Reinventing Human Resources - Deepstash

Reinventing Human Resources

The general perception of HR isn’t all sunshine, and many see it as the evil bureaucrats who bring bad news to people getting laid off. But as the war for top quality talent intensifies, HR will transition its role to become a key organizational asset.

HR decisions and tactics around individuals will become more decentralized and sit within teams; every team lead will “work in HR” and will own their own talent management.

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MORE IDEAS FROM THEARTICLE

  • Infinite automation 
  • Next gen engineering training 
  • Augmented human intelligence 

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  • Automated candidate sourcing of passive talent 
  • AI-based succession management 
  • HR analytics platform 

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  • Automated/AI-based people management 
  • Tools to simplify and improve asynchronous and remote teamwork 
  • Digital services to manage corporate culture development and alignment 

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Although a source of inspiration for funny Dilbert comics, unnecessary hierarchies create massive inefficiency (≈$3 trillion per year) and frustration.

This trend of flattening organizations will continue to spread in favor of empowering small teams and individual contributors.

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  • Intelligent, personalized and self-directed learning platforms 
  • AI-based employee coaching 
  • Data-driven intelligent career management and talent mobility 

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As organizations embrace how some talent will come and go based on their own freedom preferences, there will be certain core employees who represent a more permanent foundation of the company. Retaining these people will be imperative and employers will take a more proactive approach in shaping the individual employee experience within the organization.

This design thinking will lead companies away from structuring around function and processes, and rather center them around the employee, to create a compelling, enjoyable, and frictionless work environment.

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  • Redefined compensation services 
  • Marketplaces and digital channels to find contingency talent, across blue and white collar jobs 
  • Tools for more efficient talent on- and off-boarding 
  • Products to facilitate dynamic collaboration within fluid team structures 

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Companies will look at individual tasks as opposed to entire jobs. It’s unlikely machines will be able to do everything in the foreseeable future and instead, the winning model will incorporate machine + human where part of the value creation will come from machines and part from humans.

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Freedom before safety

There are 55M Freelancers in the US, which equates to 35% of the US workforce. This cultural movement is spearheaded by Millennials who are optimizing for “happiness ”, prioritizing flexible work hours, Work-Life-Balance, and meaningful work.

Organizations of tomorrow will by default not expect talent to remain for multi-year careers.

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RELATED IDEAS

Increased spending on digital technologies

Navigating through the Covid-19 pandemic in March 2020 caused organisations to work remotely and find ways to cut spending. However, companies significantly increased their spending on digital technologies for employees.

Over 50% of midsized companies increased their spending in this area, and 69% plan to increase their digital tools in 2022. Yet, many of these investments will not generate substantial business impact because they lack a sustained and successful focus on improving digital dexterity.

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Using existing talent

Using the employees already within your business and investing in employee development will be crucial for businesses looking to build their workforces for tomorrow. It also allows leaders to understand which skills are most in-demand across the business and identify where any areas need intervention.

Over time, and as projects progress, trends in these gaps will likely occur meaning HR and leadership teams are able to understand exactly when and where internal talent needs to be developed in good time in order to fill those gaps that come up most often.

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“The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

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