by admin | Jan 2, 2024 | Human Resources
With the arrival of 2024, Human Resources professionals are contemplating the future. Everyone is looking into that crystal ball to try and understand what the most pressing issues in talent management will be.
HR Exchange Network is no different, so we turned to the experts on Featured to ask what they think will be the biggest trend of the coming year. Discover their predictions:
THE EMERGENCE OF THE “HIDDEN WORKFORCE”
“With so many employers still facing talent shortages, 2024 will be the year of the ‘hidden workforce.’ This refers to the 27 million Americans who are often rejected or underutilized because of unfair hiring practices, like caregivers, retirees, or neurodivergent professionals.
In 2024, you can expect to see more employees taking on technology and recruitment strategies that help them dig into this unexplored segment. Technology makes it easier to tap into the hidden workforce and simultaneously customize workflows so that diverse hires are set up with the right tools for success.”-Robert Kaskel, Chief People Officer, Checkr
PRIORITIZING DATA PRIVACY OF EMPLOYEES
“I believe that in 2024, a significant HR trend will be the heightened prioritization of employee data privacy. With the shift toward remote work and digital operations, the importance of securing employee data escalates. We expect HR departments to introduce advanced data-protection measures and privacy-centric policies.
For instance, companies may adopt end-to-end encryption for internal communications and invest in training staff to recognize and mitigate data risks. This rising priority on data privacy not only safeguards against data breaches but also signals to employees that their personal information is respected and protected, further reinforcing their commitment to the company.”-Nuria Requena, Talent Acquisition Manager, Spacelift
INTEGRATING AI IN HR
“In 2024, I anticipate a significant advancement in integrating artificial intelligence within HR technology. Many HR professionals will learn to leverage AI to their advantage. Notably, in recruitment, AI has shown efficiency through streamlined candidate screening, a reduction in unconscious bias, substantial time and cost savings, and an elevated candidate experience marked by prompt and personalized responses.
An HR trend I hope to increase is remote and hybrid work models. Many roles do not necessitate a physical office presence, and the benefits of remote work are manifold. I encourage all employers to critically evaluate their organizational structure to identify opportunities for implementing and optimizing remote and hybrid work arrangements.”-Antwan Robertson, HR professional
ADAPTING TO NEW WORKFORCE DEMOGRAPHICS
“Adapting HR systems and practices to changing workforce demographics will be one of the leading HR trends going into 2024 and beyond.
As workplace technology evolves, the workforce demographics are growing as well, and many HR teams find themselves having to support and meet the needs of their workforce. Choosing to focus on one or the other is no longer a realistic solution, and HR needs to adapt its practices to serve both its aging and young workforce.”-Max Wesman, Chief Operating Officer, GoodHire
REBRANDING HR AS “PEOPLE & CULTURE”
“In the next year, I foresee more and more HR departments rebranding to “People & Culture.” This signals a systemic shift in how the function operates and views its role within an organization. It is the next step in the function’s evolution, which originated as “Personnel,” to the current state, “Human Resources.”
Today, more and more are rebranding to “People & Culture” to show the value and priority of the two most important aspects of their organization—the people and the culture. When both are thriving, the business will equally thrive. In contrast, if either is suffering, it will be evident in business outcomes. “People & Culture” teams play a critical role in shifting HR from a paper-first, transactional department to a people-first, transformational pillar of the business.”-Lindsey Garito, Director of People and Culture
MORE COMPREHENSIVE DEI INITIATIVES
“One trend we foresee is a growing recognition of the need to encompass various aspects of diversity, including race, gender, sexual orientation, and disability, within DEI initiatives. Organizations are expected to adopt more comprehensive and inclusive approaches. Additionally, there will be a continued focus on promoting mental health, emphasizing the creation of a supportive ethos, and offering resources. As remote work becomes prevalent, organizations will grapple with DEI challenges related to a globally diverse workforce, addressing cultural differences and remote inclusion.
