This article is brought to you by Workday.
As organisations look to move from recovery to reinvention, HR will face what Workday calls ‘Ideas’ (inclusion, digital, enabling, agile, skills) for the changing world of HR.
‘I’nclusion and belonging
Organisations that are investing in diversity, inclusion, belonging, and equity, are outperforming companies that don’t invest by 36%, and delivering higher rates of innovation, with employees who feel a deep sense of belonging and commitment, according to McKinsey’s research.
Companies need to be empowered to measure everything from hiring and promotions to their people’s sense of belonging – so they can see where they stand and then take action. With the ability to view the metrics at a glance, companies will also be able to answer those tough questions, and accelerate progress internally.
“Digital transformation has now become the top priority for more than 90% of corporate leaders and organisations,” said Daniel Cham, General Manager for Workday Greater China.
As more employees continue to work remotely, employee support and services will need to be delivered virtually and digitally. For companies this means the pace towards digitalisation needs to increase, moving away from long-term strategic digital transformation efforts towards digital acceleration.
Intelligent automation across the entire attract-to-pay process helps eliminate manual tasks and empowers people to be their most productive selves. To thrive in the next normal, organisations will use touchless automation, lean on machine learning-assisted decisions, and create engaging experiences to get the most out of their people.
CHROs should act as both strategists and catalysts around talent experience, acquisition and development – with HR driving the right commitment, as well as having the insights around people and around their skills to enable the business strategy.
Give people the tools and data they need to take decisive action and let them adapt to the changing world. HR can leverage predictive data to gain a comprehensive view of the workforce to identify risks, reveal opportunities, discover trends, and drill into contributing factors.
“Workday provides workforce analytics and transactions in a single system, helping HR uncover what to prioritise and where to invest their valuable resources and enable agility,” Cham said.
Augmented analytics or people analytics will be a guide for HR leaders in the future. This helps leaders know where to focus and identify chances that they might have missed, so they can find out what it takes to actively plan.
Insights are prioritised, tailored to the role, and paired with narrative explanations so people can confidently make critical workforce decisions.
Building critical skills and competencies for their organisation was the top priority for 68% of HR leaders, according to research firm Gartner’s, The Top 5 priorities for HR in 2021 report.
Companies are increasingly focused on talent, and looking for the best ways to retain their workforces and encourage growth and development. Future-ready organisations are embracing a skills-based people strategy – where workers are valued and rewarded for their skills, and how they apply them, to create organisational value.
Learning and development will be driven by data and machine learning. “Workday’s talent philosophy is to create an environment where employees can continually build their careers, develop capabilities, deepen connections, make contributions, and feel recognised for their efforts,” Cham said.
Skills are the machine learning thread that connects ‘Workday HCM’, ‘Workday Recruiting and Workday Learning’, ‘Workday Talent Performance’, and ‘Workday Talent Marketplace’, to curate engaging employee experiences that will enable organisations to reskill and emerge stronger.
“In a fast-paced digital world, having access to real-time data and insights has proven to be a game changer in employee empowerment and engagement. With data analytics, companies can harness the full power of data to uncover deeper, actionable truths, enabling a truly agile and resilient organisational culture,” added Cham.
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