Today, HR is facing consistent challenges, not just in terms of keeping pace with new digital innovations, but also in terms of managing the aspirations of a newer and younger additions to the workforce. The importance of a positive work culture, adoption of best practices in HR, developing a strategic approach to address current and emerging challenges, amongst others, have never been more critical for HR managers. The year 2019 is coming to a close, and this year has seen some exciting trends in the field of HR. Let’s take a look at these trends and try to comprehend what the future holds.
Cost-effective talent management
To begin with, we’ve witnessed the emergence of a trend wherein organizations attributed a specific median or range of compensation for every role and evaluate an employee’s productivity and merit on this basis. If an employee progresses over the years and their compensation crosses the median or range, the organization then considers role enhancement and role enlargement, which means increasing the employee’s portfolio, or helping them develop new skill-sets by assigning new roles to them. This helps maintain a cost-efficient talent base and even promotes an employee to consistently grow.
Reskilling over recruiting
Reskilling has been another industry-trend this year. It has been observed that many companies chose to reskill their existing employees instead of recruiting resources from the industry. Mid-level vacancies were offered to existing employees, fostering a culture of leadership development and positive employer branding.
Further, to align with the advent and popularity of machine learning, big data, analytics, etc., companies have started to create a new division that caters specifically to these needs. Alongside this, endeavors were also made to train one member in every department in these skill sets. This is primarily being done to encourage analytics-based decision-making and reduce future redundancy in the role. Training employees in these critical skills will help in making them more productive and ensuring their continued contribution to the organization.
Rising use of chatbots
Another fast-developing trend this year has been the use of chatbots. Companies are incorporating employee chatbots to address specific queries related to operational aspects, such as payroll, attendance, ID cards, etc. Chatbots have been in use earlier for customer servicing, IT support, and profile assessment as well; however, using them to aid employees with the onboarding process is a welcome move. This is particularly useful for new employees, as it is an effective & convenient way of enabling them to understand the organization's ecosystem. This approach would also be relevant for queries from existing employees.
With these trends and emerging practices, it is evident that HR plays a vital role in making the future of the existing resource ready. The HR function is no longer limited to merely ensuring performance efficiency and helping inculcate skills like problem-solving and decision making. Today’s dynamic landscape demands HR managers to prioritize job analysis and design, apart from bringing in a proficient code of ethics and ensuring employee performance & productivity.