By now, on both personal and business levels, the phrase seems a tad annoying: “New year, new decade.” The start of another year often signals a period of rebirth or reimagining, along with nearly every enterprise seeking new ways to achieve both traditional and forward-looking goals. The truth is, when it comes to the realm of “getting work done,” the decade ahead is, indeed, an opportunity for businesses across the globe to tap into the advancements and innovations within talent, technology, and overall corporate strategy.
For those of you that are tired of hearing about the Future of Work, I have some bad news for you: 2020 is a critical year for this movement, one that is founded on the principles of both human- and technology-led transformation. In Part I of this series, we discuss several key ideas that will drive the Future of Work in 2020 (and beyond):
- The lines between human capital management and contingent workforce management will continue to blur. Procurement has long been the driving force behind the majority of the world’s Best-in-Class CWM programs, mainly due to the supplier- and commodity-led roots of what was once considered one of several high-profile complex spend categories. However, as the non-employee workforce grew in size and prominence, and as businesses began to understand the top-tier skillsets held by independent talent, human capital management principles (such as learning and development, the candidate experience, etc.) became more crucial. In the decade ahead, more and more businesses will apply the HCM touch to their contingent workforce programs.
- Businesses will leverage flexible work models to “reimagine” the ways work is done. The idea of a remote workforce isn’t new (at all), but its impact has fresh benefits ranging from lower costs for workers, markedly improved productivity, and greater collaboration between functions and teams. Virtual tools and unified communications can bring together traditional and remote workers in real-time, and, most importantly, help facilitate a near-matched level of productivity and collaboration as traditional work structures. In 2020, the “distributed workforce” will help shape how work is done.
- Artificial intelligence (AI) will transform how talent is found and engaged. While AI is no means a perfect blend of technology and science (especially considering some of the unconscious bias-related risks in its applicability to the world of talent), the fact is that more and more businesses actively trust AI (and AI-led models) to assist in finding the best-fit talent and workers for a given position, role, or project. According to upcoming Ardent Partners research, nearly 70% of businesses believe trusting AI to match candidates to project/organizational requirements will transform recruitment and talent acquisition in 2020. This “trust” component is critical: AI has the potential to truly revolutionize the way businesses structure their talent acquisition initiatives.
Stay tuned for Part II of this unique look at the Future of Work, and, be sure to subscribe to the Contingent Workforce Weekly podcast for your weekly dose of news and insights on the evolution of talent, the impact of innovation, and the continued transformation of business strategy.
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