Agile and social models are changing performance management, rewards, coaching, goal-setting and development. How you engage with your workforce will directly correlate with how to maximize the productivity of employees whilst giving the best possible opportunities for development.
CHROs and industry experts share their insight on what 2018 holds for HR.
By Audrey Roth
In the coming year, constantly evolving technology and the growing demands to attract, retain, and engage talent will cause dynamic change in the HR industry. HR leaders must be prepared to face the challenges of a year of transformation.
The last few decades have seen a steady climb of increased use of cloud-based HR systems, but in 2018, expect to see nearing full adoption of this technology. According to PwC’s 2017 Human Resource Technology Survey, 68 percent of organizations had at least one HR process in the cloud two years ago. In 2017, that number has climbed to 73 percent, with nearly 40 percent having their core applications in the cloud.
In 2018, expect a further push toward an employee experience that mirrors consumer experience. “Flexible, easy, personalized, intuitive, slick, and mobile-first,” says Dave Almeda, chief people officer of Continue reading →
Five strategies that help create a more fulfilled workforce.
By Derek Irvine
In today’s global, modern workplace, the concept of bringing more humanity, recognition, and social connection to the employee experience continues to gain momentum. Forward-thinking HR and business leaders are realizing traditional performance management methods have become archaic. It’s no longer about just getting more from employees. Rather, it’s about managers and company leaders giving employees more to help them find value and meaning in their work.
A new survey of U.S. workers released by the WorkHuman Research Institute indicates that workplaces that incorporate continuous performance feedback, company-wide celebrations of employee milestones, and diversity and inclusion initiatives, are more likely to establish stronger senses of trust, belonging, and respect among employees.
Organizations can use these workplace practices to create a more productive and fulfilled workforce.
Worker confidence is up, but trust in company leadership is on a steady decline.
By The Editors
The Worker Confidence Index (WCI) for the third quarter of 2017 increased by 2.8 points after significant drop of 7.9 points in the second quarter. WCI now stands at 102.5. Of the four components of the WCI, only likelihood of promotion rose by 3.2 points in the third quarter of 2017, while other components remained virtually the same. Other indicies—job stability, likelihood of raise, and trust in company leadership—measure similarly to the third quarter of 2016.
Workers remain secure about job stability. After a sharp decline in the first quarter of 2017, job security quickly rebounded, and now stands at 104.8, about where it was five quarters ago. Lack of concern about job loss is the most important indicator in estimating worker confidence about current and near-term financial outlook.
Females once again reported higher levels of confidence in job security than males in the third quarter of 2017.
HR can expect transformation in every sector in 2018.
By Amy L. Gurchensky
HR partnerships and engagements have remained in a stable state of predictability for years, but changes within the business landscape are now occurring at an increasingly accelerated pace. Organizations are experiencing industrywide transformation, and HR services are being forced to respond. This reaction is yielding great innovation which is happening at a fast rate. This is also driving the need for transparency and investments in technology across all HR functions.
Based on research and this year’s activity, there are key developments within each HR sector from 2017, and a roundup of trends for 2018.
In payroll, the focus is on technology first and services second. By the end of 2017, approximately 80 percent of payroll service contracts will be delivered on cloud systems. Cloud adoption is also beginning to move downstream to the small- to medium-sized enterprise market.
Learn more about the 2017 CHRO of the Year and Talent Acquisition Leader of the Year EMEA Leaders of Distinction winners.
By Christa Elliott
CHROs and talent acquisition leaders are the driving forces behind a company’s culture and productivity. The processes of finding, selecting, and managing employees are never simple, but thanks to the vision of great HR leaders, organizations have the ability to attract and retain top talent at all levels. The 2017 CHRO of the Year EMEA and Talent Acquisition Leader of the Year EMEA Leaders of Distinction have taken the necessary steps to accomplish this for their organizations, and these awards honor their great work and accomplishments.
