Technology and communication tools have not just revamped the way modern corporate structures function but have also significantly influenced employee behavior. Over the past few years, ease of communication has further aided the transition towards a ‘gig economy’, allowing remote access and flexibility in working. Employees today are increasingly seeking opportunities for independent or contractual employment pertaining to their areas of interest and schedules. While this evolution in the workplace culture has invariably led to a growth in the pool of applicants, it has also increased the attrition rate for companies, with several employees preferring ‘contingent’ jobs or ‘alternative work arrangements’.
While we adjust to these new workplace dynamics, it essential for Human Resource managers to stay abreast of the changes to engage remote teams and encourage comprehensive growth of all employees. Keeping the same in mind, here are the top five trends that we believe will have the highest impact on HR’s agenda in 2019:
Employee engagement: Better engagement leads to better productivity. Therefore, employee engagement continues to be critical in the upcoming year. Applying principles of design thinking to the topic has led to the emergence of the term ‘employee experience’. A growing multi-generational and diverse workforce, along with the ‘gig’ economy has pushed several organizations to find creative and customized ways to create stickiness amongst employees and design a more engaging culture.
Artificial Intelligence: While we have been talking about Artificial Intelligence and the Internet of Things for a while now, next year will witness a deeper invasion of AI in all spheres of HR – starting from recruiting to learning, employee experience, and talent management. AI consumes massive amounts of data, applies algorithms to find patterns, and uses these findings to draw correlations, make predictions and assist with decision making. Hence, we will observe a large amount of data and information related to employees being generated and HR teams will need to be upskilled and reskilled to understand and interpret the insights generated by this vast stream of information and use it in relevant ways to ultimately improve employee experience.
Enhancing People-Manager Capability: Generation X has higher expectations from their managers when compared to the previous generations. As a result, enhancing capability of people managers will become an area of significant priority for HR in the upcoming year. We also need to invest in people managers to become talent magnets that can not only keep their teams motivated and striving for better performance, but also attract external talent from the industry.
Rise of the virtual workplace: The ability to work from anywhere and staying connected through smartphones, tablets and other mobile devices has created a virtual workplace.
Furthermore, with flexi-contracts and part-time working becoming the go-to-choice for the millennial generation, virtual workplace and collaboration tools need to be deployed more frequently across the organization.
Ring-fence critical leaders: The leadership deficit and competition for premium leadership talent isn’t going anywhere. As the market becomes more competitive, being able to ring-fence critical leaders in a blended approach remains as important as it always was. Beyond monetary compensation, it is crucial to provide growth opportunities and recognition to your top talent to ensure their longevity with your company.
These trends have incredible implications on the way our industry is set to function over the next few years and we’re only just beginning to see their impact on our workplaces. Organizations that want to succeed and grow must adopt these new technologies and make swift changes in their organizational culture. It is also important to ensure that these changes are carried over to procurement and HR processes as well to create the foundations of a truly great workplace that is fit for future.