Thanks to the introduction of the gender pay gap reporting and the various other factors that affect individual organizations, 2018 was a busy year for HR teams everywhere. In fact, the HR industry has been undergoing a major innovative change over the last five years. With that said, 2019 is shaping up to be one of the most transformative years yet in the HR industry. The key is to understand and embrace these trends.
Here are the latest HR trends that you want to know about and get onboard with.
1. Increase in experimentation with artificial intelligence
An increasing number of companies are showing interest in experimenting with artificial intelligence (AI). Traditionally, the day-to-day activities of HR are highly resource-intensive, including various tasks, like payroll, benefits, hiring, offboarding and compliance management. But this is quickly changing as HR departments are starting to adopt automation and robotics to streamline these operations and enhance their contribution to overall business goals.
Research suggests that the HR domain has many transactional activities that are perfect for robotic process automation (RPA). The idea is that these processes will free up a lot of the HR employees time to focus on more strategic and innovative centric functions, like retention and policy implementation.
2. Workplace planning and optimization
There is an increased understanding of the concept that the “return on investment is much better if you grow your own talent.” This means that we should expect to see more organizations using their existing workforces in an agile way. In other words, a focus on hiring from within and thus growing retention rates.
There is an increased amount of effort being put in by companies to adequately plan their human resources as they recognize the effect this has on ensuring a quick response to company needs. By recruiting from within (bench utilization), companies can easily match existing skills with demands, and thereby eliminate the need for and long process involved in external recruitment.
3. Payroll management
Technology will continue to affect many areas of business, but one of the more significant is the impact it will have on payroll management. Basic calculations and processes like tax deduction and benefits will be fully automated, ensuring that there is no room for error.
As technology advances, payroll is set to become a more seamless process. Cloud computing, which allows users to access data on any device in any location with an internet connection, is also expected to become increasingly popular.
4. Learning and development
With an increased focus on creating a digital environment, there is expected to be a massive boost in learning and development. Training will be conducted digitally, and technology will transform the way that employees engage with learning and development using AI solutions and AR solutions.
Since businesses are becoming more and more technologically advanced, employees need to keep up with these digital changes. This is why learning and development is such an important factor. Companies need to train their employees on how to utilize new technology to their advantage.
5. Talent Management
While not a new trend, businesses are becoming increasingly aware of how important an employee-first approach is. Employees form the foundation of any business which is why an increased focus is being put on investing in quality talent, but more importantly, supporting the personal and professional development of employees.
But, the most significant change anticipated in this area is related to performance ratings. The traditional process is likely to be replaced by dynamic goal-setting, continuous performance check-ins, and crowdsourced feedback. You can check out Mark The Job for innovative and relevant performance review processes.
6. Recruitment experiences
Expect the whole recruitment process to be digitally altered. Everything from CV’s to interviews is set to become digital. The goal is for candidates to have a hassle-free candidate experience.
7. Insight into the post-digital era
As of 2019, digital technology is a strategic priority for every business. But, not too long ago, being ahead in the world of digital technology was a serious competitive advantage for any business. If your business was ahead in the digital world, you were just about guaranteed success. Now, we are too far from a time where digital-era technology will be expected from every company. Essentially, the digital playing field will eventually even out.
This means that companies need to start looking for new ways to stand out. They won’t be able to rely on their “digital advantage” any longer. We refer to this as the post-digital era. This will be a world in which each consumer, employee, and business partner will have their own reality, and each moment will represent an opportunity for companies to play a role in shaping it. The key to success will be to deliver not only personalized, but also individualized experiences that meet the digitally mature expectations.