People Analytics and the Future of Work

What images does the phrase “future of work” conjure up?  

One thing’s for sure, technological innovation will play a major role in how it unfolds. There is no scenario in which technology does not dictate the shape of our existence in and out of the workplace.  

While technology is central to how we envision the evolution of work, it’s not the only player. The future of work is a holistic projection of how work is done, the workplace, and the workforce will change in the years to come. The potential impact of these projections on your organization will inform the decision-making process and determine how you prepare for these changes. 

All this points towards people analytics being pivotal in the future workplace.  

The Future Labor Market 

Let’s create some context.  

Current signs show a continued trend of low unemployment with more vacancies than talent to fill them. High voluntary turnover rates are in the cards for some time to come as the people movement continues. 

Data scientists and experts predict global data will continue to grow. Big data powers almost everything and the need for skills to harness and process all this complex data will only increase. Look out for an explosion in the demand for data science and analytics expertise and a widening skill shortage in these areas and in data security. 

The Future of Work Model 

The models created by experts to explain the future of work focus on three elements: how the work is done, who does the work, and where/when the work is done. They omit an important 4th element—the work itself. 

1. Future Work 

Will the nature of work itself change? The short answer is “it depends.”  

A 2017 research report by DELL Technologies and Institute For The Future states that “85% of the jobs that will exist in 2030 have not been invented yet.” Many jobs, for example in manufacturing, that existed in 2002 are now obsolete. Many current jobs will disappear by the year 2030.  

Sadly, this means that many are studying or training for occupations that won’t exist in a decade. It also means that the skills gap will continue to widen unless we do more to anticipate the skills that will be in demand, and design learning programs around them.  

Skills development and reskilling are crucial and should be a top priority in your L&D strategy, along with analyzing recruitment data to determine necessary skills and the training to develop those skills. 

Many of these new jobs will require digital skills, adding to the already booming demand for data scientists and analysts. Continuous, lifelong learning is the new name of the game.   

2. Future Work methods 

Every facet of life and work is affected by digital transformation. Most industries will eventually join the wave, particularly those whose operations involve processes that are repetitive, rules-based, and high-volume, making them highly conducive to automation.  

With Robotic Process Automation (RPA), AI and machine learning rapidly taking hold, some jobs are being replaced by technology, while human jobs shift to become more digitally skilled to work in tandem with the technology.   

AI has already transformed HR by making possible the creation of actionable insights from vast amounts of data with predictive and prescriptive people analytics.  

3. Future Workplace  

In a word, flexible.  

The workplace is no longer a place. It’s any work space we choose. Anywhere and everywhere—home office, coffee shop, shared co-working spaces, and hot desks. Work from home, hybrid arrangements, and remote work are becoming the rule rather than the exception.  

Mobile and cloud computing also makes for an effortless transition to the new model, as access and connectivity is no longer tied to one specific location. 

On the heels of that change is the push towards a shorter, 4-day work week. This trend has taken hold in Europe. With the newly decentralized workforce, people analytics is crucial for keeping track of productivity, learning and engagement, and workforce management.  

4. Future Workforce 

Empowered 

Employees of the future will be more empowered and more engaged because employers of today responded to their changing needs by enhancing the Employee Value Proposition (EVP).  

Digitally skilled 

With the accelerated rate of transformation, they will commit to new digital technology skills and continuous learning. 

The skills gap will continue to be a challenge as technology spawns new types of jobs that may not have existed a decade prior. Companies that proactively identify the skills they will need instead of positions to fill will win the war for talent.  

People analytics will become indispensable for effective workforce planning that’s based on skills, attributes, and tasks for recruitment that prioritize fit and skill. Predictive analytics will help to understand where and how skills requirements will change so employers can strategize and mobilize their recruitment efforts. 

Diverse 

Using people analytics and AI for bias-free recruitment is increasingly popular as the DEI thrust deepens. For example, the blind screening of candidates. Bias is difficult to eliminate without a data-driven approach because it is often unconscious.  

Personalized 

People’s personal lives and experiences outside of work inevitably impact them at work. The personalization of experiences—in online entertainment, social media, and retail—is creating a society that is growing more accustomed to being individually catered to. People expect a tailored experience and expect a similar experience in the workplace.  

The employee is the customer and employers need to employ listening and engagement to help enhance the employee experience. The usual templates for assessment and engagement surveys won’t do. Employers will have to do more to make employees feel valued as individuals. 

People analytics can help personalize the employee experience by mapping career journeys, tailoring skills development, creating promotion tracks, and identifying and addressing pain points, to create an employee experience that feels unique to each individual. 

Conclusions 

Your path to an empowered, skilled, diverse, and personalized work experience starts with a robust people analytics function.  

Are you ready to get started? 

Phenom eCloud is a comprehensive technology solutions provider committed to empowering businesses to overcome challenges, enhance their workforce capabilities, and achieve superior outcomes.