22 July 2020
Human Capital: five trends that will redefine your business
Surely you have heard this many times: "Human capital is the most important asset of your business". It is a truth that is fulfilled even in companies that are dedicated to gold extraction in the mines.
How long will your business survive if your main resource starts to lose focus, value and direction without you realizing it? The answer is: not long. To prevent this from happening, it is essential to follow the trends of human capital and respond in the most appropriate way.
When there is a trend, it is not always very clear until it has passed. Next, we detail five tendencies of human capital.
People of several generations
The first trend or, to be more precise, reality for most employers, is the presence of a human capital that comprises five generations whose members tend to have different points of view regarding work, due to their age and the formative experiences of their youth.
Shortage of talent
As a result of the continued recovery of the economy since the 2008/2009 financial crisis, the unemployment rate has fallen to historic lows. However, the challenge is not to find people to fill vacancies or new jobs: the challenge is to find people with the right skills, especially for jobs with a high technological component.
Given the high demand for qualified candidates, many employers face a real battle to fill vacancies, which often arise when workers leave for a better offer or consider that they will have the opportunity to progress in another company.
Dependence on temporary workers
Despite the challenge of finding and retaining talented workers, employers have relied heavily on temporary workers in recent years.
According to the latest study by the Bureau of Labor Statistics, about 6 million workers belong to this category, i.e. they represent almost 5 % of human capital.
The dynamic business climate has encouraged many employers to seek greater flexibility in the management of human capital through project workers in numerous positions.
Increase in teleworking
The strong desire to be able to work from home, expressed by many workers, has doubled the numbers of personnel who have accessed a certain degree of flexibility in the labor field during the last decade.
The latest survey on this aspect of the IWG reveals that 83 % of employers have begun to allow part of their staff to telework or plan to adopt this measure. The employers surveyed believe this is a way to increase their talent base.
Digital Disruption in Human Capital
As technologies become more complex, employees are forced to become computer technicians to maintain a job that previously required a number of different skills.
On the other hand, there is the increase in the adoption of Artificial Intelligence (AI) for the analysis of human capital, which is considered a double-edged sword.
On the one hand, it is possible to hire and train employees and work teams in order to adapt more accurately to the changing needs of employers in the search for human capital.
On the other hand, these radical changes mean new demands for both workers and managers.
How long will your business survive if your main resource starts to lose focus, value and direction without you realizing it? The answer is: not long. To prevent this from happening, it is essential to follow the trends of human capital and respond in the most appropriate way.
When there is a trend, it is not always very clear until it has passed. Next, we detail five tendencies of human capital.
People of several generations
The first trend or, to be more precise, reality for most employers, is the presence of a human capital that comprises five generations whose members tend to have different points of view regarding work, due to their age and the formative experiences of their youth.
Shortage of talent
As a result of the continued recovery of the economy since the 2008/2009 financial crisis, the unemployment rate has fallen to historic lows. However, the challenge is not to find people to fill vacancies or new jobs: the challenge is to find people with the right skills, especially for jobs with a high technological component.
Given the high demand for qualified candidates, many employers face a real battle to fill vacancies, which often arise when workers leave for a better offer or consider that they will have the opportunity to progress in another company.
Dependence on temporary workers
Despite the challenge of finding and retaining talented workers, employers have relied heavily on temporary workers in recent years.
According to the latest study by the Bureau of Labor Statistics, about 6 million workers belong to this category, i.e. they represent almost 5 % of human capital.
The dynamic business climate has encouraged many employers to seek greater flexibility in the management of human capital through project workers in numerous positions.
Increase in teleworking
The strong desire to be able to work from home, expressed by many workers, has doubled the numbers of personnel who have accessed a certain degree of flexibility in the labor field during the last decade.
The latest survey on this aspect of the IWG reveals that 83 % of employers have begun to allow part of their staff to telework or plan to adopt this measure. The employers surveyed believe this is a way to increase their talent base.
Digital Disruption in Human Capital
As technologies become more complex, employees are forced to become computer technicians to maintain a job that previously required a number of different skills.
On the other hand, there is the increase in the adoption of Artificial Intelligence (AI) for the analysis of human capital, which is considered a double-edged sword.
On the one hand, it is possible to hire and train employees and work teams in order to adapt more accurately to the changing needs of employers in the search for human capital.
On the other hand, these radical changes mean new demands for both workers and managers.
