Reinventing HR: 2019 Global HR Trends
Deloitte has just published the 9th “Global Human Capital Trends 2019 Report”, focusing on the theme “Leading the social enterprise: Reinvent with a human focus” and bringing together the insights by 10.000 executives in 119 countries.
What is Social Enterprise?
Deloitte defines the social enterprise as the organizations whose mission combines revenue growth and profit-making with the need to respect and support its environment and stakeholder network.
Deloitte states that the pressures driving the rise of social enterprise have become more acute this year, forcing organizations to move beyond mission statements and get real with reinventing themselves with a focus on "human".
Impact of Social Enterprise on Business
Deloitte research demonstrates that:
The respondents cite “societal impact” quiet often as they talk about measuring success as part of annual performance review.
Organizations value the social enterprise more and more over time.
Mature social enterprises expect greater growth for the upcoming year.
Top 10 Human Capital Trends for 2019
Based on Deloitte's research, here are the top 10 human capital trends for 2019 in their order of significance:
1) Learning (86% of respondents rated learning as important or very important)
Learning is the number-one trend and the most urgent need for 2019, globally! The evolving demands and today’s brand new roles require new skills and capabilities to be developed. Today’s business context evolves the corporate learning solutions as well. The three global trends in learning are as follow: Learning is becoming more integrated with work, more personal and more life-long.
2) Human Experience (84%)
“Employee experience” is being replaced by “human experience” to address the need for finding meaning in work. This takes us to a desired point where the employees’ aspirations are not meanto to impact only the organization but the society as a whole.
3) Leadership (80%)
Taking into account the new context we have all been going through, today’s leaders face unique and new requirements such as leading through change and ambiguity, understanding digital and AI-based technologies.
4) Talent Mobility (76%)
With a tight labor market, organizations focus more on internal talent mobility, and encourage their employees to move between jobs, functions, and even geographies.
5) HR Cloud (74%)
Over the past years, organizations have invested a lot in cloud-based HR systems however the current systems are not yet sufficient to fully meet today’s expectations. Considering cloud as foundation, organizations should start looking for more innovative and AI-based tools.
6) Accessing Talents (70%)
With the ever increasing need for new talents, recruiting has become harder than ever. In today’s context, accessing the talents is now harder than the talent acquisition. This requires designing a well-structured corporate framework for mobilizing internal talents, finding the right freelancers, and strategically utilizing technology in the recruitment processes.
7) Rewards (69%)
Rewarding is another area to concentrate on as the current reward systems in most companies are either not aligned with the organizational goals or cannot connect with the employees.
8) Superjobs (66%)
Use of artificial intelligence (AI) and cognitive technologies is in the agenda for many companies, hence transforming today’s jobs into the more digital, more multidisciplinary, more data-driven jobs of the future. This will give rise to “superjobs”, jobs combining different traditional roles and the new technology-driven new-generation roles.
9) Teams (65%)
Significance of teamwork gets more real and needed. Most leaders, however, do not know how to operate in cross-functional teams, leaving an important gap for companies to invest in.
10) Alternative Workforce (41%)
Alternative ways of working such as the freelancers are now mainstrem, and companies have already started to design best practices for both accessing and employing alternative workers. Organizations should now look out for ways of being more flexible and using these new work arrangements in a strategic way.
(If you are not familiar with the freelancer/GIG economy, please check out my previous article on “Implications of GIG Economy on HR”)
With all these 10 global HR trends falling under 3 main domains of invention, Deloitte offers 3 approaches to change: Refresh, Rewire, Recode!
You may click here for the full report of Deloitte 2019 Global Human Capital Trends.