TECHNOLOGY
Technology to support change
Ross Tracey, managing director, Ceridian Europe, identifies the crucial role technology plays
T he UK has one of the lowest ly/3aaUXpC) and the highest demand for vacancies since 2000 (742,000 open vacancies – see http://bit.ly/36UIoNs). Clearly there is a demand for talent. As a result, companies and recruiters are having to be more creative around how they attract the best people by offering more flexible working conditions. Technology will clearly have a role to play in supporting these initiatives as talent within certain sectors can access the tools they need to do their jobs – whenever and wherever suits their lifestyle. There are several technologies that have emerged over the last decade which have had a huge impact across all sectors. Yet businesses recognise that simply pursuing the ‘next big thing’ isn’t going to better the employee experience or drive business performance. For example, the focus is squarely on using artificial intelligence (AI) to spark transformation, and not just to automate broken or laborious processes. The greatest impact in the near-term appears to be using AI to augment and amplify the actions of people rather than to replace them. Similarly, big data and predictive technology has changed user expectations. Employees expect more, decisions are data-driven, global workforces are mobile, regulatory complexity is increasing, and predictive tech changes everything. Our research (http://bit.ly/2FTv2EZ) shows that whether they are an entry-level employee or a vice president, people want to see their work making a difference. The findings suggest that staying with one company for several years let alone decades is becoming less prevalent. The way work is evolving, it’s more about continuing to have an expansion of knowledge and experience. Our research found that the majority of younger people want to feel their work is aligned with their unemployment rates in the European Union (3.9% – see http://bit.
values providing them with a sense of purpose. Company missions, values, and brand promises should go beyond the employee orientation booklet and come to life in a way that is natural and fundamental to the workplace culture, experiences, and environment. Looking at the responses from older generations, on the other hand, these workers are often more ambitious and more likely to work with a single employer for longer. Since they’re goal-oriented, they are often motivated by promotions, professional development, and having their expertise recognised and valued. ...technology is being readily used to retain star employees... Of course, while there are trends and patterns across different demographics and groups, it’s fundamental that organisations build their people strategy around the individual needs of their people. Creating a long-term commitment between an organisation and its people requires a dedicated retention strategy. Tactics to attract and retain talent – regardless of generation – include the following. ● Personalisation – Employers should create flexible strategies to accommodate the unique circumstances of employees’ career and life stages. ● Transparency – Employees need clarity on what to expect about compensation, promotions, and their career trajectories at the organisation. Regular check-ins keep everyone on the same page. ● Total wellness – Shift from a transactional relationship with employees to one of mutual support. Organisations that support the complete financial, physical, social, and emotional well-being
of employees, at any stage of life, inspire dedication and loyalty. ● Career growth – Employees want new challenges, even those who aren’t in line for a promotion. Find ways to offer new opportunities to the right people at all levels. ● Provide purpose – Ensure every employee knows the impact they make on company goals and empower them to drive results. Employers should spend time building retention strategies around those employees who are the future of your business. No matter the age, role or tenure, you can keep a diverse talent pool engaged and performing their best throughout their career. For leading businesses, such as Ceridian, technology is being readily used to retain star employees, as follows. ● Collaboration – We believe work is what you do, not where you go. To support our flexible workforce (full-time, part-time and remote workers), we are deliberate in the technology we provide to drive collaboration across our organisation. It’s not a ‘one-size fits all’ approach either. ● Succession planning – We provide technologies to our people and our leaders to help them identify the right employees to fill key roles in the event of expected or unexpected turnover or in instances of growth. ● Predictive analytics – Enabling leaders to understand and analyse key factors linked to employee flight risk. By identifying early top performers who are at risk, leaders can be more diligent in their coaching and development initiatives. ● Candidate experience – As organisations grow, and candidates engage with your brand, you need to create a positive and engaging candidate experience from hire to retire. The key for the next decade will be to ensure organisations create collaborations between humans and technology to succeed in the marketplace of the future. n
| Professional in Payroll, Pensions and Reward | February 2020 | Issue 57 46
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