Millennials value personal development and their increasing omnipresence in the workplace will result in employees responding accordingly. Technology has facilitated accessible and on-the-go means of training, and apps and video training are likely to enter the limelight in the coming year. Gamification is also on the rise and something to watch out for in 2017.
Why consider it? Training employees can be advantageous to both parties; employees will feel valued and will perform better and employers will benefit from increased productivity, reduced turnover and improved company image. Millennials prefer learning benefits to desire cash bonuses (22% vs. 14%)
⅓ of employees in the U.K. are looking to move job. As a result, it has become more important than ever to make workplaces attractive. Millennials have motivations beyond personal financial gain and stress the importance of a good work-life balance. We see a bigger focus on the employee experience, as workplaces adapt and employers spend increasing amounts on improving working environments.
83% of HR professionals said that the “employee experience” is either important or very important to their organisation’s success.
In an age of ‘Glassdoor’ transparency, this is hardly surprising.
Handy hint: Try and improve your candidates’ experience when they come for interview. Word of mouth is incredibly powerful and they are much more likely to recommend your workplace to their peers if their experience is positive.
New HR tools and websites are cropping up every day (OK maybe not every day, but you get the gist). However, their uptake has been somewhat slow… It is up to HR professionals to start utilising all that is at their disposal – a trend we predict to be big in 2017. In the 21st century, businesses must adapt to the times and this need to stay relevant applies to the HR world too. Wearables and Virtual Reality have recently come onto the scene and as employees start to use these in their private lives, it is to be expected that they will desire their use in their work lives too.
Handy hint: Check a blog post from Perkbox on the best HR tools out there to help you get ahead of the trend and make the first step towards going digital.
A large proportion of the professional workforce of today is comprised of millennials, who are accustomed to instant gratification on social media (likes, follows etc.) and quick and easy access to the wealth of information on the internet. They tend to expect instant feedback at work, too. Regular, one-to-one reviews are becoming more prevalent and are expected to continue to do so in the coming year.
Example: Adobe last year ditched their formal annual performance review in favour of regular feedback sessions and have since seen a 30% decrease in turnover and a 50% increase in involuntary departures.
People will, we believe, quickly see the advantages and follow suit.
Handy hint: Next year, try to encourage peer-to-peer feedback, rewards and recognition, as well as top down!
Only 8% of companies believe their current performance management process is highly effective in driving business value
There is no denying that the population has become increasingly health conscious and this concern extends to the workplace. The use of wellbeing programmes to attract and retain top talent is growing. Compared to last year, health-related employee benefits have increased by 58% and wellness by 45%, which will continue into 2017.
Why consider it? Investing in a wellbeing programme show that you are making a conscious investment in your employees and can garner their trust and improve their satisfaction.
People analytics are becoming increasingly common and more and more companies are using employee data to shape HR strategy. New tools are emerging that allow HR managers to measure people data and give indications of employee satisfaction. Up until now, many HR experts are “algorithm phobes,” favouring human judgement over data. 2017 is the year to change this.
Why consider it? IBM has used people analytics to predict retention risk for employees in key job roles, and notifies managers so they can prevent them from quitting. The company reports that this has saved them over $130 million dollars.
“Digital transformation is not just shiny, new technology — it’s a new way of organizing, engaging with customers and employees, and how we build networks of expertise and trust – through cooperation and collaboration.” Jeff Welstead
So there it is. Overwhelmed? Don’t panic. Try to pick up one or two of these tips and gradually incorporate them into your HR strategy over time. Don’t try to make drastic changes in a ‘New Year, New HR Vision’ hysteria!
Post originally from Perkbox website. To find out how we're working with Perkbox to bring improve employee engagement, visit http://dpgplc.co.uk/perkbox
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