2021 top human resources Trends & Predictions you should know about! (part 2)
On the first part of this article, we listed five HR trends and predictions of 2021 each company and HR specialist should know about.
In today article we will continue presenting the second part of these trends going from the Data driven HR to the deepest role in the corporate strategy.
- Improved benefits to increase Retention.
Recent research shows that more than a third of today’s companies are offering modern benefits to their employees compared to last years.
This means that organizations are trying to change their benefit package and compensation to be retaining and attractive to the modern employee.
Aside from advantages like parental leaves, flexible schedule, a lot of companies offer now benefits that support critical life events.
For instance, companies might think of new ways to encourage and retain their workers like transformation assistance, gender reassignment or expanded fertility benefits. Aside from non-health benefits, organizations are now offering benefits including financial wellness programs, flexible schedule, telecommuting possibilities and more casual dress code on the workplace.
Thus, HR experts can use those modern benefits to increase employee’s retention and loyalty.
A customized and comprehensive approach in benefits offering can give organizations a competitive advantage over their competitors in the recruitment and retentions of their working forces.
- Blockchain improves security.
Having to deal with all employees Data and files, HR teams are naturally handling a huge amount of data, which make HR specialist expect newer versions of blockchain technologies to be more performant and able to make a new impact on the sector.
Thank to the decentralization method, blockchain recent updates promise to provide long-term security and privacy for sensitive employee information.
In fact, data security is a real pressing issue today especially with the increasing number of employees using self-service platforms, the implementation of GDPR and the fast adoption of cloud-base software.
With these new blockchain improvements and technologies, HR teams will be more able to create secure, highly detailed employees’ records, automate data-heavy process including payroll or tax administration, verify employment history and candidate’s identity.
Blockchain base tools like smart contract, adapt management for HR teams. These contracts facilitate the task of recording, verifying transaction and tracking alterations for all the included parties. These contracts also remove the need for any manual intervention in the approvement process of each transaction.
- More Data driven HR
HR Department usually deal with heavy data, and it is time to start using those valuable informations to get more significant results and recommendations through HR analytics.
Thanks to HR analytics, experts can get more deep and detailed insights from the collected data to conduct more smart decision and prediction about the global HR strategy and the working force programs. These data-based insights will be very useful for business leaders and HR strategists.
Analytics can be applied to a wide range of metrics including turnover rate, absenteeism, revenue per employee, or offer acceptance rate.
HR analytics will not only allow for HR specialists to get significant numbers and insights from those metrics but they will also be able to dive into the deepest reasons behind those numbers. In fact, they will be even able to make prediction and come up with new solutions to all the actual HR issues and difficulties.
HR professionals will also be able to use HR analytics to find correlations with metrics like promotion wait time, pay increases or turnover rates. These elements can give more details and understanding of the reasons behind employee’s resignation which can help HR teams create more realistic employee’s retention plans.
- HR teams more powered by AI and VR
Nowadays HR teams have a large choice of advanced technology in their hands.
Three emerging HR technology trends that continues to attract specialists in this field are: Virtual reality (VR) , AI and robotic process automation.
- Virtual reality
VR technology is one strong tool that can facilitate employees’ section, recruiting and training.
This technology is particularly useful to screen employees that conduct hands-on labor.
This means that VR technology help candidate to demonstrate their practical skills. Aside from talent recruitment, VR can be very useful with training and onboarding especially in high risk ad stress professions.
This technology enables mangers to add new hires to the working environment in a controlled and more safe way.
- Robotic process automation
HR practitioners see more than ever the importance of the urgent need of the adoption of AI, VR and robotic process automation (RPA).
This last technology PRA make employees onboarding much easier to handle for HR managers.
Once the candidate is hired, the RPA tools will automatically update the candidate tracking system, create new record for company use and gather all the employee needed documentation.
Thank to the automation of less important and low-level tasks, HR experts and recruiters can focus on high value tasks like process that boost employee’s engagement, motivation and retention rate.
- Artificial intelligence means
Advanced companies across the world have already started the implementation of AI technologies into their working processes.
This technology is highly beneficial for talent acquisition specialist, and recruiters who are now able to use AI based tools for applicant sourcing, screening and assement.AI seems also to improve employees experience. This is quite important because a better managed candidate experience can give the company the advantage they need to hire and keep the talents they need.
AI can even help HR teams to discover the employees who are considering to hand in their resignation. Some AI tools can analyse employee computer activity to detect and report outliers in activity patterns for the company. More advanced AI systems can even figure out changes in the employee communication tone.
10. Deep roles in the corporate strategy
Seeing the relevance of HR professionals in each organization, experts predict that this crucial function is about to take a more impacting role in the creation of the corporate global strategy.
This sounds natural since HR specialists control the most valuable insights and predictions on the work force performance and the way they affect the company bottom line.
By giving them a more strategic value in the organization, HR teams can take a bigger and more active responsibility to drive business and human growth.
This means that HR professionals will expect a new generation of HR jobs and specialization to show in the upcoming years.
Organization will soon have HR data analyst and scientists, talent acquisition specialist, employee experience experts in the HR Department.
Certification will be an essential criterion in each HR professional career, the more certification they will get the higher strategic value and position they will acquire.
Those have been the 10 HR trends and predictions for 2021 year, we can say that the digitalization of this sector will be an inescapable step, including more automation, VR and Ai technologies allowing HR professional to control more heavy data, get valuable insights and improving employees experience, motivation and retention rates.