This is just what I expect from my long time brilliant pal, Imon. Fantastic.
First, let me share the following:
Now I say as I always say: Every System MUST wholistically transform themselves to take advantages of the new HR and global trends. As I prepared for a session to help organizations transform in in Saudi Arabia, I ran across this excellent article factionalizing the transformation coming in the next 20 years.
As I have been saying in one way or another since 1969: More change will occur in the next 20 years than in the history of recorded civilization.
The above shocking article is of most interest to the usa…still I believe the rest of the must world take notice. I warn you, I needed to decipher out the investment advice. It replaces for me the IBM research on the near future that I have depended upon in the last ten years.
Recently, I was ready to give up the USA as the leader of the world. Since then, I believe the USA has woken up. I.e. we lead the world substantially in spending on Innovation. Such is paying off. And it will pay off sooner than later.
Now words from the brilliant Mr. Ghosh!!
“HR Trends for 2016
Let us begin with broad macro-economic and labour market trends, continue with technological trajectories, and then drill down to how these are likely to affect HR practices.
India’s economy is expected to grow by almost 7% in 2016 according to Moody’s, and by over 8% according to the Government of India’s Economic Survey for 2015-’16.
HR trends in India are therefore likely to be very different from those in Brazil, whose economy shrank by over 4% during the past year.
According to Fortune Magazine, 5 trends will shape the global economy in 2016:
1. The global economy will continue to be powered by America
2. China will stay stuck in second gear
3. Commodities (including oil) will be cheap
4. Europe will edge closer to crisis
5. India will become the new growth king.
According to the Manpower Employment Outlook Survey released on 8th December 2015 by ManpowerGroup, the survey of 5,065 employers across India indicates that Indian employers expect the hiring pace to remain robust in the January-March time frame. For the second consecutive quarter, employer confidence in India is stronger than in any of the other 41 countries and territories participating in the survey. More than four in 10 employers expect to add to their payrolls in the first three months of the year, and the hiring pace is expected to be vigorous in each of India’s seven industry sectors.
“As the Indian economy keeps up its escalating growth trajectory, the job market also looks very positive. Job seekers are optimistic about job opportunities in the country. The Indian market continues to grow, with strong confidence bolstered by high levels of investment. Giving the much needed reforms impetus to the economy, the government announced Foreign Direct Investment (FDI) reforms in as many as 15 sectors. Employer hiring intentions remain positive, primarily driven by Transportation and Utilities, Wholesale and Retail Trade, Finance, Insurance and Real estate and Public Administration & Education Sectors,” said A G Rao, Group Managing Director at ManpowerGroup India.
“The e-commerce sector is one of the fastest growing industry segments today and is expected to experience continuing growth and perhaps a significant boom in the coming months. Led by increasing Internet penetration and youngsters’ presence online, India’s e-commerce market has seen huge growth in the past few years,” added Mr. Rao.
Year-over-year, hiring prospects improve in three of the seven industry sectors. Public Administration & Education sector employers report the most noteworthy increase of 8 percentage points while Outlooks are 2 percentage points stronger in both the Mining & Construction sector and the Transportation & Utilities sector. However, hiring intentions weaken in three sectors, including the Wholesale & Retail Trade sector and the Manufacturing sector, where Outlooks decline by 7 and 3 percentage points, respectively.
Global Trends ManpowerGroup interviewed over 58,000 employers across 42 countries and territories to forecast labour market activity in Quarter 1 2016.
Employers are encountering some headwinds. For instance, China’s slowdown is evidently impacting labor market activity beyond its Asia Pacific neighbors. Depressed demand for raw materials is pushing mining and extraction sector forecasts down across the globe, including in Colombia, Peru and South Africa where sector forecasts are the least optimistic yet reported. What’s more, many ManpowerGroup operations corroborate the recent Talent Shortage Survey and report that employers continue to be frustrated by their inability to source specific talents— including IT, engineering and many skilled trades.
Overall, forecasts are mixed in comparison to the Quarter 4 2015 and Quarter 1 2015 surveys; hiring plans improve in 23 of 42 countries and territories when compared quarter-over-quarter, decline in 13, and are unchanged in six. Outlooks strengthen in 19 countries and territories year-over-year, weakens in 18, and is unchanged in five. First-quarter hiring confidence is strongest in India, Taiwan, Japan, Turkey and the United States. The weakest—and only negative—forecasts are reported in Brazil, Finland and France.
About the Survey: The Manpower Employment Outlook Survey is the longest-running, most extensive, forward-looking employment survey in the world, commencing in 1962 and now polling nearly 59,000 employers in 42 countries and territories to measure their intentions to increase or decrease the number of employees in their workforce during the next quarter. The survey serves as a bellwether of labor market trends and activities and is regularly used to inform the Bank of England’s Inflation Reports, as well as a regular data source for the European Commission.
