This Article Is Authored By MSI Global Talent Solutions
The continued depth of disruption over the past few years is shedding light on the fact that HRM will remain in flux. The requirement to manage with innovation, creativity, flexibility, agility and a heightened employee focus is here to stay. This places HRM in a broader, more complex role. ‘Traditional’ HRM pillars have been challenged on a global basis with individual countries addressing the myriad of disruptions in their own specific ways. Careful, thoughtful HRM strategy and execution is the dominant theme for HRM, as country regulations and economic and social norms flex to competing demands. If one thing is constant, it is disruption.
From Reactionary ‘Patchwork’ Solutions to a Thriving HRM Ecosystem
If you look at HRM through a ‘disruption prism’ you can see how reactionary patchwork solutions do not have a fully vetted strategic plan. The world was evolving too quickly, as too many business and employee challenges escalate concurrently. No one knows what will happen next. How quickly can you put a patchwork solution in place to stabilize any given area? If you take a step back to move forward, now that you have patchwork solutions, do they align with your company’s business strategy today? Will they become a part of a thriving HRM ecosystem?
HR’s Focus Today while Planning for the Future
HRM’s preponderant priority shift to worker wellbeing and engagement has a greater sense of urgency due to the ‘great resignation’ as people exit companies in search of better opportunities (based on individual priorities). The shift includes employee wellbeing (health and safety), remote or hybrid work styles, reskilling and upskilling, and the use of contingent workers. If you look at individual countries, the ‘disruption prism’ would show these ‘hot topics’ at different levels of priority. The pandemic continues to provide constant disruption, particularly as a global health concern but also as a geopolitical issue. The ’disruption prism’ highlights competing impacts for the company in the short term when long-term planning is crucial. There are significant opportunities to build a strategic HRM plan based on the lessons learned during disruption.
Building a Long-Term HRM Strategy
Talent acquisition and retention strategies are in high gear as the ‘great resignation’ marches on. It is difficult to prepare for this level of uncertainty but there are opportunities to stave off a mass employee exit and build a strong long-term HRM Strategy:
Build clarity for workers on remote and hybrid work programs. People are demanding flexibility. Unless the job itself requires the individual performing it to be on-site, consider an appropriate remote and hybrid work strategy. The clearer you are, the more informed your workforce
On-site work remains a relevant model for other employee groups. Certain jobs require the worker on-site. Now you have three cohorts (remote, hybrid, and on-site) with differing needs governed by HRM in continuity across company goals, culture, values, and workforce policies.
Flexible work policies spread across the workforce are another area that employees find meaningful to support their individual lifestyles. What is important is to ensure flexible work policies align with your clients’ expectations.
Reskilling and Upskilling are opportunities for talent retention. ‘Technical expert career silos’ have given way to ‘broad brush career’ choices. With the push from millennials and Gen Z workers for more flexibility, everyone wins when there are more knowledge gained and shared opportunities, with the ability to experience different career choices. Assess what skills your company needs to fulfill its goals. Have new skills come into play because of the pandemic? Are others no longer needed? Are your education and training programs updated? Companies need broadly experienced talent to implement their strategic plans.
Talent Management is the largest entry point into talent development. It is designed to identify the skills and talent needed to support company goals and client requirements while increasing diversity, inclusion, and equity. What is your investment in succession planning? Is your goal to retain your talent and promote from within? Do you communicate this effectively? Or is your focus on talent acquisition? In today’s world, building workforce resilience is a requirement of your HRM strategy. Companies that solely focus on productivity will be missing the significance of reskilling, diversity, and equity – all required for long-term HRM goals and talent retention.
Technology Disruption is nothing new. And the workforce has learned to adjust to the rapidity of technology upgrades with great dexterity. HRM is adept at managing changes in technology as are companies. What is different is the significance of the changes required overnight due to the pandemic. And yet, companies rose to the challenge and HR was a strong partner to Technology in making these changes happen. With remote and hybrid work playing a substantial role in the future, collaborative technology will remain at the forefront, ahead of data analytics.
AI Disruption remains on course, as jobs continue to adapt to technology. When companies lose resources, they are not replacing them with the same skills.
The Future of Work
The ‘disruption prism’ can provide a new way of looking at your future as it shows the impact of what you need to address at any given moment and at all points in time. As a result, you will gain deeper insight into building a dynamic long-term HRM strategy. Companies have done an excellent job of managing short-term fixes. There are more to come. Long-term trends are slowly evolving, and much has to do with how to manage rapid changes. HRM’s ability to manage fluid, agile, ready-now, culturally adaptable, employee-focused, evolutionary environments will work. The best HRMs allow for employees in differing locations and workstyles, a variety of job choices, allowing personal situations and lifestyles, and workforce safety and wellbeing. Look at new opportunities for talent development, skills requirements, and workforce adaptability in this ever-changing environment. It is an investment in your workforce and your company’s future.
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MSI’s agile workforce optimization experts can help design and implement an HRM Program to optimize and deploy your mission-critical workforce and develop long-range strategies for success.
For more information, please contact MSI – at info@msigts.com