There is no doubt that the Core Human Resources function plays a critical role in enabling organizations to capture, track, and manage employee data in a structured “system of record”. The somewhat unrealized value proposition behind these systems is their promise to arm leaders with the insight and information to make better business decisions. To fully realize this potential, we need to think differently about Core HR. And this imperative is more important now than ever before.
Business trends are changing fast, forcing a re-examination of the status quo when it comes to managing a company’s most important resources: its people. According to the Oxford Economics Workforce 2020 report, five generations of workers now make up the world’s workforce. Each generation holds its own unique needs, motivations, and expectations of their business leaders, HR department, and peers. Further, according to IRS data, 34% of the U.S. labor force in 2015 was composed of independent contractors; that’s expected to jump to more than 50% by 2030.
This means that managing and engaging both payroll employees and external workers as part of a total workforce perspective is not just a nice to have, it’s a must have. Core HR must continue to provide a strong system of record and self-service engagement while expanding its influence, impact, and using business and workforce trends for competitive advantage. Moving forward, core HR executives and professionals have an opportunity to accommodate and capitalize on the diversity of today’s global workforce from one central system.
The future of work has already started; shouldn’t what you have come to expect from a Core HR and the systems that support this evolving function change too? Join me at session LB33931 Uncover the Flexibility Available in Modern Core HR Processes, at SAPPHIRE NOW to share your thoughts and experiences about:
- Upcoming workforce trends that will most impact Core HR’s ability to manage a global workforce
- If and how the function of Core HR should change in the next five years to meet emerging workforce complexities
- How Core HR professionals enhance value-based relationships throughout the business
- Evolving Core HR evolve from transactional to transformational
Fueling our lively discussion, attendees will hear about trends related to the emerging role and challenges facing CHROs and implications to Core HR, shifting workforce dynamics, and why focusing on enabling value-based relationships is the future of core HRMS.