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What would be in focus during 2023?

The year 2023 started off with a bang at GatewaysGlobal and for me especially. As usual and a every year’s last week custom, was on personal leave celebrating Christmas, our two wonderful sons’ birthdays followed by new year celebrations.

With covid protocols taking back seat and talks of global recession and layoffs among some of the big names taking the headlines; below are some areas that would be in focus during 2023 as per our interactions with clients who are predominantly in family business space and HR fraternity

  • Workplace Stress – It is the emotional, mental, and physical strain caused by the demands and pressures of a job. It can stem from a variety of sources, including heavy workload, tight deadlines, lack of control over one’s work, conflicts with co-workers or supervisors, and job insecurity. Prolonged stress can lead to burnout, physical health problems, and decreased job performance.
  • Employee Experience – The moment of truth or the real-time experience of employees in their day-to-day working is very crucial for any organization, especially in a family business to succeed and improve. These experiences help foster a positive work culture, boost innovation, engaged employees and ultimately lead to better outcomes like brand reputation and customer service & satisfaction.
  • Employee Development – Family businesses take advantage of global recession & layoff’s and lower attrition by developing their key / critical resources. They would invest in employees to acquire new skills and knowledge which allows them to be more effective in changing technological advancements. This in-turn helps these businesses to improve employee performance, retain top talent, stay competitive and support long term success
  • Employee Engagement – With relaxation in covid protocols and as businesses are slowly opening their doors for employees to work full time in offices, the work-life balance and employee mental and physical well-being are of paramount importance. Any organization’s growth and success is hinged upon the emotional and intellectual commitment that their workforce have towards their work and organization. So now we are seeing multiple engagement activities being planned & actioned by family business owners to build up their engagement scores.

Family businesses will be focussing on the above areas to improve their results in the coming year. But there are multiple strategies to overcome and there is no one-size fits all solution. Every organization should tailor their approach to their specific workplace. If you are planning initiatives in this space, feel free to reach out to us.

Senior Consultant – Organizational Performance

Vijay is the senior consultant at GatewaysGlobal. Well-grounded with two decades of experience, Vijay specialised in Global Workforce Management, Human Capital Strategies, Redesigning of HR processes/improvisations taking advantage of the Lean Six Sigma and ISO Standardisation tools and so on.

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