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HR: Where we are moving ahead?

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Jayshree Dutt

25-Apr-2018

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The last two years have seen significant changes on the hiring methodology, engagement tactics, performance management, culture and work environment aspects. Going forward, the focus on all these aspects will amplify.

While the recent past was happening time for HR fraternity, across the globe, near future is going to be more disrupting. The coming years are going to be bigger. The year 2018 is expected to bring on the forefront a lot of innovations and challenges to the table that will significantly impact the way HR operate and perform their daily tasks. The last two years have seen significant changes on the hiring methodology, engagement tactics, performance management, culture and work environment aspects. Going forward, the focus on all these aspects will amplify. The amount of HR tech solutions will increase with a greater focus on having a good mix of solid core HR system, payroll solutions and focused innovative HR solutions. Here we talk about some of the significant researches on HR front which gives us a sneak - peek into the world of HR in 2018:

Innovation in HR analytics space is happening as the HR moves to predictive analysis which can help them develop strategies and share crucial insights with organisation to aid its stability and growth.

The two big challenges
According to the survey findings "HR Trend cast" by Paycor, HR leaders feel optimistic about the direction of their business in 2018 and employee morale is high, but 45 percent are concerned about recruiting and retention. To address their two biggest challenges - finding the right people and keeping them motivated - the survey showed that the next five years will see heavy investment in people and data.


Soft skills taking precedence
Over the next five years, HR is expected to become less about administrative tasks and more about adding strategic value, with 82 percent believing "soft skills" will become more important and 47 percent expecting their jobs to become more strategic, reveals the Paycor survey.


Digital is the way forward
According to the DATIS 2017 State of Workforce Management report 65% of executives plan on investing in digital tools in 2018. Moreover, digital will continue to be the buzzword in HR landscape in 2018, as well. Even the Paycor survey shows that 48 percent respondents believe many core HR functions will be automated by 2022. 


Customisations on roll
Technology has indeed transformed the way employee's go about their daily activities. The current gamut of digital tools are more user - friendly than ever before. Industry - specific solutions are also available to meet the niche needs of organisations - which is an answer to one of the key challenges that HR faces, i.e. the time - consuming administrative tasks which further restricts them to impact their organization in terms of strategy and decision making. Digital tools help automate such processes so that HR professionals will have more time to spend on developing key strategies that can help move the organisation forward.


Moving towards prediction
Innovation in HR analytics space is happening as the HR moves to predictive analysis which can help them develop strategies and share crucial insights with organisation to aid its stability and growth. It is termed as one of the key 'game changers' in the HR space. There have been business cases which clearly demonstrates the potential of predictive HR analytics, further making it clear that predictive HR analytics is here to stay.

Over the next five years, HR is expected to become less about administrative tasks and more about adding strategic value, with 82 percent believing "soft skills" will become more important and 47 percent expecting their jobs to become more strategic, reveals the Paycor survey.


Domestic industry to drive employment
According to a report by EY, Indian global middle class is expected to reach 200 million by 2020. Domestic demand is going to be the major employment driver for the economy. There will be over 400 million (approx.) millennials who will create the marketspace for digital product and services that demand newer skill sets - thus creating more and new jobs.


Startup horizon to expand
Over 5000 tech startups are organising Indian economy, currently. With the fast rise of the Internet along with government initiatives, the ability to scale a startup has brought both tremendous growth and opportunity. Exponential technologies like robotics, AI, internet of things, machine learning, social media, analytics, cloud, 3D printing will be adopted on a large - scale by Indian industry which will drive the business and employment in the tech startup space.


People at the heart of business
In simple terms, employee engagement will remain at the centre of all HR activities. In today's era of big data and mobile apps, employee engagement will also be driven by technology. The technology landscape is being rapidly disrupted by innovations which offer varied solutions to have a highly engaged and motivated workforce. HR skill sets, should be aligned to address the rapid disruptions happening in the employee engagement 2.0 space.