Leaders across the world are optimistic about the future of their organizations – that’s according to new research by Ceridian.
85% of the 2,000 global leaders surveyed by the HCM (human capital management) giant were confident in their company’s ability to achieve its goals this year – 75% believe there will be strong revenue growth.
Despite this optimism, there is some doom and gloom. 92% of employers are still grappling with challenges, which will impact their ability to achieve their goals.
While there has been some progress, these issues are largely the same challenges they were struggling with in 2020.
The report stated: “Leaders are still grappling with pandemic workforce challenges, while also navigating new ones stemming from the current economic climate.”
They are facing a “growing complexity crisis…fueled by the velocity of compliance changes, the explosion in types of work and workers, the increasing impacts of AI automation, and expanding employee expectations”.
It’s time to modernize HR
Organizations need to realize they cannot overcome these ongoing challenges with the same approaches they took in 2019 – they need to shift their mindsets, as well as embrace better tools.
They need a modern talent strategy that rethinks and prioritizes internal mobility, and uses tech to do so.
Leaders have gotten stuck in the view that internal mobility means promotions – but it is more than that.
Talking exclusively to UNLEASH, managing director, EMEA, at Ceridian, Wendy Muirhead, shares: “With tight labor markets meaning many organizations are struggling to fill skills gaps, using technology to identify suitable internal candidates for open roles is a win/win.
“The candidate benefits from the opportunities presented by a non-linear career path – which can also aid talent retention – and the organizations fills a role with a known strong performer who can quickly grow into a new position.”
AI has a particular role to play, according to Muirhead.
The good news is that employers are very keen to embrace AI – Ceridian’s research from that eight in ten are already using AI tools to automate repetitive tasks, and three in four see the productivity and efficiency gains.
Muirhead is clear “AI is not a panacea and it will never replace people strategy”.
However, she concludes: “We are seeing AI being used to enhance people strategies as part of a technology-driven approach. Increasingly businesses and leaders are realizing the benefits of investing in both people and technology in complementary ways.
“Our survey evidences the confidence that flows from this approach, as leaders find that investing smartly helps organizations meet their business and people goals to deliver resilience and growth.”
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