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Three Key Challenges HR Professionals Face in a Changing World
Take the Advantage Business magnate and founder of Virgin Group, Sir Richard Branson, once said, "Business opportunities are like buses, there's always another one coming." Indeed, this quote aptly illustrates today’s business environment. In a fast-paced and often cut-throat world, opportunities, like buses, tend to come and go. The question for businesses today is how can they can leverage upon the prevailing circumstances to take advantage of these In order to capitalize on Leaveopportunities. Manag Employee Timesheets & ement System
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every occasion, and minimize opportunity costs, organizations have to be on their toes and be proactive.
The role of HR In this fast-changing business world, HR’s prime objective remains the same, to be the backbone of the 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 HR Departments to look out
for and resolve so as enable
them to continue empowering their organizations to grow successfully.
The 3 Key Challenges
Challenge 1: Recruiting and Retaining Talent in the Gig Economy The "Gig Economy" has been increasing in popularity in recent years. It is when Leave Manag ement System
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workers choose to work contract and freelance work as opposed to traditional permanent jobs. A recent report by McKinsey found that knowledgeintensive
industries and creative occupations are the largest and
fastest-growing segments
of the freelance economy. With workers
nowadays tending to "job-hop"
frequently, an issue of retaining the
best talent has arisen. Solution: In order to retain gig employees, HR needs to develop a sense of loyalty in them towards the company. For instance, providing company benefits to them – such as covering a certain percentage of their medical fees incurred. By treating them as one of the company’s own, gig workers would feel a sense of loyalty towards the organization. As such, they are more likely to return at any given chance. According to MetLife, 43% of gig workers indicated that attractive benefits would lead them to seek a full-time position, while 29% said that they 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 According to the Manpower Group, there are 4 different Leave Manag(Millennials Employee Timesheets & Applicant Tracking generations ement System
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35%, Gen X 35%, Gen Z 24%, Boomer 6%) across the global workforce. This
represents 4 different ways of thinking which could lead to
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the workplace.
Solution: To of open
resolve generational differences, encouraging a culture
communication is necessary. To do so, leaders and Human Resources personnel, should support one another and create an environment that allows their employees to freely express their feelings and points of view. All too often, employees keep to themselves whenever they feel aggrieved, building up feelings of anger and
resentment. By encouraging open
communication, workers will be empowered to get to know each other’s motivations and workings styles, thereby building a united workforce for greater efficiency. Benefit: With open communication
enabling a harmonious
workplace to be established, generational differences can be set aside and colleagues will be empowered with greater experiences and flexibility to overcome diverse challenges. Leave Manag ement in System the Age of
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Challenge 3: Ensuring Job Security Timesheets & Attendance
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The rapid development being made
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technology has resulted in many jobs
redundant by automation. It is estimated that as much as 14% of the global
workforce will be affected by this change, with 20 million
manufacturing jobs
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: The good news is that not every job can be replaced by technology. 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. By sending employees for various upskilling courses, strong returns Leave Manag Employee ement System
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on investment can be gained in the form of bridging skill gaps present in an organization while cultivating employee 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 and succeed.
In Essence The above challenges may sound daunting, however, in rising to the challenge, as an HR Professional you can empower your workforce not only to be equipped for today’s challenges, but for the challenges of the future. And if you need that extra boost to strengthen your HR department, why not try
out QuickHR With great modules like our award-winning
Leave management system, Applicant Tracking, and Payroll systems amongst many other multi- faceted modules, rest assured that even the most tedious of HR processes will be made easy. Once again, we hope that you’ve enjoyed a good read. And remember, Think Now, Think Far, Think QuickHR. * Get in touch with us at https://quickhr.co/ or request a Free Demo to find out more about our state-of-the-art HRMS solution! Leave Manag ement System
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