As the economy softens, the post-pandemic surge in high perks for employees has subsided for now. But despite uncertainty, elevating the employee experience remains central to talent strategies. In fact, employers are focusing more than ever on the entire talent life cycle, according to the Randstad Enterprise 2023 Talent Trends research, which surveyed more than 900 C-suite and HR leaders around the globe.
To attract and keep the best talent, human capital leaders are striving to elevate engagement, retention and productivity by making work more meaningful, increasing learning opportunities and softening the blow of layoffs.
For instance, as recent mass layoffs have made headlines for their lack of compassion, employee well-being is top of mind. Nearly half of those surveyed (49%) are increasing budgets for career transition and outplacement services, while a majority (53%) already spend moderate to significant levels to support outplacement services.
And as digital transformation accelerates, employee growth and professional development are also chief concerns, especially as skills gaps and talent shortages reach crisis levels. Seventy-six percent (76%) are increasing their focus on employee skill development, 57% are investing more in career coaching technology, and 63% are investing in training and development, according to the report. Overall, 54% of C-suite and human capital leaders are spending more on well-being and safety concerns.
Learn more about improving the employee experience to increase retention and engagement in Forbes, then get your copy of the Randstad Enterprise 2023 Talent Trends Report.
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