Continuous education and training on DEI topics will therefore persist as a key trend, with a focus on cultivating an inclusive culture and minimizing bias. Also, there may be a greater push for transparency in reporting and accountability to showcase progress in DEI efforts.
To navigate these trends successfully, organizations will need to engage with DEI experts and adapt their strategies to foster a more inclusive workplace.”-Arundhati Chafekar, Principal Consultant, Vertical Lead – Learning and Strengths, NamanHR
FORWARD-LOOKING HIRING STRATEGIES
“In 2024, I expect one significant trend in HR to be the intensifying competition for top talent. This development follows a period where companies have become more adept at retaining their existing talent pools post-pandemic. As a result, attracting the best candidates for new positions has become more challenging.
In response to this trend, HR and talent acquisition professionals should adopt a more forward-looking approach to their hiring plans. They should start the recruitment process early and maintain a consistent effort to build and nurture a talent pipeline. Fostering relationships with target talent ahead of time can also give companies a competitive edge in securing the right candidates when the need arises.
This proactive approach is vital in a job market where availability is often characterized by the urgency of yesterday’s needs.”-Katie Tu, Managing Director, Kepler Search
DEI AND CONSTRUCTIVE ARGUMENTS
“With more and more attention being brought to DEI issues globally, I foresee more conversations and demand for solutions that consider cultural contexts. Similarly, I see an integration of conflict-management principles into DEI and HR work, where disagreements and conflict are not avoided or seen as destructive, but to collaborate and problem-solve.
This also reflects the shift of DEI work from purely the role of a select, passionate few into the hands of every working professional to prioritize the cultivation of diverse, equitable, and inclusive environments in the workplace and beyond.”-Xin Yi Yap, Global Diversity, Equity, and Inclusion Product Manager, Aperian
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Oct 4, 2023 | Hot Topics, Human Resources
Pushback on Remote Work
Nowadays, many employers are insisting that workers return to the office in full force. Last week, HR Exchange Network reported on Goldman Sachs enforcing a five-day RTO rule. The Street recently reported on how Dimon longs for the same at JPMorgan Chase. This is not new news. Some have suggested the big banks are concerned about compliance with However, The Street speculates that Dimon is most interested in strict RTO as a result of the organization’s real estate investments.
Walmart Lowers the Minimum Wage
Apparently, Walmart is paying some new hires less than it was paying others three months ago, according to the Wall Street Journal. The writer suggests that this is a sign that companies are trying to cut labor costs after significant wage increases during the Great Resignation. Most new hires will now earn the lowest possible hourly wage for their store.
“The wage-structure change comes after Walmart and other large employers have for years steadily raised wages and added benefits to attract workers in a tight labor market. The retailer’s latest move suggests that the stresses companies are facing in trying to find employees are easing and that they need to find ways to offset those wage increases,” according to WSJ.
UAW May Strike
The summer of strikes might just turn into the fall of strikes. The United Auto Workers (UAW) told General Motors that their proposal was insulting, according to CNBC. The contract for GM’s 46,000 UAW-represented workers included a 10% increase in wages. But the union rejected it and within days the UAW may go on strike.
“Despite the proposed wage increase being the largest under a UAW contract since 1999, it still falls far short of the union’s demands of a 40% hourly pay increase, a reduced 32-hour workweek, a shift back to traditional pensions, elimination of compensation tiers, and restoration of cost-of-living adjustments, among other items on the table,” according to CNBC.
Millennials Are the Hybrid Workers
LinkedIn is sharing data points from its latest Workforce Confidence survey, and it showed a difference in the way generations are experiencing work at the moment. About 20% of Millennials, compared to 17% of Gen X and 15% of Baby Boomers, are hybrid workers.
