In the past,
we've resorted to treating everyone the same in our
discrimination-sensitive, politically correct environments.
Given the increasingly diverse workforce, organizations will
need to offer more variety in rewards as they try to access the
best and the brightest in a seller's market. Anne Ruddy, CCP, President, WorldatWork
Watch Anne Ruddy, CCP, President, WorldatWork,
discuss the future workplace.
Not only is the workplace changing
dramatically, the wants, needs and desires of employees are
vastly different now than they were a decade ago - and they are
evolving even further. According to human resource association
WorldatWork, employers must change the way they view rewards to
match the expectations of employees.
WorldatWork released eight trends that will change the nature of
human capital management in 2008 and beyond. The predictions are
intended to compel organizations and total rewards professionals
to position themselves to take advantage of the coming changes,
and not be blindsided by them. Preliminary findings were
announced at the WorldatWork Total Rewards Asia Pacific
Conference, which took place in early November in Singapore.
"In an environment where the global scope of opportunity and
technology are all-pervasive influences, an organization's
interaction with a rapidly changing labor force will result in
dramatic transformations in workforce management, work design,
outsourcing and training," said Anne Ruddy, CCP, president of
An exhaustive literature review of futurist books and articles
coupled with critical analysis by WorldatWork knowledge leaders
formed the basis of the effort. Several themes surfaced
consistently that will require human resource practitioners to
re-think their approach to managing human capital. Total rewards
professionals must examine these predictions for opportunities
to contribute to the business goals and actively define their
role for the future.
Following are the eight predictions on the future of work:
1. The successful organization of the future will excel at
acquiring, organizing and strategically deploying global
2. There will be increased global connectivity, integration and
interdependence in the economic, social, technological, cultural
and political spheres.
3. Technology will advance at an even more rapid pace than in
4. There will be continuous, dramatic changes in the labor
5. Human capital will become an even greater source of value.
6. The way work is organized and performed will evolve and
7. Outsourcing will increase.
8. Self-paced, self-directed individualized virtual learning
will dominate business training.
"These predictions have wide-reaching implications for the
professions involved in employee attraction and retention," said
Ruddy. "An organization's ability to attract, motivate and
retain will emerge as the primary indicator of fiscal
performance and survival."
The WorldatWork white paper covers several implications for
human capital strategy, including:
Labor Force – Workers will value job enrichment, flexibility and
career development above job security and stability; employers
will need to respond to this shift.
Work Design – Dramatic technological advances, i.e.
telecommuting hubs and virtual worlds, will mean that being "at
work" won't necessarily mean being at the office. Managers must
learn to manage what they can't see.
Outsourcing – Organizations will look for ways to pull jobs
apart to find pieces to outsource. Thought must be given to the
motivation of workers assigned "pieces" of the work.
Training – Digital communities will flourish, and experts will
assert themselves through these communities. Training will be
available in small, readily accessible, easy-to-use modules for
use at any time.
"In the past, we've resorted to treating everyone the same in
our discrimination-sensitive, politically correct environments,"
Ruddy said. "Given the increasingly diverse workforce,
organizations will need to offer more variety in rewards as they
try to access the best and the brightest in a seller's market."
RTO Online is the official channel for Rent-to-Own Industry News and the
only independent source of news for the rent-to-own, rental-purchase,
lease-purchase trade. RTO Online (Rent to Own Online) represents the choice
of the entire RTO Industry for trusted information, as it happens.