During 2020 the effects of COVID gave rise to many new business trends. Several of these trends are here to stay, while others will adapt as 2021 progresses. To support your HR strategies this year, let’s consider some of the new trends in HR.
1 . People Analytics
According to Forbes, ‘People analytics is one of the hottest in-demand skills for HR professionals. It is a type of analytics that helps managers to come to decisions about their workforce. The method uses tech and stats to assess data about existing and potential employees. The idea is to improve management decisions overall.
There are several benefits of people analytics including smarter hiring choices, and improved employee performance. Remote working models can be difficult for both employees and employers. To allow your company to thrive you need to attract and retain the best talent.
2 . Financial Wellness Programs
An increasing number of companies are honing in on workplace financial wellness to support the financial health of their staff. A workplace financial wellness program provides help with managing debt, establishing credit, and creating a budget. Using these programs you can help your employees to set financial goals, and reduce financial stress. Supporting your staff in this way creates a healthier and happier workforce.
3. A Focus On CSR
According to a survey from Impact Reporting, “67% of respondents prefer to work for socially-inclined companies.” Their research also showed that “engaging in socially valuable projects can reduce employee turnover by approx 50%.”
Employers expect companies to take a stance on political and social causes. To appeal to the top candidates, organizations need to focus on their CSR strategies. Employees prefer companies who share their values. In 2021, HR departments are considering CSR and culture throughout the job advertising processes.
4. Flexible Time Schedules
A few years ago, companies that offered remote work were considered ‘flexible employers’. In our current climate, working from home is now the standard. To be considered fully flexible, businesses will start to offer flexible time schedules. Companies will become more flexible about how much work is required, and when that work is performed. Modern businesses will judge staff by output and quality, instead of a strict amount of hours.
According to Small Biz Genius, “76% of workers would be more willing to stay with their current employer if they could work flexible hours.”
5. Increased Support For Mental Health
Research from Forbes reported that ‘More than one-third of Americans have displayed clinical signs of anxiety, depression, or both since the coronavirus pandemic began.’
During such a stressful time the pressure was on employers to offer help and guidance. Throughout 2021, we’ll continue to see an improved focus on workplace mental health. Companies will offer wellness schemes, to support their staff.
6. Hybrid Office
The hybrid work model combines in-house and remote working processes. In a post-covid landscape, many organizations will adopt this kind of working structure. There are several benefits including a better work-life balance and enhanced collaboration. While there are plenty of advantages to working from home, many found it a lonely experience. Hybrid work models allow staff the opportunity to socialize at work, while still working from home a few days a week.
With so many changes to navigate, HR departments need to keep on top of the new expectations and practices.