HR TRENDS IN PRESENT AND NEAR FUTURE
We are fortunate to witness the fast-paced and ever-evolving digital world that is Trends are evolving and changing at all times. HR is no exception!
Let’s look at some trends that govern the HR sector in 2022 and beyond.
Best of both worlds- Hybrid mode
Work from home and the office. Both? Even so, is that possible? Will the intended work get completed on time?
Few people posed these queries prior to 2020. Businesses across the globe were impacted by COVID-19. The entire workplace shifted into an online mode. Research implied that efficiency and quality of the work improved significantly when employees worked remotely.
Post-COVID, many companies allowed employees to work from home while others chose a hybrid model in which an employee could work from home for a few days in the week and the office for the rest of the days. This work arrangement has gained much attention in the HR trends of 2022. Let’s see some of its characteristics:
- Partially remote is one of the ways out when you think about working in 2022 and is a hot favourite among firms. It is popular in firms that cannot transmit a few work operations due to hardware restrictions or safety issues. As a result, they devote some employees to work online, and others have to work on-site.
- Flexibility in remote timings or days is introduced so the employees can easily regulate their work patterns and can work both in-office or remotely as per their convenience.
- The popularity of co-working organizations is skyrocketing these days. Co-working organization is a space where people do not have a dedicated workstation. Instead, the employees or firms book a workspace before they want to work on-site. However, this is mostly temporary.
Through these options, companies are implementing remote-friendly strategies and enhancing employee well-being. Moreover, remote working has let organizations cut short on infrastructure and real estate costs. Instead of long-term leases, companies prefer to invest in the spaces for their headquarters at premier locations.
Experiences of the Employees- At present times
An HR needs to keep in mind the experiences of the employees of the firm. They need to provide apt solutions to the problems the employees are facing. Post-COVID-19, the concept of employee experience is shifted to life experience, which is not restricted to the workspace, workplace or physical meeting with the team.
The current and potential employees are seeking a reliable, trustworthy and supportive corporate environment. Thus, the companies’ main concern post-COVID is creating outstanding leadership that can build the expected trust. Moreover, companies are reconsidering the engagement methods, employee experiences, and perks. The companies’ primary focus is the well-being of employees and the perks of simplifying their daily tasks.
In such difficult times, mental health and well-being are given importance. Employees are on the look for better work culture and environment. Thus the HR trends have shifted the focus towards employee’s betterment and well-being. They prefer paid vacations, medical insurance, counselling sessions, teamwork-building camps, and assistance or help workshops. Secondly, the firms, especially post-COVID, know the benefits of conducting business and shifting the workspace online. With work, even the training and HR activities have shifted online. The companies have started giving importance to online mental and mindful sessions, virtual get-togethers, physical health sessions and more.
Lastly, the most crucial trend in the HR sector is that we would see a focus on benefits packages for life experiences that may not be directly connected with the Company. A great start to this was probably back in 2022 when food and groceries were auto-delivered to the employee’s residence, so they did not need to cook. This leads to the employees’ assurance that the Company supports them and cares for their overall well-being. Another example is, Chanty, a company involved in developing a collaboration tool that gave a $100 bonus to each employee for partying with family and buying them gifts.
Upskill and Upgrade Employees – Mantras for better output
As time goes on, countless advancements take place. Skills that were formerly regarded as exceptional may no longer be relevant. Employee upskilling is necessary due to technological improvements and constantly evolving qualities. According to research, the need for upskilling increased to 38% in 2020. It’s possible that the workers employed five years ago don’t have the modernized skills required right now. Thus instead of employing new candidates, it is more cost-effective to maintain the loyalty of current workers.
The COVID years were challenging, necessitating salary reductions, a few staff layoffs, and the giving of unforeseen sick days. Even when the majority of obstacles have already been overcome, one should still be prepared for anything. Companies must upskill their workforce if they want to thrive in this cutthroat environment. As a result, several enormous businesses, like PwC, have launched initiatives to upgrade their staff’s skills.
Focus on Analytics and Data
HRs at present times must develop a significant interest in planning their strategies based on data and analytics only. However, research shows only 34 % of HR take the help of data for planning strategies and making decisions. In the year 2022, the trends show that HR should plan to rely more on data analysis.
HR needs to look out for these agents of employee analytics which involve:
- To stay relevant in this competitive business world, HR needs to develop a mind focused on data-driven materials where they could extract and understand the current workforce and the future demands, encourage a diverse workforce and get an idea about the gaps formed. The role of the CHRO is to look after such matters; thus, this will play an essential role in the upcoming years.
- Chatbots and AI screening tools have revolutionized the world in general. From healthcare to finance, there is not a single sector left where chatbots have not entered. With the help of these automated tools, the employee will feel engaged and work better.
- HR’s job includes planning a blueprint of how the firm would look in the near future. To do this, they need the help of data and analytics that would help them to plan strategies and goals for the upcoming days. This would help HR to understand the market expertise requirement and, in a way, be financially rewarding.
DEI and Workforce
Earlier racism, sexism, and casteism were barriers that caused the downfall of many firms’ market image. Nowadays, incorporating a DEI theme in your firm is the best way how you can assure minorities, women, and people of colour that they feel included and appreciated. The world is diverse, and so are business and market spaces. Firms must understand the results of diversity on business research or developments, team morality, and profitability. The higher the diversity, the better the firm functions.
Thus HR is required to look for these attributes in 2022:
Update the old hiring notions: There are instances where certain firms previously tried not to hire people from specific categories, even if not on paper. However, it is time to do away with those old hiring notions. Instead, HRs should ensure that the team they are hiring is diverse. Diversity also means better creative ideas for the firms and various solutions. HR can take the help of AI technology-supported screening for hiring candidates, blind recruiting methods, and diverse sourcing. In this way, HR can build diverse, all-inclusive teams that stand for equality.
Educating people about it
The best way to raise awareness is by educating the people about the cause. For example, Starbucks has taken a great initiative to educate its workforce in Canada and United States about diversity. It did so to raise awareness after an unfortunate racist event happened in America.
The data-driven people’s analytics can portray and analyze goals, analyze HR efforts, and thus create an inclusive and diverse works space. The automated technology will help HR understand the Company’s diversity percentage and find methods to improve it.
What does the future hold for HRs?
It’s time to bury traditional methods and give importance to employee feedback and experiences. This is the age when you should focus on the employee’s overall well-being and encourage inclusions. It’s time to focus on the mental health and well-being of the employees, which the HR team can do.
These trends will vary as the year progresses, but one thing is certain: being an HR executive is challenging. Aside from the Company’s computer system, HR executives must maintain the most up-to-date knowledge base. Keep informed and concentrated!
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