Trends In Human Resources

Trends In Human Resources

Erica D. Johnson

University of Maryland University College

Pro: 600 9046 Communicating, Problem Solving, and Leading in Professional Fields (2221) Theresa Lechton

24 January 2022

Trends In Human Resources

People are the focus of human resources by definition. Is this implying that we should avoid using technology altogether? Quite the opposite. If so, what does this mean for the future of employment? That’s a strong possibility. As technology becomes increasingly important in the recruitment and retention process, robots are already a reality in the recruitment process itself. It is not uncommon to see automation and artificial intelligence (AI) being used in human resources on a regular basis today. Technological advancements are changing the way human resources departments interact with their employees, store records, and evaluate performance. It is possible to increase the effectiveness of human resource management by implementing new technological methods. Inappropriate use can stifle the company’s ability to manage its workforce. The best HR practices are those that maximize benefits while minimizing issues. Workforce analytics and employee support are aided by AI and machine learning (ML) technologies. Many businesses still find that hybrid work is the most efficient model. Additionally, an internal data security platform must be developed, and Blockchain is one solution to this problem.

It’s impossible to overstate the significance of human capital in both our professional and personal endeavors. As soon as the internet was created, it quickly became an essential tool for companies to use in order to make money and communicate with customers. As global competition intensifies and ventures become noticeably more aptitude based, the conscription of ability specialists becomes plainly basic and attracting the right candidates at the right time is becoming more difficult than at any time in recent memory.

The use of traditional enrollment strategies is no longer sufficient and auspicious in attracting a sufficient pool of suitable candidates. Many organizations have shifted to using innovative enlisting techniques or combining various enrollment tactics to attract them, such as the E-Recruitment. The objective of this paper is to explore the E-Recruitment and its effect on recruitment and selection. An e-recruitment, also known as digital recruitment or web search, is a type of hiring process that takes place online using an organization’s existing job description to post an opening. As opposed to traditional recruiting and selection practices, which takes place offline such as in newspapers or career fairs, using internet can be cost-effective and time efficient (Van Esch, Black, & Ferolie, p.219. 2019). Understanding the concepts behind e-recruiting not only helps you understand how recruiters use it to post vacancies but also how you can use it yourself for your own job search. Online recruitment is a tool which has known a phenomenal success in very short time (Galanaki, E, p.243.2002).

Top Trends of Human Resources

Outsourcing

Outsourcing refers to the process of exchanging a business capacity to an external expert organization. Outsourcing can be used in a number of different ways, ranging from communication to IT, accounting, legal and more. Recent years have seen the outsourcing industry grow at an impressive rate. A recent report revealed that over half of all U.S. businesses have outsourced at least one function in the past year, with about 20% outsourcing more than 25% of their workload (Selden p.1624 2020). An outsourced business team has built-in security systems, and other communication-based platforms that allow efficiency. Outsourcing can help save money and give organizations access to skills that they may not have. The most popular reasons for business owners to outsource are cost savings and improved efficiency, but many companies find global talent difficult to find locally so they turn to external organizations instead (Gozman, & Willcocks, p.250 2019).

Payroll outsourcing occurs when a company outsources some or all of its payroll operations to a third party. Tax reporting, regulatory compliance, data security, and unemployment claims are among the additional services provided by full-service providers. Payroll outsourcing enables the company to delegate all of the heavy lifting to the provider’s payroll experts, who are experts in their respective fields. It is their job to ensure that all payroll processes and payments adhere to the most recent legislation. Including statutory payments like sick leave and maternity leave in the calculation of payments. In terms of time and money saved, payroll outsourcing may be beneficial for employers. In addition to freeing up time to focus on business growth initiatives, increased accuracy can help businesses avoid costly fines. In the last year, there has been a significant shift toward working from home offices. Many people used to work in conventional office settings. From April 2020 to March 2021, 46.6 % of UK workers worked from home at least some of the time. (Selden p.162 2020). Because of the Covid-19’s tenacity, our full-time return to our offices appears unlikely.

Even after the virus has been eradicated, remote working will almost certainly continue in some form or another. Working from home (WFH) has become a popular option for both employers and employees because it gives workers more control over their schedules and lowers business costs while increasing productivity. Because of the numerous benefits of remote working, a significant trend is expected to continue in 2022.

E-Recruitment

E-recruitment also called online enlistment represents the most recent trend. Web is the key component of E-recruitment. Not only is the platform just a simple access point, but it mayalso authorize the recruitment process. Recruitment and placement of staff members in almost every industry have become online with E-recruitment as a key tool. It provides recruiters with an efficient way to connect with prospective job candidates and arrange interviews, while allowing remote candidates to share their resumes online. It can also confirm their qualifications and skill sets while eliminating the time consumed by frequent face-to-face meetings (Wright, & Atkinson, p,7.2019).

