In the process of digital transformation, putting your people at the core of your business is not just a positional conversation . According to IDC, by 2021 at least 60% of G2000 organisations will monitor and manage employee experience (EX) and will use it as a key differentiator to create and maintain B2B and B2C relationships. By 2025, the employee ecosystem will be a key determinant of business success.

Businesses now understand that their employee journey starts with the employer brand, making prospective candidates aware of the culture, vision, and mindset of the company. This quickly evolves into an employee ecosystem that delivers insights and puts a premium on agility and flexibility.

IDC also predicts that by 2023, 95% of organisations will have instilled a new set of digital KPIs —focusing on product or service innovation rates, data capitalisation, and employee experience to delegate in a digital economy.

For this to succeed, businesses need a core technology foundation to enable better onboarding and help HR get out of the simple box mentality of people and the business. In addition, there needs to be a future proofing of the business, as IDC predicts that by 2023, 35% of workers will start working with various forms of AI including bots, this would require companies to redesign performance metrics, operational processes, and recruitment strategies.

They need  HRM software that helps HR become an enabler, that will help them adapt to constant change and take on the challenges of managing new and easy ways of work, such as contingent labor, digital coworkers and create a thriving employee ecosystem with humans at the center.

IMPLEMENTATION AND FOCUS AREAS:

• Core HR & employee experience

In order to improve employee experience and productivity, organisations are said to show interest in flexible, intelligent, collaborative virtual and physical work environments. This can be seen in the research done by IDC that indicates by 2021, a future-workspace model will be applied by 60% of G2000 companies. This means that the employee experience needs to be fine-tuned, reshaped, and refined with the use of survey & measurement tools that regularly record engagement and measure workforce sentiment. This can be scheduled or ad-hoc, with short survey bursts, gamified tasks, or a combination of employee and managerial feedback.

• Building for ease & support

IDC research shows that many businesses now put additional emphasis on and encourage collaboration and knowledge sharing.

It is said that 65% of G2000 companies that offer remote-work and coworking will have an increase in demand for top talent. As a result this would initiate extensive access to enterprise and collaboration applications.

However, this needs the right infrastructure to succeed. In this case, managing external talent and contingent labor, or multidirectional feedback solutions that offer a social approach to areas of expertise across the organisation for manager-to-employee, employee-to-manager, and peer-to-peer interactions.

• Designing a flexible environment

By 2023, the fundamentals and requirements of HR policies, functions, processes and tool are to change. It is predicted that 40% of workers would offer their services and digital skills through gig economy platforms and talent marketplaces.

This is supported and improved with the use of data and personalisation, but also by understanding the answer to the most critical question: what does our company do and how we can do that well? Your business cannot be agile if your employee environment is not.

• Leverage people analytics

Analytics can help by deploying platforms to track employees’ performance in an effective way. An analytics platform is extremely useful to obtain real-time data on the workforce but also create employee-tailored paths of growth according to the knowledge gaps recorded in every single employee profile.

For example, 65% of HR organisations surveyed by IDC in 2018 rated reporting and analytics as a crucial factor when they make decisions about HR solutions.

Predictive analytics can be used to improve talent management, which becomes more complex as companies grow.

Workforce analytics for talent acquisition brings significant results, such as cost reduction, better fit with the role, customised onboarding, and improved retention. Solutions should be able to source and absorb data from multiple sources and in different formats, migrating data and information into a single platform to obtain a better workflow and improve real-time insights.