Questions that never desist to amaze everyone are “What’s new?” and “What does the future look like?” The world of work and jobs is changing. The world is visualizing the future of work by predicting what can happen and whatnot. While only time will tell the accuracy of those predictions!
From ‘job’ as we know it to meaningful & sincere work
According to the global data from the population of about 7 billion, 3.5 billion falls under the demography of the workforce population. Out of which 60% lies within the informal sector. Considering the predictions drastic changes can be seen in the coming years.
Approximately 20 – 30% of the working-age population globally will be occupied in independent work aka “gig economy”. This evolution is visible in mature economies like the United States and Europe, as a significant part of the working-age population prefers to set off in a project-based model.
The traditional 9 to 5 office jobs are dying and offices will be more of discussing and meeting areas rather than a monotonous workspace.
If we take a look from our precious “IT sector”.
The four vital grouping of jobs that existed traditionally in the IT sector were:
Designing, Coding, Integration & Testing.
Present-day, the coding and testing part is varied to project-based roles and outsourcing business respectively.
For one of our prestigious clients in space, 30 to 40% of this work is operated through “gig projects”. The remaining in-house job left is designing and integration. The same is applied to various other job types.
This impulsion on the acceptance of an independent workforce is growing through digital platforms like freelancers, up works, etc. which are creating great opportunities for freelancers and buyers to connect.
Making a plan of work for the “born-free” generation!
Queries like an update in employee personal data, instant leave, getting salary slips, etc. can also be managed in a split second.
HR Tech will be new Fintech
HR tech start-ups are bringing a drastic change in converting the HR practices in the B2B business, lot of changes are anticipated ahead in the environment in areas of deep machine learning, artificial intelligence, and virtual reality to manage the workforce.
The potential is huge in the HR Tech market, there will be new investment opportunities. HR Tech will be the new Fintech that will come forward to provide integrated solutions for organizations in the future.
The Digital Way of Tracking the work and output:
What is an accurate and reliable method to demonstrate ROI in your work? Answers can be discovered by tracking your work efforts by acquiring data on the successes and failures within your plan. Verifying your ROI is essential because it will generate lead which will be beneficial. This tracking can effectively manage costs which will lead to better practices and overall growth in productivity.
With Talent Management being managed in a few clicks and taps, there has been a remarkable transformation in the level of efficiency at the workplace. To give an example –
When we talk about talent management and HR innovation, the first thing that comes to mind is the talent management dashboard (TMD).
A talent management dashboard gives hiring managers and recruiters a complete overview of their talent pool. This helps the hiring team to communicate with and nurture their talent in order to plan for the future.
A Talent Management Dashboard has 5 major functions:
- Performance management
- Engagement with talent
- Talent pipeline
The Intersection Of Artificial Intelligence And Human Resources
According to research by Desk.com, more than 22% of millennials expect a reply within 10-15 minutes of reaching out to a consumer brand.
That’s why a lot of consumer brands are rapidly turning to chatbots to offer 24×7 service and answer their questions right away.
This very well holds true for the HR sector as well, when it comes to managing life at work the employees today expect a higher quality experience. Chatbots and Artificial Intelligence are a natural solutions to meet these expectations.
These chatbots work in the capacity of a personal work-life assistant and help the workforce with anything and everything right from workforce queries or transactions to making data-driven decisions.
For example, if an employee wants to plan a vacation at 12 midnight, all he has to do is chat with the bot, and get it done in a short conversation.