The end of HR as we know it and other trends looming in 2020

December 18, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The business landscape is constantly changing. Innovation permeates each of its pores, from the processes that are carried out to the mentality of the employees, through the technology that is used on a day-to-day basis or by the company's own organization.

Gone are the times of organizations in silos, in which the most cutting-edge tools shone by their absence; it is time to take advantage of all the resources to gain the competitive advantage necessary to place on the market podium.

Workday, multinational of cloud applications of finance and HR for companies, has announced its forecasts of evolution of innovation in 2020 and has pointed out five aspects that will be a trend during the next months:

Machine learning becomes more personal

In 2020 we will see the end of HR as we know it, since machine learning will personalize the experience of employees so they feel more informed, agile, and backed by their companies.

By predicting what people want and giving them quick access to what they need, machine learning will help make work more personal and productive.

In the next 365 days, the data will be expected to be available at the right time and provide all the necessary information, from guidance for professional development and personalized content, to answers to HR or payroll questions through digital assistants.

The year of organizational agility

A recent study carried out by Workday indicates that the businesses that generate the most digital benefits are those capable of quickly realigning their two most important assets: employees and finances.

In 2020 companies will prioritize flexibility and the ability to adapt to changing plans, structures and models, while seeking ways to remain competitive in an environment that is constantly changing.

Diversity in action

The conversation about diversity will continue to grow, with discussions that will not only take place within companies, but throughout the world.

Measurement through dashboards will become a common space and will encourage companies to set diversity objectives for managers and leaders to execute and allow them to provide data on their progress.

This will help companies take more direct measures when it comes to hiring, training and promotion to address gaps in the workplace.

Greater internal mobility as the war for talent grows

Consolidated organizations are at a crossroads: acquire the skills necessary to compete and win or let someone else do it.

A study by Workday reveals that more than half of the companies plan that 50% of their team acquires new capabilities between now and 2024 to adapt to current forms of work.

In 2020, technology that combines skills will help leaders achieve greater internal mobility of their employees to make it easier to find and assign people to projects, as well as for workers to identify new opportunities.

For example, artificial intelligence could match an employee interested in new experiences with an opportunity to help launch a product in another department for six months, depending on their skills.

A greater awareness of the relevant opportunities will help to improve the commitment, contribution and value of employees.

CFO with greater power and responsibility

CFOs and financial leaders will face constant changes and challenges driven by new technologies, changing business models and disruptive competitors.

This will lead to increasing pressure to innovate faster, provide more accurate estimates and provide information that will help the company respond quickly to market changes.

As a result, the financial departments of many companies will replace traditional static planning cycles with continuous planning, updated in real time as circumstances change.

By monitoring this change and fulfilling these new responsibilities, CFOs will be in an ideal position to lead navigation in organizational transformation.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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December 18, 2019

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