Future Trends of Human Resource Management
Future Trends of Human Resource Management
Whenever the word future is attributed to any context, the first thing that comes to anyone is the technology and futuristic gadgets. The same goes for future trends in HRM. Human Resource Management is a very vital department since it manages and supports the employees who are the backbone of any company. Given such the importance of a job, the technologies and the trends used in this task should also be up to the notch. Here are some future trends of the HRM which would shape, improve and even ease the stress of the HR Managers.
1. Leadership Modernization
Leadership is not monotonous anymore, which requires just overseeing the employees and running the company. With the new digital era, the leadership also requires a transformation which, would not be hierarchical anymore. Unlike rigid leadership in the past, the current scenario requires leaders who are flexible and able to be adaptive to different situations. When the team head is not open to being flexible with the team and taking responsibilities, then it will affect the efficiency of the team.
Therefore, the modern era requires a leader who is modern and agile. He/She should also be the person, who is capable to handle the diverse team, in a digital way. This is one of the most important and influencing trends that can be seen in HRM in the future.
2. Improvisation of Employee Life and Benefits
No company can grow and thrive without the toil and hard work of its employees. This notion has to be understood by companies. The latest trend which would really improve the employee’s life is the implementation of technology in their work life. Here are some technical aspects which when used in the employee’s life would greatly improve their standard of work life.
Wearable Techs: The pressure and stress that the employees see in their work life are very high. It is the responsibility of the HR managers and the company to take care of their employees and see that their mental and physical well-being is not affected by the workload. Therefore with the help of the wearable tech, the employee's health can be monitored. The parameters such as blood pressure, pupil dilation, body temperature, and heart rate are measured continuously. When they hit a high point as an indicator of high stress, then the employee can be given a break. To conclude, the wearable techs can be a good inclusion in the company which would improve the employee’s life.
Biometric Time Stamps: Did you know? As much as 16% of hourly employees have admitted to buddy punching. With biometric techs like fingerprint and iris scanning attendance stamps, there wouldn’t be any redundancies in attendance.
Rewards based on Performance: When a worker’s tasks and his/her daily work is tracked, then they can be rewarded accordingly. Rewards act as a motivational element that encourages the receiver as well as other employees to work harder. Therefore, with the performance tracking system, the employer can analyze as well as reward the best working candidates.
3. Focussed Recruitment
There is literally no need for introduction in the use of Artificial Intelligence and Machine Learning in recruitment. These techs drastically reduce the energy and time involved in choosing the candidates for the interview. The chatbots and other human-computer interactive techs help the recruiters to know more about the applicants. The chatbots with questions auto-fed by the HR Managers would save the time in calling each and every applicant and ask those questions manually.
Additionally, with the pre-determined parameters like the experience, skills and academic factors, the AI can choose from the bunch of CVs of the applicants. The growth of social media in recruitment is exponential. The LinkedIn and other job portals such as Indeed has so many potential candidate’s profiles which can be scouted for a perfect match for the job.
Click Here to Read more about the AI in the Recruitment process.
4. Data Analytics for Overall Growth of the company
Data is a very powerful tool. When processed and analyzed, it can impart immense insight into various things such as customer interests in a company’s products, the trends of employees, the impact of any new feature added in a product and so on. When there is data, there is hope to find correlations between them. When an HR finds the correlation between employee’s performance with other factors such as academic background, new entertainment for employees in the breaks, etc, it can help the company to improve its overall growth accordingly.
5. Promoting the learning and networking in the Company
Human Resource Management should promote learning, inclusion, and networking amongst the employees. With constant development and updates in the technologies used in day to day life, the workers should also be given necessary training and chance to learn them. For an ideal worker, their career can span from 30 to 40 years. In the past, not much changes in a span of 10 years. But currently, we can see a lot of improvements in just a year. Therefore, learning should be a continuous process in an employee’s work life.
Networking and Inclusion are other key factors determining the company’s future. To build a good future for the business the company should invest in the betterment of its staff. Knowledgable staff can hone the other employees who need extra training. When there is a pack of very strong staffs, then the future of a company can be very bright. Hence proper networking and inclusion will enable the staffs to get together and share their ideas and experiences.