Jan 3, 201912:54 PMProgressive HR
with Coreyne Woodman-Holoubek
HR insights to propel organizations forward in 2019
(page 2 of 2)
Human resources technologies investment
“During the past two years, venture capital and private equity companies have invested $1.87 billion in HR and workforce-related products, as shown in the HR Technology Disruptions 2018 Report by Deloitte & Josh Bersin. In 2019, the top trends to focus on within HR technologies are virtual and augmented reality and gamification. These technologies put new employees in real-world scenarios, can be extended to other training, and have practical applications for on-boarding and skills development.
“An HR systems survey by Sierra-Cedar found 45 percent of large companies and 51 percent of mid-sized companies are increasing their spending on HR tech in 2019, with 8 percent and 10 percent spending less. So, take one step toward integrating your HR and business systems. Focus on turning your people data into real, business information by leveraging augmented analytics that automates insights using the benefits of AR, VR, and gamification.”
— Shelia Milton, HR executive
Taking bold steps to make health care affordable using data analytics
“Employers will take bold steps to make health care more affordable for their employees and their companies, but not by cutting benefits. Instead, they will use their health care data to identify opportunities to control costs without sacrificing quality or access to care.
“Armed with information about cost and quality differences, employers will create incentives for their employees to use doctors and hospitals that provide great care and cost less! Why pay $4,800 for an MRI when you could get the same service for $600? Or why pay $60,000 for a knee replacement when you could pay $27,500?
“As more employers encourage their employee to use these “high value” providers, health care costs will decrease for employers and their employees. What’s more, doctors and hospitals that deliver good care and cost less will increase their market share. This will fuel healthy competition that drives meaningful system-wide improvement.”
— Cheryl DeMars, CEO, The Alliance
Artificial intelligence and ‘smartization’ ASAP
“2019 is going to be a big year for artificial intelligence (AI). Not only in generalized technological advancement, but also in practical business applications and human resources. AI will drive efficiency and further help lead organizations of all shapes and sizes forward in their journey of digital transformation.
“This year organizations should begin making plans for the ‘smartization’ of their business process and begin conducting analysis as to how AI can fit into the bigger picture. At present, a McKinsey & Company global survey confirms that 47 percent of business leaders have stated that their companies have embedded at least one AI capability in their business processes, and 21 percent say that their organizations have embedded AI in several parts of their business.
“In 2019, employers and human resources will start experiencing — for the first time — a talent gap in AI skills. Lack of developers, AI experts, and linguists who know how to utilize the existing prebuilt AI tools are in short supply. If organizations want to stay ahead of the curve in AI moving into the new year, it is critical that they invest in the talent that can help them drive meaningful results in this new frontier. The best way to go about doing this is to invest in developing AI skills internally. Analyze the current skillset of your IT or technology department, and develop a training program for those best suited to work with these emerging tools now!”
— Nick Myers, creative director, RedFox Creative
The blockchain of everything
Finally, a New Year prediction of my own:
Bitcoin, cyrptocurrency, and blockchain were three of the most Googled terms in the last two months (‘What is bitcoin?’ being the number one most Googled question of 2018). It’s not surprising, as the vast majority or people are curious about the technologies and their impact on the future of our lives.
What skills will I need to acquire? Will I need to learn how to code? Can I receive part of my salary in cyrptocurrency? Should I invest in bitcoin?
Organizations that offer access to learning about blockchain, its possible use cases, and cyrptocurrency investment education, will provide a new level of employee benefit and engagement. As well, companies that partner with innovation labs to microcredential employees and workers will not only build their knowledge bases, they will also demonstrate that they are serious about innovation and growth going into the next decade.
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