Changing workforce demographics, increasing compliance regulations, the need for specialized skills, and competitive labor markets have emphasized the need for organizations to focus on their human capital management strategy. With the right HCM strategy, businesses can make better decisions through predictive analysis and forecasting, demonstrate flexibility during times of disruption, and increase profitability. Here are trends in human capital management:

Data-Driven Recruiting

Data-driven recruiting helps hiring teams increase productivity and efficiency, allocate their budget, and reveal hiring issues. Recruitment teams are leveraging automation tools, applicant tracking systems, and analytics to conduct deep data analysis to find high-quality candidates. Artificial intelligence is supporting the recruitment process by not only automating the recruitment process but helping screen candidates. Data is helping recruiters reach more objective hiring decisions, allowing them to select the best candidate based on assessment scores rather than their gut feelings, which may be influenced by unconscious biases.

Hybrid Work Models

A recent study revealed that 74% of US companies are using or planning to implement a permanent hybrid work model. Google, Ford, Microsoft, Amazon, Siemens, and Hubspot are just a few of the major companies embracing the hybrid work environment for their employees. Because hybrid work models can come with challenges such as collaboration, establishing trust, and maintaining employee visibility, human capital works to perfect the company’s hybrid work structure, ensuring that they have the necessary systems, equipment, processes, and protocols in place. This also involves increasing training so both remote workers and in-office employees are practicing best practices in cybersecurity.

Continuous Learning, Upskilling, and Relearning

The job market is tightening and the need for specialized skills is on the rise. And many organizations are recruiting talent by seeking passive candidates currently working for other companies. And if the offer is attractive enough, those employees may leave. Companies recognize this risk of losing talented employees because they’re looking for new growth opportunities. To retain talent, human capital is emphasizing the importance of implementing programs for continuous learning, upskilling, and relearning. Employees can learn new skills and reinforce current skills by attending seminars, conferences, and virtual courses sponsored by the company.

The Employee Experience

Human capital management and human resources are evolving to focus on creating positive employee experiences. The employee experience matters because it impacts retention, engagement, and performance. Today’s employees expect much more from their work environments, encompassing everything from the technology they use to their physical and virtual workspaces and company policies. Some ways human capital improves the employee experience is by providing intuitive technology, gathering timely feedback and acting on it, and collecting data continuously. Data helps human capital evaluate employee satisfaction, allowing them to develop and implement better strategies, practices, and technology.

Conducting surveys is one of the best practices for collecting data on the employee experience. Data provides meaningful and actionable insights. To encourage employees to participate in employee experience surveys, ensure you’re reaching them.

CLEAN_Employee ensures your employee contact data is continuously up-to-date. Knowing you have the correct address, phone number, email address, and even social media contact data allows you to focus on your employees instead of manually updating incorrect contact data.