Source | Forbes : By Dan Schawbel
Every year I give my top 10 workplace trend predictions for the upcoming year. You can read my predictions from 2013, 2014, 2015 and 2016 if you missed them. These trends are based on hundreds of conversations with human resource executives and workers, a series of national and global online surveys and secondary research from more than 160 different primary and secondary research sources, including think tanks, consulting companies, non-profits, the government and trade associations.
Between 2016 and 2017, the job market will continue to improve causing both job seekers and employees to have more leverage, which will cause salaries to increase and employers to invest more job advertising, staffing firms and employee benefits. Depending on who becomes the next president of the United States, hiring may freeze, slow or continue its current trajectory. The demand for a more flexible work environment will continue and you will see an emergence of HR practitioners with new skills, including people analytics, Internet marketing, branding and knowledge on new technologies like virtual reality and wearables.
The major economic and business themes over the past year have been focused on the war for talent, creating an employment experience for job seekers and candidates, overtime and compensation, the end of the annual performance review, the continued skills and leadership gap, the rise of Generation Z and the shift to the on-demand workforce. These trends have all impacted how companies recruit, retain, train and structure their workforce for the future.
The top workplace trends for 2017 include:
1. Companies focus on improving their candidate and employee experiences. Companies have always created marketing experiences for customers, and prospects, in order to delight them, increase loyalty and grow their revenues. Next year, you will see the walls come down between your HR, marketing and customer service departments in order to develop experiences for both candidates and employees. A recent study found that nearly 60% of job seekers have had a poor candidate experience and 72% of them have shared their experience on an online employer review site such as Glassdoor.com. When employers don’t notify candidates of their application status, they are discouraged from ever applying for another job at that company again, which limits their future talent pool. Furthermore, a bad candidate experience can turn away customers who may be your candidates, thus resulting in a loss of potential revenue. Virgin, for instance, created a new candidate experience for the thousands of people they are unable to hire out of the 150,000 applications they receive annually, and have created a new seven million dollar revenue stream by creating a better experience for them. Aside from candidates, employee retention and engagement have become some of HR’s top issues as top talent has numerous employment options and productivity is key to growth. In another study, it was discovered that 83% of HR said that “employee experience” is either important or very important to their organizations success, and in order to enhance the experience, they are investing more in training (56%), improving their work space (51%) and giving more rewards (47%). 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, which has saved the company over $130 million dollars.