Cybersecurity Sees Layoffs
Cybersecurity was once considered a safe role to have because of the great necessity to protect data and technology from breaches. However, in the last month, nine cybersecurity companies have laid off employees, according to Axios. IronNet, Malwarebytes, Fortinet, NCC Group, Rapid7, Dragos, HackerOne, and Bishop Fox are among those that cut jobs. The publication reported that the companies have cut between 10% and 20% of their workforce, which amounts to hundreds of layoffs.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Aug 31, 2023 | Human Resources
Many in Human Resources talk about talent management in abstract terms but much of it has to do with helping people with habit formation. Indeed, HR can teach people to develop patterns of behavior that will contribute to the success of the individual and the organization. They can work with individuals and teams to ensure these good habits form over time.
Anastasia Buyalskaya, Assistant Professor of Marketing at HEC Paris, recently talked to HR Exchange Network about her research related to habit formation. The findings can assist HR professionals as they seek to offer employees the necessary tools for creating a healthy life and the means to achieve positive business outcomes. This study is a revelation because it undoes some of the myths about good and bad habits. It relates to the book Atomic Habits, which was on the 2022 HR Summer Reading list and is worth revisiting now.
Is It Possible for Employees to Form Good Habits?
In the meantime, discover what Buyalskaya shared about this study and helping people deploy positive patterns of behavior:
HREN: Briefly describe in easy-to-understand language the study and explain the connection between machine learning and habit formation.
AB: The study conducted by behavioral scientists at HEC Paris, Caltech, University of Chicago, and the Wharton School at University of Pennsylvania challenges the commonly held belief that it takes 21 days to form a new habit. In fact, the researchers found that there is no “magic number” of days required to form a habit. The time it takes to develop a habit depends on various factors, such as the behavioral domain – for example, a simple motor habit will take a shorter period of time than a complex habit which requires planning. The study also looked at how individuals respond to changes in rewards. The study revealed that once a habit is formed, individuals are less likely to respond to changes in rewards than those who have yet to create a habit.
HREN: What are the big takeaways?
AB: The big takeaways from the study are that there is no fixed number of days required to form a habit, and the time it takes varies depending on factors like behavior complexity. Contrary to the popular belief that it takes 21 days, the study found that it takes approximately two weeks or nine to 10 shifts for a habit to form (hand sanitizing, for example). However, forming a habit of going to the gym takes much longer, on the order of several months.
HREN: Why is this good information for those in Human Resources to have?
AB: This information is valuable for those in Human Resources because it provides a more nuanced understanding of habit formation in real-world scenarios. HR professionals can use this knowledge to design effective strategies for promoting healthy habits among employees. Secondly, the study suggests that it is easier to motivate individuals who have not yet formed a habit, highlighting the importance of early intervention. HR teams can focus on incentivizing and encouraging employees to adopt healthy habits soon after they join the company before these routines become ingrained.
HREN: What kinds of practices could we recommend to those in HR trying to help their workforce?
AB: To help their workforce, HR professionals could recommend practices such as implementing reward systems, providing education and training on healthy habits, and creating a supportive environment that encourages behavior change. Offering financial or social incentives to develop healthy behaviors early on in an employee’s journey with a company may be particularly effective at kick-starting habit formation. Secondly, HR can promote awareness and education about habit formation, helping employees understand that it is a process that varies depending on the behavior and individual.
HREN: Is there anything else you’d like to share? If so, what?
AB: A machine learning technique was used in the study. Machine learning is very useful for analyzing and interpreting large amounts of data on human behavior. HR professionals may also consider building up data science capabilities to apply some of these machine learning algorithms to their own datasets and therefore be able to study habit formation and uncover other patterns of behavior among their employees.
By Francesca DiMeglio
Originally posted on HR Exchange Network
by admin | Aug 7, 2023 | Human Resources
Gallup recently sounded the alarm on the employee engagement crisis. A survey revealed that nearly 60% of 120,000 of the world’s workers are quiet quitting or not engaging, and 18% are actively disengaged, which Gallup labeled as loud quitting.
This is a surprise to the public, but Human Resources professionals saw this coming. In the State of HR survey, they listed employee engagement as their number one priority and burnout as the biggest challenge. In 2022, employees had returned to pre-pandemic levels of engagement before media attention turned to quiet quitting. This was a phrase used to describe people setting boundaries with their employees, sticking to a fixed schedule, and meeting requirements of their job without going above and beyond.
