We’re almost through the midway of 2020. Moving forward into another year we will see a drastic shift in the HR industry reflecting the way we work.
Even through the transitional shift, businesses expect to have a dynamic workforce. Doesn’t this call for optimism in the industry?
Data analytics: transforming HR
With the help of data analytics, it has become much easier for HR and talent management to analyze employee-related issues to improve business outcomes and make a better data-driven decision. Simply said, data analytics in HR is referred to as the factor where analytics is applied to the human resources function or programs.
We often come across words like talent analytics, people analytics, or workforce analytics. But what do they all mean?
These are terms that can be used interchangeably, although these topics can be debatable.
However, HR analytics is more inclined toward having a broader perspective of data, while talent analytics and people analytics generally indicates people and their behavior toward their work. Whereas, the term workforce analytics is preferred by people only because of the advent of automating tasks with the help of robots, which slightly can be referred to as part of the workforce.
Here’s how data analytics helps the HR industry: –
• Reduce employee turnover
• Implement the best proven recruiting practices
• Increase workforce productivity
• Improve workforce planning and management
• Increase employee engagement
• Manage automated tasks to drive engagement and customer satisfaction
Continuous performance management
Developing one-year performance management is passé.
The growth of technologies drives the workforce to undergo a huge shift within the organization. This happens to improve employee engagement, achieve high productivity, and improve talent retention. Organizations are now investing hugely in Continuous Performance Management (CPM) tools to help minimize the workflow of empowering employees.
The traditional methods that companies previously followed are long gone, getting feedback at the end of the year causes harm to the employees’ morale. Most often, employees start losing interest in their work.
HR professionals must ensure there is continuous performance management happening frequently which improves employee productivity, receive timely mentoring of the employee, receive timely feedback, and coach for development opportunities.
AI in recruitment
By the end of 2020, AI-driven solutions predict to offer innovation beneficial in industries like healthcare, retail, manufacturing, banking, finance, and social media. Organizations are already using AI in recruitment. The present year will see the HR industry boom due to AI adoption.
Added advantages: –
• Offers faster screening process
• Hiring quality talent
• Saves time
Tools to improve employee engagement
This year seems to be fruitful ever since organizations started using engagement tools to improve workforce engagement, capture employee feedback, and employee opinions.
Surveys such as employee satisfaction surveys could be an ideal start in getting your employees engaged, and promote engagement.
Organizations are now more engaged in using tools and technologies to get through the competitive jobs market. Such tools will eventually help HR and talent management initiate the right plans in retaining the best talent.
Getting trained on the job
Continual learning is essential for every employee to advance in their careers. Besides training programs employees can also opt for HR training certification. This will not only improve their employable skills but will help them command advanced or higher job roles in the current organization or perhaps in another organization.
Ongoing reskilling commands for higher salary compensation. It is also seen that companies prefer candidates with certification programs rather than the candidates without a certification.
By the end of 2020, it is estimated that there will be multiple organizations who will be investing in AI, augmented and virtual reality, geofencing, gamification, and many other techniques.
Employee experience platform
2020 projects to be a year where core focus will be on employee experience platforms. We’re all living in an environment filled with the tremendous change taking place at a rapid speed. The skills you possess today may not be as great as it was a decade back.
With the rate at which we’re moving today, an employee expects more than just a handsome pay scale. Besides this, an employee also stresses on the work environment. Employees can now put up online reviews, state the nature of their work environment, growth opportunities, hierarchy, company culture, and work policies, etc.