Now that 2020 is in full swing, we’ve put together a short list of talent management trends to watch out for in the New Year. Below are the talent management trends Educe will be watching at the turn of the decade.
- Multi-generational Workforce: For the first time ever, there are five generations in the workforce. Generation Z, those born between 1997-2015, will have a greater presence in 2020, comprising up to 36% of the workforce. Succession planning will be particularly important over the next several years as Traditionalists and Baby Boomers prepare for retirement.
- Employee Experience: Many companies will focus on enhancing their brand through their employee experience in 2020. Traditional benefits like 401k and healthcare matter, but employees are also looking for perks like flexible work schedules, collaborative office spaces, and onsite wellness facilities.
- Continuous Performance Management: The concept of continuous performance management is nothing new, but it was more widely implemented in 2019 and will continue to gain traction in 2020. Moving the needle on traditional performance processes is tough, but talent management platforms have evolved to facilitate these processes more smoothly than they could just a few years ago.
- Interactive Recruiting: In addition to improving the experience for existing employees, more employers are focusing on creating an outstanding candidate experience. HR chatbots and other Artificial Intelligence (AI) platforms are increasingly being used to answer common candidate questions and engage candidates immediately. These tools can help candidates navigate to an interview and manage meeting schedules, which helps alleviate some of the burden on the candidate and allows them to be more prepared for the recruiting process.
- Workforce Insights: 2020 is going to be the year that companies prioritize workforce insights and use the data to show how employees impact their business. Before investing in new Talent Management software, organizations will leverage workforce insights to make key strategic decisions.
Tell us what talent management trends you’ll be watching this year!