In Summary
It doesn't matter what type of business you are running or what industry you are in: human capital management is one of the most important elements of success. As we move further into a post-COVID-19 world, 3Cube Property Solutions examines some of the challenges and developments to be faced by human resources professionals, both in South Africa and globally in 2023.
Increased reliance on cloud services and smart solutions
One of the challenges facing HR - as touched on by Sage's white paper titled Payroll and HR in SA: Rising to the challenges of change - is that many HR professionals are required to dedicate much of their time to the manual maintenance of employee data. This leaves them with insufficient time to take advantage of employment tax incentives or to make the company appealing to top talent. The COVID-19 pandemic showed that companies who had already switched to smart cloud-based payroll and HR systems were more adaptable to change than their counterparts who were still using legacy systems. The report also points out that having time freed up allows HR to focus on other important tasks like strengthening organisational culture and paying attention to the social issues that matter most to Generation Z - whose members are now joining the workforce.
As we move further into the 2020s, more and more companies will start making artificial intelligence a core component of the HR function. This will be used for finding suitable candidates and facilitating employee engagement in office environments. The relationship between human resources and technology will continue to grow stronger and more complex.
Gamification - a new way to make work fun
According to research undertaken by the HR Exchange Network, an online news resource for HR professionals and thought leaders, gamification is one of the top growing trends that we will see in 2023. As the name implies, gamification involves bringing elements of video games into the corporate context to appeal to younger employees. Tools such as leaderboards, points and badges provide inspiration to a generation that has grown up with screen time being part of their daily lives.
On a similar note, Gartner, a company that delivers objective insights to global executives, has issued a prediction that by 2026, 25% of people will spend at least a full hour every day in the Metaverse. In order to be ready for this, businesses need to start strategising about how they can engage and collaborate with their employees in new and dynamic environments.
Employee engagement and wellness
Obtaining and retaining top talent will continue to be a focus in 2023. Rather than lose their star employees to competitors, companies will focus on investing in retention strategies. Such strategies will include creating positive work environments and offering competitive benefits packages. Top strategies for retaining top talent include providing opportunities for growth and advancement, soliciting and using feedback from team members and recognising top performers.
Many employers question the relevance of employee engagement strategies and ask how they make a difference to the bottom line. The answer lies in the fact that engaged employees are happier employees, and this in turn leads to higher productivity, reduced absenteeism, higher employee loyalty and improvements in customer relations.
It has never been more apparent that staff engagement and forward-thinking human resources strategies are essential to the optimal running of any business. Having the right premises is an essential part of helping your team feel at home. Contact 3Cube Property Solutions for assistance in finding the right commercial or industrial property in Gauteng.
