5 HR Trends Ruling in 2023

Human resources is a constantly evolving field, and keeping up with the latest trends is crucial for businesses to attract and retain top talent. 

In Nepal, until 2000, the Human Resources Department itself did not exist as a separate entity. Nevertheless, companies and other organizations in Nepal have gradually adopted the latest HR techniques in recent years.

Nepalese institutions emphasize the recruitment, development, motivation and retention aspects of human capital. Some top institutions like Sipradi Trading, NIC Asia Bank, Nabil Bank, Vishal Group, Shanker Group, Chaudhary Group, MV Dugar Group, KL Dugar Group, Unilever Nepal Limited, Nepal SBI Bank, Surya Nepal, Dabur Nepal, Ncell, etc. are effectively practicing HR techniques to improve productivity.

New technologies around the world are helping institutions to address a variety of human capital management challenges related to employee engagement, competitive wages, talent retention, and succession planning. Nepalese organizations are also starting to use modern technology to better evaluate their workforce and conduct cost-benefit analyses.

The use of HR software has become one of the most important trends in large enterprises. For example, Real HR Software developed by Merojob is one of the HRIS software currently used by 10 big companies and some INGOs in Nepal. 

Except this, Five general HR trends are predicted to shape the field of human capital in 2023 are:

INCREASED FOCUS ON EMPLOYEE WELLNESS

With the ongoing COVID-19 pandemic, employee wellness has become a top priority for many companies. In 2023, we can expect to see a continued emphasis on promoting physical and mental health in the workplace, including offering remote work options, flexible scheduling, and access to mental health resources.

Companies are including employee well-being as a part of their onboarding strategy. On-site wellness programs, employee assistance programs, yoga classes are some of the many examples of how companies are improving their employee experience.

Check out “Why employee wellbeing should be at the heart of any onboarding strategy” to take your onboarding strategy to an employee-centric approach.

REMOTE WORKING BECOMING THE NORM

Remote work has been on the rise for several years, but the COVID-19 pandemic accelerated its adoption.

Though remote work was a short-lived trend during the pandemic, employees have seen prioritizing hybrid work over full-time office bound work.

As a result, companies are recognizing the benefits of remote work and are likely to continue offering it as an option for their employees in 2023. Many companies, especially IT field companies have developed their own hybrid work policies as well.

As we move into 2023, office design trends will likely encompass sustainability, connected devices, and provisions for neurodiverse workers, such as quiet zones and sensory variety.

EMPHASIS ON INCLUSION AND DIVERSITY

Companies are recognizing the benefits of having a diverse workforce and are making a concerted effort to build inclusive environments.

In 2023, we can expect to see more companies implementing programs and initiatives to promote diversity and inclusion in their hiring practices, employee development, and overall workplace culture.

Relationships with managers and other colleagues have become a major factor in employee retention and turnover.

Employees seek interpersonal relationships with their fellow comrades so inclusivity and diversity will definitely help employees find their office mates and continue with the organization even when some other factors may make them leave the company.

USE OF ARTIFICIAL INTELLIGENCE IN HR

The use of artificial intelligence (AI) in HR is becoming increasingly common, and in 2023, we can expect to see even more widespread adoption of this technology.

AI can be used to automate time-consuming HR tasks, such as resume screening and interview scheduling, and to analyse large amounts of data to identify patterns and make more informed decisions.

Though Nepal is still lagging behind in terms of strategic HR policies and tools, in recent times companies are investing in technologies to ease their human management activities.

For Instance: Fusemachines, an AI Based Talent Solutions Provider based in Nepal is democratizing AI by embodying the idea that “talent is everywhere but opportunities are not.”

They launched an AI-Enabled Learning Platform focused on Employee Learning and Development named Fuse Upskill which primarily is a Learning Management System to make employee learning and development scalable and provide AI-enabled insights to help them upskill and reskill better.

GREATER EMPHASIS ON EMPLOYEE LEARNING & DEVELOPMENT

29% of recruiters think the skills gap has increased in 2022. For a single year, that’s pretty significant. 

Companies are recognizing the importance of investing in their employee’s professional development. In 2023, we can expect to see more companies offering training and development programs to help employees acquire new skills and advance their careers.

Companies had to focus on solving emotional issues like empathy, intentionality, collaboration, inclusive decision-making, and deeper connections as Gen Z workers entered the workforce in greater numbers.

According to the World Economic Forum, at least a billion people will need to be reskilled over the next decade to deal with technological transformation.

Governments around the world are starting to fund reskilling and upskilling programs. 

Skills boot camps and training courses are ways they’re helping employees prepare for the future. 

The job market is constantly changing, and companies are realizing the importance of investing in employee skills development to stay competitive. They are now offering more opportunities for employees to learn and grow, such as on-the-job training, mentoring, and online courses.

And LinkedIn research found that the top five most in-demand soft skills are creativity, persuasion, collaboration, adaptability, and emotional intelligence.

In conclusion, the year 2023 is expected to see companies take a more proactive approach to employee wellness, continue to embrace remote work, prioritize diversity, inclusion and use AI in Human Resources, and invest more in Employee development.

These trends are not only good for employees but also good for the companies as they will help to create a more productive and engaged workforce.

LEARN INFINITY ENABLES FUTURE WORKPLACE LEARNING AND DEVELOPMENT

It’s clear from current trends that the future workplace is ever-changing and evolving and employees need to constantly reskill and upskill.

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