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Workforce Institute Board Predictions for 2015
January 9, 2015
At a recent board of advisors meeting, members of The Workforce Institute at Kronos Incorporated discussed the top issues we believe will impact the world of workforce management in 2015. Individual board members also recorded personal predictions that will affect their respective industries that you can view on youtube.
We'll be discussing these predictions - and yours? - during a Tweet Chat on Thursday, Jan. 22 from 12:00-1:00 p.m. ET to discuss 2015 workplace trends and predictions. Use #KronosChat to participate.
Top Trends for 2015
Regulations Shake up the Workplace: Minimum wage law changes and looming U.S. Affordable Care Act deadlines dominated 2014 headlines, but organizations will feel the impact of these and other legislated changes in 2015. Additionally, with continued public discourse on non-exempt workers and topics surrounding a living wage, new legislation is expected to arise in this final term of the Obama Administration. With today's regulations administered not only at the national and state levels but down to the city, municipal, and individualized union levels, new compliance requirements will shake up processes for organizations while adding another layer of complexity for national and multinational organizations.
Employees are an Asset: Successful organizations have learned that excellent financial returns do not have to come at the expense of the employee. Research shows that employees - especially the front line, hourly workforce - should be seen as an asset, not just a cost to be managed. Successful organizations will invest more in their workforces to increase employee engagement and create a virtuous cycle that leads to happy customers.
Seismic Shift in Generational Workforce Dynamics: Baby Boomers - the largest generation to ever hit the workforce - will continue retiring in droves as their children take on more workplace responsibility. As their predecessors exit the workplace, many Generation Xers could see increased opportunity, including long-awaited pay raises. Millennials will take on management positions for the first time. Talent retention and career development will be key in 2015 as organizations train new managers while working to simultaneously shrink the skills gap and hold onto knowledge assets of a retiring workforce.
Analytics for Evidence-based Decision Making: Most organizations drowned in data in 2014, as many have not yet unlocked the secret to analytical success. However, organizations that have lagged behind will take notice of winning big data best practices from previous years, while workforce management tools will deliver analytics for evidence-based decision making in 2015. Industry-specific solutions, visualization technology, and new applications from specialized consultation and services vendors will utilize existing workforce management data to create actionable insight.
Consumer Technology Infiltrates Workforce Management: Human resources, operations, and management professionals would be wise to keep an eye on news from the 2015 Consumer Electronics Show, as consumer technologies are poised to dramatically impact workforce management. Mobile devices and social media have transformed the way employees and employers communicate, while gamification and wearable technologies are expected to win in the workplace. Workforce management software suites and mobile platforms will continue to evolve with consumer software design concepts, including increased focus on the user experience (UX), responsive design, and drag-and-drop and touchscreen performance.
If you'd like to hear all of these predictions and more directly from our board members, you can find them on youtube.
