Physician burnout is at an all-time high of 62.8%, with one in five physicians planning to quit their jobs over the next two years. This correlates with data that suggests health workers are facing a mental health crisis.

Among the challenges that medical students face in American colleges, a Medscape survey points out the culture of medical school as a major contributor to current hurdles. According to the survey, aspiring physicians must regularly endure sleep deprivation, long nights, and work after hours and on days off.

It [survey] indicates that two-thirds of residents work greater than 50 hours per week, with a large percentage of residents exceeding 70-80 hours per week. This culture is carried on into professional medical practice and, by most accounts, is not adequately compensated.

The realities of a stretched profession and sector have some professionals eyeing side opportunities to maximize their knowledge base in a world comfortable with online learning and social media mechanisms. Many of these professional onlookers are discovering that the creator economy and its estimated 200 million content contributors are carving out niche revenue opportunities.

The time to independently create digestible and revenue-generating content appears closer than previously thought. Adobe’s Future of Creativity study finds that 23% of professionals worldwide actively contribute to the global economy. In addition, results indicating nearly one in four people are creators imply previous constraints may be waning.

Kyle Denhoff, HubSpot’s Director of New Media, opines that lowered entry costs have provided an accessible gateway for creators to activate their ideas. "The barriers to creating a media product have dropped significantly," Denhoff said. "When we talk about creators, obviously there are folks that can produce something right from their phone and post it on social media — but we're also talking to independent writers, podcasters, and YouTubers who are building digital media products."

Parallel Partner

Like the healthcare sector's challenges, education and teachers have experienced similar confounding variables impacting talent retention. Educators in K-12, especially over the last 15 years and post-Covid-19, are finding outside interest in their skill sets, offering a pivot to current work-life balance issues.

Many accounts point to a lack of ownership of respective work-life models and preparatory activities lacking in personalization. Behind the scenes, many educators left the profession within the first five years post-certification for jobs in the technology sector serving the very same classrooms these educators left.

The intersection of teachers and healthcare providers in the creator economy has established an opportunity to share knowledge with consumers and practitioners to generate revenue more broadly.

Healthcare Entrepreneurs

Many in the healthcare industry view their position as part interventionist and part educator. As a result, some are looking to K-12 and higher education models of online delivery to stir up new and balanced professional opportunities.

As a physician, Dr. Chester Zoda faced the challenges of medical school and residency. Today he runs Digital Doctor University, an education startup company that converts physicians and health experts into content creators. Zoda, during Covid-19, was working close to 100 hours per week, and he eventually started thinking about a life through medicine that could provide balance.

“This harsh reality pushed me to seek a solution and save myself from this madness,” says Zoda.

A 2022 CHG healthcare survey found that nearly 50% of healthcare providers either left the profession altogether for out-of-sector positions, retired, or changed jobs within the industry. Respondents cited a lack of work-life balance and decreased income as key factors impacting their decisions.

Online education is a multi-billion dollar industry and growing every day. The Creator Economy has sprouted up to reveal opportunities for first-time entrepreneurs eager to monetize their respective knowledge base.

“After I started building my business and sharing my medical knowledge online, I shared my approach with a small group of health professionals who found similar success,” says Zoda.

The train-the-trainer model evolved into what is now Zoda’s Digital Doctor University. “I am leading a new generation of health experts into a brighter future like author and Doctor of Optometry and graduate of the University of California, Berkley Pam Theriot.”

The statistics of healthcare providers, like Theriot, burning out from traditional service models are growing with each headline published across the country.

Zoda points to the tech sector's impact on entertainment and commerce, noting the classic replacement artists of Amazon and Netflix replacing Walmart and Blockbuster, respectively. “The early adopters [in entertainment and commerce] are now the biggest companies in the world. The laggards (ex. Blockbuster) became bankrupt and lost everything because they were reticent to move their offerings online.”

Demographics

In the creator economy, most assume that practitioners of content monetization are Gen-Z and Millennial populations centered on entertainment. However, Zoda has found that his healthcare practitioner-customers are diverse in background and current placement. “It has been surprising, but we have seen students come to us from all levels of medical practice, from resident doctors to graduates from NASA, Cambridge, and Harvard.”

