Expect to see more creative approaches to talent management in the coming year, a new white paper predicts. Thomsons Online Benefits published its new Global Trends report, forecasting a few of the major movements that HR executives can expect to see in the next 12 months.
The report's author, Managing Director Chris Bruce, points to a recent study which found that millennials will grow to become the largest group in the U.S. workforce but at the same time that one in five workers will be over the age of 65. This makes it imperative for employers to get flexible about their approach to employee engagement and recognizing the divergent priorities for each generational group - for example, while work/life balance may be a top concern for millennials, wellness and healthcare coverage are what concerns the older generation.
"Companies will need to take a step back and evaluate the ways in which they motivate employees, revisit healthcare programs to ensure that they are meeting employee needs, and shift models that analyze productivity to stay competitive and attract new talent," writes Bruce. This means, according to Bruce, looking at each generation and considering their respective preferences, but also working to enhance the organizational culture and the benefits and rewards it offers.
The rapid development of mobile and wearable technology will make an impact on the workplace as well, according to the report. With mobile sales expected to reach 1.95 billion and huge advances in wearable technology, HR professionals will want to harness these tools to help enhance workplace performance and engagement.
"HR software that is optimized for mobile devices allows employees to access benefits and reward packages from virtually anywhere," writes Bruce. "Having HR processes that are easily accessed on any mobile device is also crucial to keep millennial employees informed and connected to their benefits and rewards."
While he adds that security and privacy issues will need to be addressed, particularly around wearable technology, the author holds that these tools have proven ideal for wellness incentive programs and will continue to evolve.
The full report, including predictions for HR trends in Europe and Asia, can be found here