Online enlistment has not only made things easier for recruiters and jobseekers, but it has also improved efficiency by reducing costs of transportation, travel time, hotel arrangements, meals and office space for both businesses and individuals working from home. Statistics show that E-recruitment has been steadily growing in recent years.

Figure SEQ Figure * ARABIC 1  Employers Are Chasing Candidates, Raising Salaries To Attract Top Talent

Due to time, money, and stress savings, working from home is becoming increasingly popular among both employees and businesses alike. However, does it yield the same results as a day at the office? In the opinion of (YouGov Omnibus Statistical Data) one-fifth of HR professionals (20 %), employees’ work at home is “significantly higher” than their work at the office. Only 15% of employees believe this practice leads to better work quality, which indicates a lack of enthusiasm on their part. A majority (49 %) of HR decision-makers (and 45 % of employees) believe that it has no impact on output at all. According to research, only 27% of HR decision makers believe that employees who work from home are more productive than those who work in a traditional office environment Each group has a similar %age (20%) who believe that quality of work is lower, with 3 % stating that work standards at home are “significantly lower” than in the office (source). Employees at companies with policies allowing workers to work from home appear to feel the same way: 45 % of workers say their location has no bearing on the quality of their work, while only 22 % believe that working from home increases productivity.

Many businesses are shifting their focus away from physical workspaces as they increasingly rely on technology to provide a variety of services online. Workplaces, on the other hand, will never go out of style, at least not in the near future. Blind, an anonymous network, discovered that 81% of tech professionals believed the future of work would be hybrid (Dorsey, p.9 2022) Many people aren’t sure what the distinction between traditional and hybrid work entails. Before the pandemic, many of us had never heard of this term. Work hybridization, or the combination of office and home-based activities, can help bridge the gap between the present and the future.

Poaching

Poaching is another strategy that is being used today by various organizations. It involves the contending firms pulling in labor from adversary organizations. It is very common to see employee poaching in fields such as coding, programming, and development. These skills are in high demand and often recruiters will contact these employees to offer better benefits, better pay, or even a mixture of both. This strategy has helped many employees to leave their current company and provide their skills to a new employer. This is also a way for skilled employees to make more money and gain better opportunities. Poaching, also sometimes referred to as “job stealing”, is a strategy that is used by organizations of all sizes. It can be a particular strength for smaller firms with less capital and more labor available (Gaikwad, Shastri, & Dhole, p.34.2021). For larger organizations that are looking to gain competitive advantage, poaching makes sense if it allows them to gain the most from their competitors’ employees.

Most hiring managers admitted poaching employees, with 29% saying they do so frequently (8%) or on a regular basis (21 %) (Dallon, p4 2021). Some hiring managers admitted to poaching employees on occasion, with the remaining 24% doing so only occasionally. Employee poaching is the act of taking on the staff of a competitor. It’s also known as “talent poaching” or “job poaching.” The term “poaching” is often used in the context of illegal hunting, but job poaching is neither unethical nor illegal, and it can help to ensure a competitive labor market. “Job poaching” is the practice of stealing an employee from a rival organization. Taking someone else’s job increases the competition for the best employees while also helping skilled workers to increase their income and expand their career options. Because no-poaching agreements eliminate competition, antitrust laws may be violated. There are numerous benefits to poaching, including new opportunities, a “motivating factor” in the act, and the perception that poaching keeps “things interesting/fresh. (Dallon, p1 2021)” When it comes to retaining employees, employers should think about the incentives they are willing to provide.

Emerging Trend in Cyber Security- HR

Keeping sensitive information safe from cyberattacks and unauthorized access has become a top priority for businesses of all sizes, corporations, organizations, and even governments in the age of the Digital Revolution. Because of the increasing frequency with which we hear about data breaches, ransomware and hacks as a result of technological advancement, there has been a corresponding shift in cybersecurity trends. For the year 2022, here are the top cybersecurity trends to keep an eye out for.

Due to AI and machine learning’s widespread adoption across all market segments, significant strides have been made in cybersecurity as a result of this technology. Automated security systems, natural language processing, face detection, and automatic threat detection are just a few of the technological advancements made possible by artificial intelligence. These tools are being used to create sophisticated malware and attacks that bypass the most up-to-date data security protocols, despite their many useful uses in other fields. In the event of a data breach, artificial intelligence-enabled threat detection systems can alert administrators immediately.

The Past, Now and in a Post-Pandemic World: Cybersecurity Hiring Trends

Ransomware, security-as-a-service, and a lack of trust are some of the most prominent trends. The number of ransomware attacks is steadily rising. It’s predicted that ransomware will continue to rise in 2022, according to the European Union Agency for Cybersecurity. For the rest of our lives, the coronavirus will have a profound effect on the world we live in. It has been a roller coaster ride for the vast majority of us in the last seven months. It will be critical in 2021 to maintain your career momentum that you are flexible and resilient.

