I subscribe to a weekly e-zine called The Herman Trend Alert. It is a quick read of trends and developments across various industries. At the close of each year they publish a “Workforce-Workplace Forecast” for the next year. This is always a fascinating report so for this week’s Tip, I wanted to provide you with a “cliff notes” version. I hope you enjoy it.
In the workplace, look for 2018 to bring:
- Upward pressure on wages – talent shortages are forcing business leaders to take a new look at wages.
- Increased focus on the “employee experience” – employers must be serious about creating environments that support employees doing their best work.
- Growing emphasis on flexibility in work schedules and location – flex-time and flex- place are not possible in some industries and jobs so these employers will be creative in flex benefits that they can offer.
- More companies hiring for soft skills and cultural fit – CEO’s see the value of focusing less on traditional and formal credentials and more on essential interpersonal skills, i.e., emotional intelligence, writing, speaking, empathy, clear communication, and conflict resolution. Can you tell your story in an authentic and impactful way?
- Higher percentages of contingent workers – global staffing agency, Ranstad, predicts as much as 61% of the workforce will choose “agile” careers by 2019.
- People and predictive analytics moving beyond HR-specific data – companies will look at many factors and take action to optimize ROI of everything from advertising to training budgets. Upside = profitability, downside = good ideas may not be re-funded, because they didn’t meet ROI the first time but aren’t given the chance for adjustment.
- Data scientists’ shortages forcing innovative solutions – one being a team approach to data science with employers tapping into the passions and talents of their people—versus expecting one individual to know and do it all.
- Up-skilling to help solve the STEM skills gap – due to advancing automation, the most valuable skill we can teach people is how to learn and the second most valuable is to how to embrace change. (to be explored in future Lifestyle and Leadership Tips!)
- Implementing additional AI and digital platforms to enhance HR processes – new tools and new strategies will be brought into every phase of the employment lifecycle.
- Automation will mostly support the work of humans, not replace them – skilled workers are still needed to operate most machines. At the same time, machines are becoming increasingly complex, so we will need skilled workers who can keep learning and growing. Forrester Research has reported “close to 15 million new jobs will be created in the US alone over the next decade as a result of automation and smart machines.”
- Exponential growth of sexual harassment claims – Only the tip of the iceberg is exposed so expect to see continuing waves of allegations, firings, convictions, and settlements.
As always, I welcome your thoughts and feedback.
