UKG reveals the ‘megatrends’ of 2023

HR, management and payroll solutions provider UKG has revealed its pick for the ‘megatrends’ we can expect in 2023.

The top issue predicted for 2023 is chronic anxiety. According to UKG, of the 10 countries surveyed, 40 per cent of young people are unsure whether to have children due to worries for the future of the world. Safety and security were key concerns for respondents.

A Deloitte study referenced by UKG revealed that 81 per cent of leaders and 68 per cent of employees are more focused on improving their wellbeing than their career.

UKG says the “emerging human energy crisis” is having impacts on productivity, retention, and overall workplace culture.

UKG’s vice president of human insights and human capital management advisory, Dr Jarik Conrad commented: “This human energy crisis will require more than virtual happy hours and free yoga classes.

“Many workers today realise that there are more important things in life than work, and leaders must recognise an employee’s continuum of needs and meet them where they are in thoughtful and meaningful ways. Employers have an opportunity to meet the expectations of the modern workforce with personal and technological improvements,” explained Dr Conrad.

Organisations can tackle the human energy crisis through the following, (top three as listed by UKG):

• Providing basic employee needs such as a liveable wage, affordable healthcare, and retirement and pensions support.
• Addressing burnout with flexible work schedules, urging to take paid time-off, and focusing on work that really matters to the business to create reasonable workloads and deadlines.
• Recognising and celebrating employee success and empowering them with decision-making autonomy.

UKG notes that agility is key for 2023.

According to a statement from UKG, successful businesses put people first, and organisations should be applying ‘plasticity’ to practice. Plasticity is a blend of adaptability and flexibility. Through this approach, UKG says businesses will be better equipped in adapting to change and unpredictable events. This strategy may help companies get through turbulent times, as highlighted by the pandemic and talent shortage issues.

“Organisations have an incredible opportunity in 2023 to learn from world events and continue the positive momentum of both basic and sophisticated employee offerings to improve work for all people, regardless of level or job type,” said Dr Conrad.

“In the year ahead, leaders and HR teams alike must care for their people to navigate the human energy crisis, create and maintain organisational plasticity to thrive during ever-present change, and advance efforts toward a more diverse and equitable world of work for all.”

Jack Campbell

Jack is the editor at HR Leader.