With the rise of the millennial generation also comes a shift in workplace attitude and arrangements, meaning that we’re looking at an increase in flexible work arrangements, part-time gigs, and the ability to work from home. Because of this major shift in workplace thinking, there have been a number of implications for businesses. Let’s take a look ahead at what talent management trends we can expect in the new year.
A Major Increase in Real-Time Continuous Feedback
Creating a culture of continuous feedback will be of the utmost importance for organizations and is being propelled by millennials’ expectations for regular feedback in a fast paced work environment. By adopting tools that enable people to receive regular feedback from a range of sources, including customers, peers, and managers, employers can expect a stronger workforce contributing towards overall company goals. Human Resource technologies are already beginning to reinvent performance management practices and have already achieved a new level of maturity allowing managers to easily capture and provide ongoing feedback to their teams. The rise of performance management applications help to create a formalized approach to feedback that can be accessed through any mobile device.
An Acceleration of Personalized Employee Experience
Human Resource departments are increasingly adopting consumer marketing tactics, such as segmentation in order to increase engagement and improve the overall employee experience as employees essentially become viewed as a sort of “customer”. The success of personalized employee experience relies on the availability and access to technologies that can help support and scale it across the workforce. An effective talent mobility strategy will also be very important for maintaining an engaged workforce while providing visibility of internal job opportunities and projects aligned to an employee’s interests and skills.
The Rise of People Analytics and Digital Human Resources
People analytics will assist HR in playing a greater role in influencing executive level decision making, by providing greater insights on people productivity metrics. This increased level of sophistication in people analytics means that it’s possible to report well beyond typical HR data such as recruitment and retention, and can now provide the business with a holistic view of people productivity using a combination of operational, financial, and talent data. Similar to most HR innovations, technology is the major force behind this shift and leading the sector further down the path of data-driven decision making with the ability to correlate people data to business performance, and in some cases predict business performance, as well as plan future workforce needs.