December 21, 2023
Hello, and happy winter solstice, the day that marks the beginning of longer days and shorter nights. We can get behind that, can’t we?
We decided to combine our December and January newsletters into one winter-timed newsletter this year. I know you’ve got a lot on your plate with holidays coming up, checking off your final to-dos for the year, all while planning and preparing for 2024. If you haven’t been able to set time aside for your human resources and recruiting planning, it’s not too late. Reach out to us if we can help.
And, let this be your gentle reminder to carve out some time to practice self-care during this busy and stressful season, especially with so much turmoil in the world. Take a break. Spend quality time with friends and family. Put down your phone. Get some fresh air – even if you don’t really feel like it. Reflect on all you’ve accomplished. I’ll bet you have a lot to be proud of this year!
In that spirit, I’m sharing this short video of the work KMA carried out on behalf of our clients in 2023. Here are some highlights:
I’d also like to share some resources you might have missed, and introduce our newest team member.
LinkedIn Poll on HR Challenges for 2024
Our December LinkedIn poll asked participants what they expected to be their biggest challenge in 2024, and the results were pretty conclusive!
More than 50% of our poll takers are most concerned with talent acquisition and retention in the coming year. About 25% expect pay transparency and equity to be their biggest challenge. And employee productivity and wellbeing are top concerns for 10-15% of our poll contributors.
Meanwhile, on December 13th, the Federal Reserve predicted unemployment to rise to 4.1% in 2024, up from 3.7% in November, 2023. This slightly higher rate of unemployment is still well below historical averages, and aligns with the expectation that talent acquisition and retention will remain a top concern for business leaders.
Over the past month, we shared three articles, each one addressing a particular facet of the talent issue. First, we discuss the power of your employer brand in attracting talent. We shared this article from the pros at the HR Support Center on how to craft a compelling offer letter they can’t refuse. And our final article for 2023 focuses on the role of recognition programs in improving employee satisfaction and retention.
I hope you bookmark our catalog of articles for steady insights on everything to do with managing your human capital. More to come!
Welcome Deirdre Fisher!
Deirdre Fisher joined our consulting team in November, and we are delighted to have such a seasoned professional join our team of HR consultants. Meet Deirdre.
However you celebrate the holidays, and whatever traditions you observe as the year comes to a close, all of us at KMA are wishing our clients, partners and friends peace, joy, and personal and professional fulfillment in 2024.
Cheers!
Kim Anania
President and CEO
KMA Human Resources Consulting