5 Predictions for the Next 5 Years of Human Resources
Today employers are finally learning to value top performers as “rising stock” in terms of talent potential. A company’s future depends on its ability to recognize and develop top-tier talent among its workforce. As this change continues to spread through the Human Resource ranks, I’ve identified five predictions in the next five years.
1. Work will exceed available talent.
The nature of certain fields will change exponentially and defy the supply of skills available. At the same time, companies brimming with Baby Boomers will find the next generation of replacements is underdeveloped. Facing a shrinking talent pool, the HR professional will discover the skills and assets they need are simply unavailable or unaffordable. Forward-thinking businesses will begin building global talent supply chains to recruit, as well as develop capabilities within the existing pipeline for a marked return on investment.
2. Social media recruiting will have its day.
Talent cannot hide from the universe of social media. LinkedIn and career-dedicated social media channels put talent front and center. While employers have widely accepted this recruiting stream, many are short on strategy. Human Resources recruitment must develop long range, strategic operational models to maximize online talent opportunities.
3. Development will take center stage.
Professional career development has largely focused on the careers of the C-Suite and top level team in the past. Mid-level manager training is largely focused on skills and knowledge needed for their current jobs, as opposed to developing the competencies needed to grow their careers and build a succession pipeline. Training for the future will be competency development focused with trainees in a variety of leadership groups, and its methodology more engaging. Plus, new technologies like tablets and gamification will make these programs more vivid, varied and mobile.
4. Leadership models will change.
According to a SHRM survey on international learning and talent development, “The most commonly anticipated major change affecting learning and development over the next two years, regardless of area, is a greater integration between coaching, organisational development and performance management to drive organisational change.” Leadership has been a static hierarchical model favoring vertical achievement in the past. We’re already seeing a change as lateral moves replace traditional promotions and overseas assignments recognize those on a leadership track for readied bench depth.
5. Employers will recognize the value of employee engagement.
Successful businesses in the future will redesign their culture. Millennials are especially looking for a work experience instead of a career. The work environment, management relationships, employee benefits, and productive recognition programs will integrate as holistic strategies to enhance the employee experience and engagement. New management will be more present and responsive to employee needs and actively develop talent for the future.
There is a growing divide between what the labor pool considers as their life’s work and what employers want and need. The gap is best reconciled with talent development– the identification, cultivation and management of talent inside and outside the business. It is a strategic solution that requires innovation. Forward-thinking employers should initiate leadership development programs now to build a competitive 2020 workforce.