The 2017 CHRO of the Year EMEA and Talent Acquisition Leader of the Year EMEA Awards recognize CHROs and talent acquisition leaders who have responded to industry changes and challenges with creative programs and attention to the unique needs of the business they serve. The award winners were announced at the HRO Today Forum EMEA in November in Dublin (see page 4).
Five key elements essential to developing effective leadership programs.
By Janice Miller
In today’s competitive business landscape, organizations need strong leaders to transform the workplace and lead in ever-changing futures. Companies that have figured out how to create competitive advantage have also recognized the business benefits of senior leadership development programs.
When done right, senior leadership development programs have a measurable impact on a company’s financial performance and competitive position. In fact, Harvard Business Publishing Corporate Learning’s 2016 State of Leadership Development survey found that best- in-class programs are 94 percent more likely than aspiring programs (those that require improvement in some areas) to make a significant impact on financial success and 70 percent more likely to have a big impact on competitive performance.
Best-in-class leadership development programs address specific business challenges, help senior leaders understand what’s unique about their organization in the market, and align program elements in order to drive identified strategies forward.
By leveraging technology and research, HR can demystify the open enrollment process.
By John Hull
Benefits enrollment happens around the same time every year. But even with the same tune being sung, the same instructions being given, and the same procedures being followed, many employees never feel comfortable or familiar with the process. According to the 2017 Aflac WorkForces Report, when respondents were asked about their understanding of overall policies, deductibles, copayments, and providers in their network, only 24 percent of employees surveyed could say that they understood everything.
This lack of confidence can lead to holes in employees’ coverage. The same Aflac survey revealed that employees’ lack of comprehension is a costly problem. More than half of respondents—55 percent—said they waste up to $750 per year by making mistakes during open enrollment. The common theme is clear: Employees need more information, more guidance, and more confidence in their benefits decisions.
Corporate scandal continues to cost companies
By The Editors
The impact of corporate reputation on employer brand is more significant than ever before and directly affects the cost of hiring, finds the 2017 Cost of a Bad Reputation study from HRO Today and Cielo. This year’s results show that with the U.S. unemployment rate continuing to drop and the economy projected to expand moderately at 2.2 percent into 2018, organizations have to be more aware than ever of the impact of a bad reputation on their employer brand.
According to findings from this year’s study, 61 percent of currently employed respondents were willing to leave their current employer to work with a company with a bad reputation, about the same as the prior year. Males remain much more likely than females to take the job, at 69 percent versus 52 percent, respectively.
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Organizations that help workers eliminate student loan debt earn a greater payoff: increased productivity, loyalty, and retention.
By Michael Fenlon
With outstanding student loan debt at a national high of over $1.3 trillion, more than 44.2 million Americans are burdened with student loan debt. Along with increased stress, debt is having secondary impacts on many professionals and affecting when they are starting families, buying homes, and how they’re saving for retirement. These obstacles have a negative impact on overall workplace wellness by decreasing productivity, leading to disengagement, and even undermining physical health.
Companies must recognize that the needs of staff evolve over time, and the workplace must transform to meet them. It’s no longer enough to match the benefits of competitors--organizations need to stand out and demonstrate an understanding of what is important to the workforce. And helping to alleviate the stress of student loan debt is clearly important to millions of workers.
Take a closer look at how Shop Direct revamped its recognition strategy during a big transition.
By Christa Elliott
Today, Shop Direct is a multi-brand, online retailer serving the United Kingdom and Ireland. The company’s 4,700 on and ofﬂine employees successfully ship more than 50 million products every year, but its digital success was a long time coming. Only after transitioning to an online platform and rethinking the way that it recognised its workforce was Shop Direct able to meet its full potential and become the retail success that
it is today.
Shop Direct was born from the iconic British retailer Littlewoods—a company founded more than 80 years ago when mass-market retailing was in its infancy. Although Shop Direct became a brand well-loved by consumers, the shift to online shopping and marketing over time meant that the U.K.-based retailer had to adapt alongside industry developments or risk becoming obsolete.