A challenge for healthcare professionals remains the choice between home and family and an occupation often linked to working for a cause or purpose. The mission, for many, is to continue delivering positive health outcomes but instead through alternative business models.

Some professionals exchange job security for schedules they control through locum tenens (temporary healthcare positions) that often provide a substantially higher income for providers.

They may not have chosen the creator economy, but many choosing this path cite creation as the key to their decision. Trevor Cabrera, MD, in looking at what he deems his “medical mortgage,” found locums created opportunities to practice medicine as an entrepreneur might in the tech sector. “I’m lucky to love my day-to-day “job” and hardly feel as if I’m working, but I’m not exempt from physical and mental exhaustion. So, I am sure to schedule in extra days for enjoyment or exploration,” says Cabrera in CompHealth.

“In New Mexico, I’ve scheduled extra days off to see the desert and climb the mountains. In Maine, I worked in an extra week to drive up the coast and eat every lobster roll I could find. I’ve even managed to make time for visiting friends and family — things I only dreamed of during residency,” he adds.

The centralized nature of medical education and practice is seen by many as a significant problem for the industry. “The sector should be looking to decentralize and democratize health care and put the power firmly in the hands of the practitioners. That's an opportunity we want to put in the hands of everyone in this industry,” says Zoda.

The mindset of healthcare content creators and the impact educational models have on professional practice are yet to field a substantial set of opportunities. Those healthcare professionals who hang a proverbial shingle are primed to be the initial explorers of the Creator Economy and the relative benefits of educating through this new and digital channel of review-generating opportunities.

Online education presents an alternative to traditional brick-and-mortar education mixed with a creator economy's explosion that appears to be accelerating a new knowledge acquisition path for professionals across sectors.

Healthcare, as an industry, has adapted to meet patient needs in a digital world. It may be time to perk up and pay attention to providers who also see the merits of online mechanisms to achieve work-life balance and monetary success.

A world of creators solely focused on fashion trends and entertainment seems to be growing as traditional occupations and providers explore new opportunities. Time will tell if healthcare providers in health and wellness fields find a reason to proctor expertise through atypical means as Zoda has.

"Online education is a game changer, and the use cases for it across industries are massive,” says Zoda.

The creator community hopes to see you through a digital device in the near future. Practitioners as educators and content creators aim to capitalize on the longstanding challenges of an industry ripe with burnout. The creator economy will continue to amass more providers and revenue while focusing on creators and their niche communities.

The welcome mat has unfurled for the next generation of practitioners. The healthcare consumer market will likely define the health outcomes of updated practices by the field. And if healthcare content creators have a say, they’ll do so from a position of power over current work and life constraints.

Interviews have been edited and condensed for clarity.

I come from an athletic family, and I was always involved in sports from a very young age. It’s simply been a part of my life. When I became a teen, I adopted lifting weights because I was self-conscious, lacked confidence, and didn’t have a healthy relationship with food.

Being half Hispanic, food was always a celebration around my house. We may have lived modestly, but my mom could make some of the best dishes that I remember to this day. Sometimes, however, I would overeat, because, in my mind, the next day might mean leaner eating prospects. I remember my dad proclaiming, “We’re gonna have to tighten our belts until payday!” That meant beans, rice, and tortillas one day, and whatever you could find the next.

On days my parents celebrated an incoming check, we had some great meals, and I would typically overeat and feel sick later. As a teenager, I spent countless hours trying to work off such tendencies, trying to outrun the calories. Even later, despite the fact that I had courses in college on nutrition and a pretty intense workout regimen, these old habits remained. There was always a faint childlike voice reminding me, “You had better eat up because you never know what tomorrow may bring.”

Through the years, I have tried to maintain a healthy lifestyle, but my relationship with food has remnants of that child within me that was always afraid of scarcity.

