Tuesday March 24, 2015
Earlier this year leading global consults / analysts, Deloitte, in their latest report stated that ‘2015 will be a tumultuous and transformational year’ for the HR and talent space. As money comes to HR technology, so do new ideas, and the results is that we are seeing one of the most innovative times ever in the HR technology market.
The top key trends that they highlighted are:
- Engagement, retention, culture, and inclusion have become front burner issues
- The redesign of performance management will likely continue
- Time to address the overwhelmed employee: How do we redesign and simplify the workplace?
- Skills are now currency; corporate learning takes on increasing importance
- Invest, refocus, and redesign talent acquisition— leveraging network recruiting, brand reach, and new technologies
- Talent mobility, career management, and the leadership pipeline become a top priority
- Accelerate and globalize the leadership pipeline
- Take the plunge and invest in talent analytics and workforce planning—this area is now an imperative for competitive advantage
- Revisit your HR technology plan, reduce core vendors, and look for innovative new solutions that drive high levels of value
- Review and redesign the roles and structure of your HR Team and invest in HR professional development
There is a lot of food for thought here and can leave some wondering where to begin. So to narrow it down, three things that stand out and to take away are…
- Employee engagement – Gallup believe that only 13% of the workforce are engaged, and so there is a large number who are not motivated, productive, or maximising their potential, all of which also have a negative effect on an organisation. Along with engagement, retention also remains a main issue around the world, creating a whole new focus on employee wellness and happiness as a HR strategy. If people are unhappy at work, then they are likely telling others—making it harder to hire good people, and so a focus on engagement is a priority. What can be done? What about the engagement survey? Just be sure to draw actions from the results, and actually follow up on them.
- Leadership pipeline – Deloitte found that 85% of business and HR leaders rate this as an urgent or very important problem (the number one rated challenge in Deloitte’s 2014 Human Capital Trends research), and less than 15% of organisations believe that their leadership pipeline is “ready”. Identifying who is coming up through the ranks, and what development they will need, is a top priority. Building a leadership pipeline requires a continuous focus on leadership at all levels. It’s not just about the visionary CEO, it’s about managers, who to the person on the front line is a leader, exemplifying what the company is all about. Focus on developing a simple leadership framework and rigorously assess leaders at all levels.
- Revisiting HR technology – the talent management software market is now more than $5 billion. The overall HR software market is close to $15 billion. This year companies should revisit their aging systems, and look to modernise and replace these with highly flexible, cloud-based systems. HR tools are now workforce productivity systems—and, if people cannot easily learn to use them, then they will be underused and often unsuccessful. Start off by identifying what it is that you want to measure and why, making sure the process is efficient and effective.
Let 2015 be the year to be bold, try new things, and make sure that your HR is adding value and helping organisations to strive towards success.