ROSELAND, N.J., Nov. 25, 2019 /PRNewswire/ -- Regardless of age,
industry or geographic location, as the workforce continues to
evolve, so do the needs of workers, businesses and HR leaders. To
better understand those needs, ADP®, a leading global
technology company providing human capital management (HCM)
solutions, uncovered the five HCM realities that will shape the
workplace in 2020 and beyond. Among these realities,
personalization and the ability to provide relevant and actionable
solutions will be increasingly sought by companies as they strive
to engage their workforce and strategically propel their business
forward.
"The world of work has reached an inflection point, punctuated
by a tight labor market and stabilizing wage growth," said
Don Weinstein, corporate vice
president, global product and technology at ADP. "Amidst this
landscape, we are seeing a business-critical convergence of
technology and data in the workplace. In 2020, companies will look
to leverage customizable tech solutions that meet the needs of
their organization, their teams, and their workers to provide a
more engaging and productive work environment."
Trends Impacting and Informing the Workforce in 2020:
A team-based approach will change how work gets done.
- Organizations of all sizes need to break down siloes to unlock
potential and create a culture of connectivity predicated on
engagement and performance.
- Even though work is often done on teams, HCM solutions to-date
have not been architected in a way that supports dynamic team work.
Expect that to change. The future of work lies in a flat working
structure that unlocks the potential of dynamic teams.
- The tight labor market will continue to fuel the war for
talent, forcing employers to reevaluate their teams and seek
alternative hiring solutions. Companies will increasingly look to
meet their talent needs by supplementing their staff with highly
specialized gig workers; former, returning workers; and retirees
that can support nimble work.
Personalization will become paramount.
- Employers and workers alike will demand app-driven,
consumer-grade HCM experiences – not monolithic software that is
difficult to implement. Technology platforms will need to adapt to
offer flexible options that companies, teams and even individual
workers can configure.
- The worker experience will evolve through a confluence of
emerging technology, artificial intelligence (AI) and machine
learning (ML). The evolution of natural language processing and
more conversational chat "bots" will help reduce time to complete
tasks and aid in promoting user adoption and system utilization for
individual needs.
- With the rise of new fin-tech solutions for consumers, workers
have grown more discerning about how and when they get paid. As a
result, the pay experience will reach a new level of
personalization, offering an easier way for workers to be paid, the
way they want, anytime they want.
- Forward-thinking workplace perks, such as personalized,
employer-driven financial wellness offerings will help workers
manage their pay, savings and improve their financial
well-being.
Compliance complexity will grow.
- Increasing regulatory demands throughout the world is
sharpening the focus on a need for agile compliance solutions. To
help companies navigate this landscape, HCM partners will need to
deliver global localization – the ability to localize compliance
tools that address changing policies, regulations and laws at all
levels with ease.
- As organizations and teams continue to become more global –
with workers logging in from around the world – businesses will be
increasingly focused on uncovering new, compliant ways to support
worker mobility, without creating unnecessary burden.
Data scientists and business owners will adopt a shared
mindset.
- Organizations today crave information that can help them make
informed decisions about their people. The talent war will be
fought and won on the ability to unlock and apply actionable
insights derived from reliable, decision-quality data.
- Companies, people and teams will benefit from timely,
data-driven insights that power decisions. Predictive analytics
will be table stakes for any successful business in 2020, providing
critical workforce insights such as overtime spikes, excessive
turnover, labor costs and pay equity.
- AI, machine learning, serverless computing, 5G connectivity –
these macro trends drive innovation as businesses strive to
optimize experiences for workers and clients. In the coming year,
companies that harness data and action it against emerging
technologies will not only survive but thrive.
Today's evolving workforce will require adaptable
technology.
- Just as teams will become more agile, so will technology
platforms. This shift will enable HCM providers to deliver
best-in-class levels of system uptime and scalability.
- As more and more businesses move workloads to the cloud, expect
the HCM industry to follow suit. Cloud-native platforms will
receive favorability, as they eliminate maintenance windows,
provide an open ecosystem approach, drive scalability and
performance, and require less technical fluency from users so they
can tailor worker experiences and create their own workflows.
- Companies will have greater access to technology that provides
ever-evolving, personalized solutions to fit their organization.
The ability to access a foundation designed for rapid change only
further supports flexible, adaptable solutions that effectively
respond to the changing needs of a company.
In addition to broad-based trends in the workforce, ADP has also
identified several vertical-specific trends impacting the gig
economy, accounting industry, franchise industry, benefits and
brokers, etc. For a more detailed look at all of the 2020 trends,
please visit Spark.
About ADP (NASDAQ: ADP)
Designing better ways to work
through cutting-edge products, premium services and exceptional
experiences that enable people to reach their full potential.
HR, Talent, Time Management, Benefits and Payroll. Informed
by data and designed for people. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People are
trademarks of ADP, LLC.
Copyright © 2019 ADP, LLC. All rights reserved.
ADP-Media
View original content to download
multimedia:http://www.prnewswire.com/news-releases/adp-anticipates-2020-to-deliver-smart-and-personalized-work-experiences-for-workers-and-employers-300964300.html
SOURCE ADP, LLC