Having a Deprivation Mindset

It's taken me many years to understand that maintaining a healthy relationship with food and weight is not as simple as many would have us believe. Sometimes there is a deeper, emotional connection underlying all this. For those who struggle for instance with weight, food may hold deeper, unconscious roots. It may have embedded attachments to things we have experienced, to how we manage situations, anxiety, or how we grew up around food. In my example, Dr. Melanie Greenberg might refer to this as a “deprivation mindset.” As she explains,

Feeling deprived of important resources—love, food, money, and time—can lead to anxiety or anger and we may obsess about the thing we've been deprived of and begin operating in emergency mode (Greenberg, 2014).

Perhaps the last thing many of us ever ask ourselves in this country of abundance is if we feel deprived of food. As well, having immediate access to a trained expert to help do the necessary “vertical descent” work to uncover issues galvanized to food and eating is not always feasible. And in a country that promotes food 24/7 through food shows or the socialization of it (foodies), the design is to monetize desire, to want us to want more, making us emotional slaves to food.

Food can have a strong and powerful emotional draw that fills the void of sadness, loneliness, and despair or nursing hard, former experiences of emotional pain. Whatever the case may be, many people struggle with food. They may begin diets at the start of a new year only to have motivation weaken. Intermittent fasting, keto diets, diet apps for counting portion sizes, weight loss programs, gyms, and more may immerse us in a sick-cycle carousel of promises. However, even the most dedicated will find themselves struggling at various times.

How We Fail With Food and Dieting

A better place to start might be first exploring our emotional relationship with food and avoiding deprivation states. In this, renewal and reinstatement are two such ways in which conditioned responses recover, meaning, under certain conditions, we can resurrect those old habitual ways of behaving—in this case, overeating from scarcity as an example, where once initiated (renewal), the behavior may increase in frequency (reinstatement), happening with more regularity (Bouton and Swartzentruber, 1991). Renewal and reinstatement of former habits are about the recovery (resurrection) of formerly extinguished behaviors, and this is termed relapse phenomenon (Bouton and Swartzentruber, 1991; Podlesnik et al., 2017).

Renewal, reinstatement, and other relapse phenomena are now at the center of latest research inquiry because of their significance in helping understand failure rates related to extinction interventions such as dieting, weight loss strategies for eating, and more (Podlesnik et al., 2017). The recovery or re-engagement of former behaviors (i.e., former contexts and eating habits) that had been extinguished (through diets, etc.) has been studied relative to many socially significant behavioral phenomena, such as overeating, addictions, and substance abuse, to name a few (Spurlock & Lewon, 2023).

Researchers Spurlock & Lewon (2023), from their work, have described latest research that underscores how emotionally triggering events (deprivation-feeling states, celebrations, stressful situations) can function as motivating operators (MOs) and may instigate relapse both by a) triggering interoceptive (internal-emotional-biological) conditions that serve as a filtering context for relapse and, b) changes in the amount of operant responding (environmental contexts) in the presence of such stimuli.

Spurlock & Lewon (2023) also conducted their own study to test this interaction with a deprivation experiment involving mice amongst food and water access. The results demonstrated the strength of response under deprivation states that might reinforce stronger postdeprivation behaviors, where such triggers can largely reignite motivation and desire to succumb (overeating). Interestingly, however, state-dependent relapse was not observed in satiation (satisfied) states or when mice had been fed and given water regularly (Spurlock & Lewon, 2023).

Ways to Address How We Approach Things Like Dieting and Food

• Engage in reflection and deeper introspection. Ask questions like these: What was my relationship with food growing up? When I felt hungry, what was that like? What kinds of foods do I currently choose to consume and why? How do I engage food when I’m emotional—sad or happy? Do I ever feel deprived?
• Use cognitive-behavioral therapy (CBT) self-monitoring when you eat. When you eat, once you have consumed that first plate, assuming that it’s not overfilled, and you have a strong desire to go for another, ask yourself, Why? Why do I want a second plate? Yes, it may taste good; but, you are not deprived because you have just eaten, so it must be something else at work. This kind of disruptive introspection can help you begin to at least acknowledge the reasons why food may have a more complex meaning in your life.
• Don’t create deprivational eating states. This means you can eat things you enjoy, in moderation, thus recognizing that you are still free to eat foods you like, but doing so with balance. One burger, not two, maybe a small serving of fries, and half a drink. The strength of deprivation is then appeased.

