Cirencester (UK), November 2017 - With economic, technological, and social change creating a perfect storm for organisations and employees alike, 600+ HR leaders gave their views on the future of work to Fosway Group. Can HR's strategies hold the key to success in these turbulent times?
Fosway Group, a European HR analyst focused on the future of work and technology, have released new joint research into the realities of HR across the corporate landscape of Europe. The data includes responses from over 600 HR leaders and will be unveiled at HR Tech World, Amsterdam.
This research highlights HR's changing role in tackling the challenges facing organisations today, including
- how to become an employer of choice as the war for talent intensifies
- dealing with diversity in an aging workforce
- the suitability of HR processes for the modern workforce
- increasing HR budgets but decreasing HR headcount / appropriately investing money
- innovation and digital transformation - why new technologies such as AI and blockchain are far from a reality for most organisations (but could be critically important!)
- managers and organisational culture are getting in the way of employee engagement
For the first time, the research focused on the increasingly key areas of employee engagement and wellbeing. It also shines a spotlight on the influential role of HR in defining the Employer Value Proposition. Five out of the top six EVP elements are owned by HR, helping to attract, retain and develop the best talent.
David Wilson, CEO of Fosway Group said, "This research really demonstrates the strategic role HR has to play in the future success of organisations in an increasingly competitive market for skills and talent. There is a great opportunity for HR to extend its influence right now, but with a decrease in headcount and rise in HR technology spend the need to innovate and be agile is vital. Forward-thinking organisations are already looking at or using new approaches including video-based recruiting (84%), continuous employee appreciation (82%), and social recruitment (77%). However, with only 12% of organisations currently using artificial intelligence, the rate of innovation is only going to accelerate. Those that are early adopters of technology will see the benefits."
Peter Russell, director of HR Tech World comments, "With more disruption facing organisations than ever, it is actually an exciting time for HR to help shape the shifting modern workforce and define the future of work. This research is so important, as it paints a current picture of what's really happening both in terms of technology trends and disruption, but also broader changes to how organisations function. All HR professionals will benefit from better understanding these challenges and where the opportunities for impact and influence lie in the year ahead."
An overview and accompanying infographic of the HR Realities 2017-18 research is now available via the Fosway website. A series of in-depth papers analysing the data will follow from November on.
For organisations looking for a "Critical Friend" for independent feedback and advice around HR innovation and technology projects in 2018 and beyond, the newly launched Fosway Corporate Connect service is now helping individuals, teams, and enterprises to accelerate and de-risk their strategies and decision making.