The Human Resource Function appears to be at a crossroad. In an era driven by Industry 4.0 breakthroughs, the power is shifting from organizations to individuals. While presenting formidable challenges, it also posits HR gurus with a unique opportunity; how can HR transform itself from a business and strategic enabler to a crystal-ball reading genie, who can predict business scenarios, workforce trends, competency mandates and prime the organization towards the future.
The unprecedented alteration in the HR landscape has led to conventional HR being replaced by a new skill-driven system ready to revolutionize the future of work itself. Everything from technology enabled frameworks to social media platforms, flexible and dynamic workspaces will be the major drivers of change in the way people are hired, trained, compensated, engaged, retained and re-hired.
Global megatrends reshaping HR
Events around the world shape the economic and political synergies of countries leading to shifts in consumer needs and thereby industrial trends, production outputs, new ways of working and seamlessly influences skill building and availability of a talent pool in new geographies. People will begin to trust engagement more than experience in terms of work with gig-culture dominating the resource stream, even among conglomerates. Digitally enabled enterprises will see global knowledge networks being the de-facto means of connecting with employees, vendor partners, stakeholders and end customers.
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