What Is Loud Quitting?
In the early days of quiet quitting, many in HR rolled their eyes because this was nothing new and workers have a right to set boundaries. Not everyone has to be ambitious. Sometimes, it’s just about fulfilling basic duties to earn that paycheck.
Loud quitting is distinctly different. It’s akin to burning bridges, which HR Exchange Network does not recommend in any instance. Workers simply don’t know if their paths will ever cross with these employers, HR professionals, or colleagues again. It breeds a lack of trust and can mar one’s reputation. Gallup uses this definition to describe loud quitting:
“These employees take actions that directly harm the organization, undercutting its goals and opposing its leaders. At some point along the way, the trust between employee and employer was severely broken. Or the employee has been woefully mismatched to a role, causing constant crises.”
This is a serious charge. At a time when the world is grappling with an uncertain economy, and the World Bank warned that businesses may be facing a decade of decline without economic growth, this news is even more disturbing. After all, Gallup estimates that low engagement costs the global economy $8.8 trillion and accounts for 9% of global GDP. Imagine how that plays out in one company.
How Should HR Respond?
Human Resources must pay close attention to employee engagement and experience. This is a challenging time for everyone. People are experiencing anxiety that lingers from the pandemic and is exacerbated by financial concerns. In addition, many companies, especially in the tech sector, are conducting layoffs, hiring freezes, budget cuts, and restructuring. This means those who are still employed are taking on more work, which can lead to feeling overwhelmed at best and burnout at worst.
ADMIT YOU HAVE A PROBLEM
Human Resources must be attentive to what’s happening with employees. Using feedback surveys allows HR to hear from workers and recognize if there are problems. However, even without feedback surveys, HR professionals can use their eyes and ears to recognize if people are being overworked, having issues with managers and colleagues, or simply checking out.
MAINTAIN FOCUS ON MENTAL HEALTH AND WELLNESS
In the Gallup survey, 44% of workers said they experienced a lot of stress the previous day. The circumstances of work today by themselves are causing anxiety. Therefore, mental health and wellness benefits must remain a priority. Employees have come to expect companies to show their care and concern by providing them with the means to tend to their physical and mental health. When employers are asking people to do more with less, they should be prepared to help them deal with the consequences.
KEEP AN EYE ON DEI EFFORTS
In the last year, diversity and inclusion programs have taken a hit. Employers laid off DEI leaders or cut resources. But DEI is vital to employee engagement. Providing people with that sense of belonging and making them feel heard and valued, which are all part of any decent DEI program, are essential to keeping people engaged.
HELP MANAGERS BE BETTER
Many in HR have said, “People quit managers, not jobs!” This mantra is often said because it is true. In fact, Gallup suggests that HR address this engagement crisis by focusing on top talent and giving them better managers. The fact is that HR has been asking much of managers these days.
In addition to ensure tasks get done, projects are completed, and results improve, they also must show empathy, help people with their wellness and well-being, and encourage a culture of inclusiveness. These are not easy tasks, and many never get training or help meeting these goals. Training managers on both hard and soft skills prepares them for the new expectations of employees and positions them to garner more engagement.
By Francesca Di Meglio
Originally posted on HR Exchange Network
by admin | Jul 10, 2023 | Human Resources
Artificial intelligence (AI) is creating a swirling sense of anxiety, depression, excitement, and joy all at once. Many people want to use AI to make their work easier, to become more efficient. However, they are also fearful that the robots may replace them.
Human Resources professionals have an obligation to prepare the workforce for a future in which AI is at the center. At the moment, the job requires calming people about their concerns and devising a clear and credible game plan for AI as tool and threat.
Recently, HR Exchange Network asked respondents on Terkel.io to share how they are working with their teams to understand AI’s role in the workplace. Here is what business and HR leaders had to say:
Create a Culture of Continuous Learning
“To prepare employees for the more extensive use of ChatGPT and other AI and automation tools that may replace some of their work, I focus on encouraging them to become lifelong learners.
