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GettyThe way businesses operate today is very different from how things were five or 10 years ago, so it should come as no surprise that how we work is also evolving.
Today, we are witnessing a level playing field in the competition for talent among nonprofits, research institutions and businesses with the rapid innovation and adoption of technology and the rise of the gig economy. While they may appear a relatively small but growing community of people of all skill levels, the gig economy is a tangible demonstration of people who are taking advantage of the technology options to enable their own entrepreneurial spirit.
Of course, while there are trends and patterns across different demographics, it is clear that embracing technology will be the driving force for senior leadership to meet — and exceed — the needs of their people. With this in mind, we partnered with Hanover Research to discover how industry leaders are addressing the challenges and forces of change in the next decade. In short, company leaders anticipate a workforce that looks quite different from the present day.
1. In the future of work, tech is an enabler, not a disruptor.
Progressive organizations recognize technology can change the game from a productivity perspective, and it will also play a critical role in upskilling and reskilling the workforce.
But the challenge is, simply, change. For many, technology is seen as disruptive to the status quo. Individuals and organizations alike view it as disrupting the very nature of work and how it’s done. According to Deloitte, citing the World Economic Forum, “the division of labor between people and machines is expected to continue to shift toward machines.” While this could eliminate at least 14% and disrupt 32% of today’s jobs, there’s also evidence of technology augmenting human efforts and contributing to new job creation.
The key here lies in how well organizations create collaborations between humans and technology, which will require a holistic, people-centric HR strategy. While every situation is different, in moments like this, leaders should ask themselves three questions:
• How can technology be used to automate elements that improve efficiency?
• How can technology provide us with insights to ask better questions and make smart decisions for the workforce?
• Does technology create an engaging workplace experience?
2. Minding the skills gap will be essential.
Over the past decade, rapid innovation led to a discrepancy between skills workers have and those needed by businesses to remain competitive. Our report found that 19% of organizations in the U.S. are currently facing a significant skills gap, with more than half anticipating one in the next two years. Looking to the future, it is encouraging to learn companies are starting to take action, with the majority prioritizing addressing this skills gap by reskilling their existing workforce.
As automation replaces routine and manual tasks, businesses need to be more progressive in how they address the skills gap. Part of this will be rethinking the approach to learning. People are best served learning in the flow of work — in the moment, through experience and continuously over time. Focusing more on educational partnerships, producing skills they’ll need for the future will also benefit organizations over the long term.
3. The role of the CHRO more critical than ever.
As organizations ready themselves for change, HR plays a critical role in navigating the transformation that is underway across the globe. The majority of organizations have a CHRO or equivalent role as part of the senior leadership team, and moreover, 88% believe having HR representation on the senior leadership team is extremely or very beneficial to ensure a better alignment of the workforce to business goals.
This reinforces that no matter the pace of change, one thing has stayed the same: Your people are key to your organizational success. Having HR represented in the C-suite relates to effectively recruiting, deploying and developing people.
For HR leaders, the best way to prove their worth is by starting small, being agile and driving value that positively correlates to the bottom line. With large volumes of data readily available, HR leaders have to be deliberate in leveraging the right data — driven by emerging technologies like machine learning — to uncover opportunities for improvement and produce transformative experiences. Demonstrating the value HR delivers to the organization can be done when HR leaders understand what's meaningful and impactful to the business.
4. The alternative workforce is now mainstream.
A recent report from advisory firm Staffing Industry Analysts (SIA) found that total global gig economy spending hit approximately $4.5 trillion in 2018. Meanwhile, the passing of California’s landmark Assembly Bill 5 signals the start of a potential future shake-up for employers when it comes to how they manage their alternative workforce. This signals the time for a mindset shift. Leaders need to stop thinking about the alternative workforce as something that’s still on the rise and start exploring how to leverage these individuals.
With the reliance on these new types of work arrangements to adapt to the new pace of business, building the right strategy to leverage them successfully is crucial. Companies that can personalize the employee experience for alternative workers — offering the right combination of flexibility, stability, respect and equality for each type of worker — will likely see business benefits in return.
While organizations can’t control the forces that are driving change, they can control how they respond. In a world of work that will be increasingly defined by the collaboration between humans and technology, successful organizations will need to seek opportunities to enhance and derive value from these collaborations. This requires decision-makers to adopt a people-centric strategy that is transformational, not simply reactive, and puts a significant onus on advancing and diversifying the skill sets of their most valuable investment: their people.
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December 30, 2019 at 07:43PM
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The Future Of Work Is Already Here -- Is Your Company Prepared? - Forbes
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