The current labor market presents challenges for employers looking to attract and retain talented employees. Despite recent highly publicized layoffs, especially in the tech sector, the unemployment rate has remained relatively low. This makes replacing talent challenging. Losing talent is also expensive, making retention critical for the success of every employer.

Workplace well-being transforms every day, and many organizations have a renewed focus on employees as people. Employees want to be treated like human beings—not just resources. More than ever, workers want to belong in the workplace and feel recognized, appreciated and safe. Correspondingly, when employees’ well-being is thriving, they often take fewer sick days, increase their job performance, manage stress better and experience less burnout, all of which directly impact organizations.

As labor challenges continue throughout the year, more employers are exploring skills-based hiring to help them compete for job candidates and expand talent pools. While specific qualifications may be valuable for some roles (e.g., knowledge roles requiring degrees and licensure) or industries (e.g., health care and education), HR professionals and senior leaders may benefit from considering candidates based on desired skills rather than experience or education.