Five forces shaping the world of HR

By: | Published: December 3, 2018 1:50 AM

Randstad, the global HR consulting firm, has attempted to define the five forces that will shape HR and the world of work in the coming years.

Randstad, the global HR consulting firm, has attempted to define the five forces that will shape HR and the world of work in the coming years.

The world of work transforming. It is disruptive, it is fast-paced, and we are still a few ways off from discovering what the end-product will look like. Change has come rapidly, including in the field of human resources (HR). Randstad, the global HR consulting firm, has attempted to define the five forces that will shape HR and the world of work in the coming years.

Mind the gap: There is a gap between what HR needs to be and what it looks like. Most leaders agree their functions need to transform from being transactional partners, however excellent, to brilliant strategists for the digital era. This requires a deep understanding of how people strategies solve real problems and impact business. It calls for skills that enable change management, transformation and strategy enablement to address VUCA scenarios.

A millennial-first workforce: They form the age demographic of 22-37 years. Estimated at over 60 million, they are the largest generation in current workforce, and constitute more than 20% of leadership positions. They are the millennials, and they carry a bunch of myths and facts, and misconceptions and truths. They evoke respect and admiration in equal measure as they confound talent specialists, HR professionals—and even CEOs.

The ‘day after tomorrow’ workplace: Into the future, work will play a central role in people’s lives as a powerful means of social identity. It will be a tool for economic independence, personal fulfilment, social inclusion. There will be transformational shifts—people expectations, technology, demographics, globalisation. It will be the end of work as we know it. But it will also be the beginning of new realities of work.

The impact of Industry 4.0: We have seen a new way of technology overtake our world every few decades. The steam-powered first industrial revolution, the electricity-driven second, the automation push of the third … as we face Industry 4.0, we must think of its impact on our world.
Re-imagination: HR needs to rethink its future purpose to reimagine itself for the workplace. HR needs a seat at the business table; it needs to align with business outcomes. It shouldn’t be looked at as an individual function orbiting the business.

The full report can be accessed here: https://goo.gl/D8wffG

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