Freelance Economy and Technology Innovation Will Continue to Transform Workplaces in 2017

March 15, 20178:45 am434 views

The growing role of contingent workforce and the expanding role of technology to connect talent with employers are two key talent trends set to shape 2017, according to the latest Randstad Sourceright Talent Trends Report under the theme “Beyond the Limits: the New Frontier of Talent.”

Companies need to embrace a holistic approach to workforce management, as talent becomes increasingly mobile. Technology has transformed the economy and many different industries, and this is no exception in the world of work.

According to the report, 79 percent of respondents say technology adoption in their companies has enhanced the attraction, engagement and retention of talent. Technology advances have also allowed buyers to connect with talent more easily and more workers are choosing to be independent. 70 percent of human capital leaders surveyed note that utilising freelancers is influencing their business.

“Asia remains one of the world’s fastest growing regions, and it is crucial for organisations to have the right talent and workforce strategies to help drive the business forward in this dynamic region. On the other hand, the changing economy and technology disruption mean that there are no limits to how organisations use talent,” says Roop Kaistha, Regional Director – Client Services, Asia Pacific, Randstad Sourceright.

Top 10 talent trends in 2017:

  1. Talent Mobilisation: With the growth of gig work, proliferation of technology and falling geographical barriers, organisations should reconsider how they access, win and manage talent.
  2. Robots in the break room: Robotics and automation are transforming the workplace and changing the way business gets done; companies need to find new skill sets to administer and maintain the digital workforce.
  3. Insight-driven Organisation: With more market and business data being created every day, human capital leaders should invest in talent analytics to enhance the way they source, attract, engage and retain talent.

See: Top 5 Consideration for Businesses Hiring Freelancers in the Gig Economy

  1. The Freelance Economy: The rise of the freelance economy offers employers a cost effective way to access a wide array of skills, but it also presents a challenge on how to effectively integrate independent workers with other permanent and contingent talent.
  2. Millennials in the Workplace: Millennials are poised to create positive impact on corporate values and work habits. However, their lack of leadership skills and loyalty remains a concern for organisations.
  3. Embracing Technology: Technology adoption has advanced talent innovation and it is important for organisations to determine the right amount of investment and choose the right innovation among sea of HR-related solutions in the marketplace.
  4. Integrated Talent: An integrated talent approach can transform the way employers engage and manage talent, and save an organisation as much as 12% in overall recruitment costs.
  5. Employer Branding: An effective employer brand helps to get star performers to join a team, and it cannot be done without defining the employee value proposition.
  6. HR Digitalisation: Digitalisation continues to elevate the HR function to become more forward-thinking, agile and perceptive, and enables HR to fulfil its role as a business partner.
  7. The Agile Workforce: Contingent talent is now an indispensable part of many business models; organisations need a game plan to maximize the value and impact of flexible talent.

“Human capital leaders need to stay current with the forces that are shaping the workforce when they plan their resourcing strategies, and be creative when considering how best to access and leverage all the potential resources. Being able to navigate the complexities in today’s world of work and adopt a holistic approach to workforce management are imperative to ensure that organisations stay ahead of the competition,” Kaistha added.

Also read: Future of HR: Predicting Top 10 Talent Trends in 2017