Leaders of the most successful companies always say that they consider their employees their biggest asset, but not only do they say it they talk their walk and actually back it up with real actions.
The most successful companies stay on top of the latest techniques to identify talent, they develop their people and they ensure that all are aligned from reception to the board room.
So what are the top trends happening in the people space in 2017
1. Multigenerational workforce
In 2017 we will have both a younger and older workforce at the same time. The mighty millennials (who get more talk time than anyone I know right now) will take on critical positions in many companies while a surprising number of baby boomers will not retire at the traditional age and will continue in the workforce either because they want to or they still need an income.
We can expect (and hope some more) for more women and minority groups in the workforce at all levels in 2017. Still not enough but we can expect more. The global nature of business and the ease of mobility will lead companies to employ more immigrants and make the work environment more flexible for working mums for example (about time companies…just saying!) With this in mind companies need to have a REAL COMPANY CULTURE (not one they just talk about) but one that lives and breathes and values the contributions of all of the different cultures and diverse people
This is a topic in itself as especially within the Procurement field the term Cognitive Procurement is hotter than toast right now! In all business’ technology, has enabled us to collect more data but now we are also addressing
Predictive – What will happen
Prescriptive – What to do to influence what will happen in your favour
The current state of machine learning enables machines to learn themselves. Therefore automation is now entering more complex areas and with this it will of course have an impact on the job market. Most kids in schools now will enter into the workforce in a job that doesn’t exist right now…..scary thought I know!
4. Social Engagement
Many years ago (when I was at school) you were expected to spend your career in one or maybe two companies, today is a very different scene. Young people expect to change companies and even careers multiple times. In 2017 not just millennials, although they are culprits of this, will seek engagement and flexibility from their employers – if it is not given they will not stay – no questions asked…..they are out the door. Employers seem to know that this happens and talk about it all the time in the board room and HR departments but how many really back it up and do something about it? I can tell you who – the most successful companies around you!
Netflix is known as one of the great success stories of the last 2 decades, launched in 1998 they now have 3500 employees and generate $7billion a year from 81million subscribers worldwide.
So what is the key to its success?
In the famous “Netflix Culture deck” Netflix leaders explain that traditional logic for rules and the short term benefits of reducing mistakes. BUT the deck then goes on to suggest that over time a process focussed culture drives out the high performing employees that the company should be aiming to keep. When the market shifts quickly (errr hello 2017) due to new technology, competitors, disruptors or business models, those companies who are rule driven cannot keep up and they lose customers to competitors who can adapt (one word – UBER!) In such an environment, slow moving rule orientated companies can literally disappear…
Netflix sums up its culture and its competitive advantage in one slide:
FREEDOM & RESPONSIBILITY
Instead of endless rules and processes Netflix instead focus on just two things:
THEY INVEST IN HIRING HIGH PERFORMING EMPLOYEES
THEY BUILD AND MAINTAIN A CULTURE THAT REWARDS SUCH HIGH PERFORMING EMPLOYEES AND WEEDS OUT CONTINUOUS UNIMPROVED LOW PERFORMERS
We have a lot to learn from companies such as these, most of us have cottoned on that we need to hire the right people, but not many have worked out what to do with them when they get them and how to motivate, engage and inspire them!
5. Organisational design
In 2017 many companies will work to eliminate the traditional top down hierarchical models, business will continue to become flatter and even more democratic. Networks of highly interactive teams is a trend that will accelerate in 2017 and I strongly recommend we get ready as to compete in this new era we will need great team mates and we will need to understand how to communicate and work together more than ever.
6. Employee Experience
In a surge to motivate those restless employees’ executives will have to pay greater attention to the employee experience, companies will re-examine the physical, emotional and technical environment in which people work.
7. HR Technology
I don’t know how many times I have heard the phrase Human Remains for HR….frustrating right! Well move over 2016 as this is HR’s year to show their true strategic value in an organisation. Successful HR teams are introducing user friendly technologies that are sustainable and will let their employees better manage their benefits online as well as smart apps that will help them make decisions. HR technology of 2017 will be responsive, social, easy and integrated and will certainly help with the engagement issues of the past.
8. Learning and Development
Whilst those (poor) millennials are again being blamed for not staying long in a company they still (whilst they are on the payroll at least) want to learn. Development is the MAIN reason people leave any role, if they are not being challenged and developed or learning something new…they look for another challenge elsewhere. Leading companies are successful because they create sophisticated learning ecosystems to give their workforce pathways to provide learning any place at any time.
9. Workforce management
Most companies today obsess over analysing business processes and employee procedures, to compete better in 2017 companies will fine tune business processes and enhance productivity at all levels. Metrics for almost every work function are readily available and an operational mindset will lead top performers to produce optimal results.
10. People Analytics
In 2017 Predictive talent models will help HR departments to recruit and promote the right individuals into the right roles, hence HR will show their true value this year. It is possible now to know how a new hire will behave once they are in a role, how quickly they will adapt to the new environment and how to motivate and inspire them to become a top performer….and that is possible before they walk in on day 1! For more info on how this is possible contact: firstname.lastname@example.org to talk tactics!