Future of Work Trends in a Complete Series by InteriMarket: Part 1 — Freelancing Growth | The HR Tech Weekly®

Future of Work Trends in a Complete Series by InteriMarket: Part 1 — Freelancing Growth

For years we have seen a variety of different work trends which have created various opportunities for both employer and employees. Last few years have seen various changing trends in the employment sector. From full-time 9-6 job to part-time and now freelancing, the changing trends in the workplace have continued to improve the job market. These trends have benefited both job seekers & employees in many ways like increased wages & incentives for employees, work from home options, contract employment, etc.

Freelance

The demand for more flexible work environment has increased in the recent times giving a boost to the freelancing sector. Freelancing now makes up around 35% of U.S. workers and have collectively earned around $1 trillion in the past year. Just like freelancing is on the boom, there are various other work trends on the boom.

Following work trends will have a major impact on the coming years, some of the trends are already very visible:

1) The Freelancing (Supertemp/Contingent) sector

2) Skilled Professionals, especially as self-employed as much as their need for permanent commitment, also increases (information technology, skilled trades and data science)

3) Social Media Networking will create a lot more job opportunities

4) Considerable growth in more online employee training & workshops related careers

5) And significant growth in more online human resources functions including data management or data analytics which is increasingly becoming a huge part of HR

The above trends are changing the employment sector for good; we will try to analyse each of these trends in a complete series of InteriMarket work trends over the coming weeks where we will try to focus on each of these growing trends. As we explore the first trend here are some stats: Freelancing is at an all-time high. In U.S. alone, among the young workers in the age group of 18-24, 47% are working as freelancers on a part-time or full-time basis. The freelance workforce has grown from 53 million in 2014 to 55 million in 2016 which represent around 35% of the entire U.S. workforce. And by 2020, it is expected to increase by 5% reaching around 60 million. The total freelance workforce earned a whopping $1 trillion in the past year, representing a significant share of the U.S. economy.

Freelancer

Freelancing is increasingly becoming popular with the majority of people choosing to freelance by choice over necessity. Freelancers think having a diverse portfolio of clients is more valuable than having one employer.

With rapid advancement in technology, freelancing is becoming easier and freelancers can now easily find new freelancing work. The amount of work is also increased in this category with different types of segments of flexible workers within the fast growing “Gig Economy”.

There are freelancers who prefer to work offshore, or provide services globally sitting from the comfort of their own homes/offices, then there are temps who are almost loaned from company to company by managed service providers, and increasingly there is a growth in the “super temps” categorically mid-senior level of interim/contract/consulting talent who work on more stable longer-term projects which is ever more increasing with the likes of highly skilled millennials joining the group of talent.

All these different categories of contingent workers now prefer it more and wouldn’t want to go back to the traditional job as it provides a better work-life balance. With such amount of progress in the freelancing sector, freelancers still feel the best is yet to come. We are very hopeful to see a growing trend of freelancing in the future too and estimate it will open up new horizons and opportunities. With the ease of setting up on your own, it’s no surprise millennials are starting to make the most of this trend.

We shall continue with the next trend in the second part of the series where we will focus on the booming skilled professional sector. To read more or follow our series explore our blogs; to speak with us about employer’s hubs and how we can help transform your contractor talent management by bringing efficiencies through our simple cloud platform, get in touch.


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How will Brexit affect Businesses, HR Teams and Contract Job Seekers?

How will Brexit affect Businesses, HR Teams and Contract Job Seekers?

Brexit, whісh іѕ а portmanteau оf “British Exit” refers tо thе United Kingdom’s decision tо leave thе European Union. Thе European Union іѕ аn economic partnership bеtwееn 28 countries thаt formed аftеr World War II tо hеlр cultivate economic prosperity аnd cooperation. Fоllоwіng аn advisory referendum held іn June 2016, U.K. citizens voted 52% tо 48% іn favour оf splitting frоm thе European Union. Thіѕ result, а surprise tо pundits, hаѕ hаd а substantial impact оn thе economy оf thе United Kingdom, global markets, аnd increased volatility іn thе United States economy.

