AUTHOR: Jonathan Crawford, Head of Business Development, Mindmill
We’ve all heard of the age old saying; “The only thing that is constant is change.”
The world is an everchanging and dynamic place. Nothing stays the same for very long. More often than not, the business environment finds itself at the centre of these changes and Human Resources can be at the pivot point of much of these shifts. As a result, it’s paramount that businesses adapt and change to remain competitive and survive.
What Is Causing The Change?
There are a whole range of factors that contribute to the changing world and business environment, but in the current day there are 2 key factors;
Ø Advances in Technology
Ø Demographic Changes
Technology is advancing at tremendous rates and is one of the key factors driving change in the business and HR environments. For example, the introduction of Skype has changed how businesses hold meetings with employees around the world. Businesses can now hold meetings across international boundaries with zero cost involved, improving efficiency, cost reduction thus profitability. Advances in technology has opened new opportunities and developed new and improved business processes around the globe. However, 78% of businesses feel threatened by digital start-ups as it’s driving the need to be more innovative and more agile.
Additionally, the worlds demographics are changing. People are living longer, more career focused and having fewer children. As a result, this has led to a change in population demographics and one of the key drivers in this field is the millennial generation. To clarify, millennials are any person born between 1980 and 2000 and they have grown up in a time of rapid change, giving them a set of priorities and expectations sharply different from previous generations. As a result, there is a demand on businesses to change and adapt their HR strategy, policies and practices to better suit the different mindset of millennials.
It’s clear that change is inevitable, with advances in technology and demographic changes only accelerating the process. Therefore, as technology and people change it’s imperative that businesses and HR Departments adapt directly alongside to remain competitive.
How Can Businesses Adapt Their Business & HR For Future Business Value?
Millennials have grown up in a time of rapid change, giving them a set of priorities and expectations sharply different from other generations. Growing up with rapid advances in technology, they have been able to break down barriers meaning they don’t see hierarchy the same way. This has prompted a resurgence of interest in organisational structure. Top-down, command and control organisational structures will be put into question by as millennials enter the labour market as they have less tolerance for chain of command style work environments.
According to the Global Survey Report 2016, 80% of respondents are currently restructuring their organisation or have recently completed the process. Therefore, businesses should revisit, analyse and change their organisational structure accordingly. Decentralizing authority, moving toward product and customer-centric focus and forming dynamic networks of empowered teams are unique and powerful ways in which this can be achieved.
Every company wants to employ the top talent and retain the top performers. However, the retention of top performers can prove an issue for HR. Various studies indicate that 45-50% of all high performers are actively looking for new jobs and the mass exit of high performers will put a strain on resources and capital.
While there are numerous mechanisms available to reduce high performer flight, HR leaders believe that providing career development opportunities to employees is the most impactful way, since research reveals it’s a top driver of employee engagement. It stands to reason that employees are more engaged and motivated when they are empowered with some level of control over their careers and future paths. While HR should not be building development plans for every employee (as there are always several employees who will not embrace the activity) it can be argued that it’s HR’s job is to provide the appropriate tools to empower employees to take control over their own careers.
From Multiple Systems To A Single Platform
The HR function in a typical large global enterprise can be fragmented. Key functions such as recruiting, learning, training and development and performance management operate in independent silos. Indeed, only 12% of organizations report that their various HR and talent functions are fully integrated and a further 50% of organisations use multiple systems with varying levels of integration among them to manage their HR, talent processes and data.
In place of the multiple systems that exist today, organisations are planning to standardize on a single “best-of-breed” HR platform which natively integrates various HR applications, processes and data that virtually eliminates the need for manual and costly integration systems. In fact, the use of a single HR platform is expected to grow by 182% over the next two years.
Companies who have already adopted a single HR platform have seen significant improvements including;
Ø Better internal talent mobility
Ø Improved flexibility and ability to respond to changing business needs
Ø Better employee alignment to overall strategy
Ø Reduced administration
Ø Reduced costs and overheads
How Can Mindmill Help?
Mindmill can optimise your talent, no matter what stage your business is at.
Our cloud based technology platform allows us to deliver HR solutions to our clients on a global scale. As well as possessing our own in-house psychometric assessments and HR Technology Solutions, Mindmill have the capability to create new and innovative HR solutions for clients.
Proven scientific techniques underpin all our solutions to deliver accurate results. Psychometrics and predictive ability will allow you to accurately filter candidates best suited for job positions. As a result, this helps align the correct candidate for the correct position, thus improving your business efficiency.
Furthermore, the Mindmill Talent Optimisation Portal will optimise your talent every step of the way. It includes;
· Talent Attraction
· Psychometric Assessments
· Training & Development
· Performance Management
· Employee Engagement
For more info on Mindmill and our solutions visit;
Want to learn more? Get in contact with us;
Jonathan Crawford- Head of Business Development | email@example.com | 07912877062