Today’s fast-paced and highly-competitive economy is driven by talent, and organisations that can identify and cultivate it are more likely to succeed and grow.
“To put it succinctly we are in an F1 race, and the need of the hour is speed - in ensuring that employees have the right assets and environment to do what they are best at every day,” says Rajita Singh, chief people officer, Kyndryl India.
In an exclusive interaction with People Matters, Singh lists some of the top trends in investment in talent that will be prevalent in 2023.
Working through the skill eclipse experience
With the rapid pace of technological change driving an increasing demand for specialised skills, organisations will continue to invest in training and development programmes to help the workforce acquire new skills and stay relevant in their fields.
Upskilling and reskilling programmes that instill transferable skills will be a key focus. Such skills can be transferred to other jobs where workers will need to acquire only 20%-30% more expertise to be extra efficient.
Prioritising diversity, equity, and inclusion
The year 2023 will see organisations re-writing the definition and meaning of diversity, equity, and inclusion (DEI). Companies will need to build DEI-specific engagement programmes that can strengthen their cultural foundations and provide flexibility for the new workplace norms.
The COVID-19 pandemic has highlighted the benefits of remote work, and many organisations will continue to offer flexible work arrangements even after the pandemic subsides.
The need to be progressive, trusting, and empathetic is a ground reality now and retaining flexible policies are an important stage in the adaptation towards changing ways of work.
Investing in lifestyle
In an increasingly competitive and fast-paced world, organisations will increasingly prioritise the well-being and mental health of their employees through multiple benefits such as health and wellness programmes, work-life balance initiatives, and stress management resources.
With the blurring of work schedules and flexibility, lifestyle has become the new workstyle.
With the mindset shift towards life, employees are increasingly looking at ethical business practices and their role in ensuring the sustainability of the ecosystem.
The more an organisation shares its purpose, how it is improving the quality of life and making a difference to the eco-system at large, the more credibility it accrues. This will help in attracting the best talent which will automatically improve business profits.
Singh notes that the investment that organisations need to make in 2023 is mainly in culture and leadership.
“Organisations need to create an environment that will aid the growth of its employees, by walking the talk and leading by example. It’s not jargons that will be trending in 2023, but the actions that will show true progress,” she adds.