Trends influencing the workforce in the coming years include technological advancement, outsourcing, changing worker attitudes and values, demographics and diversity, focus on fit, and being compliance with the employment laws. Is your business prepared?
Technology. Smart devices continue to blur the line between work life and personal life. Companies have employees working all around the world around the clock. Now we get 24 hours of work time. Telecommuting and flexible hours are just first steps of navigating the issues surrounding constant connectivity and work/life balance.
Outsourcing. Companies have come to define which work is critical and which work is not. Organizations will outsource the noncore competencies of the workplace or use contractors to provide a specific expertise then move on to other organizations. Define your organizational strategy and develop HR strategies around how work gets done in the organization and by whom.
Changing worker attitudes and values. According to the Bureau of Labor Statistics, a worker in the U.S. today has an organizational life expectancy of just 3.5 years. So how to engage employees in such a way that they want to be with your company?
Focus on fit and effectiveness. It’s important to hire someone who fits the culture and shares the same values. Qualifications can be taught; fit can’t. Social recruiting and the referral method is an excellent way recruiters can hire better people faster who will stay longer. The effort to find, hire, interview and onboard is very expensive. This can be countered by training people better, providing them real-time feedback on their performance.
Demographics and diversity. People are living longer and, in the next 10 years, we will have five generations in the workplace. We’ll have traditionalists, Boomers, Gen X, Gen Y, and Gen Z.
Compliance. HR will need to pay close attention to compliance when it comes to compensation, wages, new-hire orientation, employee payroll, recruitment and hiring, employee separation and performance management. Is your organization following federal and state employment laws that govern your industry and company size? A big area is the Patient Protection and Affordable Care Act, which requires that all Americans have health insurance by 2014 or pay a fine for each month they lack coverage. The employer mandate, which will go into effect in January 2015, states that all full-time workers at companies with more than 50 employees must be offered job-based health coverage. One other important area is Immigration. U.S. Citizenship and Immigration Services is no longer just targeting large employers and are looking at the smaller and medium-sized businesses. The number of audits is increasing dramatically, fines have risen in tandem, and these are just for I-9 violations.
HR Management Services is looking forward to support you aligning your HR strategies with your organization’s goals and objectives in 2014.