Career Cushioning is the new workplace trend of 2023

varsha sarkar

August 17, 2023

2:11 pm

In order to safeguard themselves if they are laid off, some employees are polishing up their resumes and strengthening their abilities.

This practice of commencing the job search while still employed in one position is frequently referred to as “career cushioning” or “recession-proofing.” The phrase began to gain popularity towards the end of last year and is now more common as more businesses announce unexpected layoffs. Given that we’ve had high inflation and that we could be entering a deeper recession, it’s really, really healthy and a good idea to make sure that you are networking and make sure that you are ready for layoffs if you have concerns about them or work in an industry that is affected by them.

The good news is that many businesses intend to personalise employee experiences on an “unprecedented” scale, according to the Top Employers Institute’s World of Work Trends Report 2023.

It continues, “What has been “people-centric” will become “person-centric” this year as the rise of individual employee requirements continues apace.

According to the TEI’s analysis, which is based on a survey of more than 2,000 businesses worldwide, “the personalization of consumer needs has been a struggle for enterprises and now employees expect to be treated as ‘internal’ customers. Only companies that go above and beyond to show their employees a sincere and heartfelt commitment in this way will elicit the emotional response required to support a high-performance culture.

After the Great Resignation wave swept the globe, these “relatable” firms are questioning traditional ideas of value creation and redefining how they contribute to society, according to Mercer.

Due to the Great Resignation, a structural transformation in the labour market is being driven by a fundamental shift in people’s values, the report claims. The phenomenon of silent resignations and the 21 consecutive months in which voluntary resignations in the US have topped their pre-pandemic high are proof that employees are driven to act.

Connections are crucial, and the aftermath of the global tech layoffs has shown how many people are required to use their networks. Updating your professional social media presence online (like LinkedIn) is an excellent strategy to stay in touch with possible contacts and makes it easier for you to carry on networking. You never know what opportunities might present themselves.

Although career cushioning may not be for everyone, it never hurts to plan because knowing what you want from the future can provide anything you want to accomplish next, a safety net and a sense of stability. Employers in the UK are having trouble filling openings as a result of a wave of early retirements brought on by the pandemic, according to the Chartered Institute of Personnel and Development’s quarterly Labour Market Outlook poll released in February.

With the economic backdrop of growing inflation and the attendant cost-of-living crisis, skills and labour remain scarce, according to Jon Boys, senior labour market economist for the CIPD.

Especially older workers, carers, and those with health concerns, “many firms are seeing the potential to recruit certain populations to fill vacancies, but this also demands an emphasis on increasing job quality, notably flexibility.”

The UK government unveiled new rules in December that would allow employees to request flexible working arrangements from the moment they start working for the company.

The entire market share of totally remote and hybrid workers will rise from 52% in 2021 to 64% by the end of 2026, according to a Gartner report, as a result of the democratization of technology, digitization, and automation of labour.

“Hybrid is no longer simply an employee benefit, but an employee expectation, requiring companies to establish a human-centric approach to hybrid,” the statement reads. The social, cultural, and technical infrastructures of nations are significantly impacted by the strategic workforce policy known as the “hybrid workplace“. To generate results in 2023, organisations will need to concentrate on three aspects of human-centric work: adaptable experiences, deliberate collaboration, and empathy-based management.

varsha sarkar

August 17, 2023

2:11 pm

Related Articles

Astound Digital and Shopify Join Forces to Supercharge Retail Commerce

June 12, 2024

The world of retail is undergoing a dynamic transformation, and two industry...

Read More

Smile Now, Pay Later: Basis Partners with TruStage to Offer BNPL for Dental Care

June 12, 2024

The rising cost of dental care can be a barrier for many...

Read More

Nexo Empowers Retail Investors with The Tie’s Institutional-Grade Crypto Analytics

June 12, 2024

The cryptocurrency market can be a complex and fast-moving landscape. Now, retail...

Read More