Knowing what the future may hold would be difficult for any business to predict. However, it’s important that, no matter what might be ahead, companies prepare as much as they can for any shifts in the industry, economy, or within their businesses. This is why you can find coworking in Melbourne to New York.
Extensive technological advancements have been made over the years that few would have imagined would come to fruition. Additionally, the opportunity for more flexible work arrangements and an unpredictable economy has created unique requirements for businesses of all sectors.
These emerging trends have evolved into a methodology for extensive workforce planning that will help the businesses of tomorrow overcome whatever challenges they may be presented with.
Here are four trends that are impacting future workforce planning.
Remote Work Flexibility
The opportunities available for today’s employees to conduct their work from locations outside of the office are helping meet the demands of today’s workforce, be that within their home or from a coworking space.
Today, a majority of families live in two-income households. This can be difficult, as families try to manage multiple schedules or have positions in different geographic locations. With the emergence of remote work as a possibility for businesses today, these issues can be alleviated.
The flexibility in workstyles that come with remote work may be beneficial to individuals who require it, but it can also present unique challenges for businesses. From recruiting, to onboarding, to performance management, companies must have a sound structure for managing their remote workforce in place, especially as that workforce continues to grow.
Develop a plan for remote employees that covers everything from onboarding, to performance management. Also, be sure to outline a set of guidelines that should be followed by remote employees to ensure everyone is on the same page.
One of the realities many businesses must come to terms with, is that many situations are out of their control, particularly when it comes to the economy. Should the business sector fall victim to an economic downturn, it’s important that businesses are prepared to withstand the effects.
Developing a workforce that is strategically managed, trained, and developed is a crucial part of this process. When teams work as a unified group all working toward a common goal, they are more likely to be prepared to withstand the shifting demands of the economy.
Similarly, it is of strategic value for employees to make well-forecasted hiring decisions when filling vacant positions. Forecasting what needs the business may have within the next few months-to-years can help drive this strategy. The value current employees have had on the organization and what traits make these impactful players stand out can be strong indicators for how an individual applying for a position with similar characteristics may succeed at the company.
By using a well-suited HCM system for your business needs and an automated method of data collection, this process of analysis is more manageable for businesses of any size to practice.
A Multi-Generational Workforce
With the baby boomer generation nearing retirement, and the younger Gen Z preparing to enter the workforce, a vast style of employee workstyles will soon exist for businesses. Employers will need to be prepared for the various new training and communication styles that will exist amongst their teams. These employees come from a variety of backgrounds and experiences and will have different expectations.
In terms of recruiting, younger candidates will be looking for a company that can provide them with the most attractive offer, which will make the competition stiff. You will need to showcase your employee branding strongly in order to attract them to apply. Show off the benefits, competitive salaries, or amazing culture you have—whatever makes your company shine brightly amongst the rest.
Creating a data-driven plan to strategize for the future workforce effectively can help to fill skill gaps and maintain a strong employee satisfaction rating.
The entrance of multi-generational workplaces has also had a unique effect on employee expectations. Today’s younger employees are four times more likely to expect a job advancement of some sort each year than their older counterparts.
It can be challenging for businesses to find the appropriate balance between appeasing these expectations in order to retain their best employees and creating a culture of promoting employees who may not necessarily have earned them through their job performance. Employers should create a well-structured career development plan that outlines the steps an employee should take and the responsibilities of the position they are working toward. This helps eliminate any confusion and, when appropriately completed, avoids any wording that guarantees an employee’s advancement within a specific time frame.
Planning for the future may seem daunting, but with the appropriate tools and retargets at hand, logical decisions can be made to prepare for tomorrow’s workforce.