Emergent technology and changing employee needs are disrupting human resources (HR) activities across the board. Talent acquisition panic is one of the top concerns haunting HR professionals. Although resumes and applications continue to flood recruiter inboxes at an alarming rate, identifying and attracting world-class talent is becoming more difficult.
Furthermore, low unemployment rates are leading the currently employed to have to work more, causing higher employee turnover. As such, locking down top talent even when it can be found is a challenge for HR departments.
To help businesses stay on top of happenings in the field, here are some top HR trends to watch for.
It used to be that employer branding was the major focus of HR departments, but the high rate of employee turnover is beginning to dictate recruitment activities. More and more departments are shifting to automation to speed recruitment and fill the positions left by exiting employees. Developing effective managers is just one way to decrease turnover.
With artificial intelligence (AI) disrupting how business is done at all levels, it was only a matter of time before it was applied to HR activities. Savvy organizations are already adopting machine learning (ML) algorithms to shorten workloads and handle the tedious and mundane tasks associated with recruitment and other HR work, creating software solutions for all human capital management needs. By taking care of those tedious tasks, cloud-based talent acquisition software enables recruiters to focus more on identifying and hiring the best candidates while improving time-to-fill measurements.
The expansion of corporate wellness initiatives
There're several indications that corporate wellness initiatives, especially those that focus on mental and financial health in addition to physical wellness, will continue to expand. More companies are expanding their health and wellness offerings. Since employees spend most of their waking hours at work, it's imperative that employers invest in their workforce's well-being.
Organizations that don't provide those benefits place themselves at a disadvantage when it comes to recruitment and retention. Implementing and following through on corporate wellness initiatives can help improve employee engagement, reduce workplace-related stress, and boost talent retention rates.
Better diversity and inclusion initiatives
The massive adoption of diversity and inclusion (D&I) practices in recent years was largely a result of studies showing the positive impact of a diverse workforce on revenue. In the coming years, HR teams will continue to come up with better D&I initiatives and use emergent technology to recruit and retain a diverse talent pool.
HR teams dedicated to building a solid and diverse talent pipeline will mostly acquire that talent through testing platforms and focused job boards that attract culturally diverse applicants.
The rise of non-traditional work schedules
HR teams must begin to see non-traditional work schedules as the new norm as more workers look for telecommuting positions and remote working options. With proximity to the office premises becoming less of a barrier to recruitment, traditional hiring activities will evolve to accommodate the new trend.
Talent acquisition professionals can now afford to cast their nets far and wide in search of the best candidate for open positions. HR teams should also incorporate remote options and flexible work schedules to attract the kind of candidates who will add the most value to the organization.
AI in HR operations
An increasing number of companies are using AI technology to increase productivity, improve internal workflows and identify opportunities for maximizing efficiency. AI-driven tech is increasingly becoming the go-to solution for employers seeking to resolve the challenges and pain points of their HR department.
Employee retention is becoming a critical issue as organizations compete for talent in a tight economy. As such, savvy businesses must look to AI-embedded cloud-based HR solutions to improve the employee experience and retain top talent. AI enhances the employee lifecycle, starting from the interviewing and recruitment stages to onboarding and thereafter. It helps remove unconscious bias from recruitment activities, thus helping organizations hire the best talent.
AI-driven solutions can also simplify complex HR operations and reduce the time that professionals spend responding to employee inquiries and requests.
Improve your HR operations
Organizations thrive when they have an engaged and financially, physically, and mentally healthy workforce. By taking note of the trends, businesses can better understand the happenings in the HR world and take proactive steps to improve the operations and activities of those departments. Inflection HR can help your business with the latest HR trends.
To learn about how your organization can stay on top of the trends while efficiently managing employee lifecycle and employment compliance obligations, contact us today.