New report makes key business predictions for 2023
Human capital will be the biggest investment focus for businesses organisations in 2023, according to a new report from global regulatory compliance software company, Ideagen.
Examining trends and forthcoming legislative or regulatory changes, “2023 Predictions: The year to invest in human capital” details eight key findings that suggest, after a tumultuous 2022, success or failure in the next 12 months will be directly linked to how well organisations equip their people to manage the changing landscape.
“2022 was the year we focussed in on the robustness of business plans,” said Ideagen CEO, Ben Dorks.
“What could have been another year of post-pandemic recovery became 12 months of change, replanning and reforecasting as the combination of geopolitics, energy crises, supply chain challenges and rising inflation put unexpected pressure on top and bottom lines.
“Through the process of researching our 2023 predictions, one clear theme came through: businesses will need to look inward in order to flourish externally.”
Some of the key findings from the report include:
- Criminals will exploit employees’ personal financial vulnerability to access critical organisational systems or commit fraud
- Weak BYOD (bring your own device) policies will lead to increased fines from regulators
- Regulators and standards bodies are to crack down on ‘box ticking’ favouring a dynamic approach to risk management
- Quiet Quitting or ‘working to rule’ is set to continue through 2023, impacting productivity
- Tighter controls or higher penalties for ‘greenwashing’ ESG claims
- Agility of people and systems will matter more than resilience.