This will be a transformational year in many areas of corporate talent management. The global economic recovery, changing demographics and rapid changes in technology have come together to redefine the entire nature of work. While many talk about the “new world of work,” in reality we also have a “new world of life”—one where work, home, family and personal lives are interconnected in a real-time way.
This interrelatedness, coupled with the shift in demographics—today’s Millennials are expected to make up 75 percent of the global workforce by 2020, according to
Deloitte’s Global Human Capital Trends 2014report—means that businesses must think about talent very differently than they have in the past. Workers now join companies like athletes join professional teams: As long as both parties benefit from the relationship, it continues. If people see opportunities elsewhere, they move on—although they often don’t “leave” in the same sense anymore: They stay in touch and remain close, frequently even returning to the same company when the time is right.
Employers, once in a position of power, are no longer in control, thanks to tremendous transparency in the job market that is driven by dozens of online job networks. And if your company is not a great place to work, people find out fast: Candidates can quickly size up a potential employer on professional networks, assessing your work conditions, managers and even interviewing style. Today, the concepts of “employment brand” and “employee engagement” have merged: Employees communicate your brand externally every day, whether you like it or not.
There are now many software tools that integrate programs and processes, such that every part of HR has become integrated. Diversity and inclusion, brand and reputation, corporate purpose and mission, and even how you manage the hourly workforce are all related. So we need to expand our vision and think holistically about everything we do in HR as part of a “talent ecosystem.”
In 2015, rather than focusing on simply innovating in each part of HR, companies should focus on prioritizing, and remember that each area is complex and touches all the rest. I hope this short summary of predictions for 2015, which is a condensed version of the report Predictions for 2015: Redesigning the Organization for a New World of Work, helps prepare you for the brave new world in which we live and work. To learn more, visit www.bersin.com.
Editor’s Note: The people profiled for this special section were chosen by HR Magazine and not Josh Bersin or anyone from Deloitte Consulting LLP.
As used in this article, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.