The pace of change today is so great that no one can reliably predict what the workplace will look like in five years’ time. Companies are figuring out how to manage economic, technological and cultural change in a world that shifts the second they think have a plan.
As Rich Lesser, CEO of Boston Consulting Group put it, “companies around the world are wrestling with how to rewire themselves”.
What we can identify, however, are the broad tends that are shaping this change and that anyone involved in talent management should keep in the forefront of their minds as they seek to hire the people they need to lead their markets and thrive.
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Talent Analytics: Data Rules the World. The wide-ranging possibilities of predictive analysis mean that analytics professionals who can use Big Data to identify organization-wide performance gaps and isolate development needs tied to business goals can change the trajectory of their organizations.
MBA talent is now seeing opportunity in the role digital technology plays in developing a talented organization, and the potential path of analytics management to the C-suite role of Chief Human Resources Officer (CHRO). Talent algorithms, revamped Human Resource Management Systems (HRMS) in the cloud and the wide-ranging possibilities of predictive analysis are the basis of the new era of talent analytics.
Thanks to the increasing importance of digital technology in developing talented organizations, this also opens up potential new career paths that can take people savvy in analytics management into C-suite roles. Far from being ‘poor relations’, roles such as ‘Director of Talent Analytics’ Chief of People Analytics will be will be jobs in high demand in 2016.
Millennials: Making Noise, Forcing Change. Millennials, once seen as entitled and immature, are the workforce of the next 40 years, and organizations are waking up to the fact that they need strategies to develop, motivate and retain them.
In 2015 the U.S. Bureau of Labor Statistics reported that by 2025, Millennials will make up 75 percent of the workforce. Attracting the best millennial talent and harnessing this talent in the most effective way is now the number one priority for organizations. No talent management professional can afford to forget this or ignore the changes they may need to make to ensure that their talent management strategy is effective.
Diversity : Action at Long Last. The increasing number of millennials in the workplace will also have profound impact on how organizations view and approach diversity. Millennials define diversity differently. For them it isn’t so much a question of visible diversity as one of collaborative and cognitive diversity – respect for every individual and for different ideas and perspectives.
A long-term, sustained process of creating diversity of thought, imprinting respect and openness on the DNA of an organization from top to bottom could be the answer. Look for demand in 2016 for Head of Diversity Sourcing, Human Equity Director, and Vice President of Inclusion.
Culture and Engagement: Work Happy, Work Harder. Silicon Valley understood early on the connection between culture and engagement, creating flexible work environments to meet the lifestyle needs of employees so they would spend more time at work (productivity) and build loyalty to their company (retention).
Mike BergenMike Bergen is Human Resources Practice Leader at Allegis Partners, a global boutique executive search firm that recruits diverse top talent for board, C-suite and senior executive-level roles across a wide range of corporate functions and industries.
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