I also intentionally use language about adaptation versus replacement, clarifying that my team’s jobs will evolve rather than disappear. I want to arm them with the skills they need to stay current in this ever-changing world.
For instance, I firmly believe in providing courses about advanced analytics, machine learning algorithms, and data science so employees can understand what is happening under the hood of new technology. This helps our team develop a better understanding of how these systems operate and may help them gain more meaningful roles as the development of artificial intelligence grows.”-Carly Hill, Operations Manager, Virtual Holiday Party
Integrate AI into Work Functions
“The extensive use of ChatGPT and other AI and automation tools is inevitable in the future of work. We, as a company, have been proactively preparing our employees through continuous learning and development programs.
We have integrated AI tools into our workflows to reduce manual workload and make operations more efficient. Our employees are encouraged to learn and explore these tools, and we have offered training sessions to upskill them on how to use AI tools and automation software.
We emphasize that AI and automation do not necessarily replace their job functions, but rather enhance their productivity and efficiency. We assure our employees that we are committed to their growth and will support them in adapting to the latest technologies to build a better future for our company.”-Jefferson McCall, Co-founder and HR Head, TechBullish
Use AI as a Tool
“We believe that the rise of AI and automation tools like ChatGPT represent an evolution of work rather than a replacement of human effort.
We make it clear to our employees that while AI is powerful, it doesn’t replace the unique human skills they bring to the table. Creativity, critical thinking, emotional intelligence, and nuanced understanding of complex issues are irreplaceable human strengths.
We’re also investing in training programs to help our employees understand and work alongside AI tools. The goal is to upskill our workforce, enabling them to use AI to augment their capabilities and improve productivity, rather than viewing it as a threat.
We see AI as a tool that can take over routine tasks, thereby freeing up our team members to focus on more complex, creative, and strategic aspects of their roles.”-Bowen Khong, CEO, GameDayr
Use AI to Enhance Efficiency
“We are training our employees to use ChatGPT and other AI and automation tools and to take advantage of these new technologies to increase their productivity. We are emphasizing to employees that these tools represent an opportunity to do more meaningful work and to improve their skills.
We are also emphasizing that these tools are not a replacement for employees, but rather an enhancement that can help them be more successful in their roles.”-Ranee Zhang, VP of Growth, Airgram
Be Honest: Robots Will Replace Some
“To prepare for the possible effects of AI and automation on their workforce, businesses should anticipate potential job losses because of automation and develop strategies for relocating affected workers.
To help workers adjust to shifting work requirements and schedules, businesses can consider offering alternatives like job sharing, flexible schedules, and remote work.
However, AI might also be investigated for its potential to supplement and improve the job of existing employees rather than replace them.
Data research, AI development, and automation engineering are just a few of the fields where AI is spawning new employment opportunities. These positions call for expertise in great demand, yet may be hard to fill.”-Aleksandar Ginovski, Career Expert, Resume Expert, and Product Manager, Enhancv
Consider Tools to Simplify AI
“While we are preparing our team for the inevitable integration of ChatGPT’s AI, we also want them to understand that companies are bringing out easier-to-use tools that make ChatGPT significantly easier to use.
Right now, many of those tools are glitchy and not all that helpful, but some are proving to be extremely powerful. So at our company, we are paying attention to the integration tools as much as the AI.”-Jason Vaught, Director of Content, SmashBrand
Embrace Artificial Intelligence
“For years, I have said to my students and employees to embrace technology and keep up with it. I have seen the difference that being tech-savvy (and the efficiency that comes with it) makes in hiring and layoff selections.
ChatGPT, AI, and automation are fascinating to me, not just for what they do but for the conflicting emotions they bring—fear and excitement. I see them more as how they help us leverage the unique skills our employees bring and let these tools enable us in our work. I contend that a core competency for the future of employees’ work will (it already does) require and demand a mindset for change.
