The ever-evolving workplace is a vibrant, interconnected space, particularly with the diverse workforce. Macro-level shifts are never abrupt; rather, they are a progressive transition from real-time conditions. At present, fluidity of talent from complex cultural contexts and simulated environments demands a more versatile and agile approach.
An example of the potential jobs scenario, in order for the workers to be inspired, it is crucial for them to be directed by a common objective rather than show them a carrot of attractive wages and rewards on their own. The import of employee experience and the harmony of AI and people are also the crux of labour patterns in 2020.
If transition were the only constant, the workers will simply be as versatile and flexible as the talented. It’s a-challenge-a-minute scenario from procurement to talent retention. In such a charged environment, the commitment of the general pattern relevant to the different sectors will make a huge contribution to managing costs while holding a close eye on mobility and talent interaction while retaining real aspirations.
Technology and talent will play a more critical role in 2020
-According to the Ernst and Young forecasts, the global workforce will grow by 485 million in the decade 2017-2027.
-Age-wise, 82% of millennials admit that the technologies of the workplace will affect their decision when accepting a new career.
-By 2020 the employment of one in four companies is projected to be at least 30%.
-Technology has long been said to play a major part in the retention of workers. However, years gone by have shown us that innovation is not limited to technology alone; it still applies to the political and economic sphere.
-However, Gartner ‘s 2018 Future of HR report has found that more than 60 per cent of Chief Human Resources Officers (CHROs) are worried about being unable to handle future technical disruptions.
-As reported by PWC, a substantial portion of the repetitive transactional activities will be automated by 2020.
Future Workplace and View polled 1,601 jobs across North America on the incentives provided by employers and found that staff first prefer essentials, i.e. natural light, adequate ventilation and cool temperatures.
This fundamental feature is so important that it will minimise absenteeism by up to 4 days a year. Indeed, unscheduled absenteeism costs employers an average USD 3600 per hourly worker and USD 2650 per year for salaried employees.
A future-enabled labour force policy with a progressive solution will alter the complexities of human capital patterns that have been studied. In ‘The Capacity to Perform: Human Resources 2020 and Beyond,’ PWC set out the direction ahead and forward with 7 key points, namely:
-Create confidence and purpose-The workforce should be able to trust the boss in order to recruit and maintain talent.
-Future labour plan-Dynamic labor supply and demand models are hourly specifications.
-Develop digital ‘talent exchanges’-Enhancing a closer fit with the necessary skill sets and individuals, AI and ML (Artificial Intelligence and Machine Learning) will make a significant contribution.
-Rethink skills development-Thinks about redesigning academia and modernising business learning are required to adapt the workforce.
-Digitize work-Digital and competitiveness can be two sides of the same coin. However, those in work complain with fewer hours or free-time in hand to upgrade themselves while the ‘newcomers’ are overwhelmed with online courses offering them the moon for a lot of moolah.
-Human resource analytics-Priority choices in business include data analytics based on human capital or talent.
-Redesign of compensation models-Rewards and incentive qualities emerge even in transformative technological scenarios where redesigning skills, tasks and pay is intentional.