Thе Brexit process hаѕ caused а sense оf uncertainty аbоut economic growth іn thе United Kingdom аnd саn affect interim job seekers іn thе UK frоm gеttіng job wіth thеіr desired company. I was interviewed on this topic last year in September, you can check out my advice on the post-Brexit effect on recruitment here. I also remarked many times last year on how the “real impact” will be seen not immediately as was asked on many occasions but longer term, starting now, including the sudden election which with all due respect only hinders and hurts taxpayers.

Brexit. What's Next?

Some of the effects highlighted here are: thе decision tо leave thе European Union hаѕ increased thе tension bеtwееn thе United Kingdom аnd іtѕ international trading partners, аnd іt соuld саuѕе mаnу Multinational Corporations tо move operations tо оthеr countries. HSBC, а global bank wіth а major presence іn London, ѕауѕ іt mау move 1,000 trading jobs tо Paris due tо thе Leave Vote. Thіѕ іѕ bесаuѕе thе U.K. wіll nо longer bе аblе tо tаkе advantage оf “passporting”, аn arrangement whеrе а financial institution headquartered іn thе European Union саn perform permitted activities іn аnу оthеr EU member state whеrе іt maintains а branch. Anоthеr major effect thаt Brexit hаѕ hаd іѕ thе depreciation оf thе British Pound аgаіnѕt оthеr major currencies. Thе impact thіѕ hаѕ оn thе British market іѕ а bit discrepant, mоrе specifically thе impact оn businesses thаt operate іnѕіdе thе country whісh саn аlѕо tеll оn what’s in-stock fоr interim job seekers whеnеvеr thеу gеt hired.

Although, mоѕt business owners thаt аrе іntо exporting wіll benefit frоm thе declining pound bесаuѕе thеіr domestic costs wіll decrease whіlе thеіr exports wіll proportionately increase іn value. At thе ѕаmе time, domestic producer’s thаt import component parts wіll experience аn increase іn costs аnd а significant decrease іn profits. In addition tо thе significant drop оf thе Pound, thе exchange rates bеtwееn thе pound аnd оthеr major currencies hаvе reached unprecedented levels оf volatility, whісh соuld result іn mоrе selloffs іn thе medium tо long term.

Whеn іt соmеѕ tо interim/contract jobs and self-employment, thе intakes welfare matters а lot. However, thе Brexit ѕееmѕ tо bе а treat іn thіѕ rеgаrdѕ due tо thе high level оf uncertainty оf whаt thе economy stand tо offer thе interim and contracting job seekers іn thе future. Who knows which directions the gig economy shifts with Brexit, but for now every business that is considering flexibility and risk aversion may want to look into more direct ways to engaging with top interim/contract talent through solutions like InteriMarket without competing agencies as we can help empower businesses and save them the eyewatering agency and managed providers fees. Business leaders, HR & Recruitment leaders can contact me directly for a confidential conversation around our solution.

About the Author:

Bhumika Zhaveri, CEO of InteriMarket

Bhumika Zhaveri’s expertise lies in business strategy, change, human resources and talent management. Her experience is built over years in varied sectors where she has worked within Recruitment, Resourcing and HR. Now as Founder & CEO of InteriMarket a hybrid SaaS platform and an online marketplace for Interim Talent and In-House Recruitment & HR Teams. She is a firm believer of success through people, change and culture!


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Benefits Of Working From Home | The HR Tech Weekly®

Benefits Of Working From Home

night-owl-man-working-on-computer-at-night-picjumbo-com

Working from home is not an easy walk. It’s different from what other people think about a remote worker. It requires more discipline and responsibility, more self-motivation, self-engagement, and self-control. It gives you less freedom while many think opposite. And finally it may give you more working hours in fact with an early start, later end and less breaks.

So, why a lot, lot of people make their choices for working from home? Why companies tend to hire remote workers? What benefits it gives to both sides? How it is influenced by the economy and technology? What is the best way to organize the remote work both for employers and for employees? A lot of questions…

Gig-economy or on-demand economy and digital technologies give people new exciting opportunities, from one hand, and determine their choices from the other one. Relations with remote and contingent workers and organizations became more contractual, more entrepreneurial, and more like with the third parties before the world of work has changed.

Modern HR technologies allow organizations to keep people engaged, stay connected, let them feel on board and be a part of the team while staying miles away. But it’s harder than just control over the process and results. It requires new hard and soft skills from HR and line managers.

