Globally, today’s workplaces are rapidly evolving. Increasingly, making an exit is the traditional Monday to Friday, 9am to 5pm office workplace. There has been a global paradigm shift towards more flexible ways of working, and the COVID-19 pandemic has largely accelerated and been the catalyst behind this shift.
As a result, employees are seeking more flexibility from their employers and a better work/life balance.
Organisations and HR professionals need to be able to quickly adapt to these changes to be able to attract, recruit and retain the best talent, and ensure continued success into the future.
What is human resource management?
Human Resource Management (HRM) relates to the recruitment, support and management of an organisation’s workforce.
Some of the functions HRM may have within an organisation include:
Developing HR policies and procedures
Developing career and development plans
Improving collaboration and communication among staff
Actively seeking and offering training opportunities
Responding to employee queries and requests
Fostering a culture of diversity and inclusion in the workplace
Maintaining channels for regular employee feedback and follow-up
Having highly-capable HRM professionals in place is crucial to securing and retaining an organisation’s greatest asset – its people.
One of the core functions of HRM professionals is to empower employees to be able to do their best work and feel valued – and one of the most powerful ways they can do this is by actively listening to and responding to their needs.
This means HRM professionals need to be constantly aware of new and emerging HR trends to be able to quickly and effectively respond to workforce needs.
Here are the top 3 HR trends human resource professionals need to know about:
1. Hybrid working
The global COVID-19 pandemic brought about a transformation in the way people work globally – not just during the pandemic and subsequent lockdowns, but also now and into the future.
Lockdowns meant many employees around the world were mandated to work from home, but this new way of working highlighted to many employers the fact that employees can still be productive even when they’re not working in the traditional office workplace.
As a result, hybrid working has been embraced by an increasing number of companies worldwide. Hybrid working is a mix of working from the office and working from home (or remotely).
Just some major successful global organisations that have adopted this hybrid working trend include:
This list continues to rapidly grow as employers look to remain competitive in a global job market where attracting and retaining the right talent has become increasingly challenging.
2. Greater employee expectations and ‘The Great Resignation’
This shift towards more flexible ways of working has meant that employees are looking for more from their current and prospective employers, as they seek a better work/life balance and better conditions.
It has also sparked ‘The Great Resignation’ in recent times, where amid tight labour markets, employees have been quitting their jobs in droves to seek better opportunities elsewhere. In the US, it was reported that the top reasons employees quit their jobs in 2021 were:
Employers therefore need to, more than ever, effectively respond to evolving employee needs and expectations to attract and retain a successful workforce.
3. The gig economy
Further reinforcing the shift to more flexible ways of working, the gig economy is fast gaining popularity around the world. The gig economy is where self-employed individuals engage in work that’s usually on an as-needed, short-term basis – that is, they work ‘gigs’, much like entertainers do.
Gig economy workers aren’t employed by the organisations they work for – they’re self-employed, independent contractors, often working for a variety of clients. This gives them the flexibility to work on their own terms – where and when they prefer to.
According to the Harvard Business Review, around 150 million people in North America and Western Europe work as independent contractors, predominately in creative and knowledge-intensive industries.
How can an MSc Human Resource Management help you deal with the rapidly-changing HRM field?
Navigating Human Resource Management and what’s needed to attract and retain a thriving workforce has become increasingly complex in today’s global business world and job market.
An MSc Human Resource Management can equip you with an in-depth knowledge and understanding of the new and emerging HR trends in the global workplace, empowering you with the expertise to confidently lead your organisation to continued success in a challenging global environment.
If you want to understand how to better adapt to current and future HR trends, discover how our online MSc Human Resource Management can empower you to effectively attract and retain the best talent and lead global workforces to success: