FUTURE OF HR
Future prediction is a difficult process we need to analyze past and current situation of doing business. There are different challenges in future of HR Four major factors are impacting and will continue to impact, organization and shaping the future of work.
It is clear that the world will become increasingly connected over the next 10 to 20 years as the flow of products, services, talent, and knowledge continues apace across developed and developing countries. To compete and survive, a growing number of companies will intensify their efforts to explore new market opportunities and develop business capabilities to take advantage of these markets, while continuing to grow in more established venues.
Implications for HR: Companies will increasingly depend on building organizational and employee agility rather than relying on periodic change initiatives. They will find it necessary to develop the capacity to attract, develop and retain topnotch talent in emerging markets
Technology enables employees at all levels to work virtually while easily collaborating and sharing ideas not only with each other but also with outsiders. Continued advancements in globalization and technology increasingly turn work into a 24/7 reality which blurs the lines between work and non-work lives and increases the pressures and stress on employees sometimes with unfortunate consequences for their physical and emotional well-being.
Implication for HR: In a world of increasingly advanced technologies, where the nature of work changes with great frequency, traditional approaches to filling jobs internally will give way to more systematic and decentralized approaches to matching talent to work and work to talent. As work is redefined and talent flow increase, new primarily online approaches to employee development will become necessary to ensure that requisite hard and soft skills are kept current.
New technology of data science has big impact on talent acquisition. We can easily find skilled workforce from Big data through data science by using data mining. Right man on right job on right time.
Greater access to information, combined with the spread of social media, encourages the development of a consumer mentality in which customers and clients feel empowered ro shape their own experiences while companies are forced to adapt by customizing their products, services and solutions. These experiences are increasingly being replicated inside organizations as employees – particularly younger employees – come to see “consumerization” and customization as guiding principles on which to base the employer-employee relationship.
Implications for HR: In this new model, employees expect a greater say in shaping the content of their assignments, goals, and even work environment when it comes to issues such as where and when to work companies will find it necessary to cut back on the number of one-size-fits-all policies and practices in their arsenals in favor of greater overall flexibility and, in particular, the capacity to be more responsive to employees individual needs and wants. Leaders and managers will find it necessary to improve their understanding of employees as individuals by developing deeper relationships with them and engaging them in genuine dialogue around work, goals, and processes, as well as more personal matters.
Most organizations currently have four generations in their workforce: traditionalists/greatest generation, baby boomers generation X and generation Y/ millennials- with some companies starting to see a fifth( generation Z- those born in 1997 and later). Although there are many similarities across generations and not all members of a given generation are the same, employers will see key differences across generations I term of working styles and approaches to collaboration communication, and decision making, as well as expectations regarding feedbacks, reward and the pace of promotions.
Implications for HR: Nearly all traditional HR practices are coming under scrutiny as companies find it particularly difficult to motivate young people and retain this talent long enough to recoup investments in their development. In broad terms many if not most, gen Ys feel entitled to jobs, projects, and experiences that are tailored in a wat that they find personally meaningful. As leaders and managers feel the pressure to individualize everything and to coach and mentor (and even to be reverse mentored), organizations will find that some leaders will and can adapt whereas others will not and cannot.1
1-(Health Wealth Career “The future of HR”)
The Future workplace: Building A consumer and digital HR organization
Today, almost every company is undergoing a digital transformation. Cloud and mobile computing, artificial intelligence, and increasing automation have created the potential to transform nearly every aspect of a business. A survey of CEOs conducted by Fortune asked whether they thought their company was a “technology company” and 67% of CEOs said yes.
The same can be said for forward looking HR departments like those at IBM and General Electric. HR leaders such as Diane Gherson at IBM, and Susan Peters at General Electric, are transforming HR to deliver an employee experience that is human centered, uses the latest digital technologies, and is personalized, compelling, and memorable.
According to Forreaster 47% percent of executives surveyed believe that by 2020, digital will have an impact on more than half their sales. We see how digital has transformed media, retail, transportation and education. Now it’s HR’s turn. Digital and consumer marketing are permeating new ways of recruiting, working, learning, and engaging employees.
Applying a consumer and digital lens is much more than just incorporating new solutions in HR. Being employee-centered and digital is about having a new mindset, plus a set of consumer-focused and technological skills to creating new HR solutions. Above all, it requires a belief in the power of leveraging the latest consumer technologies inside HR. This starts with how a company engages prospective new hires. Consider how Zulily an e-commerce company selling clothing, toys, and home products, invites candidates applying for a job on its social media team to submit an Instagram post that best represents themselves and what they would bring to the team. Or consider how MasterCard, BMO Financial Group, Cisco, and Silicon Valley Bank develop new HR solutions by conducting hackathons to co-create new ways forward with employees.2