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Global trends in the world of work are having a fundamental impact on how business executives and HR respond to the current and future human capital requirements. The following trends may fundamentally reshape the way we work as well as how the global workforce is sourced, organised and managed:
Technological advancements and social media
Technological advancements are transforming the nature of work and enabling the emergence of virtual work environments. In addition, there is a trend towards “self-service” in HR. A reliance on online systems and networking possibilities through social media have created a proliferation of business opportunities, as well as, enabled greater integration and flexibility thus allowing employees to create their own sense of purpose, fulfillment, engagement and work satisfaction.
Automation of knowledge work
Given the online availability of information, workforce demands have shifted from an emphasis on the qualifications of knowledge workers, towards an emphasis on cognitive potential, talent and leadership of employees.
The diverse and extended workforce
Workforce diversity is created by the migration of skilled and unskilled workers, immigration, refugees and asylum seekers. This raises the bar for knowledge transfer to newcomers and the cultural integration of diverse groups within organisations. Due to trends such as global partnership networks and outsourcing providers, the traditionally localised workforce is also becoming more remote. Similarly, an aging work force in developed countries, combined with the employment of younger generations such as the Millennials, pose new challenges to HR regarding strategies around onboarding, upskilling and the crafting of career paths.
Health and wellness
An increase in health-related challenges such as the global escalation of depression, diabetes and burnout require the implementation of health and wellness programmes to mitigate the economic impact of these issues.
Social and environmental responsibility
The expansion of global businesses require HR awareness and strategy for dealing with social and environmental issues. These may involve both new opportunities and the possibilities of legal penalties.
Information privacy and risk
IT security solutions, confidentiality of personal data and professionalism have become important.
Turbulent business environment
HR strategies need to accommodate for economic uncertainties and the volatility of markets by enabling the agility of an organisation rooted in talent and work ethics.
Decentralisation of industry functions
An awareness of the benefits of trust has resulted in the emergence of collaborative consumption guided by reputational scoring and rating. These developments in accommodation, transport, banking, and other industries are bound to contribute to an economy of trust.
Integration of work-related functions
While HR functions are increasingly taken over by frontline managers, HR is increasingly getting involved with IT, marketing and organisational strategy.
It is evident that the business world is in the midst of fundamental change. Therefore, it is vital to explore ways in which to create value for people within organisations, not only to make informed talent management decisions, but also to compete in the new global economy. This places great responsibility on the shoulders of HR and have resulted in a number of HR trends. Most important is that organisations invest in the effective attraction, selection, retention and development practices to enhance individual and organizational performance.
Cognadev can assist organisations with the aforesaid in multiple ways. Firstly our team of professionals have the expertise to support HR in redesigning and implementing HR strategies to address the above change requirements. Secondly, our team is able to design standardised processes for your organisation to identify and develop talent and to ensure integration into the organisation. Cognadev has the assessment tools to identify potential, inform issues of cultural fit and diversity management, value orientation and motivational drive as well as emotional adaptation. Our team can also assist you in designing and facilitating bespoke training solutions to address your needs in line with the HR trends discussed here. Should this have sparked some interest with you, contact Cognadev to discuss our product and service offering in more detail.