In 2015, there are numerous trends taking the business world by storm, many of them related to ongoing trends in employee demographics and business technology. For example, we’re seeing a constant shift in who dominates the workforce – while previously, boomers had greater numbers and more power, they’re now beginning to drift away into retirement and millennials are taking over.
Meanwhile, technology is becoming more pervasive, and this has led to a way of doing work that’s more fast-paced, more automated and more globalized than anyone previously thought possible. An employee today can begin a work task in New York and it can be completed minutes later by a co-worker in Tokyo.
This rapid acceleration of work has brought added convenience for many, but it’s also infused a great deal of stress into human capital management. Everything is happening so much faster now, and that includes employee turnover – even at the leadership ranks. Boomers in executive positions are retiring, and millennials in middle management spots are quickly skipping from job to job. How can HR keep up?
According to HR BLR, there are two major trends for HR leaders to keep a closer eye on. The challenge today is to keep the business well staffed, especially at the highest levels. Dan Schawbel, founder of HR research and advisory membership service WorkplaceTrends.com, shared a couple of ideas about how to do that.
Closing the leadership gap
The first problem is a leadership gap at today’s organizations that’s growing ever wider. WorkplaceTrends.com found that 10,000 boomers are retiring every day, and with many of them walking away from the leadership levels at their organizations, that leaves some big positions for HR to fill. Unfortunately, there’s often a dearth of talent to fill them, as fewer than 15 percent of today’s employees aspire to executive-level positions.
Schawbel says that for people who are ready to lead, a lot of training is necessary to get them up to speed.
“Companies are using traditional vehicles, such as manuals, in order to train their employees, while employees are looking for online training programs,” he explained. “By providing virtual learning, employees can access training wherever they are. This is especially important for millennials, who are glued to the Internet.”
Reaching a greater level of transparency
In addition, there’s a growing level of concern about employer branding, as companies have a pressing need to keep their own people and attract new talent. So – how best to do it?
According to Schawbel, 52 percent of millennials say the most important qualities of a good employer are honesty and transparency. For this reason, companies are reshaping their approach to leading talent.
“Companies that openly engage employees on everything that’s going on at work will be able to retain them more,” Schawbel noted. “If you want to earn the trust of employees, share as much as you possibly can. The more you trust them with this information, the more they will trust you.”