The new infographic from Nucleus gives us an overview on a phenomenon of the remote work as well as some insights about new challenges for managers and workers, and technologies that could help to organize it better.

Nucleus Smart Office Solutions


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Mum’s with careers, is that a joke? Bet you would agree

Mum’s with careers, is that a joke? Bet you would agree

maternity_and_mums_blog

So, you have had a good career before leaving for maternity, in many cases great career with lots of options on going back to work, or you are self-employed, an entrepreneur or an established business woman. Especially with the number of initiatives for flexible working, part-time hours, job share, freelancing etc. similar opportunities – how hard could it really be as a returning mum after a substantial break? The answer, unfortunately, is VERY!

From what I have read and heard, including opinions of women I have consulted with these circumstances are extremely personal, full of emotions and overwhelming with the feeling of doing the right thing. Like many have expressed, they would like to have it all – a family, a child and a career but the reality is still on the contrary. Here is what some women had to tell us:

Gemma Guise, Managing Director, online media and publishing platform JurnoLink:

I am a new mum! My little boy is one and I have seen how difficult it is to run a business and have a child. I think returning to work as a new mum is really hard because child care is so expensive. As a small business owner, I can’t afford to put my child in full-time child care but at the same time, I need to be working full time to ensure the business succeeds…

Working from home is not feasible with a little one as you feel guilty splitting your time 50% with your child 50% of the business. You either need to be at work or at home with a child. I am very lucky that I have a great team that supports the fact that I cannot be available 24-7 and puts up with a baby in the office the odd day. I honestly don’t know what the answer is for small businesses owners that want a family. 

I have been told “you can’t have everything” but I cannot accept this. It would be an easy option to forget about working but there is still the financial aspect of living to consider! Currently, I have been in a fortunate position where I could sacrifice my salary, this meant that I could put the money towards someone who could fill my shoes full time. I still work on the company but only one day a week as that’s all I can justify for child care!

Alison Bullman, Principal (and business owner) at Stagecoach Fulham, a performing arts school for children:

working_mum_blog

I’m not sure I’m fully “qualified” to answer those questions as I didn’t return to a “normal” job following the birth of Phoebe, my first child. I chose to start my own business to give myself the flexibility I needed to support my family. What I would say, however, is the reason I didn’t want a 9-5 office job was because of the pressure that is put on you to work hours that simply don’t fit with children – such as early or late meetings, last-minute demands such as business trips, the need to work late when projects aren’t finished or overrun and sometimes multiple social/networking events.

The pressure this puts on mums and working parents is a significant strain on family life, which can ultimately damage the emotional wellbeing and mental health of children and parents. Having said all that, owning your own business does mean no maternity leave or the associated employment benefits, so business had to continue as normal regardless of sleepless nights and tiny babies when I had my second child, Teddy. You also don’t get access to certain benefits such as Child Care Voucher schemes, so childcare costs and taking time off when self-employed is hard to manage. 

I think women are much better placed now than ever before in terms of most companies acknowledging the demands of juggling work and motherhood, and there is support and advice within big companies. I believe what would make caring for children whilst working better would be following the footsteps of those countries where men and women share working hours and caring for their children. There needs to be a better balance and options between both parents.

Anonymous:

I am a qualified accountant by profession however when I was looking to return to work in London following the birth of my second child the flexibility I was afforded in my in between period (I returned to work after my first 3 months pregnant with my second and they needed me for an office move, team recruitment and training so allowed me to work 7.30-4pm) was removed, citing business needs (even though I also worked 7-11pm at night for them). 

With no family nearby for the support, I couldn’t see how we could manage to have two children and both working in London. I began my own keepsake business, however, it became very popular and I couldn’t balance customer demand with the needs of my children. I decided to specialise but again the products I was making were so labour intensive that even specialising didn’t really help. 

I was struck by an idea at Christmas for a fully automated product that would need only website development, promotion and marketing and so the personalised handwriting practice workbook for 3-7-year-olds was created. I got the copyright and the domain name secured. I am launching Write My Name at the start of April and hoping that this will be the answer to my working needs while forever striving to achieve that work/kids balance. I hope it works otherwise I’ll have to go back to my profession and pay for another woman to take care of my children. Something I’ve been very against from the start.

