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Here are the top news stories in talent & organization from this week.
Top three tech trends for HR in 2020
As the job market continues to tighten, technology will continue to be front and center as a powerful tool to help HR professionals achieve their recruitment and retention goals, claims Paul Phillips. In this Forbes blog post, he outlines three top technology trends that will emerge in 2020: 1. Using technology to make onboarding more effective. 2. Increasing use of video conferencing throughout the entire employee life cycle. 3. Using virtual reality for onboarding, training and more. “There’s no doubt that innovative technology and digital transformation will continue to impact companies across every industry in 2020 at an increasing velocity. Life as we know it will never be as slow as it is today and tomorrow,” Phillips writes. “The clock continues to spin faster and faster, making it even more imperative to stay abreast of technology and avoid getting left behind. With the pace of change that we’re seeing in the marketplace today, those companies that fail to embrace these top technology trends will likely find it difficult to catch up.”
The benefits of a multigenerational team
Instead of debating which generation is more innovative or less tech savvy, we should be focusing on why we need each other at the workplace, argues Heidi Zak. She lists three undeniable benefits to having a multigenerational team—perspective, innovation and leadership. Zak claims that there is no right or wrong perspective based on age or experience. “One still believes the chart will never trend down, which gives them tremendous courage to pursue their ideas without fear. And the other knows the chart will go down at some point, and will plan accordingly,” she writes in an Inc. blog post. “Individually they are both right, and they are both wrong. But together they are terrific.” The same goes for innovation, Zak claims. “You can have a fixed mindset when you’re 22 and a growth mindset at 60. Or, you can have a growth mindset at 22 and a fixed mindset at 60,” she writes. “In the workplace, looking at people in terms of what generation they’re from can be misleading.”
The new workplace of 2020
The workplace of this decade is a whole different animal than the workplace of the previous one, claims Cyndy Trivella. In this TalentCulture post, she outlines the major differences: 1. The rise of remote work is continuing to make the office of the previous generations obsolete. 2. Technology is making it easier for employers to monitor employee activities—computer usage, email and calendar activity, as well as social media and biometric data. 3. Despite the surveillance, employee activism is on the rise. 4. A workplace with a purpose and one that reflects their values is what matters most to employees. 5. The definition of benefits is changing, with more employees demanding flexibility and paid paternal leave. 6. The end of the corporate ladder as younger workers start their own companies or work on their own projects. “The workplace trends of 2020 will change the way your office operates—and that can be to your office’s benefit if you’re prepared to take advantage of it,” Trivella concludes.
Accenture’s “Workforce 2025” study makes the headlines
North American banks could save more than $70 billion through 2025 using technology to automate jobs or assist employees, according to the latest Accenture research. “Workforce 2025,” released in mid-December, made headlines in American Banker, Bloomberg, Business Insider and more. “There are certainly some jobs that will be automated,” said Cathinka Wahlstrom, head of Accenture’s financial services practice in North America. But technology can also a boon for employees who remain, she said. “It’s an opportunity as opposed to something to fear. Done right, it’s going to be great both in terms of productivity savings and ultimately client experience.” The study found that the broader group of financial services firms in the region could save $87 billion to $140 billion through automation and augmentation of more than half their tasks. The cost savings could be as high as $44 billion in insurance and $25 billion in capital markets.
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