There have been huge shifts, both social and economic in the 21st Century which have in turn influenced all the other aspects of life. These shifts have been primarily driven by the technological revolution.
The big question is: how are organizations adapting to this new reality in the workplace? According to a survey done by Deloitte across 140 countries, 88% of the respondents rated building a futuristic organization is crucial for organizational survival.
Most of the companies surveyed were striving for flexibility and dynamism. Organizations are now organizing small teams that are quickly set up, work together for short periods, like one or two years and then move on to work on other projects within the company. “As organizations make this transition, they find that smaller teams are a natural way for humans to work”, reads the report.
Speaking at the Annual HR Summit held at the Strathmore Business School on 19th and 20th September 2019, Martin Mbogo, CEO Tullow Oil said flexibility is one of the things that Millenials look for in a workplace. Organizations must then try to restructure their working if they are to thrive in the futuristic marketplace, seeing that 75% of the decision-makers in organizations by 2025 will be Millenials.
Reskilling and retooling employees are changing with the futuristic marketplace demanding that is should be a continuous process. To fit into the futuristic market place, training and development managers must develop more curated and flexible learning models that are effective in real-time.
Talent acquisition is the third biggest challenge organizations face, according to a Deloitte report, surveying executives and business people across 140 countries. “The way talent acquisition is being done today has changed; about 15 years ago, hiring managers hired talent based purely on IQ whereas today hiring is being done based on EQ.” Natalia Polishchouk, Managing Director, JstWORK.com. The rise of social networks and job boards such as LinkedIn, Indeed and Glassdoor among others has also changed the rules when it comes to talent recruitment.
Big data is another emerging trend that cannot be ignored; in today’s marketplace, data is key; numbers are power. More and more companies are using data from their employees to increase their productivity, detect logistics errors and improve staff recruitment processes.
Organizations are promoting diversity and inclusion among their employees which is a major booster of efficiency, innovation, and productivity in their companies. Diversity and cultural inclusion also improve the organization’s reputation and brand image.
In conclusion, it is important to note is that all the emerging trends are employee-centric. Have the tables shifted? Is the customer still king? Is the employee king in the 21st-century workplace?