It’s a new year and time to start thinking about your people strategy for the year ahead. As part of this process, it’s useful to take a moment to reflect on trends in the people space, they can generally be relied on as an indicator of a change in direction or that something new is developing. With the added impact of entering a new decade (defined by futurists as a “landmark decade”), the continued effect of a new generation entering the workforce and the uncertainly around the future of work - there is plenty of evolutionary change predicted in the people and recruitment space.
Here’s an overview of what the market is signalling, in regard to top talent trends.
Agile workforces will prevail
Global economic uncertainty means that talent leaders will have to be ready for any possibility, from upwards growth through to economic downturn. This requires an agile approach and short-term outlook that could result in resourcing swiftly and efficiently to remain ahead of talent scarcity trends or having robust HR systems (and HR people) in place to deal with organisational restructure.
The importance of analytics and data
We’ve touched on this subject previously – having easily accessible employee data can be incredibly valuable when making people related business decisions. From identifying skill gaps to highlighting areas of improvement in your recruiting processes, data will increasingly drive decision-making.
Shift in focus to the employee experience
The experiences your current (and potential) employees have with your brand will continue to impact your talent acquisition and retention strategy. Particularly as the squeeze is felt in some talent scare markets, the fight to retain employees will be real. That means understanding what is truly valued by your people – what we are increasingly seeing is that remuneration is being viewed as a hygiene factor. The same is true when you are recruiting new talent to your business – are candidates having a positive experience in what can be an incredibly stressful time?
Hire for potential
The traditional approach to recruitment was to review a candidate’s background and experience as a tick box exercise – do they have a relevant degree, have they had the required number of years’ experience and in relevant sectors? There are a constantly evolving number of emerging roles particularly in the digital and customer space, where you’re unlikely to find talent who have amassed years of experience. Aside from technically specific roles, is a formal degree an indicator of on the job success? Future focussed employers are increasingly looking for skills and capabilities like problem-solving, critical thinking and creativity – hiring for potential and where necessary upskilling.
Bringing the generations together
It’s an exciting time in the workplace with a convergence of generations working under one roof – Gen Z, Millennials, Gen X and Baby Boomers. Unleash the potential of that diversity by encouraging your multigenerational workforce to collaborate, understand their differences and learn from one another. Reverse mentoring is a great approach to closing generational gaps in your business.
In 2020, moulding a workforce that is capable of responding to your ever changing business needs is critical. Is your business up for the challenge – do you have the resources to deliver in the people space?
The Decipher Team
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