Taking a less fatalistic view of technology, understanding and learning how it can help us, and using it helps diminish that anxiety, helps employees learn the technology, and start or continue their journey to embrace it.”-Patty Hickok, SPHR, GPHR, SHRM-SCP, Sr. Director Employee Relations, HRIS and HR Operations, NANA Regional Corporation
Be Transparent
“If you’re establishing a position for AI in your workplace, then it’s important that you let your employees know about AI and how it could affect their current positions. This is especially important for older employees who might need to be more adaptable to this type of technology.
Talk to your employees about the fact that AI and the range of automation tools are here to stay—and it’s only going to get bigger in the future. If your employees may find their positions at risk in the long run, tell them and be honest. This would allow employees to make important decisions, such as whether they want to stay in the career path they are in right now or rather want to move to a different career line.
At the same time, empower employees and show them how AI can be used alongside them in the workplace.-Joe Flanagan, Founder, 90s Fashion World
Stay on the Cutting Edge
“While AI and automation can replace some marketing tasks, they will not replace marketing employees altogether. Instead, AI and automation will free up marketing employees to focus on more creative and strategic tasks.
We are working on educating employees about the benefits of AI and automation. AI and automation can help marketing employees to be more productive, efficient, and effective.
Then, we move to help employees develop new skills. As AI and automation take over some marketing tasks, employees will need to develop new skills to stay relevant in the workforce. Some skills that will be in high demand include data analysis, creativity, and strategic thinking.
And finally, we are creating a culture of continuous learning. The marketing landscape is constantly changing, so creating a culture of continuous learning within your organization is important. This will help employees to stay up-to-date on the latest trends and technologies.”-Brenton Thomas, CEO, Twibi
Get Smarter with AI
“In the SEO industry, we’re preparing for AI tools like ChatGPT by integrating AI literacy into our training programs. Our teams are learning to use AI for deeper keyword research, smarter content optimization, and predictive SEO analytics.
We also encourage employees to develop soft skills like strategic thinking and creativity, which are vital in interpreting and leveraging AI-driven insights.”-Jaya Iyer, Marketing Assistant, Teranga Digital Marketing
Embrace Humanity
“I think it’s important that we don’t frame AI as the enemy; rather, it is going to be helpful across all industries and help with all sorts of tasks. But AI will not replace the human experience, and we need to set the understanding with employees that at the end of the day, AI can help increase the greater good in a business setting.
Given the value ChatGPT has already brought, AI will continue to present itself as intelligence that can be used universally. Rather than creating stigmas, managers should be continuously trying to answer the question: ‘What can AI do to help my current business processes, and how can my employees make AI-driven processes the best they can be?'”.-Ryan Igo, Revenue Marketing Manager, Surety Systems
Think of AI as an Ally
“Our message is clear: AI is not here to replace our employees but to assist and enhance their work. We emphasize that staying ahead means embracing these advancements. We encourage employees to view AI as a powerful ally that can streamline tasks and create new opportunities for growth and innovation.
By fostering a culture of continuous learning and reskilling, we empower employees to harness AI’s potential while emphasizing the irreplaceable value of their unique skills, creativity, empathy, and problem-solving abilities.”-Marco Genaro Palma, Co-founder, TechNews180
By Francesca DiMeglio
Originally posted on HR Exchange Network
by admin | Jun 27, 2023 | Hot Topics, Human Resources
Workers want higher pay, more flexibility, and support from employers, according to ADP’s People at Work 2023 survey. HR professionals can compare the results with their own responses in the most recent HR Exchange Network State of HR report.
Specifically, more than 40% of employees said they are underpaid. The most satisfied employees were those with a hybrid schedule, and the least satisfied were those who worked exclusively in-person. About 47% of respondents said that their work is suffering because of their poor mental health, and about 65% said stress impacts their work.
