The Workforce Institute at Kronos is known for its research on critical workplace issues that organizations around the world face. It recently officially released its annual list of the “Top 6 Global Workforce Predictions.” Below we will explore some of those predictions considering the modern workforce.
AI and machine learning unmask previously-hidden workforce data to make people-centric decisions.
According to The Workforce Institute’s predictions, AI and machine learning will seamless integrate in to the day to day management practices and reveal the unused data that organization have been collecting for years.
“With regular and digestible access to workforce data trends – like scheduling accuracy, absenteeism, overtime usage, and burnout – predictive analytics will shine, helping organizations head-off potential issues before they arise. Intelligent automation will also free up managers from admin-heavy tasks – like managing schedules, approving time-off requests, and shift changes – while encouraging data-driven decision-making to provide clarity between what is equal versus what is fair.”
Historically tight labor markets and emerging technologies put people managers in the spotlight.
This year, The Workplace Institute predicts that employers around the world will face a historically tight labor market and that hiring and retaining employees will become very cut-throat.
“Organizations will place an increased focus on leadership development as a retention strategy – especially as Millennials flock to middle management – and measuring manager effectiveness will be HR’s top challenge in 2019. Additionally, as AI and machine learning take over mundane managerial tasks, freeing up managers to spend more time with their people, deficits in leadership competencies will be exposed as management expectations continue to shift from a historical command-and-control model to a horizontal style that considers all perspectives and seeks innovative ways to inspire, develop, grow, and keep the top talent that drives business value.”
The changing face of education redefines trades and challenges traditional hiring practices.
Considering the rise of certificate and micro-credential programs, The Workforce Institute predicts that the importance of a college education will diminish and HR managers will instead look for skills.
“Competencies that once required a degree – such as coding, robotics, and data analytics – are being redefined as skilled trades with the rise of certificate and micro-credential programs. Also, as yesterday’s jobs become augmented by automation, new skills will be required for traditionally “blue-collar” roles. Employers must revamp their hiring profiles and remove traditional job requirements to tap into this new pool of qualified candidates who will staff the shop floor, store floor, hospital floor, and top floor of the future. And, as Millennials become parents, many will likely urge their school-aged children to take an alternative educational path for a brighter financial future.”
Further fracturing of employment laws globally, nationally, and at the local level strain organizations.
The Workforce Institute predicts that as labor and employment laws are continuously changing, organizations will be under tremendous pressure to avoid sanctions, files and will have to look for better ways to remain compliant.
“Technology will be vital for organizations to manage scheduling-related mandates, ensure unbiased practices, monitor fatigue and overtime management, and ensure employees are paid accurately and fairly – all while providing analytical insights that surface risky managerial practices otherwise buried in a sea of employment data.”
Employee-agnostic flexibility, consumer-grade tech, and the rise of the occasional time worker redefine “work your way.”
The Workforce Institute also predicts that the “gig economy” will have a massive impact this year, and many organizations may consider replacing traditional hiring to a certain extent.
“Mobile-friendly processes, self-service features, and immediate access to real-time data in a consumer-grade technology wrapper will help drive the next iteration of the flexibility phenomenon, as predictability of anytime work will empower employees to be more productive, make more intelligent decisions, and be more engaged.”
Greater emphasis on disaster preparedness as part of a holistic human capital management strategy.
The Workforce Institute predicts that in 2019, organizations will place a greater emphasis on “disaster preparedness” as well as on company culture. Workplace culture will take on a greater role as managers handle both on-site and contingent workforce.
“Disasters large and small, natural and man-made, have unfortunately become the norm. Organizations worldwide have been challenged to respond effectively to increasingly frequent crises, with HR, operations, and payroll forced to take center stage in the lives of affected employees. With more emphasis on company culture, caring, and “doing what’s right” in a world where disasters – and a company’s response to them – are frequently in the news, there is a new level of expectation for an organization’s response, responsibility, and employee benefits.”
These six predictions presented by The Workforce Institute and Kronos will help companies and executives to understand some of the latest and upcoming trends in the dynamic world of global business. Additionally, it will also help human resource executives and company executives better prepare for the years ahead so they can stay ahead of the curve and make good decisions for themselves and their employees.