As we enter a new decade, it is time to analyze the new trends that will dominate the field of HR in the coming year. The constant evolution in the industry creates the need for organizations to continually upgrade themselves to attract, motivate and retain employees and achieve business results. Some of the key trends as I envisage are –
Millennials In The Workspace
By 2020, 50% of the workspace will be millennials and by 2025 they will be contributing to 75% of the ecosystem. It will be key to design interventions that will address the career aspirations of this generation and also developing mechanisms to boost the morale of a multi-generational workforce. Few initiatives to cater to this audience would be – Evolved RnR programs, flexible work timings, opportunities to keep them continually motivated and engaged.
Gig Economy
With an increased shift towards personal priorities and wanting to do more in less time, the concept of self-employment, freelancing is steadily on a rise. Workplace practices are conventionally changing and evolving to more flexible work patterns. Hiring a wide range of experienced resources on a part-time basis will become the future of the office.
Work-Life Balance
Employees today strive for an environment that helps them balance their personal lives better and provides for their passions to be fulfilled along with the work commitments. The workplaces of the future have to create that excitement where employees are encouraged to be more passionate about their jobs thereby creating an enriched impact on their customers and business in the long run. The barrier between work and personal life is getting bleak over the years.
Organizations Going Social
Everyone is connected on the internet nowadays, it is going to be very crucial for organizations to establish a strong presence on social media platforms. Candidates nowadays follow a company’s social activity to enable them to make joining decisions. Employer Branding is the new paradigm of effective marketing and attracting potential employees and letting the industry know of a company’s presence.
Hiring Becoming A 24*7 Activity
Talent acquisition would no longer remain as an activity confined to spotting talent against mandates, but proactively engaging with prospective employees and building a connect round the year. Creating a proactive talent pipeline is gaining importance as this key activity can significantly reduce the time recruiters have to spend later to close critical positions. Usage of technology and AI-enabled software to determine the cultural fitment of candidates are gaining attention.
Ongoing Performance Management
The performance cycle is a crucial part of the employee life cycle and has seen the pragmatic shift in the way work is conducted. Activities like timely goal setting and regular reviews, ongoing performance feedback discussions, reward mechanisms have become more objective and transparent. The process is more comprehensive and ensures to provide long term clarity for addressing the current and future development needs. The role of the manager has evolved to that of a mentor/coach and wouldn’t any longer be transactional.
Employee Experience
Along with the focus on driving business outcomes, creating an employee-friendly workplace is gaining equal significance. Also, the involvement of diverse peer groups with common interests. These forums wouldn’t anymore be just HR driven and will have equal representation from business functions working in collaboration. Focus on titles and positions would reduce and contribution to work and value-adding individuals would gain significance.
Evidence-Based HR
There is an ample amount of data and analytics available for our consumption. However, we are yet to reach the maturity of utilizing this information for making strategic discussions. Data is the single source of truth for all HR interventions which are otherwise difficult to project on an ROI graph.
There will be a constant need to learn, unlearn and relearn along with staying updated with the latest industry trends. Upskilling oneself will be highly demanding in this paced work environment.
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