TOP 5 MARKET TRENDS IN HR FOR 2021
The year 2020 saw an enormous shift in the concerns of HR departments: from reactive firefighting to proactively leading their company through the pandemic. As we enter 2021, the focus is likely to shift again. The HR department must be ready to handle all challenges that may arise due to the pandemic and beyond. Here are the top five market trends in HR that companies must watch out for this year:
1. Diversity, Equity, and Inclusion (DEI)
Following the Black Lives Matter movement and the pandemic’s disproportionate impact on minority communities, DEI or Diversity, Equity, and Inclusion have become an essential focus area for HR. Companies now need to ensure that they are providing a fair and inclusive workplace for all their employees. Companies that don’t proactively work on creating and maintaining a diverse, equitable and inclusive environment are now at a disadvantage regarding competitiveness for talented employees in their industry.
2. Mental Health and Wellbeing
The pandemic’s impact on mental health has turned it into a significant focus area for HR departments. Companies are offering mental health training to managers, access to virtual resources, and regular check-ins with employees to improve mental wellness and mitigate burnout. In 2021, we anticipate that employers with a robust mental wellness program will be the most successful as they support their employees.
3. Remote Workforce Management
With the prevalence of remote work as a result of the pandemic, HR departments should be prepared for the new reality of managing remote workforces. This reality means putting in place robust remote training processes for managers and new hires, ensuring effective communication with virtual team members, and implementing modern technology to ensure productive remote collaboration. Companies that get this right will have an edge in attracting top talent that values a virtual work/life balance.
4. Humanizing HR Support Services
Companies are beginning to realize that HR support services should not only exist for the sake of processes and compliance. They must provide a human touch to ensure better employee satisfaction, engagement, and loyalty. HR departments should prioritize service orientation and encourage HR staff to offer customized support to show e employees that they care about them as human beings. This trend is likely to continue this year, and companies that invest in humanizing HR support are sure to reap the benefits.
5. Artificial Intelligence (AI) in Recruiting Processes
US companies have found it increasingly difficult to fill vacant positions with the right candidates. HR departments are turning to AI-based recruiting tools to help streamline their recruitment processes, screen candidates, and even conduct initial interviews. Companies that use AI effectively will be positioned to find top talent quickly and create a more diverse workforce through more impartial recruitment processes.
In conclusion, the HR landscape has dramatically changed over the past year, and companies need to adapt quickly to succeed in 2021. The five market trends discussed in this article should help you understand possible ways to pivot your company’s HR strategies to remain competitive and expect success in 2021 and beyond. The most successful HR leaders will be those who proactively adapt their organizations to reflect the changing HR landscape.
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