Deloitte’s Global Human Capital Trends report 2019, examines the ways organisations can reinvent themselves on a broad scale including interacting with, motivating, and personalising experiences for the workforce to help build identity and meaning for employees.
The report suggests that the organisations need to reinvent themselves in order to be more ‘human’ by adopting ethos of a social enterprise – an organisation whose mission combines revenue growth and profit-making with the need to respect and support its environment and stakeholder network. The human capital trends for 2019 has been organised into three actionable categories.
Future of the workforce:
The contract, freelancer, and gig employment workforce, which was considered ‘alternative’ for years, has gone mainstream. Also, a significant increase in the use of technology is creating a need to redesign jobs and roles into ‘superjobs’: jobs that combine parts of different traditional jobs to integrated roles that leverage productivity and efficiency gains from working with technology. Further, to be effective in the 21st century, leaders need to consider adopting a nuanced approach that takes into account the new context, drawing on competencies, such as leading through change, embracing ambiguity and uncertainty, and understanding technologies.
Future of the organisation:
Organisations need to refresh and expand the concept of employee experience to ‘human experience’ at work by putting meaning back into work based on employee aspiration to connect work to the impact their work has on the organisation and the society at large. Also, organisations must refresh their talent practices, incentives, job design, reward, and leadership to the ‘team model’ of working as organisation performance is a team sport. Further, organisations are seen falling short on aligning reward systems with organisational goals
Future of HR:
Organisations need to think how they can continuously access talent in varying ways. They also need to change the way people learn by integrating learning with work, shifting to life-long learning models, and making learning more personal by creating a culture of continuous learning, incentives, and helping people identify and develop new skills. Further, enterprise-wide talent mobility is paramount in winning the war on the home front. There is a need to see mobility at all levels as a natural and normal progression with standard processes for moves between functions, jobs, projects, and geographies.
Lastly, in 2019, the organisations need to rethink HR technology strategy considering cloud as a foundation and exploring new platforms, automation, and AI-based tools to complement their core systems.
According to Anand Shankar, partner, Deloitte India, “Human Capital trends provides significant insights for organisations in India across major Human Resources sub-areas. We will need to leverage technology since it can be a great enabler, but it needs to be accompanied by strong people systems and processes that get purpose and meaning back into people’s work to drive engagement and performance.”