The flood of change to the HR industry in the last decade and particularly post the pandemic has brought about a revolution in the industry. Many industry experts believe that as a result of technological development which have made the job more convenient and simple, the HR would become redundant. Is it so? Will HR become a thing of the past? Let’s look ahead at the HR trends emerging to shape the future of work.
The Fourth Industrial Revolution is Here
The concept of digitising everything is becoming a reality. We are living in a world where digital, physical and biological systems are integrated. Automation, artificial intelligence, Internet of Things, machine learning and other advanced technologies are being used to quickly capture and analyse the data. This data is then put to several uses. Multinationals such as LinkedIn, Amazon, TCS, Google, Facebook etc are already using AI and HR analytics for recruitment. Soon, almost every business is to follow the trend.
Preparing the workforce for artificial intelligence will be the biggest challenge. A study by LinkedIn shows that only 18% of HR professionals have the skills the companies are and will be looking for in the future. A study done by the University of California suggests that the skills gap will keep increasing as the global demand of professionals with relevant skills is more than the supply.
Every challenge is the seed of a new opportunity and growth. It is now the time to upgrade yourself and develop the skills of the future, shift our mindsets, revolutionise decision making and update our business strategies to create new value. The traditional role and simply knowing the formulas and basic knowledge excel is not enough to stay in the industry. To succeed one needs to hone the latest skills and learn about the latest technologies that are essential to the HR.
Prepare for the future
Data analytics, programming, interpreting statistics, machine learning and predictive analytics are the skills required to stay relevant in the industry. The job has become more data driven as all decisions on employee retention, their welfare, mental health etc., are now made based on the data. Data science is here to stay and revolutionise the HR world.
So, will the HR be dead by 2030?
Not really. Adapting the latest trends and upgrading your skills in time is the key to survive the fourth industrial revolution. The general roles as we know them today will not exist in the future. They would be taken up by automated chatbots and other AI programmes. The specialist roles will be across four major areas:
- Employer Brand and Culture
- Digital and HR Analytics
- Learning and Change (Training for the Future, Skilling and Reskilling)
- Reporting and Compliance
What can you do to update yourself today?
- Move from Manual
Move away from manual workflows or there would be no business growth. Invest in specialized payroll softwares and use chatbots to make time for strategic thinking. Find ways to automate the general tasks. Ag
- Stay Agile and Engage
Make your HR processes more agile and reduce waste. Focus on value-added work by empowering employees and the department. Employee engagement is a critical function. Maintain fairness by reducing bias in decision making and implementation by using technology, and analytics.
- Adapt to Apps
The app ecosystem is blowing up. There is an app for every action you can think of and more. So you simply have to adapt to integrating your existing work methods with customizable apps. HR Apps have several built-in properties such as engaging employees, simplifying onboarding, and executing salary calculations.
Bonus: Click here to experience a new and hassle free Payroll Processing using our latest app Quick Payroll. It is 100% free and would save your time and effort. Don’t wait for the future, get started today!
Here’s a quick video tutorial of the app to help you make an informed decision.