The last few years have brought about massive changes in how human resource management functions in India. Research says that over 32% of companies are replacing on-roll employees with freelancers to thrive in the changing dynamics across all industries.
The spread of the COVID-19 pandemic during the past two years reinvented the human resources (HR) department and introduced many new responsibilities under it. The HR trends emerging in this new landscape are becoming essential to upscaling a business in 2022. As a result, the opportunities for skilled strategy and human resource management professionals are endless in the post-pandemic era.
Changing nature of work after COVID-19:
The global COVID-19 pandemic has transformed the way companies operate inside out. In the last two years, the new norms have greatly accelerated already brewing disruptions like remote work, e-commerce, and automation. Even as the pandemic seems to be ebbing now, experts predict that virtual meetings and remote work are likely to stick around at the workplace.
Many corporations have already started planning to shift to flexible workspaces and are reducing the office space by up to 30 percent. The pandemic has also given rise to entirely new business sectors like telehealth and virtual event planning which demand adaptive human resources and management systems.
It’s high time that the HR departments at companies adapt to this new reality and take a holistic approach to integrate the emerging HR trends into their business.
9 key HR trends that will add value to businesses in the future
Hybrid workforce:
A hybrid workforce means employees that can work from both their company's workplace and their home, as required. A recent Gartner survey states that nearly 48% of employees prefer working remotely. While office employees remain essential for organizations, remote workers can also bring valuable skills to propel businesses towards their goals in a more cost-efficient manner.
Growing importance of employee well-being:
The events of the pandemic and the global resignation of 2021 have highlighted the growing importance of employee wellbeing. Initiatives and policies directed toward the employees’ mental and physical well-being need to become a top priority for organizations to succeed. Therefore, human resources and management professionals will need to be prepared for planning, implementing, and analysing these initiatives.
Focus on increasing diversity and inclusion:
As per a Glassdoor survey, 3 out of every 4 job seekers look for an inclusive workplace while evaluating job offers. HR departments can capitalise on this golden opportunity by acquiring and retaining talented individuals from a diverse demographic. The strategy and human resource management professionals in many organizations already realise this advantage and are preparing to create a more inclusive work culture.
Managing gig workers:
Due to the economic unpredictability caused by COVID-19, a vast population of employees lost their jobs and were forced to try unconventional employment models like gig work. In the midst of this, the freelance economy in India rose to power and is now expected to grow up to $30 billion by 2025. It’s part of HR department’s new responsibilities to implement the performance management and incentive systems suited for a gig-based workforce.
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