People Outlook for Q2 2023

“The “future” of work is actually the “now” of work; a people-first, tech-second environment”

As we move towards Q2 2023, it is a good time for business & people leaders to hit pause and reflect on the landscape in which we are operating. The “future” of work is actually the “now” of work; a “people-first, tech-second environment” (Forbes). Fast technological advances, the pandemic, and unprecedented social change have rushed the future forward. Rapid change and continued uncertainty - as evidenced by 332 tech companies laying off 100,746 employees since the start of the year - creates a sense of uncertainty and anxiety across workforces which means that leaders need to keep their finger on the people pulse more than ever.

As we enter the third year since COVID-19 came into existence, the virus has proven to have a lasting impact on the future of work. The research post pandemic is clear that connection to purpose, a sense of impact and creating a culture belonging to a team where my skills are valued, are critical to retaining talent, avoiding burnout and delving on ambitious performance results. According to Gallup, belonging is a matter of creating genuine appreciation for everyone’s differences and contributions. Employee belonging has moved front and centre in the war to attract and retain top talent.

The recent LinkedIn 2023 Workplace Learning report highlights the importance of embracing and unlocking the potential of the whole employee. In our fast-paced, high demand and ever-changing business context, developing people performance skills that are needed to be successful for the future requires a knowledge of what we need right now. Effective leadership skills required to stay agile and resilient need to be closely aligned with business objectives.

For the remainder of 2023, business leaders will continue to face challenges in the competitive talent landscape, pressure to control costs and a looming economic downturn. We will be operating in an increasingly unpredictable environment, with evolving return-to- office policies, higher employee turnover, and more burned-out employees than ever before. Gartner ‘Future of Work Trends for 2023’ highlights that organisations who succeed at addressing the most critical aspects of work - acquiring and retaining talent, supporting all employees holistically, and confronting how they ethically collect and use employee data — will be able to differentiate themselves as employers of choice. Companies can position themselves for future success by designing robust future-of-work strategies that get ahead of these trends and address emerging challenges proactively.

Conclusion

The increased pressures of the past few years have put a strain on employee engagement. Many managers that we work with are feeling ill-equipped to effectively address this pressure point and feel overwhelmed by the level of energy it takes to support engagement and connection. The signposts out there on the horizon do not indicate that this will ease in the near future. So, valves have to be turned and levers have to be pulled to minimise the pressure from within the company, by focusing at an organisational level on human centred initiatives such as; creating a culture of belonging, creating a language of resilience and accountability, focusing on feedback and recognition, driving sustainable performance and team health in a hybrid world, developing emotional intelligence, and harnessing technology to improve outcomes and performance. These initiatives will strengthen not only the workforce but, critically, also the leaders and managers who serve, support and guide the teams and people that make up that workforce.

Get in touch

At Prism, we engage with organisations to ensure that every team member is working towards a shared vision purpose and organisational goal. When teams are aligned and engaged, communication, productivity, collaboration and efficiency increases across the organisation. We work closely with our client partners to clarify their purpose, priorities and ways of working to ensure everyone’s energy is focused in a way that builds alignment, psychological safety and resilience.

To find out more, please get in touch – Contact Us