I don’t diet anymore. Now that I understand my relationship with food, I am engaging in a healthier lifestyle mentally and physically. By exploring your own relationship with food, you may finally be able to unburden yourself and begin fostering balance and satisfaction. Yes, you may cheat every so often, but, more often than not, you will maintain a more consistent pattern with food in your life.

What are the overarching trends that will define how marketers will think and act in 2023, and the challenges and opportunities they will face? We explore four key trends.

For some more channel-specific predictions, see our previous expert roundups on ecommerce, personalisation, retail media, influencer marketing, SEO, and social ads.

Our trends for 2023:

1. Resisting short-termism
   1. New privacy norms impact measurement
   2. Making time for creativity
2. Digital fatigue
   1. The enduring value of CX
   2. Retreat to the real world
3. A moment of truth for owned data
   1. Adtech repositions for first-party data
   2. Data skills at a premium
   3. Focus on CRM and loyalty
4. The augmented and empowered marketer
   1. More from less: automation and generative AI
   2. Renegotiating work

1. Resisting short-termism

In our 2023 Digital Trends research with Adobe, 73% of senior executives agree that “an emphasis on immediate needs has come at the cost of longer-term planning and strategy.”​

Whilst speed is important and we saw during the pandemic the importance of responding to changing conditions and customer behaviour, the fastest reaction can never put a brand ahead for long. The survey also revealed that 76% of agency executives report that their clients focus on vanity metrics – clicks or likes – or quarterly revenue goals to determine success, rather than longer-term indicators such as brand saliency or customer lifetime value.

The theory of ad spend in a recession is well known to marketers; having some longer term perspective is key. Maintaining investment in campaigns during a recession, when brand advertising spend in particular drops, should see ESOV (excess share of voice) eventually filter through into market share growth.

We already saw some big pureplay brands discuss a shift in their marketing spend in late 2022. After its most profitable quarter ever, Airbnb execs praised its “efficient” approach to marketing spend and focus on brand building over performance. Asos’ CEO blamed acquisition slowdown on ‘insufficient’ brand spend. And NatWest’s B2B fintech spin-off Mettle is reinvesting in brand after ‘letting the ball drop’.

Though marketers have been wrestling with this balance of ‘short’ (often in digital performance) and ‘long’ for some time, there are newer factors pushing them to go slightly longer, or at least broader.

1.1New privacy norms impact measurement

“Interest in media mix modelling has been invigorated by new and more restrictive privacy norms…” writes Eric Seufert, mobile analyst and blogger at mobiledevmemo.com.

The App Tracking Transparency framework from Apple has made targeting and deterministic attribution (via IDFA) more difficult, particularly in the world of social media advertising. Seufert argues ATT has “created a recession within the social media advertising economy and certain other advertising-dependent categories,” with macroeconomic factors not the cause as many suggest.

Third party cookie deprecation also has an impact, with marketers preparing for Google Chrome’s eventual ban, currently slated for 2024. The result is that marketers need to make sure that as well as taking a tactical approach to increasing conversion and ROAS at a channel level, they consider media mix modelling or econometrics (read Grace Kite in Marketing Week). This may be expensive and require data science expertise, but will provide a better indication of what works for the brand longer term.

As Les Binet, writes, “The rise of attribution is one of the reasons why marketing has become so short-term, annoying and ineffective.” Binet comments that Facebook and Google are pivoting away from attribution modelling towards econometrics for evaluating effectiveness.

1.2Making time for creativity

Amongst leaders, a lack of time to be creative ranked third (behind technology integration and workflow issues) as a barrier to great CX. Amongst laggards it was the foremost barrier.

We know Binet and Field’s analysis of IPA data found that award-winning creative campaigns made a brand’s media budget go 10 to 12 times further. Both in media and in experiences, marketers need time enough to stop chasing their tail and find some focus.

