According to the Society for Human Resource Management’s (SHRM’s) Special Expertise Panels, tighter labor markets, economic uncertainty and globalization are important issues that will shape the workplace and the HR profession in coming years. Some of the most recent challenges that have been identified by these SHRM panels include:
- Increased Competition for Talent: Companies are finding it more difficult to attract the best employees. In an effort to build a strong company brand to attract employees, HR professionals are highlighting cultures that show the fundamentals of a great place to work, including social responsibility initiatives, strong worker safety and security measures, and an atmosphere of respect in the workplace. The strong competition for talent is also influencing compensation and benefits strategies.
- Developments in Technology: With new developments in technology, comes increased flexibility and productivity in the workplace. However, such new developments also create challenges with managing employees and team building efforts.
- Economy: The economy will certainly influence hiring strategies and other HR decisions. Also, with increased globalization and political unrest in some regions, these will continue to create uncertainty with the economy.
- Demographic Changes: These changes include the aging workforce, different generations working together, family and parental roles, and increased cultural diversity.
It is impossible for an HR manager or professional to know everything; however, these insights from the experts help give an idea of which trends are likely to have the largest impact on HR and leveraging them can help companies with strategic planning.