In 2020, organisations across the globe re-evaluated the way they operated, employed and managed their workforces.
Based on research by LinkedIn editor Andrew Seaman, in mid-2020 recruiters felt that the biggest changes to staffing processes were going to be in relation to the quantity of employment opportunities, reskilling existing staff and a preemptive shift to virtual processes such as online onboarding. As organisations altered their core HR procedures to mitigate these changes, several key trends arose including:
1. Automated technology and HCM software
Human resource protocols and systems were re-evaluated within many organisations in 2020 to meet the changing recruitment and remote working landscape. Through this process of researching and implementing new technology, businesses began uncovering the numerous benefits of HCM software and its automated features.
The growing interest and investment organisations are making into HCM systems is improving the way recruiters access skilled talent, improving hiring speeds, talent data management and streamlining HR protocols such as onboarding.
As remote workforces continue to grow, automation technology and HCM software will become increasingly prevalent in workforces across the globe, with 80% of HR professionals reporting that their company’s investment in technology will allow them to maintain or grow their headcount and increase employee productivity.
2. Contingent staffing growth
Agility became essential to business operations in 2020 as challenges surfaced including fluctuating health and safety requirements, financial instabilities and mobility restrictions. To combat this, many organisations turned toward contingent staffing models, with 32% of organisations replacing full-time employees with contingent workers in 2020-2021 as a cost-saving measure. In addition to reduced expenditure, organisations have reported that contingent staffing improved productivity and workforce flexibility considerably.
This trend is predicted to grow in popularity, with 77% of executives believing that freelance and gig workers will substantially replace full-time employees in the next five years. To accommodate this growing trend, many organisations have begun implementing contingent staffing solutions powered by HCM software, enabling them to compliantly deploy quality talent, maintain workforce visibility and consolidate employee data within one secure location.
3. Reskilling and training
Over the years, concerns amongst business leaders have grown regarding the availability of critical skills within their workforce and the overall job market, with 87% of employers struggling to fill positions as a result of global skill gaps. This is especially prevalent for tech-related skills, where current demand is well-exceeding skilled worker availability. In response to these growing concerns, training and upskilling existing employees is quickly becoming a solution.
It’s currently estimated that two out of three businesses expect their learning and development budgets will increase in 2021; this comes as more businesses recognise the benefits of upskilling their teams. In addition to filling needed skill gaps, reskilling and training employees can improve retention, reduce recruitment costs and improve overall staff morale.
Now’s the time for businesses to assess and reshape their workforce structures and access skilled talent globally. EPG Staffing bring in-country knowledge to architect permanent and contingent staffing solutions, with licences to staff direct in multiple jurisdictions. Our employment solutions are driven by global HCM technology that delivers one united user experience. Contact us to discuss your staffing or migration options today.
About EPG Group
EPG is a leading provider of payroll, HR and workforce management services across multiple global jurisdictions. Powerful HCM technology underpins our permanent and contingent staffing solutions, immigration expertise and managed payroll services, bringing assured compliance to businesses globally and empowering today’s evolving workforces.