Three key HR and hiring trends for 2020
As the technology landscape continues to transform, it is causing business realities to shift and new operating models to emerge. On one hand, deployment of intelligent technologies and widespread automation is expected to displace jobs, on the other, it will bring about the need for reskilling the workforce. In such a scenario, the success of an organization will be defined by the quality of its personnel and the unique skill set they possess.
While technological advances will make workflows efficient and organizational structures robust, there will be a growing need for personnel with Emotional Quotient (EQ), especially useful in fields such as sales and marketing. As the ‘human’ resource becomes the key contributing factor to the success of an organization, the war for talent will only heat up further with a skyrocketing demand for those with advanced skill sets. According to a research by TeamLease Services, India will see the creation of 1.15 million jobs in the first half of 2020.
In such a dynamic, competitive market, finding the right candidate with the desired skills and cultural values will emerge as a key challenge for all recruiters. In order to deal with the shortage of quality talent, the HR departments of India, Inc. will need to adapt themselves to this changing talent landscape. The year 2020 will see a significant shift in how employers will be looking to hire talent.
Let's take a quick look at the top 3 hiring trends we will see in 2020:
I – The use of Artificial Intelligence (AI) will result in increased automation
Over the years, the digital ecosystem in India has undergone a massive shift. While this has created plenty of jobs, it has also led to a widening gap between skills and requirements. Especially in the sales domain, it is often difficult to find future-ready talent. AI-powered hiring processes allow insights into profiles of candidates, hence allowing employers to find suitable candidates for the job role, make decisions based on data-driven insights and take measures to retain HiPot (High Potential) employees.
Thus, the use of AI will result in recruitment moving further towards automation, where the initial contact with the candidate as well as the first few levels of sourcing and screening will be taken over by automated platforms. This will not only reduce the paperwork required for each job role but will also provide timely tracking and communication. As a result, it will reduce the Turn-Around-Time (TAT) per candidate while delivering meaningful insights into the recruitment process.
II – Data-driven decision making will result in more personalized hiring
As systems and workflows become increasingly data-driven, businesses will leverage the potential of data analytics to gain incisive insights into targeted hiring as well as retention. The process will become more customized and personalized for the candidate. Tools integrated with Applicant Tracking System (ATS) and Recruitment Marketing Software (RMS) can be used to attract, engage, nurture and convert candidates into employees. Every candidate will then be treated as a unique resource for the organization and the customized ‘communication experience’ can enable a candidate-friendly recruitment process.
On the other hand, the candidates too will use all publicly available data to better understand the organization they are interested in and explore the job roles and growth opportunities before making their decisions. Social media will continue to play a great role in how recruiters and candidates communicate with each other.
III – Hiring candidates with multiple skillsets
According to the World Economic Forum, in the next 5 years, about 35% of the skills considered essential today will change. Since emerging technologies can lead to the displacement of jobs, it will be important for companies to recruit candidates that demonstrate the skills of adaptability and flexibility, which will help them maintain equilibrium in a dynamic environment. Additionally, as products, technologies and work patterns change, companies will be increasingly looking for skills, such as creativity, critical thinking, and problem-solving while screening candidates – skills that AI cannot deliver as yet. The demand for Emotional Intelligence is also likely to go up, while the need for skills, such as active listening, negotiating and quality control, will go down as AI, ML and analytics plough through miles of data to streamline and reduce decision making challenges.
With certain skillsets becoming redundant as a result of AI implementation and automation, candidates will need to be upskilled to keep pace with the changing work environment. Job roles will continue to become multi-dimensional and the industry will need to facilitate advance skilling of both new and existing employees.
As these trends dominate the HR landscape, the very nature of the workplace itself will undergo a change. Employers are cognizant of the fact that technology is turning work away from a structured style that tended to limit efficiency to one that is dynamic, fluid and integrated. This trend is being reflected in the workplace as well. We have already seen the grey institutionalized walls and cubicles give way to ergonomic workplaces defined by colour and open spaces. This trend will further segue into flexible and remote workspaces, especially as companies realize that employees need to spend less time on office routines and, therefore, get to focus more on their actual jobs. Employees will find better work-life integration in remote working and better workplace stress management in ergonomic workplaces, which will further foster greater productivity.
As the workforce becomes increasingly mobile powered by smart devices and geographical boundaries continue to fade, companies will become more flexible in their approach to recruitment, especially talent that has been skilled and groomed in-house to fill key roles. Retention will become the name of the game as companies continue to look for effective ways to keep employees on rolls for the launch haul.