What are the next generation priorities HR Leaders should know?
Human resources are undergoing a transformation. A lot has been happening in the human resources space. Mostly, as technology is pervading various functions of human resources, it is changing the way human resources operate. Consequentially, we can see the future of work clearer. Remote work, for instance, is becoming a norm. According to Buffer’s State of Remote Work report -2019, 99% of respondents want to work remotely for some part of the year or for the rest of their careers.
Nowadays, the stock of the HR professional is rising, with some practitioners being asked to join the C-suite instead of just visiting it. Many organizations are ditching the title “HR manager” for monikers such as chief happiness officer, director of talent-attraction strategy and even head of optimistic people. Future titles are likely to reflect the growing focus on technology and analytics in the field, says Jonathan Kestenbaum, managing director of New York City-based Talent Tech Labs, a talent acquisition software company.
A future-ready workforce with future skills
Automation and digitalization are rapidly changing the skills and competencies required for success and organizations are having trouble keeping up. As per a recent Gartner survey, 46% of HR leaders report that their employees lack the skills that are necessary to drive future performance.
We’re in an age where the frequency of digital disruptions is overwhelming, to say the least. Emerging digital technology and automation are swiftly changing the workplace requirements, and there is a rising demand for newer skillsets. As the proliferation of technological advancements takes center stage in industries the world over, global organizations are increasingly facing the ultimate challenge of retaining talent and building a future-ready workforce.
Developing an AI ethics strategy
Data is increasingly used to make work-related decisions in talent acquisition and management and even workplace design. Gartner research finds that 75 percent of organizations are dramatically increasing their investment in analytics; in fact, the budget line item associated with talent analytics is the fastest-growing within the typical HR organization . This increasing focus on talent analytics has led senior HR leaders to question how to collect data in an ethical way, and also how to ethically use the data that is collected.
These questions are particularly important given the increase in AI in the workplace. Going forward, HR must drive an ethical AI and analytics strategy that trains leaders on real-world employee data misuse and builds roles focused on data and AI decision ethics.
Improving employee experience is a major concern for HR leaders and organizations. It is more than basic engagement activities. It is necessary to focus on the experience, help employees to find meaning in their work, and encourage to develop further. Following of ‘shaping approach’ improves employee satisfaction, increases the intent to stay, and reframe from negative experiences.
Analyzing and defining work with the help of analytics facilitates employees to become bias-free and subjective in working. It removes prejudices, biases, and motivate the team to move as a single entity.
Environmental, social and governance (ESG)
Leaders in business and government worldwide are contributing to sustainability objectives that would benefit future generations. Boards and investors are also factoring ESG measures into their investment criteria and governance and decision processes.
Much of this is influenced by today’s majority workforce — the highly sought-after “digital natives” empowered by the fourth industrial revolution. This segment of the workforce is constantly urging brands and corporations to:
- Act in the interest of the safety, health and wellbeing of the workforce
- Promote equality and fairness in pay and opportunities
- Protect and save the environment
- Practice ethical governance
The fourth industrial revolution demands agility. Technology will keep evolving, shortening the half-life of many skills, thus talent requirements will keep changing.
Fundamentally, the agile mindset is:
- Focused on solutions and processes
- Thrives on collaborative problem-solving
- Welcomes the input of diverse perspectives and competencies
- Learning from mistakes to increase efficiency and reduce rework in subsequent iterations
- Recognizes that change is constant and that learning never ends