Human capital—employees—are an organization’s biggest asset. To protect this asset, human resources actively invests in employees from pre-hire through retire. This is a complex job that is always in flux. Human resources professionals must constantly adapt to changing market conditions for recruiting, talent management, compliance issues, office space needs, company culture, and more. These are the digital realities of the modern workplace and fluid workforce.
HR’s role in a successful organization goes beyond hiring and firing; rather it’s more about the strategic management of employees. In 2006, the Society of Human Resources Professionals (SHRM) first reported HR’s growing role in strategic planning through its contributions to employee retention, work/life programs, and succession planning. However, many HR teams were still focused on administrative tasks, limiting effectiveness at the strategic level.
Over the last decade, work has changed dramatically. When, where, and how we work is changing so fast that it can appear chaotic. The most successful organizations are utilizing integrated human capital management (HCM) solutions to solve these unique business challenges and ensure employees feel valued.
Tailor Your HCM Strategy for the Modern Workforce
Today’s HR executives and business leaders must keep pace with developments in technology, employee experience, and talent. How your organization responds to these trends is critical to the way you do business and your ability to attract and retain the best talent. Here are the top three trends that are transforming HR today.
1. Leverage Artificial Intelligence to Simplify HR
Artificial intelligence (AI) is redesigning the standard HR business model by automating almost every process and task. As AI becomes a mainstream business tool, the most successful organizations will embrace the combination of human and digital work and use smart technologies to embolden workers to do their jobs better. To succeed, HR must develop a new mindset that accepts the speed of change.
The Fourth Industrial Revolution is driven by automation and AI. The future will have less need of physical, manual labor and demand for workers with analytical skills, communication abilities, and creativity will continue to grow. What is emerging is the beginning of a blended future workforce with human beings working with machines. HR departments must prepare their workforce for this new future, helping upskill employees and calming their fears about job security and change.
2. Take Care of Your Workforce
Employees value work culture and satisfaction when choosing a place of employment. To be happy and productive at work, employees seek flexible work options and support for well-being. To compete for talent, many organizations are looking for new ways to help employees cope with work/life balance issues, reduce stress levels, and promote health and happiness at work.
3. Develop Skilled Talent
Automation and AI have minimized the need for physical labor, but it has also created job insecurity for many workers. HR professionals can take proactive steps to prepare employees for all types of job changes. According to a LinkedIn report, 93% of employees would stay with a company longer if it invested in talent development. Organizations that invest in training close skill gaps, increase engagement, and attract and retain the best talent.
These market forces are disrupting the status quo and making way for innovation. To control the chaos and successfully compete, HR must address these trends to deliver the experience employees want, the talent your organization needs, and the collaboration that modern work demands.
A Manageable Digital Environment
Asure Software’s AsureHCM platform provide the cost-savings, risk-mitigating tandem to scale HR effectively, continuously, as your business evolves, addressing the digital realities of the modern workplace and fluid workforce. Contact Asure to discover how.