Over the past few years, work-life balance has been a topic of debate as employees start to prioritise their personal life and operate with hybrid schedules. The way we work has changed dramatically due to the pandemic, ongoing skills shortages and more widespread acceptance of remote and flexible working styles. In 2023, we can expect further changes in work trends focused largely on the employee and their flexibility. Some of the key themes are:
Remote working - The opportunity to work from home is highly sought after by many candidates with remote capable jobs. Studies have shown that the ability to work remotely improves worker engagement, reduces employee turnover and increases productivity. This year will see remote or hybrid working become the norm rather than a benefit. It will become harder for employers who do not offer this, to attract talent. In addition to “working from home”, “working from anywhere” is becoming more commonplace.
Flexibility - Flexibility (or lack of) is one of the main reasons employees give for either staying at or leaving a job. This doesn’t just relate to having the ability to work from home, it’s about generally having control over your work schedule. This includes office hours that allow for school drop off and pick-ups; it may be working a four-day week; it could be flexible start and finish times to accommodate other commitments.
Sustainable work - Many companies are proactively designing work that builds in ‘rest’, to prevent burnout in their employees, rather than simply responding to it after the fact. Some of these initiatives include meeting-free days, early finish Fridays, four-day work weeks, increased holiday time and others.
Financial wellbeing - With inflation at a historical high and the rising costs of just about everything, workers are looking for employers who offer better financial incentives. This doesn’t necessarily mean higher pay, rather benefits such as company paid insurances, child-care subsidies, gym memberships, tuition assistance etc….
Job security - Whilst the labour market has been strong in recent times, applicants will likely become more cautious as economic conditions shift. Startups and tech companies who are yet to turn a profit are particularly vulnerable as more austerity sets in. Companies with track records of stability, even in challenging economic conditions, will be in a strong position to attract talent as candidates will be looking for strength of leadership and financial resiliency.
