Human resources are one of the ever-changing fields, and it has never been essential to developmental organizations across the globe. HR has the authority of revolutionizing how work is done using new technologies and data; however, what are some of the trends we expect in the next decade. Here are some of the significant key trends that will shape the future of HR leadership as well as the future of business in the next decade.
1. AI and Automation will become a commonplace
It has already been approved that manual labor work is falling and systematically being replaced with machines. But machine learning implies that the robots will take a toll on many cognitive rules as compared to human counterparts. The idea will change the workforce and workplace radically. HR will be required to find as well as maintain balance among the human labor and machine workforce for the sake of the scope of the future.
2. Performance Management will be replaced
The approach to performance management currently, with annual reviews, ratings, and feedback, fails in rewarding and encouraging consistency in achievements. Therefore, simultaneous failures do not improve the performance because of lack of motivation. As we are moving to the new decade, feedback and continuous feedback will be the norm, leaning as well as the development will also be more established into day to day work activity.
3. Online Training will cut costs and increase results
While learning and coaching are becoming the main tasks in each role, online learning will promote on the job learning while supporting the points of need into the limelight. While using modern gadgets, employees will be able to get access to every information they may need and at the time when they require it. According to research, online learning reduces the time spent in training. Therefore, this translates to increasing return on investment and allows different departments to plan their budget and have a significant impact on their workplaces.
4. HR Tech will allow for personalization, even at large companies
Different people have diverse needs, motivators, and desires. But companies at large find it impractical to offer incentives that fit every individual mindset in ways of learning SMEs. The data management systems that are complex and AI allows the HR to understand their employees truly and offer rewards and professional development as required.
5. Millennials will need new ways of working
By 2030, 75 percent of the workforce will be from the millennial era. They will implement new working styles and social values in the workplace. Most millennials consider work-life balance as well as progression to be essential than stability and compensation benefits. This is, therefore, a significant shift from traditional working styles. This means that HR should adapt to the changes of millennial employees' needs and attract and retain their talents.
Finally, the landscape of Human resources is likely to change in the next decade than it did in the previous three decades. Although you cannot predict the future, you should be prepared for it and make the necessary changes beforehand to stay ahead of your competition.
Girish Rohra Chawla
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