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Which Trends Will Impact the Dallas-Fort Worth Workforce in 2023?

The new year brings new trends that impact the workforce. Understanding these trends helps prepare you for how they may affect your employees.

Staying on top of these trends helps your company plan accordingly. Preparing for a range of outcomes can put your organization in a favorable position that promotes growth.

Find out which trends will impact your Dallas-Fort Worth workforce in 2023.

Gender Equality Stays a Top Priority

More women will hold leadership roles. According to McKinsey & Company’s Women in the Workplace 2020 study, companies with female representation in top leadership roles are 50% more likely to outperform their peers. Having more women in the C suite, on boards of directors, and in other leadership roles helps close the gender gap.

Upskilling Will Be Essential

Employees continue to change jobs in record numbers. As a result, employers continue to increase the effectiveness of their hiring and retention methods.

Upskilling encourages employees to remain with their companies. Developing in-demand skills increases the value these employees add to their organizations. Expanding skill sets also keep these employees competitive in the job market.

Providing opportunities to upskill encourages talent to remain with their employers. Employees who upskill tend to remain engaged and productive and improve their performance. This benefits the bottom line.

Social Purpose Becomes Increasingly Important

Job seekers will look at more than just a company’s image when deciding where to work. They want to see clear displays of social responsibility.

Actively demonstrating social responsibility helps companies attract candidates in the tight labor market. According to Vantage Circle, 78% of millennials say social responsibility is one of their main reasons to work for a business.

As a result, many businesses are partnering with local nonprofit organizations to provide community service opportunities for their employees. Some organizations also are including philanthropic purposes in their mission statements.

Companies that promote social responsibility tend to outperform their competitors who do not. According to Vantage Circle, 55% of consumers are willing to spend more on products or services from a company that emphasizes social responsibility. As a result, being socially responsible can lead to a healthier bottom line.

Artificial Intelligence Increases Efficiency

Artificial intelligence (AI) and machine learning (ML) are among the technologies that continue to change how work is performed. AI takes on repetitive, low-value tasks so employees have more time for high-level tasks. This is especially important for work that involves the human touch.

AI helps improve human expertise, interpersonal skills, and judgment. According to Information Age, these are some of the reasons why 74% of companies believe AI will be used in all enterprise platforms by 2023.

AI and ML are helping to close the skills gap and make more educated decisions. The technology also improves operational efficiency and reduces costs. These benefits continue to increase in value for companies.

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