Emerging Trends in HRM are a hot topic. Many professionals want to know what the future of work looks like. Many HR professionals have projected to see changes in their work environment. These changes include AI processing and analysis affecting the algorithms that are applied to attract resumes. Highlighted trends associated with predictable data-driven outlooks, technology becoming more important with new emerging markets, as it becomes universally accepted by 2030. Before analyzing the trends, we must understand the environmental conditions that are making these pertinent changes to the workforce.
How would the Great Resignation change workplace?
In the backdrop of Covid-19, a large number of the workforce left traditional jobs in pursuit of more flexible, remote, and family-centric jobs. Many of them resigned for pursuing a “nomadic lifestyle” or trading stocks or simply being a part of the Gig Economy. The Great Resignation is when a large number of employees quit their jobs at the same time. This can be due to a variety of reasons, such as poor working conditions, low pay, or simply because they don’t like their job. Whatever the reason, the Great Resignation can have a major impact on a company’s workforce strategy.
Many reasons are attributed to the Great Resignation Event in 2020. They can be mentioned as below:
- The Employees did not want to join back the office and pursued much flexible jobs
- Many employees left expensive and high-rent areas and started to live frugally
- Many employees found financial freedom through stock trading or by creating an online business
- Employees realized the value of family time and freedom
- Many employees got upset with the long commuting hours and searched for many flexible jobs
- COVID-19 saw rise of many on-demand startups which offered great salaries and flexibility. Employees searched and joined hands with them
- Employees wanted to leave a toxic work culture behind and create a sustainable working arrangement for themselves.
The fight for the right talent
With the many factors that influence someone trying to choose a company, you may not just be looking at salary or prestige. You might find yourself also asking whether you will love your job and whether the company shares your values.
With the low unemployment rate, employers are struggling to find qualified workers. Even STEM positions such as engineering and computer science are in high demand, with 1-2.5 million jobs without qualified candidates.
Organizations are becoming more aggressive in acquiring and retaining new talents. They are offering healthy salaries, perks, and flexibility along with very interesting and creative work. This tectonic shift has been primarily seen in the ever-growing tech sector which is ever so hungry to fuel a fully digital economy.
Emerging Trends in HRM
Emerging trends in HRM 1: Predictive Analytics for HR and Recruiting
1. Predictive analytics is a data-driven approach to making predictions about future events. This type of analytics can be used in HR and recruiting to predict things like employee turnover, job satisfaction, and engagement.
2. Using predictive analytics, HR and recruiting professionals can identify trends and patterns that might otherwise be difficult to see. This information can be used to make decisions about the workforce that can improve employee retention and satisfaction.
3. Predictive analytics can also help organizations to identify potential problems before they happen. For example, if an organization notices that a high percentage of employees are leaving after a certain amount of time, they can use predictive analytics to investigate the reasons why this is happening. This information can then be used to make changes to the workplace that can reduce turnover and improve employee satisfaction.
Emerging trends in HRM 2: Intuitive Hiring Platforms
There is a growing trend of using intuitive hiring platforms to help identify the best candidates for open positions. These platforms use data and analytics to identify which candidates are most likely to be successful in a given role. This can help to streamline the hiring process and ensure that the best candidates are being hired.
Trend 3: Flexible work arrangements
As we have mentioned previously, another trend that is gaining popularity is offering flexible work arrangements. This means that employees are given more flexibility in terms of when and where they work. This can help to improve work-life balance and increase productivity.
Emerging trends in HRM 4: Employee development
More and more companies are placing an emphasis on employee development. This includes providing training and development opportunities to help employees grow in their careers. This can help to improve retention rates and attract top talent.
Trend 5: Improved Onboarding Processes
Onboarding is the process of orienting and acclimating new employees to their jobs and workplace. It is an important part of the employee lifecycle, as it sets the stage for a successful and long-term employment relationship.
There are a number of trends that are changing the way onboarding is done. One trend is toward more personalized and tailored onboarding experiences. Gone are the days of one-size-fits-all orientation programs. Today, companies are realizing that each employee is different and needs a unique onboarding experience in order to be successful.
Another trend that is changing onboarding is the use of technology. With the advent of digital onboarding tools, it is now easier than ever before to provide new employees with the information they need to be successful in their jobs. These tools also allow companies to keep track of their employees’ progress and ensure that they are meeting all of the necessary milestones.
Overall, improved onboarding processes are leading to better retention rates and more engaged and productive employees. As more companies realize the importance of these trends, it is likely that they will become even more commonplace in the workplace.
Emerging Trends In HRM 6: Virtual Alternative Reality Training Programs
1. Virtual alternative reality training programs could change the workplace by providing employees with realistic, hands-on experience in a safe environment.
2. This type of training could be especially beneficial for employees who work in hazardous environments or who need to learn how to use complex equipment.
3. Virtual reality training programs could also help employees become more comfortable with new technology or processes before they are introduced to the workplace.
4. These programs could provide a cost-effective and convenient way for employers to train their employees.
5. Virtual reality training programs have the potential to revolutionize the way employers train their employees.
Emerging Trends In HRM 7: Extending Employee Specializations
The role of the human resources department is always evolving as the workplace changes. One trend that could change the way HR managers do their job is extending employee specializations.
In many workplaces, employees are expected to be able to do a little bit of everything. However, this is not always the most efficient way to run a business. Extending employee specializations would allow businesses to run more efficiently by having employees who are experts in specific areas.