2. Digital fatigue

Research by Twilio at the end of 2022 asked people, based on the previous 30 days, how they felt about this issue. Around 36% of consumers globally said they have experienced digital fatigue, which rises to greater levels for the younger generation – 47% of Generation Z.

There are a number of ways in which being online has become inexorably less serendipitous or more ‘noisy’ – behavioural advertising; algorithmic content feeds and ‘the filter bubble’; search engine UX in a world of SEO writing; cookie consent notices and other assorted pop-ups; the growth of ad networks and marketplaces; and the number of services that require users to create an account. And this is without mentioning the more pernicious side of social media such as disinformation and unrealistic standards.

According to the Twilio study, more than half of consumers (56%) in the research said they would stop doing business with a company after a poor interaction. How can marketers respond to this?

2.1The enduring value of CX

Though “‘experience’ is not a strategy,” (in the words of Nils Andersson Wimby, writing for Econsultancy) nor a quick route to differentiation, it can reduce price elasticity and increase conversion. And to those consumers who profess to suffering from digital fatigue, simplicity is the key to great CX. User researchers and UX designers have long been familiar with the principle of ‘don’t make me think’.

Understanding how your investment into customer experience contributes to customer lifetime value is pertinent to the ‘long vs. short’ debate.

Stuart McMillan, ecommerce consultant and friend of Econsultancy, comments:

“I think next year is going to have a lot of margin challenges, but I think it would be foolish to cut back on the customer experience because of that.

“…But of course, you do need to know the profit impact of the customer experience, but just think about that profit over the customer lifetime. Short termism typically only sends businesses in one direction. Good customer experience doesn’t always have to be expensive, however it invariably is when the wrong KPIs are in place or teams are poorly led.”

At Econsultancy Live last November, we heard Claire Hazle, Group Technology Director, Digital and Experience at Legal and General, expound the benefits of “a focused discovery approach” that can deliver value for customers and the business. A small, core team is responsible for looking at data such as customer ease scores and call centre insight, and then using product thinking to deliver operational efficiency and better CX. This team mapped the customer journey through the login process, and made improvements that reduced failure demand from 4.2 customer calls per 100 logins in 2020, to 0.71 calls per 100 logins in 2022.

This sort of work is nothing new, but having support from management for this approach will be invaluable in 2023.

2.2Retreat to the real world

3. A moment of truth for owned data

3.1Adtech repositions for first-party data

We talked about the shift to first-party data this time last year in Econsultancy’s 2022 predictions. The whole marketing industry has been talking about it, because the writing has been on the wall for some time as we await Chrome’s deprecation of third party cookies, continue to gauge the impact of Apple’s ATT framework, and witness the EU clampdown on the collection of behavioural data without transparency.

Adtech’s focus on privacy has been years in the making, but it’s still startling to see how thick and fast the first-party data solutions (and repositioning efforts) are arriving.

Here’s some that have caught the eye just this month:

• The Trade Desk announced Galileo — a new approach for advertiser first-party data activation, which will “unlock that data in a privacy-conscious manner to find new customers that share similar characteristics”. Galileo allows for integrations with CRM and CDP platforms, as well as data clean rooms, and matches audiences using Unified ID 2.0 (UID2), an identity solution pioneered by The Trade Desk and its data and publishing partners, and which Paramount has this month adopted across its streaming channels.
• Shopify Audiences can now connect with a Google Ads account, allowing merchants to “generate multiple, objective-based audiences using your store’s specific customer data”.
• Amazon has recently announced an API and user interface that allows customers who advertise with Amazon Ads to easily upload first-party signals directly from AWS into Amazon Marketing Cloud (the tech company’s clean room and measurement solution).

Data management platforms have been adapting to the post-cookie landscape by focusing on first-party publisher IDs. For example, reading a newly published LiveRamp report on addressability, the message is loud and clear in the chapter titles, which include: ‘Privacy, Personalisation and Performance in a Post-Cookie World’, ‘Future-proofing Addressability with First-Party Data’, and ‘How Partnerships Make People-Based Marketing Possible’.

