The Global Talent Trends 2023 report by LinkedIn, released in January 2018, shed light on the most pressing matters that will impact employers and employees in 2023. Drawing from a diverse group of over 5,000 participants from across the globe, the professional networking site compiled the findings from its wide user base.
As the year 2018 draws to a close, it is worthwhile to retrospect on the LinkedIn report and evaluate the accuracy of their predictions. Did their projections on the future of the working environment come to fruition, or did they prove to be inaccurate? Were there any unanticipated events in the past year that brought significant changes to the workplace landscape?
In regards to your question about whether 2023 has been a year marked by fundamental changes, it can be said that although there have been some advancements, it hasn’t witnessed any revolutionary alterations. However, the entry of Generation Z into the workforce has resulted in a significant transformation. As they are expected to constitute more than half of the labor force in the upcoming year, their impact is already becoming apparent.
The Global Talent Trends report envisages four critical transformations that are projected to occur in the workplace by 2023. Consequently, it is imperative to analyze the precision of these projections and assess our agreement with them.
The Significance of Soft Skills
Presently, there has been a rapid surge in technological developments. Technology Review’s encouraging list of technological advancements compiled by Bill Gates includes laboratory-grown beef burgers, progress in Artificial Intelligence, and cancer vaccines. Moreover, the pace of technological advancements has considerably decreased the longevity of hard skills.
While hiring a programmer, it is crucial to ensure that they have the essential competencies and capacities, rather than just being adept in the programming language required. Since the codebase is likely to become outdated eventually, the optimal candidate must be capable of quick and efficient thinking to facilitate the transition.
Undoubtedly, the service sector is the most rapidly expanding industry presently, and therefore, it is essential to appoint remote teams with personnel who exhibit the requisite soft skills for accomplishing success. These skills encompass taking the initiative, proficient time management and devising innovative solutions to challenges, even while working independently. As our hiring practices have involved global recruitment this year, we have prioritized the demonstration of these soft skills in prospective candidates.
Adaptability in the Workplace
Anticipating an amplified desire for autonomy in the workplace among employees in 2023, is not surprising. The notion of work-life balance has evolved gradually, with the modern generation cherishing the ‘living to work’ mindset more than the post-WWII generation’s traditional ‘working to live’ attitude.
Having witnessed the global financial meltdown of 2007, Generation Z, akin to the Baby Boomer generation, is in pursuit of greater job security. Nonetheless, if someone were to propose to them that work should take precedence over family, they would probably rebuff with a single retort: “OK, Boomer.”
The tendency towards more adaptable working arrangements is gaining traction, as is increasingly evident. Microsoft’s recent implementation of a four-day working week received widespread attention and is a testimony to this trend. Presently, more than half of the employees of the world’s top 1000 businesses are not working from their offices, but instead, from their preferred settings, such as home, a local cafe, or other locations.
The phrase “Me Too” reverberated worldwide for almost a decade, gaining more significance until 2023 when it reached its zenith with numerous high-profile allegations and dismissals. This prompted global companies to reassess and reformulate their anti-harassment policies, to align with the evolving situation and mitigate any possible harmful impacts.
The prospect of preventing harassment and unsuitable conduct by working remotely is undoubtedly appealing, as it eradicates the possibility of physical interactions. However, it should be kept in mind that even in the absence of physical presence, perpetrators can still target their victims, as witnessed by numerous accounts of women receiving unsolicited, inappropriate imagery from acquaintances.
It is imperative that the protocols of your distributed team explicitly tackle problems pertaining to harassment and abuse. The subsequent process is to establish a work culture that does not condone such conduct, where team members are obligated to report any misconduct they notice and there are unequivocal and regular consequences for such actions.
Our aspiration is that by 2023, everyone will be cognizant of the necessity to eradicate harassment. However, until then, we acknowledge that organizations must take proactive measures to counter this predicament.
Transparency Regarding Remuneration
LinkedIn’s prediction that four countries would implement rules to enhance remuneration visibility by 2023 has come to fruition. United Kingdom, Germany, Australia, and Canada have now passed legislation mandating employers to be more transparent about salaries.
When the BBC upheld its pledge to promote remuneration transparency, several influential figures in the United Kingdom expressed their apprehension. The revelation that presenters sitting beside each other could be receiving vastly different salaries did not go unnoticed. It is unsurprising to observe that women and individuals of color commonly receive lesser pay than their male peers.
Many employers adopt the practice of paying remote workers commensurate wages aligned with their country’s norms, to ensure equitable compensation. This methodology enables employers to avail themselves of financial gains while still being able to recruit skilled personnel. However, some organizations have opted for an alternative method.
An instance of an extreme approach is a company that has upheld the policy of offering identical remuneration to all its workers for the last 10 years. The company recently released a blog post to emphasize the insights they have gained from this tactic. They attribute their significant growth and expansion to this strategy. In contrast, organizations such as Buffer adopt a uniform compensation structure for all their personnel.
At Buffer, we endeavor to maintain unambiguous pay calculations, accessible to all our staff. While employees have the option to remain anonymous, most choose to reveal their identities. We conscientiously appraise each individual’s proficiency level and the cost of living in their area while determining their pay, implying that employees in different regions may not be remunerated equally. Nevertheless, we guarantee that all employees receive fair compensation for their positions and can lead a financially comfortable life.
Managing remuneration for distributed staff is a steadily growing challenge for companies, regardless of their size. At Works, we understand the complexities involved and can support you in overcoming them. We can alleviate the burden of administrative work and recruitment, allowing you to concentrate on your core competencies. Our team will handle all the essential procedures and protocols related to employing remote staff, thus guaranteeing your peace of mind that everything is under control.
As the year and decade draw to a close, it is worth reflecting on the remarkable advancements that have transpired in the labor sector over the last decade. At Works, we have been closely monitoring the #futureofwork trend and have deduced that remote work will become even more significant in the coming decade. If you aspire to join the distributed workforce movement and employ skilled IT experts, please reach out to us without delay.