Industry News

Recently, the MissionSquare Research Institute (formerly the Center for State and Local Government Excellence at ICMA-RC or SLGE) released its report, Six Workforce Trends to Watch in 2023. The Institute researched how public sector employers can manage and support their current workforce, as well as attract new talent. 

According to the report, although 2022 has been challenging for state and local governments and other public service organizations, it has helped leaders gain insights on workforce management systems and support while attracting new talent. The report provides various strategies and actions that public service employers can take to be “employers of choice” and help to improve retention and recruitment. Based on their research, the key workforce trends to monitor in 2023 include:

• Communicate the full value of benefits;
• Customize recruitment appeals;
• Maintain retirement plan funding;
• Restructure the workforce;
• Take a holistic view; and
• Prioritize data-driven decision making. 

Regarding retirement plan funding, the report states, “2022 brought significant economic volatility impacting individual finances and worker anxiety. The first mission for plan sponsors is to weather volatility and commit to maintaining actuarially determined contributions. This will help ensure funded levels do not drop, which would place additional pressure on future contributions or on potentially higher-risk investment strategies designed to make up for any shortfalls. Full funding of retirement plans supports the dual goals of long-term fiscal stability and leveraging retirement plans to serve as effective workforce recruitment and retention tools.”

The report is available here.