Digitization has taken the world by storm. Offices, the world over are experiencing a massive makeover thanks to automation. A paradigm shift can be seen in technology. The advent of cutting-edge technologies, like cloud computing, AI, machine learning, and data analytics has paved the way for efficiency.
All this has had a significant impact on HR and Talent Management practices. Here are the key work space trends that you will be looking at in the year 2020.
Navigating the Re-Skilling Revolution
Businesses are finding themselves on the front line of a paradigm shift wherein the work space is becoming more automated. Preparing your company for a business disruption will be a key strategy for leading stake holders. Lack of key skills will be a worry for CEO’s world over. Hence avenues where employees can avail mid-career re-skilling should be the prime focus for companies.
Most HR leaders are of the opinion that modern day businesses need technical competency, business astuteness and very strong communication skills. Automated and hybrid roles across various domains require these key skills :
Scientific and Business Related Skills – This includes domain specialties like marketing skills, financial acumen or expertise in organisational design. Having the ability to share data across different domains could also lead to new innovations and ideas.
Soft Skills – More and more leaders are looking for candidates who rank on soft skills. Some of these skills include critical thinking, a high EQ, adaptability, decision making, passion and enthusiasm. Such diverse qualities are actually helpful in attaining business goals.
IT skills – With enhanced digitization employees will need to re-think their career progression strategies and focus more on development of IT skills like data analytics, data mining and artificial intelligence.
A futuristic work space trend of 2020 will be looking at a work ethos that entails greater flexibility in working, remote working, working while on the move and massive decentralization.
Telecommuting will set the precedence of a free and more versatile working paradigm where there will be complex tools monitoring working hours of employees, employee productivity etc. Fully automated software, document sharing platforms and a host of other complex tools combined with mobile phone technology are already making life easier. Virtual work spaces will be the norm.
Robotic Process Automation (RPA)
HR departments world wide are quickly embracing the RPA technology as a time saving method and a new work space trend. RPA is designed to reduce the burden of voluminous and repetitive tasks leaving HR managers for more strategic functions like employee engagement, career development programs and pro-active hiring. Some of the ways RPA is used are:
Offer letter management
Induction and Training
Travel and Expense Management
Pay roll management
Employee Data Management
Attendance and Time
The Rise Of Gig Economy As A Workspace Trend
A gig economy is nothing but a market which is characterized by the use of contractual labour force or freelance work vis-a-vis permanent employees as a staffing solution.
With the advent of start-ups using part time labour or gigs is a cost reducing way for new businesses to scale their way up into the market. The year 2020 will see a remarkable growth in this work space trend.
More and more HR heads are vociferous about using Gig workers as they easily supplement the need for additional skills that may be lacking in the workforce. The primary agenda behind this is cost reduction and filling up temporary vacancies. Gig workers are nothing but self-employed people, freelancers and part time workers. As the term suggests these workers come, do a gig and leave for greener pastures.
Most gig workers have anything between 11 to 20 years of experience and have boosted talent acquisition massively to provide niche skills even if it is for a short period of time.
AI or Artificial Intelligence For Recruiting
Using AI for modern day recruiting practices will be one of the key work space trends of 2020. One of the biggest challenges in recruiting and talent acquisition is the screening of a voluminous number of resumes during the hiring process.
This situation can be remedied by the use of AI software. Such software will use machine learning concepts to automatically screen and shortlist applicants. Use of AI in analytics will be applied to job descriptions to further refine it and remove language that reeks of bias or gender discrimination. Thus new and improved job descriptions will be more gender diverse and inclusive. The three tenets of recruiting i.e sourcing, screening and testing will all be subjected to AI automation. Following improvements will be seen in work processes:
Improved hiring through standardization
Reduction in overall work volume and time saving
An increase in revenue to about 4% per new employee
Companies failing to abide by these future work place trends will definitely be left struggling against stiff competition. An overview of what our work space will look like in the future shows a bright picture with a fluid and dynamic environment that can address multiple HR problems with a single solution.
To grow as future shape-shifters, employees need to adapt and adopt these newer work space technologies in order to stay heads up above the rest.