Factor these trends into your HR strategy this year.
As the Millennial generation is becoming a dominant workforce, new trends are gradually winning over the business world. There are over 70 million Millennials in the US who are forcing employers to embrace a brand new mindset.
The answer is simple – sufficient financial compensation is not enough to keep your workers satisfied anymore. On the contrary, it takes a much broader range of perks to increase employee retention. Here, then, are seven workplace trends to watch out for in 2020 and beyond.
1. Work-Life Balance
The first trend is a genuine game-changer since employees are finally trying to create a balance between their personal and professional lives. A study shows that almost 30% of workers start their day before 08:30, while 40% use their computers after 22:00.
It’s a serious issue that makes people exhausted and compromises productivity in the long run, which is why you should promote work-life balance in your organisation. From flexible schedules to work from home, there are so many ways to make your team members happier and hence more efficient.
2. Freelance teams
Why would you keep adding full-time workers to your team if you can find and employ freelancers online almost instantly? Freelancing has become a big deal as nearly 65 million people in the US alone now work as digital nomads.
It’s a win-win situation for both sides – employers get to choose from a large talent pool, while freelancers enjoy the privilege of remote work and maximum flexibility.
How can you find a freelance worker? The Internet is crowded with freelancing platforms such as Upwork, where you can find professionals of all sorts. You are free to check out their resumes, portfolios and clients’ reviews, so it’s hard to make a mistake and invite the wrong person to join your team.
3. Work for benefits
Numerous studies reveal that Millennials don’t see money as their first or even second professional priority. The largest global workforce nurtures a whole set of other values, which means they would appreciate many other benefits as well.
What are we talking about? First of all, Millennials are looking for a strong corporate culture and common values. They want to work and achieve a higher goal instead of just working for money.
Secondly, they want employers who are honest and open-minded. Workplace diversity is a big deal among Millennials, so make sure to embrace this kind of mindset. And finally, you should think about offering healthcare and wellness programmes as well as additional office perks.
4. Child care assistance
This trend goes hand in hand with the previous one. Namely, young parents are happy to work with employers who provide on-site child care assistance. That way, people don’t have to waste time picking up kids after work and they also get to spend more time hanging out with their children.
5. Lifelong learning
Lifelong learning is yet another trend that is threatening to revolutionise the workplace. New technologies emerge every year and change the way we do business, which is why employees have to keep learning continuously throughout their careers.
According to the report, companies that offer comprehensive training programmes have a 218% higher income per employee than companies without formalised training. The idea is clear – invest in lifelong learning and your team will be better, happier and more productive in the long run.
6. Fend off monotony with automation
Another thing you can do to improve the workplace environment is to embrace digital tools and eliminate the majority of boring tasks. Employees hate routine, manual and repetitive work, so why wouldn’t you help them by deploying new technologies?
Automation is not the only benefit here. Firstly, digital platforms get the job done faster and more accurately, thus improving customer satisfaction. Secondly, your employees can concentrate on creative parts of their work and come up with many fresh ideas to improve the business in general.
7. Employer branding
Employer branding is a company’s ability to differentiate and promote a highly specific set of corporate values. When making a decision on where to apply for a job, 84% of job seekers say the reputation of a company as an employer is important.
In such circumstances, you should do all it takes to build a strong employer brand and attract the most talented candidates. Of course, your current team members can help you with that through online promotion and positive company reviews.
The bottom line
Businesses change constantly, but so do employees. What used to be a major workplace satisfaction factor a decade ago is now obsolete and unable to retain today’s most talented professionals. This is exactly why you need to understand the new rules and embrace them in your everyday work.
Have you ever used any of these techniques to solidify your team and boost productivity? If so, share your thoughts and tell us which tip you believe to be the most impactful.
Scott Mathews is a Human Resource Manager at the UK Writers agency, nerdywriters.co.uk, in Birmingham, UK. He is also a part-time content creator, a thesis help expert, and a person who enjoys assignment proofreading. Besides that, Scott is the father of two kids and a huge fan of the New York Yankees.