Opinions of contributing entrepreneurs are their own.
The year started with HR continuing to make headlines as news of mass layoffs within technology and other industries dominated headlines and discussions about the incredible capabilities of predictive AI – such as those showcased by ChatGPT – have complicated the hiring process. It may seem that 2023, after years of record-low unemployment and rapid hiring, will usher in a new era for managers and employees alike; one that can once again represent the best interests of employers, alternating with a strong desire for employees to feel a sense of purpose and belonging at work.
While candidates are likely to have less leverage entering negotiations than they did at the height of the Great Resignation, the balance of power in the workforce may not change as significantly as one might think. Unemployment is still incredibly low and there are still job openings at companies across the country. News of layoffs elsewhere may even lead employees who feel undervalued or at risk in their current position to look for new opportunities to avoid an unforeseen loss of income.
