The contemporary corporate workplace as we see it, faced a huge challenge last year in terms of economic and financial fluctuations, job losses and automation (posing a threat to several jobs) among others. The grind has continued for the first half of this year as well, making it a tough but vital time for HR departments at large. HR teams are on their toes worldwide and the fundamentals of human resource management are being re-mapped in order to scale up company advantages in a highly cut-throat and competitive arena.
Here are some of the top HR trends that most workplaces should observe this year –
Talent Acquisition & its Challenges-
Automation is steadily gaining ground and is a major cause of anxiety for most employees in service based industries and Indian corporates. As more and more jobs get automated, talent acquisition will naturally evolve into a process where more specific skill sets will get hired. Retaining this talent will also require continual monitoring and efforts from HR teams. HR teams may also have to consider related industries for finding key talent.
Several organizations believe in periodically training and upgrading their employees but there will now be a major shift of this responsibility. Employees will have to take the responsibility of keeping themselves relevant. HR departments will have to prioritize people who wish to learn and upgrade their skills. Employees will have to keep renewing their knowledge and domain skills every few years in the current scenario.
Millennials are now coming into the contemporary workforce in bigger numbers and HR departments will have to make use of analytics and other digital tools for understanding the requirements of employees with a higher level of customization in terms of the approach and the solutions provided through new platforms and mobile technologies. There will be increasing use of mobile-friendly communication platforms along with continual feedback and monitoring, performance management tools, more automated processes, chatbots and lots more.
Demographic diversity is passé according to HR experts. Rather, there will be a more structured approach towards diversity and companies will look at deploying thought diversity as the biggest core aspect for overall workforce diversity. The full potential of employees have to be tapped by encouraging every individual’s unique perspective and thought processes. A diverse workforce will have several freelancers working in tandem with full-timer employees across genders and ages. HR will have to step up the game to adapt to this new scenario.
Performance Monitoring & Management-
Year-end employee rankings, performance-based ratings and reviews will be outdated concepts soon as per indications. There will be a continual and meaningful dialogue maintained between the managers and their employees, clients and also the HR team. This will cover each and every aspect of the employee’s overall lifecycle in the organization right from his/her work hours, performance reviews, reviews from peers and the managers and so on. This will be a more holistic process.
As per latest reports, employees often complain about lack of privacy and concentration. Organizations will steadily have to offer a mixture of structured, closed and open spaces for employees. Workplaces will include pop-up spaces, homes of employees and so on. There will be several such innovations backed by the boost in infrastructure and cloud-based professional solutions.
Data is the King-
Companies will steadily depend even more on technology and each step of an employee in any organization will be recorded with ease. The data with the HR team will not just include the remuneration and joining details but also performance and other aspects. For example, if an employee does well in 5 out of 7 major steps for a particular job process, the company may then offer training for the remaining two steps. Data analytics will be a major thing for HR teams for finding out the reasons behind the loss of clients and attrition along with taking measures to solve these issues.
There will be higher digitization along with augmented reality, artificial intelligence and even robots at contemporary workplaces in the years to come. It is here that HR teams have to focus on data analysis and other technological advancements to come up with invaluable insights on employee acquisition, management and retention. Predictive analytics will foster improved HR decisions over a span of time. HR teams have to evolve and upgrade since constant and productive change is the need of the hour!