1. Ongoing Hiring and Retention Issues
Workers are continuing to leave their jobs at a higher-than-usual rate. As of October 2022, there were 10.3 million job openings in the United States. The gap between the number of people looking for work verse the open roles remains … Why? This means that it is important to prioritize effective hiring and have an increased focus on employee retention programs such as: Investing in employee’s careers, recognizing employee’s hard work, focusing on building strong managers, reassessing compensation, considering benefit packages, prioritizing work-life balance, establishing personal employee growth plans, etc.
2. Prioritize Employee Well Being
After almost 3 years of working in a pandemic and dealing with increased stressors both inside and outside of work, employers need to continue to put their employees and their well-being first. Some ways they can do this is: mental health days, making praise part of company culture, launching an employee well-being survey, creating a monthly virtual wellness event, weekly mental health tips, etc.
3. Focus on Flexibility
Flexibility will be exhibited in two different forms:
- Time: Employees want the freedom to make their schedule and not be micromanaged in the process. There has been a social shift in recent years and more priority on work-life balance and family. Because of this, we will see people wanting a more flexible schedule or even a 4-day work week.
- Location: Employees want the freedom to work remotely or hybrid. At this point, approximately 58% of all Americans have the opportunity to work from home at least once a week, and 38% are not required to come to the office at all. We are going to see this trend continue into 2023.
4. Increased Diversity, Equity, and Inclusion (DEI) Efforts
As we enter 2023 DEI continues to be top of mind. According to a survey from GoodHire, 81% of employees would consider quitting a job if they felt a company didn’t demonstrate a true commitment to DEI. After an increase in awareness in 2020, some companies have lost their momentum. It is important to continue to prioritize this in your workplace.
5. An Emphasis on Continued Employee Growth
As more leaders prioritize training and promoting within the workplace, they’re creating a growth mindset in their culture. This allows employees to see a more long-term relationship with your organization and shows them you care as much about their career as they do.
6. Focus on Benefits
60% of employees view benefits as the most important non-salary factor in starting to work for an organization. For nonprofits that can’t necessarily compete from a salary perspective, it is important to try to “sweeten the package.” Some Benefits you can offer include: continuing education, fitness plans, pet insurance, on-site childcare, bringing your dog to work, 401K match, emergency saving fund, etc.
Kenneth R. Cerini, CPA, CFP, FABFA
Managing Partner
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.