The world of work is shifting more rapidly than ever before. But while some trends are written about ad nauseum, other key trends may not receive the attention they deserve. We read about robots and work-from-anywhere and millennials as managers, not to mention skills-based hiring and all things “agile workforce.” We know tenure is trending down, “worktirement” is trending up, and that school curriculums are not keeping up with the ever-accelerating pace of technology. And in the U.S. on the doorstep is 10,000 Americans a day reaching retirement age — a demographic boom leading to a 20 percent senior population by 2035, the highest in history.
I am convinced that in the 21st century talent management will be the key differentiator of successful organizations. Within a couple of decades, no matter what measure you use, those with the most advanced approach to the recruiting, development and retention of talent will outperform those who lag behind.
A significant shift is transforming today’s corporate landscape. The gig economy and technological advances are reshaping the workplace in ways that have significant ramifications for human capital and talent management. Flexible independent work provides increasingly attractive and viable career options for millennials and Gen Z, while artificial intelligence and automation are replacing job functions and requiring a fresh look at leadership training.
Pittsburgh-based Highmark Health generates some $19 billion in annual revenues and employs about 50,000 people across the nation. The healthcare company serves 50 million people in all 50 states. Highmark’s diversified portfolio includes businesses in health insurance, healthcare delivery, retail eyewear, and dental solutions. Like many companies today, Highmark Health has embarked on a broad digital transformation initiative. This transformation touches every part of Highmark, requiring new technologies, new skills for the workforce, and new ways of operating.
For the past decade, enterprise technology vendors have been in a bit of a race to deliver machine learning and artificial intelligence solutions that help organizations to be more effective. The race is over; these tools are here.
Artificial intelligence and human resources may seem like strange allies at first glance. Artificial intelligence (AI) calls to mind words such as “cold,” “robotic,” and “automated,” while human resources (HR) is, for all intents and purposes, focused on people and relationships. Even the names themselves seem hopelessly at odds: AI is artificial; HR is human. This cursory lens may be an underlying reason why HR has been one of the last functions to adopt AI technologies, while nearly every other department is in the midst of an AI frenzy.
As the world of work evolves, the employee-employer relationship has also evolved and now looks much different than even a few years ago. The employee journey is fluid, and organizations must allow for the movement into, within, and out of their company with flexibility and ease. Better employee-employer relationships drive higher engagement, loyalty, and trust. And these key elements are the building blocks of a successful future for any modern organization.