Change is inevitable and this applies to the entire organisational landscape. This obviously includes HR as well. So, if you’re an HR professional wondering what’s in store, keep reading to find out. The culling of the Annual Performance Review Last year, we saw companies such as Adobe, GE, Accenture, and Deloitte do away with annual performance reviews. Naturally, with such big names announcing a major strategic change, it was only a matter of time before others started to follow suit So, 2017 could very well turn out to be the year where companies show the door to annual performance reviews. Of course, the progress so far has been gradual, but, the signs of life are still there. The primary reason for the slow progress is that some companies have actually had the entire thing backfire as employees started to show lesser engagement. However, annual performance reviews are outdated systems that definitely need to be phased out. But, that cannot happen before organisations have alternative solutions in place. So, 2017 could be the year of change management as HR managers seek to find innovative solutions for measuring and managing performance. A new breed of workers We are too used to reading about millennials in the workforce. However, that is likely to change as millennials will soon be replaced by Generation Z. Older millennials have already started entering their mid-30s and many of them have reached middle and top-level management positions. With Generation Z entering the work environment, HR managers will have to keep an open mind as they gradually face a variety of new challenges. Like all generations, this generation too will bring in its own set of pros and cons. HR managers will need to focus on leveraging the pros and overcoming the cons. Work-life balance Work-life balance has always been a topic of significance in the workplace. Though not much has changed in terms of improving it, there has been some microscopic progress. Thanks to changes in attitudes towards employee performance and technology, we will continue to get closer to a result-oriented work environment that isn’t focused on restricting the worker. Benefit-oriented compensation The average workers today aren’t satisfied with a decent pay check. They want additional benefits such as healthcare cover and flexible work schedules. For instance, we see the “work from home trend” gaining a fair bit of traction. The point is that today’s employee is demanding and HR needs to wake up to this. Hopefully, 2017 will be the year that happens. We are likely going to see organisations moving towards benefit oriented compensation strategies that encourage the employees to grow. This could include something as simple as offering financial assistance for higher education or creating a relaxing environment to work in.
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