You’ve no doubt heard the buzzwords: 5G data networks, autonomous driving, AI-as-a-service, and blockchain technology. According to a recent Forbes article, these (as well as other trends like personalized and predictive medicine) are going to be front and center in 2020 and beyond.
With technological advancements like these, the business world is morphing at an astounding rate, and no industry will be left untouched.
Aside from the influence of technology, the new year will introduce a significant merger of generations in the workplace. According to Statista, Millennials will likely make up 35% of the global workforce by 2020, while Gen Z will make up 24%.
What does this mean for talent management?
As we recently discussed, today’s employees want to work in a diverse, safe and modern work environment; they desire a level of autonomy and the opportunity to advance, and they admire pay transparency.
Stepping into the new year, people will no doubt expect more of this. They’ll want more personalization, greater flexibility and increased accessibility to learning opportunities as modern trends gain traction.
As technology continues to develop at a rapid pace, employees will also naturally expect the work systems they use to match (or even exceed) the capabilities of the tools they use in everyday life.
With these changes and expectations on the table, it’s important to have the appropriate talent management tools in place as you look ahead to a new year.
Talent management tools and trends to embrace in 2020
- Online and mobile solutions
If you aren’t already using online and mobile tools to improve processes and engage your workforce, then you should be.
Other than ensuring that your employees have access to the necessary software and apps for them to perform their jobs most efficiently, it’s important for you to have the right tools in place to attract, identify and retain high performers.
The near future will no doubt see software solutions that help organizations integrate their employees, give real-time feedback, open up avenues for internal “gigs” and increase their skills.
If you are already using these tools, make sure that the employee experience is excellent. Developing and nurturing a culture that employees want to be part of will go a long way in supporting your aim of retaining great employees.
Tools that enable personalization
In a world flooded with messaging and information, individuals yearn for personalization. According to studies, most consumers (almost all, in fact) are more likely to shop with brands who recognize, remember, and provide relevant offers and recommendations.
The same concept applies in the workplace. Employees want to know that their individual contribution is seen, valued and has a purpose. They want to know that they have a personalized career plan, indicating exactly how they fit into the organization and how their achievements and growth will contribute to the business.
As we see in this video, having a personalized road map for employees is fundamental to your retention efforts. For new hires, it’s important to have an onboarding and integration program, including focus on performance goals. One-on-one manager time is also something that they rank highly.
Personalized goal setting and growth opportunities are likewise important in retaining existing employees. That could include offering them the opportunity to get involved in internal gig opportunities, for example. We’ll talk about this more in the next section.
Real-time feedback is another essential element when it comes to keeping personalized channels of communication open. This is applicable to both new hires and existing employees. People want to know that they’re on the right track and not getting ‘lost in the crowd’.
- Solutions that inspire innovation
In the same way that individuals seek personalized recognition, they are (possibly more often than you realize) after a way to put their unique skills into practice in the workplace.
The gig economy is taking off dramatically, which goes to show that individuals are looking for ways to be innovative. According to Gallup, 36% of US workers have a gig arrangement in some capacity.
Innovation is a massive driving force in the broader business and software environments – and it should be encouraged on an individual level too, especially among those who have an entrepreneurial spirit.
By creating a platform for innovation internally, you’ll give these individuals the space to drive their skills back into the company as ‘intrapreneurs’, rather than having them take on side gigs for other companies.
Not sure where to start? Check out our solution that helps you set up an internal gig culture, giving your employees the chance to take on projects in other departments or to try something new.
- Data-driven solutions
Looking to the future of the work world, the relevance of data-driven solutions cannot be emphasized enough.
Not only does data present companies with new ways of enhancing the customer experience, but it also allows organizations to approach employee retention differently. In essence, it can provide you with a realistic view of your workforce.
With the right technology, you’ll be able to rely on non-biased data to understand employees’ performance. Modern solutions offer insight into how well employees are integrated, how much training they’re doing, how their peers view them and give a track record of employees’ performance scores.
Using these tools, you’ll gain far more insight than what you could in an annual review. The correct software also helps you to ensure that everyone is treated fairly by taking the emphasis off of reviews that rest on the opinion of a potentially bad or biased manager.
Get equipped for the future
Looking ahead, it’s clear to see that employees’ expectations, hopes, and motivations are shifting and that means your retention strategy might need to too. Get ready for 2020 and the future with the right talent management tools on your side – and stop losing great people.