Your employees are your most valuable resource. They’re the engine that drives your company and will help you reach new heights of success. If you keep your employees happy and provide with them the challenges they need, they’ll be productive and loyal to your brand. Managing human resources isn’t easy but market trends and experts offer plenty of advice to help you. Here are some of the biggest HR trends you can expect for 2017:
- Experiences Will Matter More than Rewards
HR experts have noticed this before. Modern employees are more interested in job satisfaction, feelings of accomplishment, and the entire experience of doing the job. Studies indicate that positive employee experiences can reduce turnover and help brands retain their employees. You can enhance your employee experiences if you upgrade the workplace environment, provide more training, and increase the rewards. Training and workplace environment changes are more effective than monetary compensation because people will leave high-paying jobs if they have poor experiences.
- Candidate Experiences
Most brands don’t consider candidate experiences during the recruitment process. Because of recruitment websites like Glassdoor, candidates openly discuss their interview process online. A poor experience will deter other candidates and limit your access to the talent pool in your location. Studies indicate that around 60% of the candidates surveyed had a poor recruitment experience. These candidates are very likely to share their experience online and that can have an impact on your reputation.
- Blended Workforce is On the Rise
The blended workforce is one of the most significant HR trends in the recent months. Many companies now employ permanent staff as well as freelancers. The freelance workforce can work with your existing employees to get projects done easily. The gig-economy offers both freelancers and potential employees considerable flexibility. This system allows companies to hire freelancers for specific jobs or single projects instead of having them on their permanent staff. Companies also gain access to a global recruitment platform because many freelancers work remotely and through the Internet.
- Regular Feedback Instead of Annual Performance Reviews
Employees and employers feel that annual performance reviews aren’t beneficial. Modern employees want immediate feedback on their skills and performance. They want to know when they make mistakes or falter quickly because they want to correct the problem and improve their performance consistently. Employees just aren’t willing to wait for annual reviews to know about their strengths and weaknesses.
Many big companies have already taken steps to move away from the system. Employees in these companies receive feedback daily, weekly, or on a monthly basis. This can benefit the employee as well as the company because active feedback reduces the number of mistakes and improves overall performance.
- Workplace Wellness is Priority Over Employee Benefits
Modern employees and millennials take workplace wellness seriously and are more health conscious. They are aware of the stress of the, pressure, being overworked, etc, and will not join a company that doesn’t have provisions for employee wellness. Millennials want companies to help them maintain a healthy work lifestyle. According to studies, health benefits and wellness benefits have increased by 45% to 60% compared to 2016.
- Casual Workplace Culture
Workplace culture has become more casual and informal. The lines between employee and boss have blurred so people on different levels of management interact more freely with one another. Millennials and modern employees also prefer more casual, semi-formal clothing in their workplace. Many prefer not to wear suits and ties and would rather stick to presentable semi-casual wear.
These are some of the most visible trends for 2017. The HR landscape has changed and will continue to change significantly and this is largely thanks to the rise of the gig economy. At HR Progression Partner, we believe that an organization is only as strong as the people within it. With over thirty years of combined progressive experience in human resources management, contact us today to discuss your specific needs!