The Top 10 HR Trends to Look Out For
As businesses recover from the pandemic, companies are recalibrating their human resource efforts to match the new standards of employee relations, recruitment and retention, and workplace conditions. Here are the HR trends that companies should consider as businesses transition to the next phase of The New Normal of work.
1. High competition in talent acquisition
The Great Resignation has resulted in a global talent shortage that companies are still struggling to contend with. Organisations need to step up their efforts as the competition for acquiring skilled talent gets more intense. Companies must re-assess their employment package and consider creative endeavours to attract and retain talent.
2. Recruiting from a global talent pool
Technology has given employers access to a wider pool of rich talent as remote work options became more available, especially out of necessity due to the pandemic. Though some companies are returning to on-site work, outsourcing will continue as it offers effective staffing solutions in response to the current shortage of onshore talent.
3. The New Work paradigm
In the New Work, employment is viewed beyond the terms of compensation in exchange for labour. Employees see work as fulfilling a purpose with a focus on their well-being. Organisations are advised to reconsider their engagement strategies to make their shift work for the employees. Getting their feedback is important. Acknowledge them for their input and inform them of follow-up actions. Encourage frequent check-ins between managers and employees to address problems right away before it gets out of hand.
4. Continue wellness programs
The pandemic has brought attention to WFH/remote work’s impact on the staff’s mental health and well-being. HR’s efforts to promote and maintain wellness should still remain, even as employees are returning to on-site work. Organisations must instil a sense of psychological safety within the company culture and working environment. This will also strengthen the connection between the employee and the company.
5. Allow for flexible work options
The hybrid workplace option is now being introduced in companies to encourage employees to work on-site again. But there are reports of resistance as employees have realised that they can still be productive by working remotely. HR and management should consider flexible work arrangements that will ensure employees remain motivated and productive to deliver their expected duties whilst encouraging work-life balance. Find a compromise that will benefit both the organisation and the staff.
6. New KPIs to measure productivity
HR and managers should consider new productivity indicators that reflect the worker’s performance within the dynamics of the New Work. Performance reviews can assess the employee’s capacities for collaboration, communication, work-life behaviour, and mentoring mindset. This will also provide avenues for professional and personal growth as employees adapt to their working environment.
7. More value in a diverse and inclusive workplace
According to recent studies, companies that have a high level of gender diversity in leadership roles were 25% more likely to achieve above-average profitability. Organisations that instil diversity and inclusion within their corporate culture and operational principles are bound to attract more qualified talent as well.
8. Shift from people analytics to data literacy
Whilst the focus of expertise was in people analytics, HR professionals now have to be more proficient in reading, applying, and communicating data to make informed decisions. Employers need data-driven solutions as their solid foundation for business strategies. Data literacy and data mining skills using AI platforms will empower HR and management to accurately make better plans that will enhance business value.
9. Upskilling the HR team
Learning & Development teams are focussed on providing educational resources for the staff and key business roles that they forget their own need to upskill. HR should also examine what their own team needs to work on and invest in training sessions among their members to expand their skillset, which will ultimately benefit the entire organisation as well.
10. Employer branding
Job seekers would want to work for an organisation that is aligned with their values. HR should work on how they can create a positive image for the company by building up their employer brand. Corporate values will become the cornerstone for the employer brand that should be practised in their company culture. This will help attract quality candidates who will be more interested to join the organisation.
The industry-leading recruitment agency in Vietnam
The Talent Consultants is prepared to face these trends with their expertise in recruitment and workforce strategies. As a long-time trusted talent acquisition consultant in Ho Chi Minh City, we provide multinational businesses with a rich pool of the most qualified talent from the Southeast Asian region to match the required roles in their organisation.
Visit our website to learn more about our recruitment services. For job seekers, you can check our job vacancies page to set you on the right track in your career journey. For more details on HR solutions that will benefit your company, give us a call on +84 28 7309 7991 or book a free consultation here.