Four Future Work Trends Business Owners Should Pay Attention to in 2023
The changes in organizations and industries across the globe are surprisingly unpredictable. The pandemic covid-19 hit and changed the world, including the working trend for the current and future. This changes bring positive value when the latest trend increases employee participation for the future work trends. Teamwork produces an inspiration for every employee to work more towards the goal of the business.
This culture will indirectly empower the employees and engage with the company. The new trends bring a riffling effect on how businesses treat retention strategies, talent acquisition, training needs, compensation models and career development pathways. This trend provides an idea of how the future workplace will appear. Here are the four work trends business owners in Malaysia should pay attention to in 2023.
Future Work Trends 1: Hybrid and Remote Work
Flexibility has become the norm rather than a difference. Hybrid and remote work have been relatable with flexibility regarding where, when, and how people work. According to a recent worldwide Cisco survey, hybrid and remote working have enhanced overall performance, work-life balance, and employee well-being in Malaysia. According to the study, the freedom to work from anywhere has pleased 86% of Malaysian employees.
Furthermore, due to hybrid work, overall well-being has improved, with 72% reporting improved physical fitness and 82% reporting financial savings in the previous year. Employers who do not give flexibility will experience more employee turnover as they seek employment with a value proposition that closely matches their preferences.
The long-term performance of your company is influenced by lower recruitment, sourcing, onboarding, hiring, and training expenses, as well as improved employee skill and knowledge levels. The flexibility of a hybrid work paradigm may also increase employee’s loyalty.
It gives employees the sense that management gives them the freedom to perform their jobs on their terms. Employees do not feel “watched” by management or that every non-work action is being recorded. They are allowed to balance work with personal commitments and errands that they may need to conduct during work hours.
Future Work Trends 2: AI-Augmented Workforce
The conversational AI drives the conversation between the relationship between human workers and augmented technologies. An augmented workforce happens when human labour is assisted by the cobots, intelligent virtual or digital workers in completing the work task. Human staff will give the command to control the workflow of the operation. This combination will improve safety and work efficiency.
This interaction is essential to comprehending their needs and providing a solution. In 2025, according to the World Economic Forum, 97million job vacancies will be available due to the increase in AI and automation. Based on the rise in augment, the roles of staff are also changing as the technology will handle the routine automated repetitive work. This situation is convenient and makes the work more efficient as the human labour can focus on the job that requires more human touch, high-level strategy, imagination, creativity or emotional intelligence.
Technology is a uniquely human creation to lighten the duty of humankind. The help from the technology will ease the professionals’ jobs, such as doctors analyzing medical records and assisting them in diagnosing the patient’s disease with computer vision capabilities. A lawyer can quickly review the case history to find precedents without spending much time finding the records with AI technology.
Augmented analytics plays a significant role in retail to help the store manager with logistics and inventory planning. With augmented analytics, the sales assistant can predict what the shopper is looking for. In addition, the business world would not be this efficient without the help of technology which assists them in marketing to target segments, audiences and campaigns.
Future Work Trends 3: Staff Well-Being and Mental Health Management
Over the last several years, statistics about how employees struggle at work have appeared everywhere. This brings a much-needed attention to employee mental health and well-being. Describing this as a workplace trend isn’t easy because it’s not going away anytime soon! According to a report published by Employment Hero (based 1000 employees survey), half of Malaysians said that the epidemic has caused them to reconsider their career objectives.
According to the report, 58% of Malaysian employees are burnt out, and 51% have an average work-life balance. Several factors may cause burnout, but the pandemic’s impacts on employment and mental health appear to be the primary problem among Malaysian workers. It’s encouraging to see that Malaysian businesses are beginning to address burnout.
They give more significant mental health support, with half of the employees feeling that their company highly supports their mental health. Despite this, 49% are concerned that disclosing mental health concerns may harm their employment, and 50% of people find it awkward to discuss mental health issues at work.
Employers may start reversing burnout via mental health in the following ways:
- Make two-way communication open and transparent.
- Examine workplace limits to give employees more autonomy.
- Develop and aggressively promote a mental health strategy to your personnel.
- Encourage your staff to take vacation time.
- Encourage your employees to take personal mental health breaks throughout the day.
- Create a secure atmosphere where employees may confide in their managers if they struggle to juggle their obligations.
Future Work Trends 4: Prioritizing New Skill
A skillful person is someone with knowledge who knows how to prosecute it into action effectively. Nowadays, the demand for the skills person, especially with the tremendous soft skills in the related field, is critical. In the hybrid or remote workplace, soft skills become prioritized together with digital skills. Microsoft projects have done research which shows that in 2025, there will be 149 million new tech jobs due to digitalization.
Social media marketing skills are critical in the online business. Proper social media marketing can boost the sale of the product. Facebook, Instagram, and TikTok are examples of social media platforms currently trending. It is scarce to find people with no social media nowadays since it has already become the norm. People get knowledge from the internet, and the trending news is spread through social media. The skills of digital marketing give you an advantage in getting involved in the business.
Changing the Workforce Trends in Conclusion
COVID-19 recovery entails more than just health concerns. It is also vital to address the substantial economic and social consequences. Employers must take these working patterns seriously to keep their businesses running.
Other than the changing workforce trends, many business tips can help your company’s growth, especially in online marketing strategy. Let Cleverus assist you in growing your business! Contact us on our mainline at +603 9054 3113 or email us at [email protected] if you have any inquiries!
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