Extending employee specializations would also allow businesses to save money. They would no longer have to pay for employee training in multiple areas. Instead, they could focus on training employees in one specific area. This would lead to a more skilled workforce and could help businesses save money in the long run.
The trend of extending employee specializations is one that could change the workplace for the better. HR managers should keep an eye on this trend and be prepared to implement it in their own workplaces.
Emerging Trends In HRM 8: Social Media Integration in Recruiting
1. Social media integration in recruiting is a growing trend that could change the workplace.
2. Social media platforms like LinkedIn and Facebook are being used more and more by employers to find and recruit candidates for open positions.
3. Some companies are even starting to use social media platforms to conduct background checks on potential employees.
4. Social media integration in recruiting can help employers to find a wider pool of qualified candidates, and it can also help to speed up the hiring process.
5. However, there are some concerns about social media integration in recruiting, such as privacy concerns and the potential for discrimination.
Overall, social media integration in recruiting is a trend that is likely to continue to grow, and it could have a big impact on the workplace.
Trend 9: Shift from HR Administrators Back to HR Consultants, Specialists, or Elites
There has been a shift in the role of HR administrators in recent years. They are now being seen more as HR consultants, specialists, or elites. This shift is due to the changing nature of the workplace and the increasing importance of human resource management.
Administrators are now expected to be more proactive in their jobs and to provide more strategic advice to managers. They need to be able to understand the business objectives of their organization and align their strategies with those objectives. They also need to be able to identify talent and develop strategies to attract and retain that talent.
This shift from HR administrators back to HR consultants, specialists, or elites is likely to continue in the future as the workplace continues to change. organizations will increasingly recognize the importance of human resource management and seek out experts who can help them achieve their goals.
Emerging Trends In HRM 10: Remote Redundant
1. The trend of remote work is likely to continue in the coming years, as more and more companies adopt this model. This could lead to a reduction in the need for redundant staff, as employees can simply work from home if they need to.
2. The rise of artificial intelligence (AI) is another trend that is likely to impact the workplace. AI can help with things like scheduling and task management, which could lead to a reduction in the need for human resources managers.
3. The trend of employee self-service is also likely to continue. This means that employees will be able to access HR information and tools without having to go through their managers. This could lead to a reduction in the need for human resources staff.
Overall, these trends could have a major impact on the workplace. They could lead to a reduction in the need for human resources staff, as well as changes in the way that HR functions are carried out.
Emerging Trends In HRM 11: Telecommuting
1. Telecommuting has become a popular option for many workers in recent years.
2. Thanks to advances in technology, it is now possible to work from almost anywhere.
3. This has made telecommuting a more viable option for many people.
4. Telecommuting can have many benefits, such as increased flexibility and decreased commute times.
5. However, there are also some potential drawbacks, such as loneliness and isolation.
6. HR technology can play a role in making telecommuting a successful arrangement for both employers and employees.
7. For example, HR technology can be used to help create policies and procedures for telecommuters.
8. Additionally, HR technology can be used to help monitor employees who telecommute to make sure they are productive and meeting their goals.
9. Overall, HR technology can help to make telecommuting a successful arrangement for both employers and employees.
Trend 12: Focus on Electronic Management of Resources
A new development in internet technology is threatening to change the way Electronic Human Resource Management (eHRM) is done. While previously this management relied on managing physical activities and employee data on paper, with the rise of machine learning and artificial intelligence, HRMs can now move their processes to the digital space – there are many benefits as well as drawbacks. Not only does it significantly reduce overheads like papers and office space, but also gives ready help to employees who want them.
Emerging Trends In HRM 13: Focus on Diversity, Equity, and Inclusion (DEI)
Many research has shown that diverse workplaces are great for innovation. Diversity is achieved by recruiting people from multiple, ethnic and cultural backgrounds. Also, gender diversity pays rich dividends as organizations are migrating to a new paradigm. There is also a tectonic shift to recognize the LGBTQ community and value their inputs in the decision-making process.
Equity refers to fair access to all resources and inclusion targets your voices and opinion being heard in the organization.
Emerging Trends In HRM 14: Bringing the Human Touch in the system
Even though technology is overshadowing each and every aspect of HRM, the core aspect of Human Resource Management is to bring empathy and the human touch into every aspect of the process. The new trend specifically focuses on one-on-one touches, skip-level meetings, and understanding the real pain of the employees.
Emerging Trends In HRM 14: Advent of Artificial Intelligence and Gamification
AI can be used for a variety of tasks, including screening job candidates, tracking employee performance, and predicting turnover. AI can help companies to make better decisions about their workforce. For example, AI can help to identify potential candidates for promotion or identify employees who may be at risk of leaving the company.
Another trend that is starting to gain popularity is the use of gamification in the workplace. Gamification can be used to engage and motivate employees. For example, employers can use gamification to reward employees for completing certain tasks or meeting certain goals. Gamification can also be used to create a sense of competition among employees and encourage them to work harder.
Both AI and gamification are trends that have the potential to change the workplace. Companies that adopt these technologies will be able to improve their decision-making, engage and motivate their employees, and predict turnover.
Trend 15: Embracing Hybrid Model of Work
Even though many managers disregard the idea of a completely remote workforce, employees and managers are settling into a middle ground. A hybrid workplace is here to stay forever and among a few things we should be thankful for the global pandemic
Samrat is a Delhi based MBA from Indian Institute of Management. He is a Strategy, AI and a Marketing Enthusiast and passionately writes about core and emerging topics on Management studies. Reach out his LinkedIn for a discussion or follow his Quora Page