Rémi Fouilloy (Morgan Philips) : Top Talent Challenges for Luxembourg in 2023
For many years, Luxembourg has faced a competitive talent landscape. Today's workforce new flexibility expectations are not so easy to implement because of cross-border considerations. This is an absolute priority to ensure that Luxembourg remains a place of talent attraction.
How can companies (and Luxembourg) attract candidates to Luxembourg?
It is not unusual to meet people who originally relocated to Luxembourg for 2 to 3 years, and have now been there for more than ten years, due to the values of dynamism, multiculturalism and the country’s quality of life. However, the attraction of talent is more and more a concern for many employers. Luxembourg has a lot to offer but the country is less attractive because of fundamental changes. Work flexibility represents now one of the top priorities for talent and the existing inequalities between Luxembourg residents and cross-border workers on this topic is undoubtedly a major issue today. If Luxembourg wants to remain a place of attraction, it's a must to find a political solution for two days of home office per week for cross-border workers and to solve the problems related to mobility.
“In 2023, HR has a strategic role to play in enabling companies and organizations to adapt and prepare for new challenges and in a highly unpredictable environment.”
How can companies reduce their staff turnover ?
Keeping employees starts with hiring the right ones with the competencies that match the vacancy, of course. But, how well do the candidate would fit in with your company’s culture? That’s a key point to check during the selection process. Companies need to develop a culture that fosters open communication, trust and mutual respect. People remain in a company because they feel valued (no only on a salary point of view) and supported. They expect to be inspired toward a common purpose and vision. It’s very important to create opportunities to develop skills and be challenged by new projects to keeping employees engaged for the long term. In addition, clear, open, and two-way communication is essential in building community within the workplace – whether an employee is fully remote, hybrid, or at the office full-time.
How can HR help companies grow?
When the pandemic hit, HR leaders had to handle many extraordinary situations they had never navigated before. With the shift to hybrid work, mass resignations, economic volatility, and geopolitical upheaval, the HR function has been challenged in many fronts in the last couple of years. In many companies this unexpected exposure placed HR professionals in a more strategic position. More CEOs are looking towards their CHROs for views on the new world of work challenges while also thinking about more traditional topics such as talent, digital, and upskilling. In 2023, HR has a strategic role to play in enabling companies and organizations to adapt and prepare for new challenges and in a highly unpredictable environment. The HR “Business Partner” is more than ever a reality, helping senior leaders envision, develop and execute an HR strategy that supports growth and performance.