Business Trends 2023

The worlds of work and business have adapted at a frenetic pace in the last few years. They have been shaped by the need to evolve fast, in part due to the Covid-19 pandemic and also rapid changes in technology as well as flexibility in the workplace.

As we near the end of 2022, the WeDo team took a peek at five of the biggest trends businesses can expect in 2023.

The perception of human resources as a support function will shift.

Now leadership is needed from HR to help businesses navigate the complexities of a predicted recession, labour shortage and an agile workforce. That’s no mean feat, and businesses will have to invest in their HR team and resources to get ahead.

When it comes to retaining and recruiting workers, employees are now coming to expect salary transparency from the start of the job search process.

Flexibility around working patterns, such as the ability to work remotely, over four days or on a hybrid basis, is also an in-demand requirement.

Businesses can save time in the recruitment process and be more attractive than their competitors if they are able to be open about pay and benefits from the beginning.

But it is also important to review remote working arrangements to ensure they are not damaging to workplace culture and employees’ mental health. Bringing people together for celebratory or communication-focused events is a positive way to encourage interaction across departments and keep in touch.   

Automated systems are a big growth area across almost all industries, from retail to recruitment. This can lead to changes or reductions in manual roles.

Companies need to ensure they are communicating digital transformation with their staff as well as retraining them for new roles as necessary. 

Redefining the work-life balance. Apps such as Slack have transformed the way we work collaboratively but can lead to an ‘always on’ culture of expectation.

Leaders should set an example by examining the use of digital tools and whether time restrictions need to be set.

In France for example, any companies which have more than 50 employees are required by law to establish hours when staff should not send or receive emails.

More waves of new businesses.

There was an 18 percent rise in the number of new businesses being set up at the beginning of 2022 and that is expected to continue in 2023. More people, especially young people, are recognising the benefits of working for themselves.

And if you are looking to go your own way with a start-up in 2023, then you are in luck.

Let WeDo take some of the strain with our bespoke approach to start-up funding and back office support. So you can focus on the bigger business picture.

Call us on 0330 900 5000