Three Key Challenges HR Professionals Face in a Changing World

1. Three Key Challenges HR Professionals FaceinaChanging World TaketheAdvantage BusinessmagnateandfounderofVirginGroup,SirRichardBranson,oncesaid, "Businessopportunitiesarelikebuses,there'salways anotheronecoming." Indeed,thisquoteaptlyillustratestoday’sbusinessenvironment. Ina fast-paced and oftencut-throat world,opportunities, likebuses, tend to comeand go.The question for businessestoday is howcan they canleverage upon theprevailing circumstances to takeadvantage ofthese opportunities. In order to capitalize on

2. every occasion, andminimize opportunity costs,organizations have to be on theirtoes and be proactive. TheroleofHR Inthisfast-changingbusinessworld,HR’sprimeobjectiveremainsthesame,to bethebackboneofthe organization empowering their employees and business to grow. How should they continue in carrying out this objective considering the current business climate? Below are 3 key issues for HRDepartments to look out for and resolve so as enable them to continue empowering their organizations to grow successfully. The3KeyChallenges Challenge 1: Recruiting and Retaining Talent in the Gig Economy The"GigEconomy"hasbeenincreasinginpopularityinrecentyears.Itiswhen

3. workerschoosetoworkcontractandfreelanceworkasopposedtotraditionalworkerschoosetoworkcontractandfreelanceworkasopposedtotraditional permanent jobs. A recent report by McKinsey found that knowledge-intensive industries and creative occupations are the largest and fastest-growing segments ofthefreelanceeconomy.Withworkersnowadaystending to"job-hop" frequently,anissue of retainingthebesttalent hasarisen. Solution: In order to retain gig employees, HR needs to develop a sense of loyaltyinthemtowardsthecompany.Forinstance,providingcompanybenefits tothem–suchascoveringacertainpercentageoftheirmedicalfeesincurred. By treatingthemas oneofthe company’sown,gigworkers wouldfeel a senseof loyalty towardsthe organization.Assuch, theyaremore likely to returnatany given chance.According to MetLife,43% ofgigworkers indicatedthatattractive benefits wouldlead them to seek a full-time position,while29% saidthatthey would be compelled to stay if attractive benefits were offered. Benefit: Retaining talent will help companies to maintain and develop their dynamic capabilities to ensure that they remain firm in the face of adversity. Additionally, by retaining talent, companies will not be required to source for additional workers, thereby saving on recruitment costs. Challenge 2: Resolving Generational Differences AccordingtotheManpowerGroup,thereare4differentgenerations(Millennials 35%, Gen X 35%, Gen Z 24%, Boomer 6%) across the global workforce. This represents4differentwaysofthinkingwhichcouldleadtoclashesinideologyat

4. theworkplace. Solution:Toresolvegenerationaldifferences,encouragingacultureofopen communication is necessary. Todo so, leaders and HumanResourcespersonnel, shouldsupportoneanotherandcreateanenvironmentthatallowstheiremployees to freely express their feelings and points of view. All too often, employees keep to themselveswhenevertheyfeelaggrieved,buildingupfeelingsofangerand resentment. By encouraging open communication, workers will be empowered to get toknoweach other’s motivations and workings styles, thereby building a united workforceforgreater efficiency. Benefit: With open communication enabling aharmoniousworkplacetobe established,generationaldifferencescanbesetasideandcolleagueswillbe empoweredwithgreater experiencesandflexibility to overcomediversechallenges. Challenge 3: Ensuring Job Security in the Age of Automation

5. TherapiddevelopmentoftechnologyhasresultedinmanyjobsbeingmadeTherapiddevelopmentoftechnologyhasresultedinmanyjobsbeingmade redundantbyautomation. Itisestimatedthatasmuchas14%oftheglobal workforcewillbeaffected bythischange,with20millionmanufacturingjobs estimated to be lost to robots by 2030. This slow change towards this projection has left many employees worried about job security and anxious about the future of their careers. Solution:Thegoodnewsisthatnoteveryjobcanbereplacedbytechnology. Artificial Intelligence (AI) and robots lack the emotional capacity to deal with complex situations, as such, developing the capabilities of human workers is still necessary.Bysendingemployeesforvariousupskillingcourses,strongreturns

6. oninvestmentcanbegainedintheformofbridgingskillgapspresentinanoninvestmentcanbegainedintheformofbridgingskillgapspresentinan organization while cultivatingemployee loyalty. Benefit: By addressing the issue of automation, businesses will have a greater wealth of options available to overcome obstacles to ensure that they continue to strive andsucceed. InEssence Theabovechallengesmaysounddaunting,however,inrisingtothechallenge, as an HR Professional you can empower your workforce not only to be equipped fortoday’s challenges,butforthechallengesof thefuture. And ifyouneed that extra boost to strengthen your HR department, why not try out QuickHRWith great modules like our award-winning Leavemanagement system,ApplicantTracking, andPayrollsystemsamongst many other multi- facetedmodules,restassuredthateventhemosttediousofHRprocesseswill be madeeasy. Onceagain,wehopethatyou’veenjoyedagoodread.Andremember,Think Now, Think Far,Think QuickHR. * Get in touch with us athttps://quickhr.co/or request aFreeDemoto find out more aboutourstate-of-the-artHRMSsolution!

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