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GAME CHANGERS IN ENHANCING PEOPLE & BUSINESS VALUE

OUR NEW REALITY

 

 

Pilot Chatbots 

The latest prediction from Gideon Mann, head of data science at Bloomberg LP, is that "Over the next five years, automation will seep into more and more aspects of our work and personal lives. Increasingly, it will be hard to distinguish what is being done by a person and what is done by a machine. As a result, the fundamental nature of how humans work will be transformed and we'll have to work smarter." We are already seeing predictions that bots are poised to take over from apps in the workplace.

 

Plan For A Blended Workforce 

The workforce of the future won’t be all full time employees. Rather, it will be blended, or composed of full time employees as well as consultants, contractors, freelancers, part time employees, and other contingent workers, collectively known as Gig Economy Workers. Multiple studies, conducted by Intuit, The Freelancers Union, and, most recently, Katz Krueger, professors respectively from Harvard and Princeton, predict the percentage of the workforce who are Gig Economy Workers range from 15.8% to 34%.

 

Develop Career Mobility Options 

The Future Workplace Forecast has uncovered an innovative way for companies to provide digital career development: career mobility platforms allowing employees to test drive new roles and broaden their skills while they keep their current jobs at the company. The Future Workplace Forecast was conducted among 2,147 global heads of HR and Hiring Managers and shows how companies are creating new ways for employees to try out new roles.  HR leaders believe this can lead to increases employee engagement (49%), improved employee productivity (39%), and improved employee teamwork (39%).

 

Invest In Employee Wellness 

Companies are making deliberate attempts to create a holistic view of wellness from financial wellness to health and well-being. SunTrust Bank  offers a unique financial wellness benefit to help employees increase their financial confidence. Companies are also integrating the latest technologies into wellness programs. Chris Boyce, CEO of Virgin Pulse, says wellness programs are leveraging Internet of Things (IoT) and embedding artificial intelligence into well-being solutions. AI tools like Amazon’s Alexa, and beacons, which use Bluetooth, enable users to know how they are meeting their health and fitness goals without using a mobile phone or a web browser.

 

Focus On Team Development, Not Just Individual Development

While HR departments have traditionally focused on individual employees—recruiting them, developing them and assessing their performance—we are seeing the advent of a new capability, one of developing team intelligence, or the practice of understanding what makes great teams deliver exceptional results.  Mosley predicts more companies will provide only 98% of an employee’s total compensation. The rest will be crowd-sourced by the team in the form of a series of micro-bonuses. Look for more crowd-based pay as a vehicle to reward top performers.

 

Source: Forbes Magazine

 

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