Post pandemic, using HR management tools to survive in industry has become vital.
Human resource management is a challenging part of the corporate world. A skilled and efficient staff plays a vital role in taking the organization to greater heights while an underqualified workforce can hinder the growth of an organization and the HR department helps the workforce to give their best performance.
But, gone are the days when employees were shedding their blood and sweat just to keep your company going irrespective of work culture, the scope of their growth, and payscale.
Since the pandemic things have changed a lot. The pandemic has given them a chance to reevaluate their value and made them vocal about things like poor working conditions, unfulfilling work profiles, improper pay, etc.
This has given rise to two emerging trends in industry one of them is Great resignation and the other is the Anti-work movement.
According to a study, the great resignation of 2021 has had a great impact on the job market and economy which is still being felt in 2023.
Not only this but the pandemic has changed many facets of the HR industry which is going to rule for a longer period of time. Let’s deep dive into emerging trends in HR of 2023 and see how HRMS Software are going to help in managing these changes.
Significance of HR trends
The pandemic has created a great void in almost every organization. Currently, the USA is experiencing great resignation, eleven million plus vacancies, and low employment. Every organization is looking to fill the space as soon as possible, but on the other hand, candidates are looking beyond only monetary gain.
People have started prioritizing work-life balance than money. This has created the biggest challenges for HR managers. Recruiting new employee and retaining them for a longer time has become more challenging.
According to SHRM it takes 36 days and about 4000$ to recruit a new employee. After putting this much time and money what if employee leave in perioud of less than one year??
Understanding the cost of employee turnover can help organizations prioritize HR trends like improving onboarding processes, offering mental health and wellness support, and considering flexible work models, all of which can contribute to employee retention.
But following HR trends will help you to recruit quality candidates and lower employee turnover ratio.
Following HR trends will help your organization in many ways like
- The flexible work model has helped to reduce employee turnover by 20%
- There will be more focus on skills like social, emotional, and cognitive skills of employees
- Companies started considering the more holistic approach in terms of employee well-being for a healthy organizational culture
- 52% of the workforce started considering contributing to the gig economy by 2023.
Top 6 Biggest HR Trends of the Year 2023
1. Job flexibility and Hybrid Model
The very first criteria in the list of emerging trends in HR is to adapt hybrid work culture and offer job flexibility.
Working from the site and remotely is one of the first trends of the pandemic. Remote work was introduced as the solution to the lockdown, but after experiencing working from the office and remote, employees got the opportunity to decide.
Around 77% of companies experiencing higher-growth companies showed higher productivity levels when employees were given the option of hybrid working.
It is seen that the hybrid model of work is beneficial for both small and large companies while acting as a happy medium for working in-office and remote work.
In addition to this, employees also get flexible schedules, while spending less time and money on getting ready and commuting.
It is expected that in the future the department will need more HR management tools to support leaders and employees in smoothly changing their schedules while staying productive and efficient at home. More than 34% of companies will adopt a hybrid model and here are some HR initiatives to take.
Develop Policies To Address Issues
The HR department needs to bring policies to solve various challenges regarding discrimination, timekeeping, attendance, and regulation for the smooth working of the operation.
Various Assessments To Find Whether Candidate Is a Good Fit
Companies can carry out a variety of skills assessments and personality tests to find if the candidate will be suitable for the hybrid model.
And, for the current employees, a transition to a hybrid role, the human resource department needs to evaluate their past performance to find challenges and solve them first. This way they can avoid chances of great resignation also to a great extent.
Have The Right HR management tools
For the best management of your staff in the transition, you need to access the best HR management tools, such as tested performance management software, in your technology stack to meet the basic requirements of the hybrid position. There are several lead enrichment tools available for recruiters to enrich the business and personal data of the candidates and staff.
The HR department needs to bring policies using tools similar to Tettra but with more features to solve various challenges regarding discrimination, timekeeping, attendance, and regulation for the smooth working of the operation.
2. Online Screening Assessments
Online screening assessment is an important and second most emerging trend in HR for making the hiring process fast and hassle-free. For remote hiring, the candidates will be first assessed for their skill and expertise in online mode without walking to the office for the pre-hiring assessments. It is a great way to find suitable candidates from the hundreds of applications and do the primary screening of the candidates.
However, ensure you carry out the primary screening tests with video, audio, and screen proctoring to prevent any malpractices. You can carry out the primary screening tests in an automated way or include the following primary knowledge assessments.
A basic coding assessment can help HR recruiters to evaluate the coding skills of the candidates and easily filter out candidates with strong coding skills. This can be useful when you’re hiring software engineers or related profiles for your organization.
The coding assessment questions can be customizable as per the requirements. However, ensure the test interface is easy to understand and intuitive to help candidates quickly attempt with minimal instructions.
Aptitude and Emotional Intelligence Tests
These tests are quite popular to assess the candidate’s mindset for handling a situation while the emotional intelligence tests are conducted by the HR recruiter to judge the behavior of the candidate.
Skill Based Tests
These tests are designed to check the domain knowledge of the applicant and find their suitability to perform certain responsibilities of the job.
3. CV Shortlisting Automation
The number of applicants per role varies from company to company, but commonly a large number of applications are found for every vacancy. This makes it necessary for the HR recruiter to choose the candidate for the job by going through every CV.
But with proper HR management tools, you can automate the CV shortlisting process. AI-based software shortlists the CVs by inputting certain keywords into the software. By providing more keywords, you’ll be able to carry out more accurate screening.
4. Improvised Onboarding Processes
The hiring process has been streamlined to provide the best onboarding process for the new hires. Delayed responses or miscommunication is one of the major reasons for the dissatisfaction of new hires, which can be completely removed with technology.
Large corporations will automate the onboarding process using the latest technology to face the current HR trends and challenges and design a process for the smooth onboarding of new hires. They can even outsource their global expansion strategy to PEO companies which will help them save time and effort in the recruitment process overall.
5. Diverse Mental Health And Wellness Support
WHO defines mental health as the state of well-being in which everyone can work to their full potential, cope with daily stresses and work productively to contribute to the well-being of the community.
Though mental health is seen as an individual responsibility, the workplace also plays a vital role in promoting mental health and well-being. The workplace provides a sense of purpose and opportunities for social interaction that protects the candidates from isolation and exclusion.
The workplace can also be a source of stress if it is demanding, challenging, and inflexible and can lead to anxiety, and depression and negatively impact employees’ morale and job satisfaction. The issues associated with mental health can cost companies a significant amount of money.
However, HR department have increasingly started focusing on the mental health of their workforce. Offering mental health programs and services is one of the new trends in HR in the year 2023, that will boost companies’ productivity and create a positive work environment.
6. 4-day Workweek
The growing movement to reduce the workweek to four days while keeping the employee’s pay and benefits the same will help employees maintain better work-life balance and reduce stress levels. In addition, modern technological advancements have made it easier for companies to implement flexible work arrangements, allowing employees to work remotely and even generate a pay stub seamlessly through digital platforms, further contributing to a streamlined and efficient work environment.
Shopify, Kickstarter, and some other companies have added Friday to the weekend and are gaining popularity amongst other companies to support workweeks and demand the best quality of life.
These are some of the emerging trends in HR that will be implemented in 2023 and improve the work environment. And, following all these measures also helps recruiters to hire better and faster while making long-lasting connections with their employees and future hires in the situation of Great Resignation.
To keep up with the challenges the HR department might face, opt for fully customizable software solutions to have actionable data at hand and improve overall functioning.