3 HCM Trends to Watch for In 2020

Say goodbye to 2019 and HELLO to 2020! As we look towards the future we are just about ready to turn the page on a new year. Most of us take this time to pause and reflect on how much — or how little — has changed over the past year both in our personal and professional lives.

The role of HR professionals has continued to evolve over the last few years. In previous years, HR’s role was solely focused on planning, organizing, staffing, and coordinating - then began shifting to time and attendance, payroll, recruitment, and many other various responsibilities. 

As the role continues to evolve, HR professionals everywhere have quite a bit to keep up with as they look ahead. Our 3 top trends to watch for 2020 can help keep you ahead of the curve in the new year.

2020 Top Human Capital Management Trends

1. Growing a Remote Workforce has its Benefits

We have entered a new era and employers looking to expand should considering growing their remote workforce. There have never been so many opportunities for remote workers as with today’s workforce, and remote employment offers benefits to both the employee & greater company. With remote employment, millions of employees are able to travel more, work where they like and, in many cases, choose their working hours. And, employees reap the benefits of working with well-suited talent without location as a barrier. Since 2005, the world population of remote workers has grown over 140% and with technology at our disposal, remote work has become increasingly effective and available.

2. Artificial Intelligence (AI) is at the Forefront of Innovation in HR

AI could change the world of HR as we know it. From talent recruitment, employee experience, and talent management AI will be a game-changer. AI won’t solve all the problems but it will free HR professionals from repetitive and administrative tasks to a more strategic approach.

It will also allow for: 

• A greater employee experience – AI can provide learning opportunities that employees  seek desperately.  
• Data-driven decision making – AI will help HR teams pull insights from data and deliver recommendations in real-time.
• Automation – Intelligent automation will not only be able to perform manual tasks but also make decisions as a human would.

According to the United Nations, by 2050, one in four persons living in Europe and Northern America could be aged 65 or over and the number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.

So, what does this mean for our workforce?

Employers will need to begin to look at expanding their talent pools, which might just mean hiring retirees. Older adults bring great value to organizations and will continue to bring value in the workplace over the next few decades. As the world’s population grows and ages, the landscape of human resource management is changing with it. Mature workers are at the center of these changes, and strategies to harness their talents are essential for all organizations moving forward.