HR Market Update – March

The macroeconomic environment continues to exert a significant influence on the world of HR. A positive jobs report in the US and strong retail sales figures suggest that interest rates may rise in the future. Meanwhile, in Canada, the January jobs report surpassed the median estimate in a Bloomberg survey by tenfold, with the unemployment rate hovering near an all-time low of 5 percent. As we advance further into 2023, these are the trends we are seeing in the HR space:

The Leadership Opportunity

A key topic that has come up in our network is leadership, in terms of:

1. Demand for talented leaders
2. Movement in the talent market for leaders
3. Training to grow effective leaders

On the Recruitment side, as bonuses are being paid out, we are seeing lots of movement of people at the executive level, and demand for executive search has increased markedly. For organizations looking to tap into our vast network of senior leadership talent, reach out to Kelly Gillis, COO. On the Career Transition side, we are seeing individuals doing confidential searches, and demand for our Outplacement services continues to rise.

From a Coaching and Talent Development standpoint, we are seeing strong demand for our programs including Manager as Coach, and Team Effectiveness. Most recently, Ahria Consulting’s Kristy McQueen hosted our first webinar of the year “Developing Leaders in Challenging Times.” And launching in spring of 2023 is our newest offering “Next Level Leadership.” Based on feedback from many in our network, this program augments our other leadership offerings by focusing on key skills needed to be an effective leader (e.g. decision making, anticipating the future, challenging the status quo, interpreting complex data and more.) If you have or are a new leader, this course should be on your to-do list. Reach out to Kristy McQueen, our Talent Development lead for more information.

The Engagement Imperative

As the labour market continues to tighten organizations we talk to are realizing how critical employee engagement is to their talent pools. We have known for years that engaged employees are more productive, have lower absenteeism rates and are more likely to stay with their current organizations. However, measuring employee engagement can be a bit of a mystery. That is why Ahria created the Employee Pulse Assessment (EPA) in conjunction with researchers at Western University’s Industrial/Organizational Psychology Department. Reach out to Terry Gillis to learn more about this tool and how you and your organization stack up to others in your area.

And be sure to watch out for London’s Best Places to Work initiative this summer – you may be crowned a best place to work!

Compensation: Preparing For All Scenarios

Responding effectively to the ongoing challenges of an uncertain economy remains a top prediction and priority for 2023. Many organizations are preparing for all scenarios. We’re seeing that clients are conducting market benchmarking and analysis earlier than usual and that a large number of organizations are redesigning compensation structures and processes to optimize their pay practices.  Reach out to Michael Little to hear more about what leading organizations are doing to optimize total rewards

Quick Takes

• Sign up here for our weekly HR job postings
• DisruptHR is coming back in the Fall of 2023. – interested in speaking? – reach out to us today!
• Learning and Development Series – Starts April 5 – To register or  learn more click here
• Our job search group is back and OPEN TO ALL! We have rebranded it as “The ONE Group” (Opportunities to Network for Employment Group) – Send us an email to join [email protected]

Is your organization making the most of The Leadership Opportunity?

Looking to up your leadership game? Have leaders who need to reach the next level? Are you working to ensure you are engaging and retaining the best people? We’re here to help. I invite you to book a quick 15-minute chat and let’s have a sounding-board conversation