In the report, Boots Omni-Media Director Ollie Shayer is quoted, saying “…We’ve basically spent the last 12 months connecting to media partners through different identity spaces, whether that’s our integration into walled gardens or testing with different forms of identifiers on the open web.”

For marketers, the name of the game is aggregating their first-party data, making it accessible and ready to activate to drive performance.

3.2Data and analytics skills at a premium

This was reflected in our Future of Marketing survey: 64% of marketers reported that they would be increasing their spending on data and insight capabilities, making these the number one spending priority for marketers.

Last year, Marketing Week’s Career and Salary Survey recognised that data and analytics skills were most in demand. And Chiefmartec.com’s Scott Brinker wrote about data-ops ecosystems, which allow marketing teams to benefit from customer data contributed by other teams such as product, distribution and customer support. Brinker called this “a bounty of behavioral insights and “marketable moments”,” with data aggregation platforms such as Snowflake and Databricks vying to take on the role of bringing together siloed data.

The DataOps Ecosystem, as visualised by Chiefmartec.com. Image: Chiefmartec

3.3Focus on CRM and loyalty

As Stuart McMillan said in Econsultancy’s ecommerce predictions for 2023, “I don’t think it has ever been more vital for businesses to look after their owned data as well as possible. That might not mean a new CRM program, but at the very least they should be conducting an audit of what they have and have a data strategy.”

This ongoing imperative to nurture owned data is perhaps most eloquently illustrated by some latest changes in leadership in retail. Julia Waldow, writing for Modern Retail, highlights how big apparel brands increasingly need direct-to-consumer expertise, and are seeking leaders with digital experience, during a tough time for the category. A notable example is Under Armour’s incoming CEO Stephanie Linnartz, who came from Marriott, a business and sector with a big focus on loyalty and customer relationships.

4. The augmented and empowered marketing team

The so-called ‘war for talent’ was one of Econsultancy’s key trends for last year. Now, faced with the current economic situation, we will likely see some cooling of the overheated hiring market.

Just as we saw with the Covid-19 pandemic, as the cost of living crisis begins to bite, many organisations will respond by battening down the financial hatches, which will translate into either a pausing or reduction in total hiring activity. In a perfect storm, this will coincide with increased competition for each consumer pound.

This will mean organisations’ focus will shift to getting more from less. This will have two major consequences:

• automation will come the fore
• an increased emphasis on untapped internal talent

4.1More from less: automation and generative AI

Scaling automation not only reduces costs, but improves pace and resiliency. For instance, UPS has used AI and predictive analytics to reduce their carbon footprint, delivery more reliably and cope better with shifting demand. This programme has also reportedly saved UPS an estimated $300 million in costs.

Importantly, automation frees up humans to do non rote tasks. Something that will become increasingly important as the pressure mounts to get more from the same size, or potentially smaller, teams. Contradictory to expectations, this means automation actually has a role to play in re-humanising work.

Walmart is investing in technologies that free up human employees to minimise the time they spend on monotonous and repetitive tasks, like checking inventory on the shelf or packing orders, allowing staff to spend more time to elements of the job for which they are uniquely and humanely qualified for. This has had a notable impact on employee satisfaction. According to HBR, over the last four years, the company has experienced significantly lower rate of staff churn vs. the industry norm.

Though the immediate motivation for automation may be to reduce costs and the demand on talent, it is also about what these technologies make possible. Which brings us, rather neatly, on to the biggest technology story of the end of 2022.

Augmenting marketing with generative AI

Products like OpenAI’s ChatGPT are taking technology into realms once thought to be reserved for humans – writing code, drafting articles, or homework (the New York City education department has blocked access on its networks), and rough song lyrics.

In the words of ChatGPT itself, as prompted by McKinsey & Company: “The rise of generative AI has the potential to be a major game-changer for businesses.”

For those bitten by the metaverse hype and its sinking (though perhaps not forever) into the deep trough of disillusionment, the key difference with generative AI is that use cases abound.

