In January 2018, LinkedIn revealed the results of its Global Talent Trends 2023 research. In order to identify the most important issues facing employers and employees in 2023, the professional social media platform surveyed its expansive user base and conducted interviews with over 5,000 people from all around the world.
As we approach the end of 2018, we felt it would be a worthwhile exercise to reflect on the LinkedIn report and assess how accurate their predictions were. Did they accurately predict the future of the working landscape, or were their forecasts wide of the mark? Have any unforeseen events occurred in the past year that have significantly altered the workplace environment?
In response to your query regarding whether 2023 has been a year of significant change, it can be said that, while there have been some developments, the year has not seen any groundbreaking changes. Nevertheless, there has been a noteworthy shift with the entrance of Generation Z into the workforce. It is expected that in the coming year, this group will make up more than half of the labor force and their presence is already beginning to be felt.
In accordance with the Global Talent Trends study, it is predicted that four key changes will take place in the workplace by 2023. In light of this, it is now necessary to assess the accuracy of these predictions and to evaluate whether or not we concur with them.
Soft Skills and Their Importance
At present, technological advances are taking place at a faster rate than ever before. Bill Gates compiled a highly encouraging list of technological developments for Technology Review, comprising of laboratory-grown beef burgers, progress in Artificial Intelligence, and cancer vaccines. The time it takes for hard skills to become obsolete is decreasing precipitously due to the swift pace of technological advancement.
When hiring a programmer, it is imperative to be confident that they possess the necessary skills and abilities, rather than simply being proficient in the required programming language. As the codebase is likely to become obsolete over time, the ideal employee would be one who is able to think quickly and efficiently in order to help with the transition.
It is clear that the service sector is currently the fastest-growing industry, and as such, it is important to staff distributed teams with individuals who possess the soft skills necessary to succeed. These include being able to take initiative, managing their time efficiently and finding innovative solutions to problems, even when working alone. As we have been recruiting for positions around the world this year, we have been placing emphasis on the importance of demonstrating these soft skills in potential candidates.
It was hardly a surprise to predict that in 2023, employees would be in pursuit of increased autonomy in the workplace. The concept of work-life balance has shifted over time, with many of today’s generation valuing ‘living to work’ rather than the old-fashioned ‘working to live’ mentality that was more prevalent amongst the post-WWII generation.
Generation Z, like the Baby Boomer generation, is seeking greater job security due to having experienced the global economic crisis of 2007. However, if someone were to suggest to them that work should take priority over family, they would likely respond with a single retort: “OK, Boomer.
As is becoming increasingly evident, the trend towards more flexible working arrangements is gaining momentum. This is evidenced by the attention garnered by Microsoft when they recently introduced a four day working week. Nowadays, it is estimated that more than half of the employees of the world’s top 1000 businesses are not working from their desks, but rather from home, a local cafe, or other locations of their choice.
For almost ten years, the phrase “Me Too” resonated around the world, becoming increasingly prominent until 2023 when it reached its peak with a number of high-profile allegations and terminations. This caused alarm amongst companies globally, prompting them to review and revise their anti-harassment policies in order to keep up with the changing landscape.
The prospect of avoiding harassment and inappropriate behavior by working remotely is certainly attractive, as it eliminates the risk of physical contact. It is also worth noting that even in the absence of physical presence, abusers can still reach their victims, as evidenced by the countless stories of women who have received unsolicited, inappropriate images from acquaintances.
It is essential that your remote team’s procedures expressly address issues of harassment and abuse. The next step is to create an environment where such behavior is not tolerated, where team members are expected to challenge each other if they notice misconduct, and where there are clear and consistent disciplinary measures in place.
It is our hope that by 2023, everyone will have become aware of the need to put an end to harassment, however, in the meantime, we recognize that it is essential for businesses to take active steps to address this issue.
Openness About Compensation
LinkedIn’s prediction that four countries would introduce pay transparency rules by 2023 has now come to fruition. Legislation has now been passed in the United Kingdom, Germany, Australia and Canada, which will require employers to be more open about salaries.
When the BBC commenced its commitment to pay transparency, there were some prominent voices in the United Kingdom that voiced their concern. It was revealed that even presenters sitting side-by-side could have markedly different wages. It comes as no surprise to discover that women and people of color usually receive lower pay than their male counterparts.
It is commonplace for employers to ensure fair remuneration for remote workers by paying them a rate that is in line with their nation’s standards. This approach allows employers to benefit financially while still being able to attract skilled employees. Nevertheless, some organizations have chosen to take a different approach.
For an extreme example, operating a policy of providing the same compensation for all their employees for the past 10 years. Recently, they published a blog post to highlight the lessons they have learnt from this strategy. The company credits this strategy as the key factor in their significant growth and expansion. On the other hand, there are organizations such as Buffer that use a uniform pay scale for all their staff.
At Buffer, we strive to ensure that our salary calculations are transparent and available to all employees. Each employee has the choice to remain anonymous, although most choose not to do so. We carefully consider each individual’s level of experience and local cost of living when calculating their salary, meaning that employees in different regions may not necessarily be paid the same amount. However, we ensure that everyone is adequately compensated for their role, and can expect to be comfortable in their financial situation.
Payment management for remote workers is an increasingly common problem for companies of all sizes. Here at Works, we understand the difficulties associated with this, and we can help you to overcome them. We can take away the hassle of paperwork and recruitment, allowing you to focus on what you do best. Our team will handle all of the necessary procedures and processes associated with hiring remote employees, so that you can rest assured that everything is taken care of.
As we come to the end of both the year and the decade, it is interesting to reflect on the impressive changes that have taken place in the working world over the past ten years. At Works, we have been carefully observing the #futureofwork hashtag, and it has led us to the conclusion that remote working is likely to become even more important in the decade ahead. Therefore, if you are eager to join the remote revolution and hire experienced IT professionals, please do not hesitate to contact us at your earliest convenience.