5 Big Changes Coming to Human Capital Management
by Jayson Saba
The way we do work is always changing.
As new technology continually makes us more efficient, and evolving collaboration strategies have a noticeable impact on the dynamics within the workplace, every organization finds itself dramatically different at the start of a new year from the way it was 12 months ago.
The year 2014 was absolutely not an exception, as new mobile and cloud-based tools brought major change to work as we know it.
What’s interesting is that every time work changes, in theory human capital management should, too. If our employees are modifying their strategies over time, then how is the HR function adapting and keeping up?
That should be an especially salient question now, in early January of 2015. If workers are setting New Year’s resolutions, then those responsible for human capital management (HCM) strategies should consider doing the same. I blogged earlier about why I believe 2015 will be the year of the employee, and data is starting to back this up.
What employers need to be doing
According to Benefits Pro, there’s been a great deal of research into what new trends should be expected to shape HR in 2015. Deloitte Consulting has led the way, revealing its expectations for the new year in, Predictions for 2015: Redesigning the Organization for a Rapidly Changing World. In it, Deloitte principal Josh Bersin notes that the rise of Millennials and the arrival of the “24/7 work environment” amid a changing tech climate have converged to change the game.
The report states that,
Employers will be challenged to re-engineer the workplace, rethink jobs and reshape the way to attract, engage and manage people if they are to drive business performance amidst a growing global economy in 2015. Organizations should focus on bold, innovative strategies to develop leaders, engage employees and foster a healthy workplace culture if they want to succeed in a global environment where competition for talent will be fierce.”
So what strategies in particular are likely to be big in 2015? Here are five (5) in particular:
1. Redesigning performance management
Organizations are becoming more progressive about the way they oversee their employees.Companies are becoming less reliant on the annual appraisal process. The new model is one that promotes agility and transparency, allowing for staff members and their managers to collaborate on guiding the workforce together.
2. Helping the overwhelmed employee
Our colleagues find themselves overworked and stressed – for these individuals, it’s time to do something constructive to help them.
In 2015, in addition to implementing employee assistance programs (EAP) that focus on wellness, HR may want to look at ways to redesign the schedule to liberate the overwhelmed parties, especially shift-based workers.
3. Emphasizing corporate learning
Increasingly in the future, we’ll realize that job skills are the most important currency in the world.
For this reason, organizations will make learning a top priority so that their talent can develop and shine.
4. Investing in talent acquisition
Of course, it’s also a matter of bringing in high-quality people in the first place.
That’s why organizations in 2015 are likely to invest in better recruiting technologies to help them track down the best possible talent.
5. Developing HR itself
Last but not least, the HR department can only reach its full potential if it’s well-staffed, right?
Human capital management leaders should take a moment this year to develop the talents of their own internal people. As the HR function is transforming into a business partner, it will be critical to developing business acumen, underscored by tying HR efforts to the goals of the company.
Jayson Saba (2015, January 15). 5 Big Changes Coming to Human Capital Management. Retrieved from http://www.tlnt.com/2015/01/15/5-big-changes-coming-to-human-capital-management/