In 2021, Econsultancy founder Ashley Friedlein highlighted the idea of ‘The Augmented Marketer’, powered by a whole suite of AI-powered SaaS tools. The advances made in generative AI in the past two years mean that the marketer is easily able to draft or iterate some copy or imagery when short on time or resource. These models put powerful capabilities into the hands of non-technical users- including marketers.

ChatGPT applications already exist for crafting personalised marketing, social media, summarise meeting takeaways and write technical sales content. And in a move that could eventually change how more than a billion people write emails or create presentations, Microsoft has extended its partnership with OpenAI, stating it will “deploy OpenAI’s models across our consumer and enterprise products and introduce new categories of digital experiences built on OpenAI’s technology”.

Rex Woodbury, partner at Index Ventures, writes about generative AI “lowering barriers to creation”. Just as TikTok introduced “no-code-like” tools that made video creation more accessible than it had been via YouTube, now AI companies can take that a step further and take away the need to shoot. Woodbury highlights Runway, a text-to-video generator that has been used by CBS and New Balance amongst others.

The excitement is warranted. But there are still key issues to be debated this year around copyright, accuracy and privacy – if these can be worked out, generative AI has the potential to change the day-to-day work of the marketer.

4.2Renegotiating work

We are living through one of the greatest shake-ups in work norms since the office became a part of the work landscape back in the 18th century.

The adoption of remote and hybrid working is reshaping our cities as well as how and where we live and work. As of mid-last year, more than half of US office space in major cities remained empty.

In terms of where we live, the statistics are equally stark. In the United States, adults have consistently been buying homes that were an average of 10-15 miles from their last residence. In 2022 this distance jumped to an average of 50 miles – demonstrating that people are less shackled to commute distances as a result of remote and hybrid work.

In the face of challenging economic conditions, the removal (or at least reduction) of expensive office leases from organisational P&L (profit and loss) is a hard thing to argue against, meaning we are unlikely to see the end of hybrid working anytime soon.

Alongside flexible working, we are seeing a renegotiation of the relationship between employer and employee, with 65% of employees reconsidering the role that work plays within their lives. With people increasingly looking for work that has meaning, matches their values, offers connection, and flexibility – both in terms of location but also the rhythms of work – and, importantly, supports their growth.

Though the Topic of talent is often dominated by hiring, it is worth remembering that it is only one part of creating an effective team. Learning opportunities and the development of existing employees is also essential.

According to research from Bain, the fastest growing companies are often also more likely taking this internal talent first approach, seeking out and capitalising on the underutilised potential of current employees, and offering opportunities for growth across the organisational hierarchy. They are often also doing this in a way that is far more tailored to the unique needs and strengths of each individual team member.

The same research shows that incumbents often cite a lack of talent as biggest barrier to progress —a trait that defines their fast growing competitors.

We know from swathes of research that staff retention is much higher when employees have internal mobility, with opportunities for employees to fill their skills gaps to make their next internal move a key lever in this. This all means that those who actively invest in tapping into the value of internal talent through upskilling and development – in a way that suits this new hybrid work environment – will pull ahead.

They will be better equipped to respond to an age characterised by disruption and crises, to find efficiencies, and to capitalise on emerging opportunities and technologies as we move through 2023 and beyond.

The MarketWatch News Department was not involved in the creation of this content.

Jan 24, 2023 (Heraldkeepers) -- New Jersey, United State – The global Digital Rights Management (DRM) Market report 2023-2030 Industries are expected to develop at the greatest rate of CAGR during the next seven years. Regional estimates and trend analysis of major market players will help you make your business decision. The market analysis also discusses new product developments, cost, revenue, gross margin, market size, share, and projected growth in addition to upcoming market strategies used by top competitors. The report is designed to provide a 360-degree view of the Digital Rights Management (DRM) market fully analysed report of Market Overview, Industry Development, Market Maturity, Value Chain Analysis. Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets. Company profiling with detailed strategies, financials, and latest developments.

The MarketWatch News Department was not involved in the creation of this content.

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