Future leaders will have to deal with internal complexities as much as they do with external complexities
Analytics will begin to play a larger role. Some organizations are already using analytics to predict who will quit the whole impetus on big data and the ability to understand random data will allow us the ability to predict who will click, i.e. create far more evolved potential identification analytics.
All employees being Full Time Employees (FTEs) will be a gone phenomenon in the future workplace. Companies will hire a combination of FTEs, part-time employees, some teams coming together on a project basis and even outsource some work. Organizations will have a staffing strategy that will include flexible roles and FTEs. And the use of analytics and better predictability methods will enable HR directors and CEOs to decide on the mix of talent pools.
Talent acquisition will become a specialist area – more companies are investing on building talent capability and will go out and search on their own as opposed to having a hiring person who will issue a mandate to a search firm. There are going to be more multi-cultural workplaces; talent migration from the West to the East is a reality today. The Indian Consulates in Germany, France, USA and even China have seen a 100 percent increase in the number of Indian work Visas they have issued in the past 3 years. This will require organizations to explore how they structure salaries for these expatriate employees as well as need leaders to prepare themselves to work with multi-cultural teams. This, in addition to the entry of milennials into organizations. Thus, future leaders will have to deal with internal complexities as much as they do with external complexities.
Diversity will need to be understood at a more fundamental level and a critical change that the new workplace will demand is to respect diversity of thought, regardless of who represents that thought. The millennials want their opinion to be heard and respected; so, the talent engagement equation will need to see change in its approach.
The entry of a more contingent and independent (millenial) talent pool into workplaces will see companies borrowing the concept of self-managed work-teams out of manufacturing. And applying this into white collared roles which are going to be a powerful process and wave of the future of talent management.