Any business that wants to realize success has to properly manage resources. Human resources, or HR departments, are in charge of managing employees. This means, first and foremost, handling the nuts and bolts of a workforce, such as workforce forecasting, setting schedules, and making sure workers are showing up, leaving, and taking breaks on time.
However, it also involves interacting with workers, and increasingly, making sure they are properly integrated into the company culture, that their needs are being met, and that there is a focus on employee engagement. If employees drive productivity, keeping workers happy and morale high is essential, as many companies are beginning to discover.
Increasingly, trends in HR management tend to include relevant technologies. Most companies are already using some form of human resources software to, at the very least, track attendance. The landscape for HR management is changing in leaps and bounds, though. Companies looking to remain competitive need to stay in the loop and understand which advances are going to best serve their needs and the needs of employees.
If your company is looking to revamp the HR department and create a modern workplace, here are just a few trends in HR management you should be aware of.
Changes Related to Final Rule
President Obama called on the Department of Labor to update the Fair Labor Standards Act in order to bring it in line with modern realities regarding white collar workers. The result was the final rule, which goes into effect December 1, 2016.
Under this ruling, workers earning less than $913 per week (or $47,476 per year) will no longer be considered salaried workers and will therefore be eligible for overtime pay (for hours exceeding 40 in a given work week). This raises the standard definition of a salaried employee from the previous minimum of $455 per week (or $23,660 annually).
Other rules apply, as well, including plans for incremental increases over time.
However, the immediate concern for many employers will now be ensuring that workers who are currently considered salaried (and therefore ineligible for overtime) are not working overtime once the Final Rule goes into effect and they are switched to hourly status.
Some employers may also choose to bump up wages as a result of this ruling. The use of appropriate HR analytics software to track the effects of changes may well have an impact on how businesses choose to react in light of changing standards for overtime pay.
Addition of Biometrics
Very few employers continue to rely on traditional punch cards to track employee hours these days. Many now use keycards as a means of tracking employees clocking in and out since this digital information is more accurate and easier to track and manage.
Of course, employees can still cheat the system by having coworkers clock in or out on their behalf. So some companies are making the switch to a biometric time and attendance system that ensures no one can cheat.
Upgrades in Data Collection
Workforce trends can be difficult to track. Simply using data collection software to manage scheduling and track attendance is no longer enough. HR data collection software needs to include analytical information that helps employers determine how best to compensate employees, keep them engaged, and even recruit new hires. It may be difficult to believe, but there are definitely programs for HR that deliver the information needed to track and analyze the workforce in this way.
Upgrade to Integrated Workforce Management
These days, no department is an island. All corporate departments including HR need to pool data in order to best keep tabs on productivity, morale, and overall performance.
An integrated workforce management system allows HR to share information not only with payroll, but also with IT, legal, and other departments, as well as executives. This shared system ensures that everyone involved in the process of managing employee productivity and fair treatment has the data needed to make decisions regarding the workforce, as well as individual workers.
Catering to Millennials
The workforce is changing in response to the growing demands of millennials. Many millennials prefer to work remotely, work on their own schedule, and work for companies that care about them, for example. These employees want to be creative, they want to be challenged, and they want to take pride in their work.
Finding ways to recruit these employees and keep them engaged has become a major focus for many companies, and HR departments in particular. With traditional workers aging out, catering to millennials is sure to become even more important in the coming years.