The salient functions of a human resources department are changing in ways that weren’t anticipated just 20 years ago, as a result of repercussions from the ever-evolving gig economy.
Issues include understanding business strategies, analytics, mitigating risk, compliance and, of course, the employees.
In addition, HR professionals need to learn and strategize in become the consummate trusted advisor to senior management.
Trends impacting HR:
Understanding business strategy
To be respected in the C-suite, HR professionals need to fully aware of what leads to business growth.
HR professionals must better comprehend how their companies can best profit and participate in the planning for the overall welfare of their employers.
Obviously, they’ll still need to manage human capital in recruiting, hiring and training talent.
Moreover, they’ll need to better grasp the company’s mission, the chief executive officer’s vision, and contribute in salient ways to see it come to fruition for financial success.
In order to accomplish this, they’ll have to have a working knowledge of the company’s strategic direction as well as economic, competitive and other marketplace issues.
Welcoming artificial intelligence and technology
Analytics for forecasting and evaluating elements for retention, recruitment and health programs are already being used by leading HR departments.
So-called intelligent robotics are prevalent. So is biometric technology to authenticate employee identity.
Computer-generated programs, for instance, have brought sweeping changes in automated conversations on matters important to employees.
These digital experiences are changes that a younger workforce understands and expects at work.
HR, meanwhile, will increasingly have to determine which jobs can be automated and provide training for the employees who are given new roles.
Conversely, this means HR leaders will have more time for strategic planning.
Competing for best employees
Great communication is vital in the competition in recruiting and retaining the best talent.
As always the case with employees, the spotlight needs to stay on management issues involving people in retention and recruitment.
Pressing issues also include creating a powerful employee experience for a happy work environment, coaching ambitious talent and forecasting which employees will be deserving merit pay increases.
In other words, it is getting more important to give employees the same experience as the company’s customers.
Adapting to the new workforce
Not only are younger employees less inclined to be loyal to their employer, there are workers accustomed to short-term work jumping in and out of the organization.
Telecommuting is likely to increase in scope. Globalization is increasing the number of remote employees.
Developing and marketing benefits packages
Because it costs less to retain talent than it does to recruit, companies will have to innovate in benefits.
The key is to remember the typical events in the lives of younger workers.
That might mean more than the customary health insurance, flextime, parental leave, transformation assistance and financial health programs.
Complying with regulations
HR professionals will have to agile for flexibility to stay abreast of regulations.
Avoiding bias and discrimination are paramount.
There are many to watch: Form I-9 and E-Verify requirements, tax regulations, and family and medical leave – just to name a few.
Many locales have changed laws on marijuana use, the minimum wage and pay equality. The latter two will force HR departments to evolve in compensation strategies.
New technologies collect, analyze and store sensitive data, which are regulated by a host of state and federal laws.
From the Coach’s Corner, here are relevant strategies for HR success:
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4 Reasons Why New Managers Fail in Human Resources – Best practices guarantee success for new managers. Not to over-simplify, here are the four solutions that will help new managers succeed.
Human Resources – Slow Motion Gets You There Faster – Pictured in the Warner Brothers’ movie, “To Have and Have Not,” Hoagy Carmichael is credited with coining the phrase, “Slow motion gets you there faster.” The phrase is apropos to get higher performance in human resources. Here are the reasons and strategies for hiring over-qualified employees.
As Tech Disrupts, HR Strategies to Meet Future Staff Needs – Tech innovations such as artificial intelligence, 3D printing and driverless cars threaten businesses that already have challenges in human resources. It’s critical to identify the future skills and roles companies will need in their staffing, and to make needed changes. Here’s how.
16 Best Practices to Stay out of Legal Trouble with Employees – Generally, in human resources, companies find themselves in legal hot water because they inadvertently make mistakes with their employees. It’s important to triple down on preventative measures and responses to legal hazards when necessary.
“If you fulfill the wishes of your employees, the employees will fulfill your visions.”