Manage HR Magazine | Tuesday, December 14, 2021
Last year, Covid-19 turned the world upside down, bringing the global economy to a standstill and shattering investor confidence.
Fremont, CA: Last year, Covid-19 turned the world upside down, bringing the global economy to a standstill and shattering investor confidence. The crisis has simplified HR services and sped the migration to digital, which is a bright lining. As a result, there is a greater pressure to refocus HR initiatives on workforce change.
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Companies are accelerating environmental, social, and corporate governance (ESG) and diversity, equity, and inclusion (DEI) developments by revisiting their purpose and embedding these values into their transformation plans; putting employee wellbeing and business resilience at the forefront by identifying the individual's unique health, wealth, and wellbeing needs; and imbuing flexibility into work models and arrangements to become future-ready companies.
In addition to developing strategies, the research emphasizes establishing a forward-thinking and growth-oriented corporate culture.
In today's world, more than four out of ten (41 percent) firms want to focus staff upskilling and reskilling on essential talent pools. In comparison, more than a quarter (27 percent) of firms aim to prioritize upskilling and reskilling this year; just one in five plans to reward skill adoption or change as a means of incentivizing transformation.
In addition, 31 percent of the businesses are focusing on developing remote working abilities, with a focus on virtual collaboration.
Employers focus on three areas to create a trusted and high-performing employee experience: flexibility, innovation and co-creation, and process optimization.
The majority of businesses were able to maintain their company culture while transitioning to a blended work model (76 percent), relinquishing micromanagement of employee behavior (69 percent), engaging in a process to find the most desired benefits for various groups of employees (71 percent), and deploying design thinking and engaging strategies to co-create new employee experiences (71 percent) (67 percent).
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