04 Mar

Looking Ahead: 2020 HR Trends and Statistics

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Technology and shift in generations are two of the leading causes for the 2020 trends in HR. Looking to the data on such HR trends, it is apparent there are a few leading changes you need to keep an eye on in the coming year. Working remote, employee wellness, continued learning and development, and recruiting and hiring processes are all drastically shifting to incorporate more advanced solutions, strategies, and environments that elevate companies to remain competitive in their respective markets.

Working Remote
Working remote provides many advantages to both employers and employees. Stanford University reported increased work productivity and employee retention while employee absences decreased among people who worked from home. Many employees report feeling happier at their jobs when offered a flexible work arrangement. With 68% of employees stating that flexible work arrangements significantly influence their decision whether or not to work for a company, incorporating remote opportunities for employees can greatly benefit your company.

Employee Wellness
Did you know that for every $1 spent on an employee wellness program, the company saved $3.27 because of reduced healthcare costs? Poor employee productivity due to poor employee health has proven two to three times greater than direct healthcare costs.

Providing incentives, such as impactful statistics like for every 1% drop in total cholesterol, the risk of having a heart attack dropped by nearly three percent, could influence participation in such workplace wellness programs. If an employee does not wish to partake in workplace wellness programs, it may provide motivation to take their health into their own hands. For example, they may enroll in their preferred gym and the fitness classes offered there.

Continued Learning and Development
Roughly, 47% of on-the-job training opportunities are leaning towards automation and AI. With technology evolving the way for which HR and continued learning and development programs are delivered, it is just as important for companies to implement training and resources to learn such technology. Tools for performance management, analytics, and organization can all aid with creating learning and development programs. 75% of organizations are dramatically increasing their investment in analytics to provide real-time data and insights for performance tracking and effectiveness of programs.

Recruiting and Hiring Process
While 57% of HR leaders are restricted in resources and technical skills, nearly 24% of them are utilizing artificial intelligence for recruitment and a whopping 56% intend to incorporate it in the next year. There are many options available for implementing AI strategies and systems to revamp the hiring and recruiting processes, such as chatbots, communication apps, and gamification. With such an emphasis on the importance and impact of AI in the recruitment and hiring processes, it would be more effective for HR leaders to develop and refine their technological skills in anticipation for such changes.

Professional employer organizations offer competitive and innovative HR solutions, including payroll administration, employee benefits, risk management, and workers’ compensation. Vensure, your partner in HR services, can provide the human resource tools you need to become a successful HR leader.