A new year and decade bring new predictions and anticipation, along with questions for the future of work. With the streamers cleaned up and the calendars finally changed, it’s time to get to work and explore how we can make work more human.
Last year, the arrival of emerging technologies, challenge of cloud adoption, and existence of a multi-generational workforce dominated the conversations at conferences and the press. While advancements have been made, numerous challenges within human capital management remain to be addressed. With Emily He, SVP, Oracle HCM Cloud providing her predictions last week, I wanted to see what the greater team thought as well.
Here’s what they had to say:
Big Data Will Help HR Gain Deeper Insights: As organizations continue to grow and span across different regions, countries, and continents HR will play a pivotal role in understanding the company's workforce. By analyzing data from employee feedback, surveys, and employee development tools with machine learning, HR will look to align employee motivations with business goals and initiatives set by company leaders. In industries such as manufacturing where skills gaps and unfilled positions remain challenging, big data will help complete tasks left by retiring baby boomers.
Contrary to popular belief, AI and Machine Learning Won’t Result in Job Losses: Instead, we will see AI/ML expedite routine tasks such as submitting requests, looking up data, and getting responses. Digital assistants will route people where they need to go and limit HR backlog. Simply put, AI/ML will let employees and HR professionals move to more value-added work.
Emerging Technologies Will Become Pervasive: With AI and Machine Learning helping companies gain the right insights and augmenting existing roles, workers will expect such technologies to simply just work. Adoption will ultimately depend on the end user’s ability to understand how the particular piece of technology came to its conclusion.
AI Will Improve Training Outcomes: With AI gaining more traction in the HCM space and providing insight on larger data-heavy activities, we'll begin to see a greater focus on EQ or Emotional Intelligence. We will really begin to see this manifest in technology through increased training and learning content including virtual reality. Ultimately, this will benefit the workplace in how employees collaborate and solve conflicts.
HR Will Have a Greater Emphasis on Organizational Culture: The war for talent will force employers to focus on company culture, from improving the candidate experience to offering more flexible work arrangements. In the latter, companies will continue to focus on personalization and modernization of their recruitment systems while in the latter, remote/work-from-home policies will help cut costs, attract top talent, and drive innovation. Diversity and inclusion will also be top of mind for many HR executives.
Increased Data in HR Leads to an Emphasis on Security: 2020 will bring an even stronger focus by HR on the security of HCM software systems, processes, and employee data. As companies in every industry around the globe are forced to digitize and rapidly scale, there are new security complexities that must be managed - for example, those that arise due to the necessity for mobile availability, or greater self-service access across HR processes to improve efficiency. Managing this becomes even more complex with everchanging compliance requirements (e.g. GDPR), and the increasing impact of fraud and data theft within HR processes. Ultimately, this means the partnership between HR and IT will be stronger than ever.
Do you agree with these predictions? Let us know in the comments section below or contact us to share your thoughts today.