Executives Take Aim at Hiring, Retaining Talent in 2023

By James McDonough posted 12-15-2022 04:05 PM


Looking ahead to 2023, business executives’ priorities will require human resources leaders to step up with results, according to the 2023 National Business Trends Survey from the Employer Associations of America (EAA), a national consortium of employers associations. Their top concerns and challenges fall squarely in HR’s wheelhouse, as seen in the following highlights of the survey of 1,167 employers.

Greatest challenges in 2023:

  • Talent Acquisition

  • Talent Retention

  • Cost of materials

The most serious long-term challenges:

  • Inflation – 51%

  • Talent acquisition – 50%

  • Talent retention – 45%

 Top interventions planned in 2023 to strengthen business results:

  • Invest in technology – 45%

  • Invest in equipment – 43%

  • Increase recruiting emphasis – 36%

  • Increase training budget – 24%

  • Implement formal employee engagement programs – 23%

 The common thread is talent. In 2023, it’s all about finding, hiring, retaining, and maximizing the right people.

If talent tops your leadership team’s 2023 priority list, Employers Council membership offers resources, expertise, and services to enhance HR’s ability to secure the right people:

  • Recruiting services supplement your efforts, and resources offer guidance.

  • Engaging and retaining talent is about more than pay and benefits. It is also about the heart. Workplace culture and relationships matter; membership provides access to organizational development expertise to address workplace conflict and other workplace challenges that hinder engagement and retention.

  • To enhance supervisor and manager skills, training and coaching can help.

HR professionals must connect with their executives to understand and align their efforts for 2023 success. Contact us for help with stepping up to the challenges ahead.