As little as ten years ago Human Resources was primarily defined as the department in charge of payroll and benefits. Thanks to technology, these more administrative functions have been automated, making room for more innovation and putting the focus on the “human” aspect of this department.
As we await for the ball drop and the ringing in of the new year, here are a few HR trends we can look forward to in 2017:
In 2016, 60% of job seekers reported a poor candidate experience and 72% of these candidates shared their experience via Glassdoor.com or other employer review services. Companies like Virgin Media are paving the way for an improved candidate experience. When Virgin discovered they were losing an average of $7 million in revenue due to weaknesses in their recruitment process, they began to analyze what they could do differently. They created a better candidate experience and in turn, improved ROI. We expect to see more of this in 2017 as employers seek to create a reformed experience for job-seekers.
The Gig Economy
The blended workforce is becoming increasingly more common in the modern workforce. With 93% of companies hiring freelance workers alongside full-time employees, we expect to see an even greater increase in 2017. In fact, a staffing industry report shared that total spending on the U.S. Gig Economy is close to $800 billion. With our economy becoming even more contingent on these workers, this presents new challenges for the HR professional as they seek to make these employees more of a focal point for employee engagement.
2017 marks the first year Generation Z will enter the workforce. These Centennials will bring a new culture with them, known for being more diverse, resilient and open than their Millennial counterparts.
While 37% of Centennials fear they will not find a job that fits their personality, this presents a new challenge for human resources professionals to understand this new demographic and reach them with strategic content that is relevant to them.
CareerBuilder’s 2016 Candidate Behavior study found “Although 76 percent of full-time, employed workers are either actively looking for a job or open to new opportunities, nearly half (48 percent) of employers can’t seem to find the workers they need to fill their job vacancies.” Employers also stated it takes anywhere from 26-34 days to fill an open position. In a world where time is money, it’s certain more employers will be taking more measures to decrease the amount of time and energy spent to find qualified candidates.
A study by Willis Towers Watson, showed that while 75% of U.S. employers believe stress is their number one health and productivity issue, employers and employees can’t seem to agree on its cause. Alleviating stress has become a top concern for many companies. The American Psychological Association, however, reports less than half of workers say their organization supports their well-being, with one in three reporting chronic stress while on the job. Evidence that we still have a long way to go in creating a more relaxed, stress-free environment in the workplace.
What are the trends you’re looking out for in 2017?