Consulting firm Deloitte recently delivered a report entitled "Global Human Capital Trends 2014: Engaging the 21st-Century Workforce," outlining some of the key challenges facing human resources leadership and C-suite executives in the current business environment. Already a $6 billion market, Deloitte predicts that in 2014 the HR talent and software markets will grow 12 percent and 10 percent, respectively. This growth will be driven by the need to support increasingly disparate and mobile workforces and replace retiring baby boomers, which will create “leadership gaps” in more than 60 percent of all companies.
The “leadership gap” is a major trend for 2014, which illustrates the ongoing difficulty in attracting, finding and retaining new talent. In fact, the first of the Human Capital Survey’s Top 10 findings stated, “Leadership, retention, HR skills, and talent acquisition are the top global trends in perceived urgency.” Deloitte summarizes by stating that a limiting factor in the current global cycle of growth will be the increasing scarcity of talent, and their “Bottom Line” for HR teams was:
“Talent acquisition and access has changed in fundamental ways due to shifts in global talent markets, skills shortages, new ways of working, and the growing importance of social media and employment brand. To compete for talent in 2014, HR teams must move to more marketing-oriented, innovative, social media-savvy and global approaches to talent acquisition.”
These trends illustrate the need for the CIO and HR leadership to begin a true collaboration. IT must clear the path for HR in order to advance a company’s “brand” for recruiting, as well as to deliver the services that new recruits want and need. Because technology is key to success, CIOs and HR will need to work together as we increasingly rely on technology and as these new technologies continue to play a critical role in defining the future of work.
For example, CIOs will need to provide support and security for the devices that are part of the growing Bring Your Own Device (BYOD) trend, such as tablet computers, smartphones and devices like Google Glass. In fact, employees expect IT to provide some level of support. In order to compete in the new global marketplace for talent, CIOs and HR will need to connect on everything from ensuring that BYOD rules are implemented to enterprise security and using the latest learning and onboarding tools.
Virtual communications can be a big part of these new, technology-driven collaborations between IT and HR. Here are a few examples:
- Employee Recruitment: Virtual career fairs, such as this one for the United States Office of Personnel Management, can provide a way to advance an organization’s brand and provide an “always-on” recruitment tool with global reach. Benefits of virtual job fairs include providing maximum convenience to job seekers – enabling them to visit virtual booths, download resource materials, interact with recruiters and network – while enabling companies to communicate with tech-savvy candidates in a way that they can relate to.
- Training and Development: Sodexo uses a virtual destination to train some 4,500 geographically dispersed managers, which not only saves the company money but also delivers increased engagement with training content – and, according to internal surveys, greater employee satisfaction.
- Onboarding and Collaborative Leadership Development: Seeking a more collaborative, modern approach to onboarding new employees, Marriott created a virtual environment called “Voyage,” designed to give new management hires easy access to the training content and career development materials they need to be successful, as well as to ingrain corporate culture and teach new ways of working.
Virtual communications solutions make it easy for the CIO to say “yes” to HR teams. These platforms can support BYOD initiatives and other new ways of working, enabling companies to react quickly and be more competitive in the global talent market by giving both prospective and current employees the access they want and need, without draining internal resources.
Here at ON24, we think these trends are big positives. We’re always searching for new ways to employ our technology to meet business challenges, and the collaboration between CIOs and HR departments can effectively address the talent crunch, as well as the critical need to train and retain talent.