Recently, ADP Chief Economist Nela Richardson sat down with HR Exchange Network to provide insight into worker’s needs during this fraught time in history, when organizations are simultaneously facing a labor shortage and a possible looming recession.
Important Takeaways about What Employees Want
HREN: What are the biggest takeaways from your study?
I think there are a couple of really good takeaways. We’ve been asking people [questions] for this work study for three years, and we’ve seen some amazingly impactful results from the pandemic.
The first takeaway is that the trends we’re seeing are starting to stabilize. When we first did this research after the pandemic, the global workforce was really shaken up. You had one-quarter of folks who had lost their jobs or were furloughed, people taking pay cuts, they saw their hours reduced, they saw their friends leave the company, they were given more responsibilities than they had before just to fill in those gaps.
Many of them reported that they took on more responsibilities without an increase in pay. Add on top of that the fact that there’s a global pandemic happening, and it is affecting your friends, your family and yourself. Still, they were optimistic, according to the first survey in 2021. They said that they thought that there could be a silver lining in the pandemic in terms of flexibility, and the chance for career progression.
Let’s fast forward three years, and that’s where we are. The global workforce is really focused on career progression. In the United States, the need for flexibility has stabilized and has been cemented. It’s what people want here. In the rest of the world, we saw progression dominate flexibility. Last year, we saw flexibility dominating career progression globally. In the United States, flexibility is still a big, big deal.
We found in the survey that the happiest workers are the ones who can get that hybrid schedule. It’s not that people want to be fully remote. They really care about flexibility and hours. And they care more about that than flexibility of where they work. That was true last year; it’s true this year.
We’re also seeing people want a caring workforce still. There was a lot of movement in the corporate sector in response to the murder of George Floyd that everyone watched. That seems so long ago, but it had an impact on corporate response, a bigger impact than any singular event people can point to. Much of that response was tied to diversity and inclusion. What the global workforce says is that they don’t want those things to disappear.
Now that the labor market is stabilizing, they want that stuff. Oh, and yeah, they want to get paid like they got paid last year. Many families are battling inflation. They earned about a 6.3% raise in the United States last year. They’re thinking about having about the same raise this year, so the expectations are high in 2023.
Future of Work
HREN: What do you think all this means for the future of work? What’s coming next?
There’s some good news. I think we are experiencing the stabilization of worker priorities. Last year, we were talking a lot about the Great Resignation. That is starting to stabilize but stabilized doesn’t mean go back to normal. Stabilize means reset at a different rate.
The expectation, even as we’re heading into a softer economy, is that peak workers are more likely to come and go than before. With remote and hybrid options, it’s easier to change jobs, it’s also easier to come back to jobs. You should negotiate that exit interview, so it does not feel quite so permanent. How do you engage people who may come back to you in two to three years? That should be the mindset of the HR manager these days. It’s a revolving door, not an exit door.
With these expectations around pay so high, there are creative things that companies are going to do in the future. Maybe people will be willing to pay for vacation days to get more flexibility. Or they will take a pay cut if it means that they have a little more autonomy in their schedule. There are other things that caring corporate culture can do in lieu of pay to get an engaged workforce. The great thing about the pandemic is it forced innovation. It’s important to keep innovating, keep evolving, and keep learning from your workforce and incorporating that in your process.
If people are starting to lean more into career progression, how do companies meet that need, especially when you think about the other trends that are going on like AI and tech? What are the skills needed for the future? Those in the workforce think that they just need people management skills. The workforce isn’t always spot on. We have to make sure that the workforce is aligned with corporate objectives, too.
What comes out of our study is that when people look at future-proof industries, they look to tech. If used correctly, AI can be inclusive. It can actually expand and it has. If you think about the way we’re communicating now, it expands your ability to interact with others, and it could get some sideline workers back into the labor market during a period of labor shortage. It doesn’t require the physical demands that keep people on the sidelines. There’s a way to be inclusive with all these technologies, and it’s really the corporate sector that can set the tone for how they’re used.
By Francesca Di Meglio
Originally posted on HR Exchange Network
