Top Trends for Talent Management Professionals in 2020
The workforce of today is starkly different from just a few years ago. There are generational mixes (X, Y, Z), independent contractors, and even robots! The need for a more mobile workforce is slowly taking root, with talent fluidity across roles, skills, projects, and regions becoming increasingly necessary to support corporate agility. And there is always the factor of economic indicators to add some more uncertainty.
This is the time when HR professionals start taking a look at the strategies they need to implement over the coming year, keenly eyeing trends in talent management that will shape workforce planning in the near and far future, and looking for talent management certifications to add to their skills. As we head further into 2020, here are the top trends to watch out for.
People analytics will drive innovation
Talent management professionals have access to copious amounts of employee data, on parameters such as performance, salaries, work experience, qualifications, and much more. Using data analytics to pull out critical insights will become even more important, as this could help in planning for future roles, learning and development needs, the likelihood of attrition, and other essential aspects. Data could also help to get a sense of talent availability, useful to have with an ongoing intense war for talent.
Talent management will become more agile
Change, clichéd as it is, is constant. Business cycles are becoming faster, with workforce requirements changing quickly. To innovate product offerings and drive the growth of the business, all stakeholders will need to work to get the right people and resources in place. Along with this is the requirement to be more adaptable – for instance, by being ready to fail fast and learn faster. HR professionals will need to understand properly the reasons for how their people work and behave.
Contingent hiring will be more common
The search for the right people has always foxed talent management professionals, given the shortage of the former. This often brings them to the situation of grappling with the choice of hiring someone as a full-time worker or a contractor. There is a need to figure out the right workforce ecosystem for the appropriate future strategy for business. Third-party vendors could need to provide employees as well as contractors, given that both could be needed at any time and the accent is on the right skills being available. This could also lead to the emergence of new models of getting work done at the workplace e.g. using a gig-like system where employees work on a project-to-project basis and their career develops accordingly.
The focus will be on the employee experience
It is all about the employee, the talent that a company needs. HR professionals will have to be mindful of this when making plans for hiring. For instance, often, highly-skilled candidates look for opportunities to move between departments, roles, and even locations. Companies could develop and evolve their global mobility programs to offer opportunities for professional and personal growth to such candidates accordingly. Such programs work as attractive perks to attract talent along with differentiating a company from its competitors.
There will be more programs tailored for different generations
The workforce of today is increasingly diverse, with Generations X, Y, and Z being part of it. A talent management professional will need to comprehend the needs and preferences of different generations and tweak workplace programs accordingly. For instance, Gen Z effectively lives in the digital world and uses portable devices for work and play, so they could look for flexible work models, remote work, and more. Gen Y, the ‘millennials’, is currently the dominant part of the workforce, and appealing to their sensibilities could require opportunities for professional development, working abroad, and perks like better relocation packages.
Certifications will help
To succeed in their endeavors, more candidates looking to work in talent management will take up talent management certifications. A certification is a great way to show seriousness for a career and readiness for growth opportunities, along with being a proof of having the latest skills.