The future of work is a topic gaining a significant amount of interest as we approach the workforce of 2020, promised to bring cultural, generational and technological advancements for organizations across the world.
According to Google Trends, the term “future of work” reached maximum popularity (a score of 100) over the past five years, with the following chart showing its popularity over the past year:
With an overload of conversation around the changing nature of work, it can be helpful to distill and understand how these changes will impact the work of HR in their work of attracting, engaging and retaining employees. Here are five ways your company culture is changing as a result of the transformation facing the world of work:
5 Ways Your Company Culture Is Changing
1. Going Global
The rise of multinational corporations through globalization is rapidly changing the world of work. As organizations seek to attract and engage employees across the world, leaders must understand a growing number of cultural perspectives, employment regulations, and best practices. As the workforce scales to reach the furthest corners of the world, HR professionals have new challenges on the horizon to meet the varying expectations of work from employees.
2. Multigenerational Workforce
For the first time in the history of the modern workforce, five generations are working side-by-side toward shared goals. As Traditionalists and Baby Boomers retire out of the workforce, Generation X is stepping into senior management roles, Generation Y (Millennials) into management, and Generation Z (Gamers) into the workforce for the first time. This shift in generational makeup of the workforce is changing expectations on HR as Generation X and Millennial employees are demanding more flexibility and meaningful work.
Along with increased demand for flexible schedules, employee expectations are also fluctuating to require flexibility from their organizations to address. While some employees may benefit most from paid family leave to start growing their families, others may benefit most from paid elder care leave to spend time with aging family members. Some employees prefer flex scheduling while others prefer a condensed work-week of four 10-hour days across the organization. Work to understand the needs of your employees to continue to attract and engage top talent and to meet the needs of a changing workforce as we step boldly into the future.
4. Virtual Employees
Forrester Research estimates 43 percent of the workforce works remotely at least some of the time. There is some evidence to show that remote workers are happier, feel more valued, and feel more productive. In addition to full-time remote employees, freelancers now make up 35 percent of the American workforce. Organizations working with freelancers and remote employees will need to focus on long-distance collaboration and utilize tools for facilitating culture for all employees, regardless of location. Video conferencing, online collaboration tools like Google Docs, Evernote, and others, as well as HR platforms that engage and include all employees can help keep people connected to their teams.
5. Explosion of Technology
There’s no question technology is changing the world of work. As technology impacts every part of the way we work, automating some functions of work and supporting employee productivity, the importance of face-to-face and meaningful written communication remains a critical part of team building. As we approach the future of work, remember it’s not just bells and whistles that matter when shopping for technology. API integration has also become critical to facilitate communication between critical employee technology platforms. Each system HR relies on to manage employee relationships with the organization should communicate seamlessly to one another, allowing your organization to make the most of the data provided by each tool.
To learn more about the future of work and how it’s impacting your organization, please download our latest ebook, “HR Leader’s Guide to the Future of Work.” In the ebook, you’ll find more information on these five trends as well as a program checklist to assess your preparedness for facing the changing world of work.