9 key HR trends adding value to upscaling businesses
The last few years have brought about massive changes in how human resource management functions in India. Research says that over 32% of companies are replacing on-roll employees with freelancers to thrive in the changing dynamics across all industries.
The spread of the COVID-19 pandemic during the past two years reinvented the human resources (HR) department and introduced many new responsibilities under it. The HR trends emerging in this new landscape are becoming essential to upscaling a business in 2022. As a result, the opportunities for skilled strategy and human resource management professionals are endless in the post-pandemic era.
nature of work after COVID-19:
The global COVID-19 pandemic has transformed the way companies operate inside out. In the last two years, the new norms have greatly accelerated already brewing disruptions like remote work, e-commerce, and automation. Even as the pandemic seems to be ebbing now, experts predict that virtual meetings and remote work are likely to stick around at the workplace.
Many corporations have already started planning to shift to flexible workspaces and are reducing the office space by up to 30 percent. The pandemic has also given rise to entirely new business sectors like telehealth and virtual event planning which demand adaptive human resources and management systems.
It’s high time that the HR departments at companies adapt to this new reality and take a holistic approach to integrate the emerging HR trends into their business.
key HR trends that will add value to businesses in the future
workforce:
A hybrid workforce means employees that can work from both their company's workplace and their home, as required. A recent Gartner survey states that nearly 48% of employees prefer working remotely. While office employees remain essential for organizations, remote workers can also bring valuable skills to propel businesses towards their goals in a more cost-efficient manner.
importance of employee well-being:
The events of the pandemic and the global resignation of 2021 have highlighted the growing importance of employee wellbeing. Initiatives and policies directed toward the employees’ mental and physical well-being need to become a top priority for organizations to succeed. Therefore, human resources and management professionals will need to be prepared for planning, implementing, and analysing these initiatives.
on increasing diversity and inclusion:
As per a Glassdoor survey, 3 out of every 4 job seekers look for an inclusive workplace while evaluating job offers. HR departments can capitalise on this golden opportunity by acquiring and retaining talented individuals from a diverse demographic. The strategy and human resource management professionals in many organizations already realise this advantage and are preparing to create a more inclusive work culture.
gig workers:
Due to the economic unpredictability caused by COVID-19, a vast population of employees lost their jobs and were forced to try unconventional employment models like gig work. In the midst of this, the freelance economy in India rose to power and is now expected to grow up to $30 billion by 2025. It’s part of HR department’s new responsibilities to implement the performance management and incentive systems suited for a gig-based workforce.
upskilling and continuing education
The paradigm in many industries is shifting faster than ever with technological advancements and sectors merging into one another. The world is going digital, and the ability to upskill employees has become an unparalleled advantage for organizations. Consequently, incorporating skill development into the work culture is becoming one of the core priorities of human resource management in India.
work-life balance
If the Great Resignation of the year 2021 taught the world anything, it’s that work-life balance must become integral to the system. Organisations are realising this and responding by making action plans to establish a win-win arrangement for both employers and employees. The HR department will play a vital role in introducing policies that favour better work-life balance in the upcoming years.
for mentorship
In the post-pandemic corporate world, networking and mentorship are the best ways to climb the career ladder. Thus, the HR departments at companies should strive to provide suitable mentorship programs at all levels to help employees grow holistically. This not only serves as a retention tool but also helps attract new talent.
of technology
The traditional human resource management systems in India are being enhanced by increasing use of technological solutions. From interviews to on-boarding to administration, the integration of cutting-edge technologies is already making a difference in the HR department.
opportunities for internal mobility
Internal mobility has proved to be a game-changing tool that can maximize the workforce potential. Providing existing employees with new opportunities also results in increased employee retention and bridges the skill gap in an organisation. Strategy and human resource management professionals need to devise new HR models that promote seamless internal mobility programs for their employees.
for the emerging trends in HR management
In today’s data and technology-driven businesses, HR professionals need to prepare for the emerging trends by equipping themselves with the necessary skills. The human resources and management professionals that understand these latest trends and can adapt to them will be able to lead the changes in this field. For those pursuing a career in HR, many prestigious institutions offer specialized online strategy and human resource management programs. These courses are focused on developing the skills aligned with modern HR and management practices and provide participants the necessary tools to scale a business through better workforce management.
