Thinking outside the box just might give you an edge.
What’s in store for business leaders for the rest of 2013? What’s in store for you? More than likely it’ll be some of the same, along with rapid change, and then there’s always the unwanted and unexpected. One thing’s for sure,organizations that are more adept – those that can more quickly embrace change and leverage that change to build stronger relationships with their workforce – will be better positioned for success in the long term.
When it comes to attracting and keeping top talent – your most important competitive asset – organizations will look at any and all factors that may give them an edge. Because of this, the coming year (and beyond) will see the rapid experimenting and adoption of non-traditional approaches to communicate with and engage the workforce. This, according to a recent article I read in Talent Management magazine.
Here are some nontraditional workplace trends and predictions for the coming year:
- Annual performance review becomes history. The antiquated yearly performance review will continue its rapid demise. More frequent employee reviews will become the norm. And more forward-thinking organizations will insist that conversations about specific, real-time performance issues occur on a much more frequent, as-needed basis. These ad hoc conversations can provide the instantaneous feedback employees crave and dramatically improve overall communication.
- Money isn’t king. Cold, hard cash is nice, but it doesn’t assist withresolving the ever-present issues of work-life balance. In an environment that often requires long hours, weekend work and being on-call for nearly 24 hours a day, retaining employees and keeping them motivated requires a new approach. Some employees will always place a higher value on money, but a growing number will seek other incentives.Incentives such as increased or unlimited vacation time, pursuit of personal interests at the office – e.g. gym memberships, continued education, management of fantasy football teams, etc., and even the ability to engage in charitable efforts – will become more prevalent.
- Social media policies mature. Social media is everywhere, and we’ve witnessed countless missteps on social media that could get a user in hot water. This year, expect businesses to pay more attention to crafting clear social media policies to eliminate the ambiguity that may exist, allowing some gray areas – Can I tweet this? Is this Facebook post work acceptable? Where does corporate confidentiality end and appropriate social media communication begin? – to become more clear.
- Succession planning becomes a higher priority. As CEOs and other members of the leadership team continue to experience rapid turnover, which is inevitable in today’s business world, companies across industries will start becoming better prepared for these changes. Investment in succession planning is expected to rise, allowing companies to better manage and communicate change internally and externally.
- Workplace versatility becomes valued. We’ve spent decades preaching the value of specialization. The more specific, the more unique an employee’s skill, the more prized it seemed to be. That’s changing. Companies will begin to reward talent able to “wear multiple hats.” That’s because in a downsized business environment, employees simply must handle an increasing number of diverse tasks. Workplace versatility is becoming an asset, not a liability.
It’s also important to keep in mind the changing face of employees. Millennials entering the workforce are actively seeking career opportunities that offer broad and varied experiences.