With the expanding opportunities in the digital world, companies must evolve their HR practices to have an edge over the competition. As we move onto the new year, LinkedIn’s 2020 global talent trends report reveals four HR trends. These trends are changing the way organizations hire and retain talent.
In this report, Global Talent Trends 2020 is focusing on how empathy is reshaping the way employers hire and retain talent.
Here in this report, all these four trends include employee experience, people analytics, internal recruiting, and multigenerational workforce. Let’s peek into these four trends to know more.
- The Emergence of Employee Experience: Employee experience is one of the buzziest terms in the business. Positive employee experience is the key to build a higher level of engagement, enthusiasm, involvement, and employer brand commitment within the organization. The report cites 96% of talent professionals say that the employee expe... which means that HR professionals are going all on the employee experience to attract and retain talent. If an organization wants a thriving workforce, successful business, they need to start it with their employees. How an organization treats its employees will have a knock-on effect that ripples throughout the organization.
As summed up by Mark Levy, former head of Human Employee Experience at Airbnb and All birds: “Employee Experience is about doing things with and for your employees, not to them.”
- People Analytics: People Analytics connects data to effective decision making. The LinkedIn report cites there is 242% increase in HR professional... If an organization knows about its employees, the more strategic it can be in its workforce planning, predicting attrition, and evaluating the performance of an employee. Primarily, organizations are using analytics to measure employee performance, strategic workforce planning, and driving these powerful innovations. These benefits are enough to inspire even a small organization to hop on board. 73 % of talented professionals say people analytics will be a major...
On this David Greens, the Global People Analytics expert says,” If we build trust and use people data ethically, that we can unlock significant value both for the organization and for the people who work for it.”
- Internal Recruiting: The rebirth of internal hiring: In traditional HR processes, organizations used to fill their open roles by promoting their employees, and the employees were able to follow a lifelong career path within a single organization. This approach is gradually coming back with the new updates and tools. According to LinkedIn, data roles changes within the organization have increa... Internal Recruiting is one key to retain talent and can be one of the most cost-effective techniques for the organization. The report observes 41% longer employee tenure in an organization with high internal hiring compared to those with low internal recruitment. Internal recruiting helps existing employees in finding rewards within new roles in the organization. This will boost their morale and entice good employees to stick around in the organization. Internal hiring also helps the organization to improve retention, accelerates productivity, and hiring process.
The Head of Recruiting at Microsoft, Chuck Edward, says,” For all the focus on mapping the external talent marketplace, the irony is that there’s not enough place on the talent underneath one’s roof.”
- Multigenerational Workforce: 2020 represents a new chapter in workforce age diversity driven by demographic changes. Later retirement and arrival of Gen Z mean the organization is seeing more age diversity. The report states that 89% of talent professionals say a multigenerational workforce makes a company more successful, and 56% have recently updated the policies to appeal to all ages. Also, baby boomers stay 18% longer than other employees. Gen Z considers training the most valuable in their career life, i.e., 36% call its top factor when considering a new job expert.
Generational author Jason Dorsey sums it up best: “Organizations that take the time to break through stereotypes and myths can create tremendous trust, teamwork, communication and openness that unlock the potential of every generation.”
These trends are shaping the future of hiring and retaining, which will help the organization to stay competitive in this era.