Gerry So, the Co-Founder of Okappy Ltd.:

I gave birth to my first son last year in July. Being a first-time mum, running a start-up (incorporated July 2015) and working in a male-dominated industry is one by far the toughest thing I have ever done. It’s like doing the impossible especially I previously worked in a Tier 1 Investment banking for 10 years where I used to see people going on maternity leave, working part time etc. where the workplace would provide excellent support for mum’s returning from maternity.

Working for yourself is completely different. On one hand, you’d be so exhausted from looking after your baby yet you’d have to keep the business going as it’s your own business, let alone it’s a startup with limited resource and funds. My comment to all the mums and entrepreneurs out there is never giving up and everything is just a phase, it will get better. Communication is the key, be open about what you can do and can’t do so that you can manage your team’s expectations. Even to your clients as well, be bold to suggest your deliverables. You’d rather be honest about what’s doable within the timeframe rather than under deliver. 

What I found the hardest is our office is based in Bethnal Green, one of the buildings owned by Work Space. They don’t have any rooms or facilities available for mums if you want to express while at work or to sterilise your breast pumps etc. I had to buy a microwave for our office. Unfortunately, I have to sit on the toilet to express every 4 hours. It’s not the place you’d want to be, as one of the friends said, ‘it’s like you’re cooking in the toilet’. That’s probably the most off-putting thing. Hence, I spend a few days in the office and a few days at home. I think definitely all offices should have facilities for mums, similar to having disabled access. 

Anonymous, Marketing Manager, a premium virtual assistant company:
startups_hiring_blogs

As the ability for companies to offer flexible working conditions increases, the demand will also continue to increase. There’s a shift that has come with advances in technology that is making it easier and easier for employees to work more flexible schedules, whether that means working from home or flexing hours. For new mothers returning from maternity leave, this shift is especially important as they begin to sort out the best way to handle conflicting priorities and a new way of life. If companies want to retain new mothers, they need to fully understand and embrace the need for flexibility during the transition from worker to working mum.

While I planned to return to work after having my first child, it was difficult to completely define what that return would look like 6 or 9 months out. I think if companies want to improve the working culture for new mothers, there has to be complete acceptance around that. Plans can change and flexibility desperately needs to be at the forefront. Luckily, I work for a company that really values working mothers and work/life balance, and they worked with me to figure out a plan that worked for everyone involved. I was able to start part-time and work back into full-time as I felt ready. I wish every working mother could have the same type of experience, and I hope to see it more the focus on work flexibility increases globally. 

Steph, Managing Director, Don’t Buy Her Flowers:

The biggest issue I faced after returning from maternity leave is the juggle of childcare and work. I found the job itself wasn’t a problem – if anything I was far more efficient with my time and focused when at work. Though my kids were at nursery age when I started the business, I was looking ahead and couldn’t see how we were going to manage any of the school runs along with my commute. Most offices work with 9-5 expectations, which are limiting especially when you add on commuting times either side. 

I think something fundamental to the debate is flexibility for men as well as women. If it’s always a woman’s role to pick up the childcare side of things, they will always be ‘lesser’ in the workplace because they are limited to certain hours. In certain traditionally male industries, such as banking and sales roles, there’s often an assumption that there is no flexibility – it’s not even a discussion – and the mother will be picking up the childcare. In addition, more businesses should employ a person to do a job as opposed to being at a desk within certain hours. As an online business, we are able to provide flexible working across a number of roles because we don’t have opening hours as such. I think more and more businesses will move that way.

Lisa Fisher, 4D Business Coaching:

I think it is important for workplaces to support and value working women for a variety of reasons and that this supportive culture attracts, retains and engages working mum’s valuable contribution. Having a flexible working environment will ensure women such as myself are able to return to work and still have an effective work-life balance. I am not sure if companies are legally required to ensure flexibility but have heard horror stories from some friends who have not experienced a welcome return to work! 

It would be helpful if a woman’s overall productivity could be looked at and that might not mean working the standard 9 to 5. For example, some talented working mum’s might prefer to work shorter days, in the evenings or even a weekend which will enable them to have some form of flexibility. However, homeworking comes with both advantages and disadvantages so working women need to have an awareness of the blurring boundaries that may come from working in their home and some employer’s expectations of the permanent “on call” culture which fortunately I do not experience.

