Every year brings with it a new set of challenges. HR departments and professionals will experience their fair share of difficulties in 2020. Without proper planning, these issues could easily derail critical areas like recruitment and retention.
By understanding the challenges that most HR departments and professionals will encounter, companies can position themselves to thrive. If you want to make sure you are ready for what 2020 has in store, here are a few HR issues to watch out for and what to do about them.
Demands for Pay Transparency
While the majority of employers aren’t expected to disclose the salary of every employee, certain pay-related topics are increasingly being discussed publicly. This includes information about CEO compensation and pay ratios, details about the presence or lack of a gender or ethnicity pay gap, and similar subjects.
The rise in those conversations has also increased HR’s burden. Employees are increasingly asking questions about their compensation, and candidates are more likely to negotiate. As a result, HR is having to spend more time developing transparent salary structures, reducing the degree of uncertainty regarding pay rates.
The War for Talent
Companies are struggling to find the skilled professionals they need to thrive. Competition for top talent is fierce, and the tried-and-true recruitment and retention strategies of yesteryear aren’t nearly as effective in the current landscape.
In order to overcome some of the challenges, the C-suite and HR need to work closely together. By analyzing data, reflecting on priorities, and jointly strategizing to determine which approaches are effectively bringing in and retaining talent, a cohesive plan for achieving company hiring goals can be outlined.
Inclusion Become the Priority
Diversity has been a primary concern for several years. Companies concentrated on securing talent with diverse backgrounds in hopes of spurring innovation and greater levels of success. But diversity alone isn’t sufficient. Unless everyone feels like an important and welcomed part of the company, they will fail to thrive.
As a result, the focus is now shifting, causing inclusion to be a more pressing matter. The goal is to create a culture where all professionals feel welcome and included. That way, when a company cultivates a diverse workforce, everyone will feel comfortable and like an integral part of the organization, increasing the odds that they’ll stay long-term and that the company will thrive.
Paths to Enhance Employee Wellbeing
For Millennials, work-life balance and other personal wellbeing issues are priorities. Companies have to find opportunities to support these needs. Otherwise, they’ll struggle to keep Millennial talent.
This is made more complicated since not all employees define wellbeing the same way. The benefits and perks one would value might not be important to another. Due to the differences, companies are increasingly embracing the personalization approach.
With personalization, employees can choose from a range of benefits and perks. That way, they can choose options that provide them with the most value.
Are you looking for a better way to manage your workforce?
Ultimately, companies may face any of the HR issues above this year. If you’d like to learn more about how to overcome these challenges, the staff at TRC Staffing Services can help. Contact us today and see how our HR trends expertise can benefit you.
