By Corey Hubbard - DreamHighr - Man About Town
Human Resources is one of the most exciting domains to be working in these days. With such fluctuation in the type of work available (remote vs in-house) and a slowly diminishing gender disparity (thanks to more women entering skilled positions), it looks like 2018 will be another interesting year for HR departments across the world.
Here are some of the major trends to look out for as the year unfolds:
Retaining Talent Via Recognition Software
Companies are well aware that employee loyalty is a tenuous rope that could snap at any moment. According to data compiled by HR Drive, as much as 75% of employee turnover could be prevented. When you consider that losing an employee costs the employer $15,000, the incentive to hold on to talent is real.
Recognition rewards are now in action for many companies, the goal of which is to provide small cash rewards to an employee when they have done something out of the ordinary. While it certainly keeps people motivated in their current position, whether it keeps them from looking for another job is still unclear.
While remote workers often have the luxury to plan their own hours, this open orientation to productivity is being applied more and more to in-house staff as well. The flexibility to work from home has been seen across a number of companies – as has the tendency to hire more freelancers. What does this mean for position responsibility? Plenty of change in these waters too, as traditional positions are being replaced by hybrid jobs based on an individual’s talents and proclivities.
Better Pay for All Talent
Wages are going up for the most in-demand talent out there, and that has a trickle-down effect on all employers and employees. In order to keep their top talent, many of whom are looking to get the best work/life balance for themselves, companies are offering all kinds of benefits they would never have had to make in the past.
Analytics is Taking Over HR Too
Every industry will benefit from big data analytics – and HR is seeing the change as we speak. One excellent example can be seen in the way Salesforce used HR talent analytics to help them hire web developers. HR analytics isolated key gaps in the talent market that had been overlooked by other employers, and Salesforce was able to fill their positions expediently and with low cost.
What is HR other than an exploration of accountability in business? The #MeToo movement has galvanized female minorities in the workforce to demand better ethical standards and a positive working environment for all. HR departments must take a more proactive approach to setting and enforce workplace standards for existing employees and future hires – an approach that can start with the government's definition of sexual harassment.
HR Will Help Guide the Future
One thing is certain about the role of human resources in 2018: it will be a stabilizing force in what is otherwise a very turbulent time for companies navigating work from home packages and female employees dealing with the menace of sexual harassment in the workplace.