For the longest time, the HR industry has been sidelined when it comes to discerning future trends. But as more and more organizations start adopting the latest digital technologies, the future of work is slowly starting to take shape.
The current global workforce is most fascinating as it features five generations at work together. This interesting mix of human resources is expected to greatly influence HR trends for 2020 as they work together with technological advancements and processes to drive business growth.
Let’s take a look at the major trends that HR departments should look forward to in the coming year.
The Advancement of AI
It is increasingly clear that as we approach 2020, artificial intelligence is being increasingly adopted across workplaces. There is ample research data to quantify that more than 40% of global companies have started incorporating AI into their HR management processes.
AI is expected to make its presence felt in several HR processes, from information collection, job hunting, employee/candidate search, and employee happiness quotient analysis to employee engagement and human experience drive.
With volatile economies affecting companies globally, organizations are slowly looking at adopting better HR practices to drive business. AI-powered solutions are showing great potential to simplify important HR processes such as recruitment, L&D, employee development, enhanced performance management and personalized employee experiences.
Using Data Analytics to Streamline HR Practices
HR networks and practices have always stored a goldmine of information. Companies are now looking at various possibilities for evaluating this storehouse of data using advanced data analytics. HR is expected to define new standards when it comes to practices of recruitment, workforce planning, employee development and performance, employee engagement and retention, all using the power of data analytics.
Advanced analytics will also help to identify patterns on talent development and performance management that will be crucial for HR to undertake better workforce planning, resulting in improved business productivity. HR will be able to undertake better resource management and development initiatives that can be objectively leveraged to strengthen recruitment and retention programs.
Emphasis on High Potential Talent Development
In 2020, HR teams are expected to continue to prioritize high-potential talent selection and development. As the global demand for high-skill talent with digital capabilities increases, companies will slowly gravitate towards technology solutions that will help them identify high-potential employees. HR teams will also be seen consciously shifting their approach towards identifying these employees, by moving away from guesswork to concentrate more on data-driven decisions. Organizations will start concentrating more on employee development plans using data analytics to improve employee productivity, reduce attrition rate and fill leadership pipeline with high-potential talent.
Employee Reskilling and Upskilling
As per a Frost & Sullivan report on Global Mega Trends that will effect businesses in 2020, megatrends such as intelligent and influential technologies and economic developments are expected to greatly impact future jobs. They will push employees and companies to consequently change and update the skills needed for the redefined jobs.
35% of the skills needed for jobs, regardless of the industry, are expected to change by 2020. The onus will fall on HR teams to plan and implement measurable efforts to drive their reskilling and upskilling initiatives and future-proof their workforce performance.
Apart from ensuring technical skills development, HR teams will also have to detect gaps in soft and behavioral skills to ensure their human resources are prepared for the future of work.
Implementing Learning and Development Initiatives to Optimize Leadership Pipeline
In 2020, HR departments across industries will continue to focus on Learning and Development (L&D) initiatives, backed by data-driven decision making. Enterprises will be working towards quantitatively ascertaining and proactively meeting the learning and mentoring needs of their workforce. Analytics and AI-enabled mentoring technologies will play a big role in achieving this.
Organizations are expected to embrace AI-driven mentoring programs to help connect the right mentors with the right employees. Long-term and continuous mentoring will replace day-long or week-long training programs to develop the leadership pipeline. Mentoring programs will be more contextual, targeted, secure, and private, while being available online, to cater to the mobile millennial workforce.
HR trends in 2020 are no longer a distant idea; they are a reality now! It’s time enterprise pulled up their socks to address how to stay abreast of the trends and restructure their HR initiatives.