Josh Bersin of Deloitte, in a webinar on 1st December 2015, identifies the following 10 disruptive HR tech trends in 2016:
1. Consumerised HR Technology
2. Mobile is the new platform
3. The emergence of ERP vendors
4. Redefining HR functions with built-for-the-cloud providers
5. Feedback and culture management as new software categories
6. The new way of managing performance and goals
7. Integrated content from everywhere
8. The growth of predictive analytics: more vendors, more solutions
9. Cloud computing does not make technology services obsolete
10. Employee engagement is critical
Elaborating on the first point, Bersin notes: Only a decade ago HR systems were designed primarily to help HR professionals do their jobs. HR management systems (HRMSs), applicant tracking systems (ATSs), learning management systems (LMSs), and most payroll and benefits applications were created to streamline the work of HR administration, improve record-keeping, and help redesign HR processes. Although employees were considered the “end-users” of these systems, they typically used them as little as possible, and mainly as replacements for the paper forms developed by HR.
Today the market has radically shifted. Many HR applications are becoming tools for employees first, enabling them to better manage people, learn and develop, and steer their own careers. Several years ago we talked about the shift in HR technology from “systems of record” to “systems of engagement.” Today’s HR applications should be fun, gamelike, and designed to help improve our productivity at work.
Tom Haak, Director of the HR Trend Institute, sees the following HR trends in 2016:
1. From hierarchy to networks
2. Invasion of smart tech
3. Globally connected
4. A generational shift
5. Making fun is serious business
6. Purpose before pecunia
7. Fast eats slow
8. Big plans to clever experiments
Haak’s 10 talent management trends for 2016 are:
1. To a broader definition of talent.
2. More customized programs.
3. Looking for general profiles.
4. From secret to transparent.
5. From general to very specific skill training.
6. The increasing importance of HR analytics.
7. From annual to regular maybe even real time feedback.
8. Gamification everywhere.
9. Pay top for the best
10. From 1:1 succession management to broad talent pools.
“Not all trends will be visible or applicable everywhere. Some organizations are trying to create or nurture counter trends.” Haas states.
Looking beyond 2016, billionaire investor Jeff Greene is of the view that workers could go the way of the horse-and-buggy, because of the “exponential growth of artificial intelligence”. When I attended the 1st International Conference on Artificial Intelligence in Government and Industry in 1989, participants from across the globe presented papers on different aspects of AI that resulted in a weighty conference proceeding. Dr. Edward Feigenbaum of Stanford, considered to be the ‘Father of Expert Systems’ delivered the keynote. Work augmentation and not job replacement was the focus of this AI conference 25 years ago.
Imon Ghosh is founder and CEO of Imon’s Imprints, which is currently involved in corporate training design and delivery, consulting on Whole Systems Transformation (with OD and change management thought leader Roland Sullivan), business model design and innovation, and brand strategy, besides the publishing of books, ebooks, audio books and online courses. He has served as Head of Training at a Fortune 100 MNC in India, as well as the Director of the Academy of HRD. Imon is a life member of AIMA, NHRDN and ISTD, as well as the Indian Economic Association and the Indian Society of Labour Economics. He can be reached at email@example.com”
Transform your self or be left behind.
I expect to have the greatest personal transformation shift in 2016. 2016 will be a year of worldly renunciation and detachment ( except following the Minnesota Vikings when they are winning ) only to attach to using my expanding energy to leave my legacy to a few so they can love the world for decades to come. In sum, I am giving up the world to help transform the world. No TV. No wasting time. No Movies. No friend chats. No Hobbies. Just listening to how I must transform from my coach, Maja. Just meditation and work. Work is my play!.
Just meditation and work. Work is my play!.
My mantra since the 60’s.
“Life, being an ascent of consciousness, could not continue to advance indefinitely along its line without transforming itself in depth.” Teilhard de Chardin
I met Buckminster Fuller. He told me that he created the Geodesic dome in his two years of silence and meditation in Iowa. He said he really appreciated his wife’s support.
Here is a relevant quote of his for me.
“There is nothing in a caterpillar that tells you it’s going to be a butterfly.”
He is reminding us that we really don’t know what’s next for us, and we often can’t tell by studying our current situation. Transformation happens in an instant. It is surprise. It is usually not knowable until that instant magical moment. Still, we can be disciplined to prepare ourselves for transformation. The super conscious initiative state is often a sign of transformative progress to being and becoming our best.
What transformation are you preparing for in the coming new year and beyond?