HR in 2028: The agenda topped by Millennials' challenge
Human resources face new challenges in digital era as millennials revolutionise workspace
A decade ago, HR was only about recruitment a decade later, HR is a strategic partner. A decade ago the processes for HR were fairly simple. A decade later HR is integrating artificial intelligence, automation, data analytics and a lot of other functions in the same processes. This explains how HR is evolving over the time. So, where do we see HR another decade later? Let’s look at a few predictions and address it as HR 2.1.
To begin with, HR will also be more social as online communications and collaborations will be a huge HR tool in future.
The coming era will demand work-life balance. This is considering that by 2020, 75% of the employees will be the millennials, who will bring in new ways of working and values for work-life balance. Not only the HR would have to adapt to them but also learn the how to retain this talent base.
“All human resources-related processes - from sourcing to recruitment and from appraisals to employee benefits - will increasingly be digitally-driven. Human resources professionals will have to upskill rapidly so that they understand and absorb the latest digital tools and trends. Social media as we know today may become a thing of the past over the next few years, but the core concept will remain and take on a far more evolved avatar. Even today, social media accounts are being scanned to arrive at a holistic prospective employee profile. Until the current crop of social media platforms become obsolete, they will continue to serve as important selection tools for HR professionals. As for employees, companies will look for individuals who display alignment with the evolving social mores. A spirit of genuine inclusiveness will become a USP, and those who evince regressive mindsets on this front will find increasingly themselves off the final selection list or even phased out. Workplace morality - both in terms of acceptable attitudes towards the opposite sex as well as in business ethics - will become very important criteria for selection and retention,” says Sukhdeep Aurora, chief people officer, ANAROCK Property.
Online training will also be a huge add on in future. Recent research from Towards Maturity and CIPD suggests that online learning reduces training time by 27% and cost by 18% while increasing productivity by 14%. This increased ROI will enable learning and development (L&D) departments to do more with their budgets and have a bigger impact at work.
Nishith Upadhyaya, head - advisory services, SHRM, says, “Information will be more abundant, richer and more available to everyone. Work will be accomplished from anywhere, creating a truly global talent ecosystem. New media will enable increasingly seamless global and real-time communication, creating much faster ideation and product development, go-to-market strategies that are more diverse, and shorter product/strategy durations. Organisational reputation becomes a pivotal currency in customer and work markets, and can be enhanced or destroyed in real time.”
In a recent and a different survey done by the SHRM, HR professionals say that the three biggest challenges facing HR executives over the next 10 years will be - Retaining and rewarding the best employees, developing the next generation of corporate leaders, and creating a corporate culture that attracts the best employees.
This research also explores investment challenges, talent management tactics, evolvement of the workforce, and critical HR competencies and knowledge. We agree to that but we honestly also believe that HR has already created a strong base to handle these challenges with the right KRA structure, performance management system, training and development, talent acquisition strategy, succession planning, gender equality and other important processes already in place.
It is just a matter of time before HR has the advanced strategies to handle these challenges in place.
HR 2.1 predictions will soon start playing out and the best way to work with them is to be prepared in advance. So are you ready to evolve more and take advantage of all of these in your organisation?
By, Payal Sondhi
(The writer isassistant general manager, SILA)
DNA Money first published this article on 8th November, 2018.