Happy New Year, here’s what to look out for in 2023

Undoubtedly, we are about to see the ramifications of one of the deepest recessions forecasted for many a decade, this will make business survival a top priority in 2023. They always say where there’s decline there’s opportunity, and even though these chances will be less, your full concentration must be on seizing them.

For this year to be successful, you must ensure that your current staff buy into you and your philosophies, and that they understand the importance of being one team. This will be a case of protecting your business and protecting their jobs, so everyone must be on the same page. 

This of course will mean less focus on recruiting staff and more focus on developing the current crop, this will have a short-term effect on the costs of the business but will benefit the company for many years to come. You will be employing better quality people whom you have helped get to their new skill levels.

This means you must have a good working environment within the organisation, and you must accept hybrid working as an option. Staff loyalty can’t be bought of course, but the culture be ingrained into employees. If people enjoying going to work, then they will contribute more to the business and be a bigger part of the company.

Also, this must be shown in rewarding staff through pay, it is always a more cost-effective option for a business to retain staff than seek new employees. One of the biggest issues that can occur in a business is when it is felt there is secretiveness over wages, transparency always works better. Wages these days are only part of it, employees also highly value rewards and benefits. It is vital to offer a benefits package to staff, and the option of rewarding loyalty and length of service with extra benefits is something to seriously consider.

As we now know from the past few years’ experience and research, mental and general health wellbeing is the key to most of the success of a business, everything we have mentioned above is to put the staff in a good frame of mind. In addition why not offer a few physical wellbeing options too, benefits such as discounted Gym memberships are usually available is the company discusses it with the local Gym, maybe extended lunch breaks with time for a walk included, this may mean extending the day to make the time up of course, plus there are many other options you may consider.

In conclusion, we wish everyone success for 2023, it will be difficult, but if we all work together as small businesses, we will succeed and be the backbone of the UK economy. Remember Human Results is here to support all your HR needs. If you need a free consultation, call us today on 01952 288361.