With just 2 months left in 2022, everyone’s focus is turning to their 2023 goals and how businesses can continue to improve in ever-changing landscape. This has been incredibly challenging for HR leaders. Economic crisis, talent shortage, great resignation/realization – you name it! HR leaders today, are facing it head on. At the upcoming GDS Group, HR Insight Summit, the event will dive into 3 core themes HR leaders are focused on.

1 – Building a Resilient, Skilled, and Innovative Workforce

Today’s HR executives are tasked with navigating a potential economic slowdown, modernizing tools with cutting-edge technology, improving diversity, equity & inclusion (DEI), and developing the critical workforce skills needed for long-term competitive advantage. They’re being asked to do these tasks while proving the value of each investment to the rest of the C-suite.

Building the future of work is no small task.

It’s clear that candidate quality is also a major concern for early talent employers. Recent research by Amberjack showed that the biggest problem that came from lower application numbers was candidate quality, with 40% saying this was their main challenge.

Interestingly, by 2030, 30% of the workforce will be made up of people born after 1996, and everyone in the baby boomer generation will be 65 or older. So, what role should early talent play in our companies, now and over the next decade? What’s the ROI of investing in the acquisition and development of early talent? And as every company becomes a technology company, and the technology skills gap continues to grow, what’s the best way to find and attract early talent with in-demand technical skills?

2 – Redefining Diversity, Equity, Inclusion and Belonging (DEIB) in an Ever-Evolving Workforce

The past year has revealed that we must confront workforce inequality if we want to embed lasting resiliency and relevance within our organizations. Before the pandemic, there was growing buy-in to the principles of DEI, from a “we should do this” perspective. Now, many companies are stepping forward and declaring that DEI is no longer something “we should do,” but rather it’s something “we must do” to resolve these inequities.

So, while we know this is something we should be doing morally, it makes good business sense too. Research by Forbes tells us that decisions made and executed by diverse teams delivered 60% better results, and inclusive teams make better business decisions 87% of the time.

We’ve already seen several major institutions announce bold changes to the way they serve customers to address systemic racism, and similar action can be taken to enhance internal practices. And we must shift the mindset from training individuals about diversity & inclusion to adjusting our daily processes and practices, so they better fit the needs of all.

So, what is involved in getting buy-in from leaders as to the importance of diversity and inclusion within an organization? What processes have organizations implemented to nurture DEIB from the start of an employee’s lifecycle, from recruitment to training?

3 – Rethinking Total Rewards in the New World of Work

A key part of any organization’s strategy should be to revise total rewards, to reflect changes to both financial and non-financial incentives. Holistic total rewards that address the needs of the “whole person”—including their physical, mental, financial, and social well-being—are increasingly important, especially as employers look to create a positive employee experience and attract and retain talent in a tight labour market.

Total rewards should be more about flexibility and inclusivity, not only about money. Here are some interesting statistics to share why. According to a recent report by Work Human, when employee recognition really hits the mark, employees are less likely to leave and are 5x more likely to see a path for them to grow in the organization. They’re more satisfied and are 44% more likely to be “thriving” in their life overall. And productivity sores, all without reaching burnout, with 73% being less likely to “always” or “very often” feel burned out.

Now that employees have had a taste of what a more balanced work/life feels like, they’re not going to give it up. So, employers must strategically examine what makes sense and differentiates them to their competitors.

So, what rewards does a company need to offer to compete in the current marketplace? How can you change your compensation and benefits offerings to retain current talent and attract new talent?

There is no time to lose! The competition is transforming and growing every day. Take this amazing opportunity to join us to network, learn and engage! GDS summits are tailored 3-day virtual event conferences that bring together business leaders and solution providers to accelerate sales cycles, industry conversations and outcomes. 88% of summit delegates said the overall experience of the summit they attended was either above average or excellent and 100% of said it provided them with actionable outcomes to support their current initiatives. 