Today, the job and education scene in any part of the world is not isolated from that of the generic global scenario. So, it is fair to expect the happenings in the western world to have an implication in our lives in some way or the other. Brexit, the election of Trump as the president and the subsequent change in policies that he spearheaded and the liberalisation of trade in the middle-eastern countries have all had their effect in the job scene in the country. Consequently, the hiring trends were affected.
Other than the obvious implications for those looking forward to a change of job or fresher's looking forward to being hired, the global scene has also affected those who are already working. The effect here is noted in the form of a change in the HR policies and a number of new and upcoming HR trends. This article talks about some of the HR trends that are expected to revolutionise the job market in the coming months and years.
• Leveraging On Digital Technologies
Although decades have passed since the dot-com boom, the fact remains that with every passing day, technology is seeping deeper into our lives. The human resource departments of companies are using this in their favour and coming up with more and more uses of digital technologies in the world of talent and process management.
As of 2018, a number of companies are seen to come up with digital HR systems that foster better digital expense management for the employees and provide them with a digital platform for performance management. At the same time, it is ensured that the communication and performance monitoring is a two-way process and the employees are able to give their feedback to the concerned authorities as well.
In the past, this sort of comprehensive digital platforms was the privilege of only those working in large MNCs. However, in the first quarter of 2018, we are seeing this trend of HRs leveraging on digital technologies even amongst the smaller companies and with the passing years, the trend is only expected to rise.
• Promoting Local Languages
In the past, English was the only language of communication in any major firm or organisation and this was what they used to reach out to their customers. In the recent past, companies have realised that they can expand their reach by leaps and bounds if they are able to communicate with their clients in a language of the latter's choice.
Thus, while English remains the primary language of communication within the company (and good communication skills in the same are an absolute must), people having fluency in multiple languages are preferred while offering jobs or promotions.
Thus, in a situation like this, people with a flair for learning languages are more likely to land themselves with job opportunities. Having a deep understanding of the cultural nuances in specific markets will make candidates highly sought-after in this growing trend of localisation in the world of human resource.
• Recruitment And Retention
The past generation was one where getting a job was the supreme thing to do and once you had that your life was considered to be stable by Indian standards. However, the latest HR trends suggest that the situation is no longer as simple as that. Since the beginning of the year, it has been noted that a number of companies (both MNCs and start-ups alike) are retaining only those talent that they feel is contributing to the company's growth. The rest of the people are merely sacked.
A number of MNCs have actually sacked thousands of their employees. However, what is interesting to note here is the fact that most of the employees who are sacked by a company soon land themselves with jobs in other companies. As per reports, less than 10% of the qualified employees who were sacked by an organisation had to wait for more than a month before being hired by some other firm or organisation.
While it is difficult for us to comment on whether this HR trend is a positive or negative one, the best thing for us to do would be to wait and watch the consequences of this on the economy of the nation.
• Diversity And Inclusion
The Indian society has always been one that has emphasised the importance of diversity and inclusion. However, till a couple of years ago, the same could not have been said about the employment scene in companies. In the recent past, more and more companies are seen to be focusing on creating a diverse workforce.
Support jobs that previously preferred people from certain ethnic backgrounds are today seen to be welcoming talents from all regions with open arms; technical jobs that were previously considered to be the privilege of men are today including more and more representatives of the fairer sex in order to foster gender equality.
This positive HR trend has been highly beneficial for the society at large. As of May 2018, 50% of the employees in Johnson & Johnson are women. The same can be said about 48.7% of the managers in P&G. TCS has employees from every state and union territory of India.
• Supporting Work-Life Balances
In the Indian scenario, hundreds of small and large businesses are now giving their employees the opportunity to work from home or to work in flexible timings. This HR trend is seen to be growing in the recent months and the same is expected to rise exponentially in the coming ones.
The reason for the growing popularity of this trend is the fact that this is a win-win situation for both the employee and the employer. By allowing the employees to work at the time of their convenience, you are valuing their time. The employees will realise that this policy is something that is allowing them to do justice to their personal responsibilities.
This will make them value the company more and they will make sure that they put their best foot forward all the time. As a result, the employee's productivity will increase which will pave way for the betterment of the company at large.