 2023 will be asking us to be mindful of the humanity of our
co-workers. It is calling us to put greater focus on the full employee
experience, from recruitment to retirement. Employees who feel
listened to, respected, and fulfilled tend to be more loyal, engaged,
and productive. So, while you are working to attract and recruit the
right new talent, you will also want to be listening to your current
employees to help cultivate the right blend of culture and
compensation to better retain them.
Great challenges can sometimes bring great opportunities for
us to learn, re-evaluate, and improve. Download this Perspective
to learn why some of the people-first HR trends are hot right now
and why renewed focus on the employee experience could help your
company develop more organizational efficiencies, improve employee
engagement, and better attract and retain talent.
The information provided is intended as general
guidance and is not intended to convey any tax, benefits, or
legal advice. For information pertaining to you or to your
company and its specific facts and needs, please consult
your own tax advisor or legal counsel. Links to sources may
be to third party sites. We have no control over and assume
no responsibility for the content, privacy policies or
practices of any third party sites or services.