Human Resource Trends for 2017
As 2017 rapidly approaches, organizations are discovering that to best meet their HR goals, they may need to change their approach. Following are four of the major Human Resource trends for 2017.
Artificial Intelligence in HR
AI will become more and more prevalent in 2017. From predicting turnover before it happens to conducting on-the-spot text screening interviews via new SaaS platform, Olivia from www.recruiting.ai, we are only seeing the beginning of how artificial intelligence will impact the HR department.
Investing in Big Data Technology
“Big Data” refers to the capability of technology that can instantly make sense of millions of pieces of data. More organizations, with 100 or more employees, are expected to spend dollars to purchase some type of Big Data analytics to remain competitive in 2017. Big data analysis improves HR results in every aspect of successful hiring practices.
Bad hires cost businesses huge amounts of money. Big data helps businesses to increase their prospects of good hires. In the past, HR personnel made selections after spending hours, or days, reviewing applications and resumes. Big data analytics combines information from a variety of sources, including online resume databases, social media profiles, assessment results, employment records, and applications. Incorporating a pre-employment test with a validated, position-specific benchmark can dramatically improve the quality of your hires.
Improve Employee Performance
Big data allows organizations to track, evaluate, and communicate employee’ performance which increases individual incentive and participation. Some businesses incorporate wearable tech into their operations so that management personnel can track where their employees spend the most time, evaluate their performance data, and listen in to their communications with customers or co-workers.
Increase Employee Retention
Big data analytics can combine multiple sources of information that help businesses identify issues that result in employee discontent, and the reasons employees choose to stay or leave. Xerox is one example of a large organization that reduced employee loss by 20% after instigating big data analytics
Recruitment efforts are enhanced by big data as businesses become aware of, where to successfully post job openings that are attracting their ideal candidates. Employers can choose from thousands of career sites from around the world, and know which generate the highest candidate responses (our Prevue APS Pro provides excellent reporting on candidate sources!). For recruitment purposes, big data allows organizations to:
- Designate online recruitment efforts to those sites that provide the highest performance, at the best cost
- Be knowledgeable as to where potential employees are searching and responding to job postings, whether it is by job board or classification, job title, location, or skills
- Discover where competitors are posting similar job positions
- Target desirable candidate’s faster
- Determine effectiveness of recruitment efforts from initial postings to hire
Wellness Program Expansions
Investment in wellness is expected to keep on growing. Trillions of dollars are incurred by businesses due to loss of work related chronic disease, stress, on-the-job injuries, and worker disengagement. While the top priority for employers may be reducing healthcare costs, wellness programs help to attract and retain top talent, while reducing absenteeism.
Increase in Blended Workforce
A top HR trend is the anticipated growth of freelance workers working side-by-side with permanent workers. The gig economy, where there are many temporary positions available for independent workers to fill, on a short-term basis, is creating a new kind of diversity in the work environment. The gig economy is growing, in large part, because of new regulations directing increases in the minimum wage, overtime pay, and tightening rules for part-timers.
What trends are you seeing for 2017? We would love to hear from you in the comments.