Talent Management Trends for 2020 and Beyond
Disruption is the new normal. We face disruption from economic changes, new working styles, technology — every aspect of work has either been a disruptor or been disrupted, and talent management is no exception.
The modern workforce is evolving at a rapid pace. Job categories and roles are being transformed or eliminated completely, while acute shortages in other areas emerge. Company leaders around the world are facing a yawning skills gap and competing heavily for the top talent they need to drive innovation and provide the experience their customers have come to expect. The increasingly blurred lines between the physical and digital spheres mean that leadership will need to take a new approach to talent management to find and retain the talent they need.
So what changes to talent management can we expect at the turn of the decade? What are the challenges facing HR and what should they do in 2020 — and beyond — to 'future-proof' their talent management strategy?
Here are three trends in talent management you need to start preparing for now.
Moving from Balance to Integration
We’ve all heard the term “work-life balance,” but in the future integration rather than balance will be the name of the game. So what’s the difference? “Work-life balance implies an opposition between work and the rest of an employee’s life,” says Daniel Levine, Director of the Avant-Guide Institute. “The future is the idea of work-life integration where people don't need to be somebody different at work than they are when they're not at work.”
This concept supports a more holistic approach to talent management and prompts employers to consider giving employees more purpose in their organizational roles. But it affects every aspect of the organization, even down to social mission. If employees don’t feel fulfilled at your organization, they’ll find fulfillment somewhere else. Carlos Castelán, owner and Managing Director of The Navio Group, offers some straightforward advice: “One way for HR managers to get ahead of this is to have regular check-ins with top talent to ensure they’re engaged and working toward their goals,” he says.
Planning for Disruption from Economic Change
The gig economy is unlikely to go anywhere, and its entrenchment is reflected in talent management across industries. When translated to more traditional work models, this often means employees aren’t coming into a job expecting to maintain a long relationship with that employer. “HR managers are starting to see trends on par with what happens in the military,” Levine says. “Soldiers spend five years on a tour of duty and then their mission is complete. That's what HR managers are looking at too.”
He says employees respond best to employers that offer professional educational resources. Returning to the idea of work-life integration, employees want to feel personally enriched by their work. When it comes to retention in this new economy, consider utilizing re-skilling pathways to allow employees to maintain mobility while still remaining at your organization.
Increasing Retention Through Engagement and Purpose
Employees understanding the value of what they bring to an organization is a critical trend that HR has to prepare to meet. Employees want to know that their contributions to their team and organization are both important and necessary. “Reinforcing the vision and goals through regular communication helps employees remember how their work furthers the organization’s mission,” Castelán says. “Communicating a clear vision and goals to employees allows them to understand how their work fits into a bigger picture and assures them that their work is important and meaningful.”
When employees have clear goals to work toward, they feel more purpose-driven and accomplished. Simply restructuring an employee’s workload to be goal-oriented and aligning those goals with the company’s vision — as well as frequent check-ins — can give employees the sense of purpose they need to be successful.
It’s possible to be prepared in the face of disruption. Let change guide you to success in the years to come.