UNLEASH’s Top Five of 2023: Talent & Employee Experience
UNLEASH reviews its top five articles from 2023 across different arenas of the HR world. In this feature, we’re looking at which strategies HR leaders adopted in talent and employee experience.
2023 in Focus
HR leaders were focused on using tech to augment talent acquisition and how values are the foundation of positive experience throughout the year.
Here are the top five most-read talent and EX stories of the year on UNLEASH.
It’s become almost a cliché to say how much things have changed either as a result of or since the COVID-19 pandemic. But all clichés are rooted in truth; things have indelibly changed and for employers, HR often formed the reactive vanguard.
The financial cost of the pandemic to markets such as hospitality and tourism measured in the high billions, if not trillions, while the world’s aviation sector counted its own cost to the tune of $168 billion in 2020 alone.
But the precise cost and impact on talent and employee experience is much harder to quantify.
1. Emirates: HR tech enabled a post-pandemic bounce back
UNLEASH spoke to Manal Al Soori, vice-president HR, Emiratization and people experience, to find out exactly how the Group experienced and rallied from the pandemic.
As our headline states, technology played a key role in helping secure new talent after the Group reduced its overall headcount by over 30%. The use of HireVue’s recruitment platform allowed Emirates to manage a deluge of applications when hiring restarted, as well as refocus on improving employee wellbeing in a post-pandemic landscape.
Securing the right talent was a prominent topic of concern at the start of the year for many chief executives and HR leaders, with consultancy EY’s Outlook Report with as many as one in three bosses expecting the “scarcity and cost of talent with the right skills as a major risk to their business.”
2. EY: Talent shortages top CEOs’ 2023 agenda
At the time, business leaders were focused on wellbeing and skills as a priority – a positive sign that employee experience is recognized to be more than just remuneration – but EY’s Trent Henry told UNLEASH that in addition to external recruitment, organizations should be looking at more “retention and recruitment from within.”
Of course, the tight US labor market is predicted to continue into 2024 and issues such as talent retention, skills gaps and the overall future of work will remain high on the agenda for HR leaders as well over the coming 12 months.
While the report uncovered that there would be redundancies throughout the year – a prediction that unsurprisingly came true among many markets – over half of chief executives viewed this is an opportunity for their own businesses.
Indeed, the US tech market was one of the worst offenders in 2023; according to Layoffs.fyi, over quarter of a million technology employees were let go from companies such as Google, Microsoft, Ericssen, Meta and SalesForce, among others.
3. Why Big Tech layoffs are a ‘once-in-a-generation’ talent opportunity
UNLEASH took a closer look at the situation when it comes to tech talent and found that a sudden influx into the market could put the power dynamic back into the hands of employers, as demand for specific skills in this space continues to grow.
Smaller firms and startups may also find that access to specialists becomes easier as a result of layoffs at larger organizations, although talent may hold a stronger hand in this hiring dynamic, while some experts believe this could also lead to a “redistribution” of tech talent in growing areas of the technology ecosystem, such as climate technology and so-called ‘cleantech’ firms.
Of course, talent acquisition is only part of the puzzle for HR leaders. Retention and employee experience is an ongoing challenge, and that is only set to present more of a test as more ‘Gen Z’ employees enter the workforce.
While every generation has its own view of the workplace and how it should cater to their needs and wants, research has shown Gen Z have the most demanding outlook which HR leaders will need to adapt to – especially considering that those born in the mid-to-late 1990’s will outnumber ‘Baby Boomers’ in the US workplace for the first time in 2024.
4. Gen Z is the unhappiest generation at work
Those in the Gen Z age bracket, along with millennial counterparts, are believed to most value being proud of the work they do and how that relates to their overall happiness, as well as being the most likely to demand good work/life balance from their employers.
While there are many negative perceptions associated with Gen Z workers, they are also the hungriest for learning and development opportunities, as well as a sign of purpose from their work and rewards that go far beyond salary. HR leaders that are able to adapt their employee experience to these changes are likely to reap the benefits of the next generation of employees.
One way this could be achieved is to embed positive company values and principles into everyday behaviors, rather than embed a dogmatic approach to company policy.
Coca Cola is taking just this road, as explained to UNLEASH by VP of talent Tapaswee Chandele.
5. Coca-Cola on leading with principle, not policy
The world’s most recognizable soft drinks manufacturer has adopted a ‘Thrive’ strategy built on the three pillars of flexibility, transparency and choice.
In practice, this means employees are given freedom to work remotely, the right technology to succeed in their role and by empowering line managers with the necessary tools and skills.
While the company does use Qualtrics employee experience technology to monitor engagement and enable performance, Chandele explains that ultimately what’s most important is listening to employees and acting on their feedback to avoid making the mistakes of the past.
No doubt, this is something Gen Z employees will be particularly attentive to when selecting the type of company they want to be part of going forward.
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Senior Journalist
John Brazier is an experienced and award-winning B2B journalist and editor. Prior to joining UNLEASH, John both led and wrote for a number of global and domestic financial services publications, covering markets such as asset management, trading, insurance, fintech and personal finance.
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