Working from home has enabled me to have more of a work-life balance as I am not commuting, feel that I am more productive as am not tired from the travel to and from work and can balance my client’s needs with working the hours that are more suited to family life. My employer has supported me in this role and I am very fortunate to be able to work 4 days a week Monday to Thursday in term time and this reduces to 3 days a week in the school holidays so we only require childcare for our 6-year-old daughter 2 days a week.

Once when speaking with a mum of two young boys she advised how she had to give up a 15-year successful career within property sales and business development as she could not do justice to her kids and felt guilty of neglecting family due to long working hours of estate agencies. Not surprisingly her employers were least interested in providing any form of a job share, flexibility or support. In a nutshell, it is still very hard and an almost discriminatory for returning mums into the world of work in many ways.

I am sure a lot is being done and it may be better than what it was 20 years ago, but times are changing fast and women’s involvement in businesses at every level is far greater than ever so I believe we need to push employers and businesses on how fast they can accommodate the personal lives of talented, versatile professionals and let them feel “not left behind” because they are actually capable of bringing life into this world, surely that should be rewarded not punished.

At InteriMarket we are pioneering in becoming the hub for all mid-senior interim, consulting and longer term contracting roles. If you wish for a solid pipeline of work, eliminate wasted time and efforts – you need to stop hunting on several job boards and join us. We bring opportunities.


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Recruiting and Retention in a Gig Economy: What to Expect in 2017 and Beyond

Entrepreneur Working on His MacBook

Independent workers, or freelancers, have always been part of most industries. For years, professional writers and coders have thrived off temporary positions with multiple organizations. It was simply a game of leveraging an ever-expanding network to find new opportunities.

But in recent years it has caught on like wildfire.

A 2015 Intuit study predicts that by 2020, 40 percent of American workers, or an estimated 7.6 million, “will be regularly working as providers in the on-demand economy.”

While most of the country enjoys low unemployment figures, some questions linger: what will the workforce look like when more employees decide to work independently?

How will Human Resources technology adapt to as more workers turn freelance?

Most employers aren’t concerned with communication, expectation, and deliverables of freelancers. Recruiting and retaining top talent is, as always, at the top of their to-do list.

However, a recent Harvard Business Review article suggests that “Workers who possess strong technical, management, leadership, or creative abilities are best positioned to take advantage of the opportunity to create a working life that incorporates flexibility, autonomy, and meaning.”

In other words, the same top talent organizations are investing in securing.

From an Organization’s Perspective

Since its inception, independent contractors have been widely viewed as dispensable employees who work on one campaign and are then left to find new work. It had become an accepted form of management and, when needed, utilized to temporarily fill a gap in hiring or meet a deadline.

It was an agreement both parties had come to accept, if not begrudgingly on part of the contractor.

With steady-building numbers and a resounding voice, independent contractors are beginning to find themselves in a position to make more demands than ever before. The Wall Street Journal reports that “contractors and consultants… demand to be treated with dignity and almost as if they’re your employee,” vigorously shaking themselves of the former “disposable” identity they had come to loathe.

As more top talent takes the leap into independent work, organizations must reframe their perception of a contractor’s role within the organization—an interesting evolution to watch for in coming years.

An Overdue Evolution for Top Talent

Take the alarmist nature above with a grain of salt.

Employees who excel at their work are simply finding more opportunities; their energies focused on more challenging and interesting work benefits them—and it should.

Positioning themselves towards better financial tides, great talent receives the income, schedule, flexibility, and benefits they seek. In short: they’ve become entrepreneurs within their respected industries.

It may seem uncertain how organizations will grapple with the growing trend, however those who see the opportunities will benefit.

What Becomes of the Workforce?

There is still room for uncertainty, of course. The idea of a gig economy instills thoughts of empty offices, those left performing menial tasks while their contemporaries increase their personal value.

The simplest way to regard the consulting revolution is in terms of career advancement. The consultant has reached a new stage in their career and is flourishing.

Organizations will “expand [the] talent pool to incorporate gig economy workers on vital roles,” according to a recent HR Tech Weekly post.

This, of course, raises questions about benefits, employee relations, training, and more. Questions that HCM software will undoubtedly come to address as the gig economy continues its expansion.

