How Analytics, RPAs and Collaboration will change Future of Work

TalkingHRAnalytics - The Future of Jobs

The Future of Jobs report by Word Economic Forum predicts the future business models that will be prevalent by 2020 irrespective of industry are Robotics, AI, and advanced materials including biotechnology. Between now and then, industry will evolve to find answers to questions related to consumer ethics and privacy issues that is arising from the application of technology.

TalkingHRAnalytics - The Future of Jobs

This change will lead to disruption in the industry by eliminating some of the existing jobs. The most disrupted market will be ASEAN, USA, France, Brazil and Germany. However, it is a mixed sentiment if it will create more and better jobs too. Only time will tell the truth.

The kind of jobs that is expected to decline are the ones – repetitive in nature and can be done efficiently and effectively via automation. Complex problem solving, social skills, and cognitive skills are the future skills for future organizations.

If social, cognitive, leadership, emotional intelligence are the future skills, organizations need to start aligning their Talent acquisition and development program accordingly.

 

Read the full report here

A similar trend is predicted by industry futurists too. We like it or not; it’s coming our way and much faster than what we anticipated earlier. Organizations need to be prepared themselves to embrace the change and be a leader than laggard. To be precise, HR needs to acknowledge this first and march forward to lead the path as a strategic advisor to c-suite.

Hence, to keep you abreast of industry research, work already in progress, and used cases from industry leading organizations, I am aligning my weekly newsletter content to how Analytics, Robotics Process Automation, and Future Roles will change we work. I will be picking up seven articles every week under my blog section “Seven from Heaven” to keep you equipped with the industry progress. Here is the first edition of 2017.

  1. Future of Work is not only about HR but about effective collaboration among multiple functions in the organization i.e. HR, Finance, IT, Real Estate and Procurement. I believe that in future we will witness C-suite roles collapsing into one or less than today. A better collaboration is a starting point than working in silos.
  2. Per CB Insight, more than $2 billion into HR tech systems and platforms in 2016 and trend will continue in 2017. Here are 9 HR Tech trends that you will be witnessing in 2017 – Performance management revolution, real-time engagement, people analytics, learning market, talent acquisition, contingent worker management, team management tools, wellness app, and an automated HR.
  3. Hello, my name is HARRI — I am your interviewer. Yes. We are talking about recruitment but a ROBOT interviewer. Robotics is one of the most spoken future in the recruitment world today. However, to start with, I see a panel consisting of Humans and Robots.
  4. For those, who are involved in building a world class IT teams – Artificial Intelligence will change the software development in future. Be prepared to start looking for a different skill sets in your IT geeks while building the talent pool for your future organization.
  5. Will automation lead to a better employee engagement? Initial observations are positive. However, conventionally, the annual survey has been the most widely used tool by the organizations to measure engagement. BUT, engagement surveys are dead now. I disagree. It has taken a new form, but the intent remains the same. This is purely attributed to “how” it is being done and use of the outcome. Leading organizations like Goggle are bringing qualitative and quantitative outcome together to take an informed decision using people analytics.
  6.  “what is the global headcount of PepsiCo”?. This one question led to Pepsi began the journey of 1000 steps in analytics.  HR Analytics (alias workforce analytics, Talent Analytics, People Analytics) is must-have capability now for HR to become a data-driven organization.
  7. To expand further, six usages of Talent Analytics explained in “Competing on Talent Analytics” by Tom Davenport, Jeanne Harris, and Jeremy Shapiro.

Concluding Thoughts: Future of work is promising but scary too – what if we don’t change ourselves. HR is on the cusp of either finding a new “HR” or getting eliminated. However, this change is not new to HR. We have witnessed economy shifting from manufacturing to financial, financial to a customer, and now customer to talent economy. And Historically, HR has evolved through all past challenges successfully. If the future economy is about AI, Robotics, and Analytics, HR will do it again – some will be leaders and some laggard. But there will not be an option not to change.

I hope you found this edition useful. Share your thoughts/responses in the comments section.

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About Manoj Kumar 79 Articles
A senior management consulting professional and an entrepreneur by heart, Manoj has led global change programs for fortune 500 companies like HSBC, Fidelity Investments, and GE. His expertise lies in functional strategy development, operating model building, process analysis, operational improvement, and simplification including global implementation of BI technologies. In 2014, he was recognized as one of the Top 72 HR Analytics Influencers worldwide. He is currently working as the Vice President, HR Analytics, HSBC. He is also very active in the Entrepreneurial community in India. His entrepreneurial stints include – India’s first online Toy Rental Company “Rentoys” (http://www.rentoys.in), featured in Outlook Money, ET, DARE, UTV Pitch, ET Now, BangaloreMirror, Indian Express, DNA) and an online marketplace for Indian voiceover artists – VoiceHired.com (1000+ artist community)