Ceridian, a global human capital management (HCM) technology company, announced the launch of its inaugural 2019 Human Capital Management Trends report.
The report explores the HCM trends that Ceridian believes will impact companies on their journey towards managing their workforces in 2019 and beyond. As the future of work evolves, Ceridian believes a strategic approach to HCM – one that connects HR outcomes to business results, powered by smart and personalized technology – is likely to help companies win the war for talent and gain a competitive advantage.
“The relationship between the employer and employee is constantly evolving and becoming more complex,” said Leagh Turner, President, Ceridian. “Disruption courtesy of emerging technologies is nothing new. In this transparent age, where information is easily shared about a company and its practices, business leaders need to understand and be ready for these changes to foster an employee-centric environment that attracts key talent and reduces churn.”
To help leaders navigate this evolving world, Ceridian predicts that the future of work will be led by:
1. Holistic HCM – For companies operating on an international scale, visibility into the big picture of HCM practices will drive long-term value.
2. Access to innovation – Enterprises will look for a single source of HR truth that also provides access to innovation.
3. Talent matching – The process of matching candidates to jobs will become smarter, backed by innovative technologies such as chatbots and predictive analytics to assess fit.
4. Consumerized platforms – In the period of instant gratification, HR teams will be expected to provide employees with an experience at work that is comparable to their experience as consumers.
5. Employee engagement, wellness, and productivity – Employers will seek to understand the ROI of engagement and wellness, and its connection to productivity by establishing clear definitions and measurable metrics.
6. Diversity, inclusion, equity, and privacy – Employees expect companies to take their data privacy, stewardship, and security commitments seriously.
7. The rise of teams – HR leaders will play a key role in enabling and improving team collaboration, by redesigning their structures to be built around teams.
8. Employee learning – A new category of software for employees is emerging, called the Learning Experience Platform, to cater a content consumption experience like YouTube or Netflix.
9. People analytics – Organizations have passed the pilot phase of people analytics, and are planning new and more powerful uses for these programs at scale.
10. Artificial intelligence – The applications of AI across HCM are nearing maturity, and HR practitioners will continue to draw upon its potential to improve their department’s effectiveness; while addressing challenges around bias or inaccurate data.
Ceridian’s 2019 Human Capital Management Trends report identifies what are believed to be the biggest challenges and opportunities facing employers. These trends have been chosen by Ceridian’s Market Intelligence team from continued market monitoring, including interviews with Ceridian’s customers, industry analysts and experts, coverage of major industry events and developments, and analysis of the HR technology landscape.