Existing full-time employees will see benefits as well. As recruitment strategies begin to loosen, organizations will focus attention on retaining full-time employees they’ve already invested in. A recent Forbes article offers that “companies that invest as much time and resources in the development of their talent will be the real winners in the coming years.”

Likewise, candidates once overlooked by organizations will be reconsidered as their peers turn to consultant work. The gig economy can benefit every party involved, so long as organizations understand how to leverage the new workforce.

Let the Internal Talent Search Begin!

If the gig economy teaches us one thing, it’s that niche skills are sought by multiple organizations. Employees should (if they have not already) harness unique skillsets to gain from the new order—especially if they are full-time employees.

By harnessing known and new skill-sets, current employees may find themselves trained and nurtured to higher positions within an organization—especially as more and more explore independent work.

2017 inches us closer to before-mentioned Intuit predictions, and they are not likely to be off my much. Start the year off by refining crafted skills and exploring new ones.

Leadership is watching and determined to retain as many employees as possible.


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HR Predictions: Rethinking Employee Benefits in 2017

Paid Family Leave

Only a few weeks remain in 2016, and as we look to the next year, there is no denying it’s a truly dynamic time for HR professionals. We work in an environment that is constantly changing and filled with new opportunities to enhance the way we lead and manage our most important asset, our people.

Today, business leaders are faced with a challenge those who have come before them have never encountered – assimilating five different generations into today’s workforce and leading teams comprised of individuals with unique priorities, interests and expectations.

Generation Z is stepping foot into the workforce for the first time, millennials are settling down and starting families, and baby boomers are faced with the responsibility of caring for elderly family members. While the priorities may be different, the theme is the same: when you hire an employee, you employ the whole person, including their family, their health and their interests.

As we look to next year, the major HR trends I see will be surrounding rethinking employee benefits. Retirement benefits were en vogue across workplaces in the 80s, but today, employees are thinking less about the future and more about the now. Their mindset has shifted to how employers can help them maximize their time with family or to pursue individual experiences, as opposed to emphasizing retirement benefits and pensions.

Here’s how we anticipate that mindset shift will affect HR in 2017:

Paid Family Leave

Today, we’re realizing a gap in the family leave laws concerning who is covered and who is paid. The Family Medical Leave Act (FMLA) offers job protection, but it is unpaid and only offered for up to 12 weeks. Currently, only 12 percent of employees (via United States Department of Labor) have access to paid leave, which tends to be offered by technology and financial services companies as well as some businesses located in California and on the east coast.

An emerging trend across organizations that is gaining increased traction is placing more emphasis on paternity and family leave. Millennials who are starting families are pushing employers to acknowledge the importance a father plays in raising and bonding with their child, and on the flipside, Generation X and Baby Boomers are caring for ill family members and require additional leave to support their time away. California was the first state to implement paid family leave, which has also spread to the corporate level. Deloitte is now offering employees up to 16 weeks fully paid of family leave to support range of life events like maternity and paternity leave, elder care and aid for sick family members and partners.

Unlimited Vacation – The Ultimate Flexible Benefit

When surveyed, many employees reveal that a top benefit they look for when considering a role is the amount of vacation offered. Surprisingly, studies have shown that while employees earn 20 days off, the majority only use 16 of those days. Employees today are using a full work week less than they did in 2000, and it’s having a major impact. Work expectations and demanding schedules are causing employees to take less time. As a result, employees miss three notable events a year and only 38 percent of employees feel supported to take time off.

A handful of employers are trying to reverse this trend by offering flexible unlimited vacation opportunities for employees. Unlimited vacation empowers employees to decide what to do with their time off while ensuring that the necessary work is completed and the absence is not damaging. Experts analyzing this trend believe that employees are motivated not to let their peers down or to damage their own career by misusing the benefit. While unlimited vacation is not for every company or environment, look for more organizations to consider this benefit.

Flexible Hours

We’ve all experienced it – sick family members, an unexpected doctor’s appointment, or an emergency home repair. Life happens and employees are looking for employers to be cognizant of responsibilities outside of the office. I can’t recall an interview where I wasn’t asked about our company’s expectations concerning work time commitments and the flexibility we offer. The question for HR is how to encourage flexibility for employees and how to teach managers to embrace flexibility to attract the best talent. Consider implementing work from home or flexible hours policies to help employees balance work and home life.