It’s safe to say that COVID-19 has had a significant impact on our economy, as well as our physical and mental well-being. When the global pandemic struck, I was on the front lines of hiring freezes, upscaling, and downscaling as a recruiter for cybersecurity firms.

What about the cybersecurity market? In what ways will things not change? The post-pandemic world has brought about many changes, and for these we should be grateful. Even though change can be frightening, it should also be embraced.

Because of this, there’s still a lot to learn about cybersecurity. The dangers are still there. Demand for cyber professionals has remained stable even as other industries have been severely hampered. There is a constant stream of market research, salary surveys, and other data that I have to deal with as a recruiter.

Figure 2 Trends Vs. Emerging Issues

Conclusion

Consequently, there are various emerging trends in the business world. Most of these trends have been promoted by the technological advancements that are changing the way things are done. For example, COVID-19. Most prepared businesses went to a “stay at home” status which allows for most employees to work from home virtually. For the companies who did not offer telework or have a virtual system in place, new online operations were established. The growth of the internet and technology has enabled the sharing of ideas, thoughts, and knowledge freely. Businesses are allowed to assess the different parts of their companies and continue to grow. This has had a significant impact on the business world, as it has made communication easier (Li, 2020 p.3). It is also changing how people buy things, what they buy and where they go to acquire whatever it is that they need. Ultimately these trends show that today’s business world is constantly evolving – new advances are happening daily which are shaping new trends in the ever-changing industry.

Neoliberalism, payroll services, and compliance with the law all present new opportunities for human resources departments to expand their horizons. As new problems emerge, it may be necessary to combine business acumen with an in-depth knowledge of HR best practices. Increasing the bottom line of a business will be made possible in 2022s by a combination of factors including artificial intelligence (AI), diversity, the gig economy, cloud-based HR technology, and productivity skills. A company’s human resources department can use its diverse workforce to gain a competitive edge, boost efficiency through outsourcing and technology, and fill positions with people from different cultural backgrounds who get along well together.

References

Dorsey, S. (2022). Upper Hand: The Future of Work for the Rest of Us. John Wiley & Sons.

Rudy Sooprayen (2019). Is working from home more or less productive? YouGov Omnibus https://yougov.co.uk/topics/economy/articles-reports/2019/01/14/working-home-more-or-less-productive

R. Dallon Adams (2021) Poached: It’s open season on top talent. Here’s what companies are offering

TechRepublic: A hiring strategy https://www.techrepublic.com/article/poached-its-open-season-on-top-talent-heres-what-companies-are-offering/#:~:text=Overall%2C%20the%20vast%20majority%20of,24%25%20only%20do%20so%20rarely.

Gaikwad, V., Shastri, A., & Dhole, V. (2021). A study of effective employee engagement in IT sector; A systematic study of emerging trends and challenges in business. UGC Care Journal, 44(1). https://mmimert.edu.in/images/ncss2021/17.pdf

Galanaki, E., (2002) The decision to recruit online: a descriptive study. Career Development International, Vol. 7 No. 4, pp. 243-251. https://www.emerald.com/insight/content/doi/10.1108/13620430210431325/full/html?fullSc=1

Gozman, D., & Willcocks, L. (2019). The emerging Cloud Dilemma: Balancing innovation with cross-border privacy and outsourcing regulations. Journal of Business Research, 97, 235-256. https://www.sciencedirect.com/science/article/pii/S0148296318302935

Li, F., (2020). The digital transformation of business models in the creative industries: A holistic framework and emerging trends. Technovation, 92, 102012. https://www.sciencedirect.com/science/article/pii/S0166497217300536

Selden, T. M., & Berdahl, T. A. (2020). COVID-19 and racial/ethnic disparities in health risk, employment, and household composition: study examines potential explanations for racial-ethnic disparities in COVID-19 hospitalizations and mortality. Health Affairs, 39(9), 1624-1632. https://www.healthaffairs.org/doi/abs/10.1377/hlthaff.2020.00897

Van Esch, P., Black, J. S., & Ferolie, J. (2019). Marketing AI recruitment: The next phase in job application and selection. Computers in Human Behavior, 90, 215- 222. https://www.sciencedirect.com/science/article/pii/S0747563218304497

Wright, J., & Atkinson, D. (2019). The impact of artificial intelligence within the recruitment industry: Defining a new way of recruiting. Carmichael Fisher, 1-39 https://www.cfsearch.com/wp-content/uploads/2019/10/James-Wright-The-impact-of-artificial-intelligence-within-the-recruitment-industry-Defining-a-new-way-of-recruiting.pdf

Figure SEQ Figure * ARABIC 1  EMPLOYERS ARE CHASING CANDIDATES, RAISING SALARIES TO ATTRACT TOP TALENT https://blog.recruiter.com/recruiter-index-june-2021

Figure 2 Trends Vs. Emerging Issues https://visionforesightstrategy.wordpress.com/2016/04/03/trends-vs-emerging-issues-what-is-the-difference/