There has been a shift in the importance of employee experience, transforming from a trendy concept to a foundational element crucial for retention and operational efficiency. This extends to challenges in talent acquisition, retention, and workforce management, underscoring the overarching importance of people in business operations.
There is a trend towards adopting technology with purpose, advocating for a modular and purpose-driven approach rather than large-scale transformations. This approach allows for targeted improvements, making technology more accessible and adaptable across various organisational sizes. There is diminishing emphasis on certain trends like DEI and flexible work, signalling changing priorities in the dynamic landscape of HR and technology. The role of employee experience and purpose-driven technology adoption is paramount in the contemporary business environment.
A recent survey on flexible work arrangements across various industries and organisations, encompassing over 100 companies of different sizes and geographies, revealed a stable trend towards flexible work. Nearly every organisation now adopts flexible work policies, allowing remote work for a portion of the week. The emphasis has shifted from establishing these policies to fine-tuning and improving existing ones, indicating widespread acceptance of flexible work arrangements.
Key trends in HR and workforce management include the breakdown of organisational silos, particularly in onboarding, evolving from an HR-specific function to a corporate one involving multiple departments. The management of contingent workers is another trend, emphasising the need for a consistent approach across the organisation. A third trend is the evolution of HR technology, moving towards a modular and best-of-breed approach. This has arisen due to the challenges of keeping integrated systems up to date, leading to a preference for flexible, specialised solutions. There has also been a move towards talent marketplaces and self-service models to empower employees in skill management.
There is a trend towards utilising generative AI (GenAI) as a co-pilot tool to enhance efficiency in various HR tasks. The technology aims to augment human involvement rather than replace it, similar to the historical enhancement of accountants’ productivity by computers. ServiceNow for HR is becoming increasingly relevant for employee engagement. Adopting GenAI and similar technologies doesn’t necessitate replacing existing systems, making it a cost-effective and accessible solution for various industries, including the public sector.
This presentation was delivered during the monthly ICMIF Member-to-Member Discussions for HR Directors. Please contact Mike Ashurst, Vice-President of Reinsurance and Professional Development, to find out more about the HR discussions.