Freelance Economy

A growing trend that will affect even more businesses in 2017 is the “gig” or freelance economy. Work or “freelance gigs” are being organized into a variety of arrangements that can easily be bid on by a variety of freelance or consulting positions. One out of three millennials currently freelance, and by 2020, the Bureau of Labor predicts that 40 percent of American workers will be independent contractors. In areas of specialized skills, those types of talent are looking for freelance opportunities and organizations will be tasked with offering the same type of flexible arrangements for employees that freelance positions receive.

While many trends are affecting the HR industry, we as leaders have a real opportunity to challenge the status quo to enhance our employees’ experience. How do we disrupt the typical routine? Emerging trends are driving us to look at the employee experience in new ways and to listen to consider our people in everything we do.

About the Author:

Karen Crone is Chief HR Officer at Human Capital Management company Paycor.

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4 Ways To Transform Talent Management Success With AI

Artificial Intelligence in HR

The technological revolution continues to gather pace. Investment in AI is expected to grow by over 300% in 2017 compared to 2016, according to research consultancy Forrester in its report : Predictions 2017 : Artificial Intelligence Will Drive The Insights Revolution. Used effectively, automation and AI empower employers to create effective talent management strategies. Here are just four for 2017:

Future Workforce

Tapping into the gig economy : Workforce models are evolving to encompass gig economy, contractors and part-time workers within traditional recruitment workforce planning systems. In the UK alone, one million people are now agency workers but there is a clear distinction between agency and the ‘open talent’ workers of the gig economy. Evaluate the source of your most successful employees with recruitment analytics and expand your talent pool to incorporate gig economy workers on vital roles. 70% of gig economy professionals have over 10 years of experience in their market and will prove to be a valuable resource as skills in sectors such as tech and engineering become more scarce.

Recognising the disconnect : The growing popularity of a freelance career is expected to lead to a fall in employee loyalty but it goes beyond contingent workers. Hays UK Salary and Recruiting Trends 2017 survey found that, while nearly a quarter of employees consider work/life balance important, only 13% of employees feel the same way. Recognising the disconnect that exists between HR and its employees is essential to improve engagement. The Institute of Leadership and Management refers to this disconnect as a ‘leadership lag’. Measuring employee retention levels through data analysis will provide insight into the success of your talent management strategy and enable HR to deliver change.

Engaging candidates : Chatbots are predicted to play an increasingly interactive role in hiring. Jobseeking company Fastjob trialled chatbot Mya earlier this year. Mya is designed to take over 75% of the recruitment process, utilising a combination of AI and natural language processing (NLP). Early trials indicate that candidates who engaged with Mya were over three times more likely to be contacted by a hiring manager. Chatbots are also considered more suited for mobile than apps. In a further development, the Financial Times also reported last month on robot hiring manager, Matlda. Still in the research stage, Matlda is designed to shortlist and interview job applicants. Successful hiring means engaging with technology. Companies choosing to stay with the familiarity of manual recruitment systems will fail to attract high achievers. HR technology is the first step ensure your company is poised to compete in a candidate driven market.

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Monitoring wellbeing : A focus on workplace wellbeing will be central to successful talent management in 2017. For instance, the global workplace is facing a sleep deprivation crisis. In the UK alone, sleep deprivation costs an estimated £40 billion per year, or 200,000 working days, according to RAND Europe. The US loses 2.28% of its GDP – up to $411 billion and 1.5 million days – due to sleep deprived employees. As wearables begin to incorporate AI, HR can tap into technology to monitor sleep patterns and implement policies to improve employee wellbeing. 56% of people would be happy to allow employers to collect data from wearable technology provided there was a related benefit, although it should be noted that 41% don’t trust their employer not to use the data against them. Implementing a clear policy for ensuring the ethical and confidential use of the data gathered is essential.

Writing in Harvard Business Review Andrew Ng observes that ‘if a typical person can do a mental task with less than one second of thought, we can probably automate it using AI either now or in the near future.’ Engaging with automation and AI, empowers HR to rapidly respond to and engage with ongoing changes in the workforce and labour market. HR technology is your first step towards achieving that goal in 2017.

Advorto’s recruitment software provides workflow and structure across the entire hiring process, offering a dynamic database of candidates and analytics. Used by some of the world’s leading organisations, it provides a straightforward first step into HR analytics and big data.


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