The future of work is here, and HR teams are driving the changes that are helping organizations adapt. Digital transformation has impacted every industry and the way they interact with their customers, but it has also significantly influenced everyday workplace.
Automation has hugely changed the jobs that are needed to run a business. In a recent survey, it was found that 40% of organizations have created new positions such as data analysts to their workforce. Another 35% expect to do the same in the next five years.(1) The increased use of tech and AI has also impacted the kinds of skills employees need to be successful. The primary use of AI is to streamline processes. This has led to an increase in jobs that require people-oriented skills such as leadership development and customer service.
In a recent survey, 93% of employers said that soft skills are either an essential or very important factor in hiring decisions. (2) LinkedIn also reported that 59% of U.S. hiring managers believe it’s difficult to find candidates with the right soft skills. (3)
What employers are looking for in potential employees is not the only thing that has changed. What employees want from their employers has also shifted. Employees want to learn more at work. In a recent article by Forbes, it was mentioned that the workforce of the future is looking for opportunities at organizations that will help them grow their skills.
Millennials are now the largest group of individuals in the current workforce and although they still value compensation as a leading motivator, researches have suggested that opportunities for learning and development have become a huge factor they consider when looking for work. The millennial generation of workforce is really intuitive and anything that hinders their growth, they prefer to detach themselves from that entity.
How Can HR Teams Guide Their Organizations Through These Changes?
It starts with HR transformation. Much like other jobs and industries, HR professionals have been impacted by the change in technology. Artificial Intelligence (AI), Chatbots and Analytics have taken over much of the processes HR teams would traditionally handle. Today their roles are shifting, and HR functions are beginning to focus more on people and human capital transformation.
Many human resource teams are embracing technology and beginning to use the data they have collected to help their organizations create better employee experiences. This data helps them to determine the best ways to attract new talent and boost their employee retention rates.
Many global business leaders are working with human resources to develop better HR strategies that will help them increase their revenue and lead to better business outcomes. IBM recently created and launched an employee retention program that was led by members of both their HR and data analytics departments. The program has now saved IBM over $300 million in recruiting and hiring costs.(5)
HR teams are also helping organizations attract new talent by making necessary changes in job roles and descriptions. The requirements and responsibilities of different positions across different industries have changed. HR operations now include changing job roles and descriptions to better attract top talent. Employees are looking for jobs where they will have flexibility and scope for growth. Creating these opportunities has become increasingly important as the gig economy and the remote workforce continues to grow.
The contribution of talent management teams is changing rapidly as the modern workforce has varied expectations from their job roles. Historically, it was primarily dependent on the responsibilities associated with the role, but has significantly evolved towards learning and development opportunities. HR teams are playing an advisory role by using analytics to help their organizations create strategies to attract and create new talent. Also, with the increasing impact of AI and Chatbots, human resource professionals have the time and ability to focus on creating better employee experiences. In this eBook – Timing is Everything – we have identified the different stages of employees’ learning curve to accelerate their performance and focused on preventing any stagnation or decline in their performance cycle.