We all recognise this: we live in an era of constant innovation and change, and this is no different for HR.
What is the future of HR and how can it be of benefit to your business?
We are going to look at three topics in HR strategy that you may recognise, and how they are evolving.
HR analytic trends
Most businesses know what it means, but that doesn’t mean they are putting analytics to good use. In fact, very few businesses get the most out of their data or are fully utilising analytical tools.
“Most people use data the way those that have had a few too many use a lamppost: for support rather than illumination.”
In short, HR analytics is a data driven approach to identifying and analysing people-related issues. We can then combine and analyse the data to discover new and useful insights which are based on objective data.
Overall, working with HR analysts leads to better working environments for employees and better profits for your business. By being able to collate your data in one place with reliable tools, you are off to a good start. By putting your data to good use, you can integrate a larger variety of behavioral, emotional, attitude indicators. This will lead to a better insights of employee experience and engagement, which is paramount with the ever-increasing remote work practices.
This is why the future of great business relations with HR is fundamental to improving working environments and increased employee productivity and profits, that is why so many organisations are embracing these trends.
New work and millennials
You might already be familiar with the term new work, a term that not only describes a single phenomenon, but a set of interconnected trends and developments. We have already entered the era of new work, as our perception of work post-COVID-19 is profoundly changing.
People used to love complaining about millennials. The truth, however, is that they are the main drivers of positive change. Born in the digital age, millennials are tech savvy and value digitalisation in all its forms. They bring fresh ideas and value new ways of working.
This is great news for companies. When you consider the fact that millennials now make up the majority of the workforce. They are reshaping our world and the way we work in it.
What do millennials want?
Flexibility – Flexible working arrangements, such as remote work and flexible hours, and an equal and better work-life balance.
Communication – Collaboration, transparency and feedback are all important, especially when it leads to learning. Preferred communication methods usually involve technology such as mobile devices, apps and social media.
Strong values – They believe that businesses should take into consideration the greater good and societal impact.
Luckily, modern management and HR are shifting to a more people-centered approach. This allows not only millennials but all generations to thrive.
After all, wouldn’t you want to work for a company that values and supports your wellbeing and development?
We at MAD-HR live by our strong values, and with any work we complete for our clients, our values are always at the heart of everything we do.
In the end, the processes and platforms you use in your work aren’t what matter – it is the results that matter. The best results often come about when employees are involved in selecting and measuring their own goals. This means it is important to foster curiosity and diversity, and encourage learning and development. Moving towards a truly people-centric approach is key to all of us, no matter the role or industry.
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The gig economy is an economy that runs on gigs. In this type of labour market, short-term contracts and freelancing are favoured over long-term or permanent contracts. This gives the employee flexibility and freedom to pick and choose jobs and the amount of work performed.
Gig economy is not just a small movement nowadays; in fact there are over 4.7 million workers of this type in the United Kingdom.
For many people, gig economy provides the flexibility they want and the opportunity to be their own boss.
When considering providing your employees with remote working, flexible hours, contractor work and a gig economy, you must make sure that your company contracts and employee handbooks are up to date and follow current employment law.
For advice on any of the following, please contact us:
- Recruiting foreign nationals
- How to apply for a sponsor license
- Changes to the national minimum wage
- Coronavirus Job Retention Scheme
- Alternative employment for redundant employees
- Enhanced redundancy protection for pregnant employees and new parents
- Calculating holiday pay for employees with irregular hours
- Casual and zero-hour contracts
- Parental bereavement policy
- Whilst these are some of the topics you may have queries on, we are here to help navigate you through any “people related” queries.
Focus on your employees
By now, we have focused on a lot of changes hitting us from different directions. Getting people on board and committing to change and a common goal can be difficult, despite your knowledge of the latest leadership concepts.
Employees were previously seen as a cost rather than the most important source of revenue. We now realise that employees are the ones with firsthand experience of your company’s structures, systems, products and services. They have the power to accelerate your business by engaging themselves and others in your process.
“In spite of all of its technology, a company is only as good as its people.”
All the observations and perceptions employees have during their time working for an organisation is described as the employee experience, i.e. the journey the employee takes with your organisation. The employee experience cycle includes attracting and hiring talent, onboarding and engaging the new employee, coaching their performance and development, through to offboarding.
Understanding and developing this experience should be at the top of any employer’s list, since it can provide tremendous benefits for both the employee and the company. By promoting employee experience, HR can for instance help increase employee wellbeing and ultimately increase employee engagement, creating a more dedicated workforce for powering sustainable growth within your business. It can also work wonders on your business brand, making it easier to recruit new talent.
HR – Where are we headed next?
As HR continues to evolve, trends will come and go. Knowing your way around trends, however, doesn’t mean jumping into whatever the industry leaders are talking about. We all know change takes time, and every company is different. The real key to adapting to and benefiting from HR trends in 2021 is to make an educated and conscious decision about which path to follow – the one which best suits your business needs.
We are here to help you make those informed decisions and will work with you every step of the way.
If you are interested in finding out how we can deliver this for your business, then please contact us.