Here are three major problems that any HR professional must face in today's society. And more on Recruiting and Retaining Talent in the Gig Economy.

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Three Key Challenges HR Professionals
Face in a Changing World
Take the Advantage
Business magnate and founder of Virgin Group, Sir Richard Branson, once said,
"Business opportunities are like buses, there's always another one coming."
Indeed, this quote aptly illustrates today’s business environment. In a fast-paced
and often cut-throat world, opportunities, like buses, tend to come and go. The
question for businesses today is how can they can leverage upon the prevailing
circumstances to take advantage of these opportunities. In order to capitalize on

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every occasion, and minimize opportunity costs, organizations have to be on
their toes and be proactive.
The role of HR
In this fast-changing business world, HR’s prime objective remains the same, to
be the backbone of the organization empowering their employees and business
to grow. How should they continue in carrying out this objective considering the
current business climate? Below are 3 key issues for HR Departments to look out
for and resolve so as enable them to continue empowering their organizations to
grow successfully.
The 3 Key Challenges
Challenge 1: Recruiting and Retaining Talent in the Gig Economy
The "Gig Economy" has been increasing in popularity in recent years. It is when

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workers choose to work contract and freelance work as opposed to traditional
permanent jobs. A recent report by McKinsey found that knowledge-intensive
industries and creative occupations are the largest and fastest-growing segments
of the freelance economy. With workers nowadays tending to "job-hop"
frequently, an issue of retaining the best talent has arisen.
Solution: In order to retain gig employees, HR needs to develop a sense of
loyalty in them towards the company. For instance, providing company benefits
to them – such as covering a certain percentage of their medical fees incurred.
By treating them as one of the company’s own, gig workers would feel a sense of
loyalty towards the organization. As such, they are more likely to return at any
given chance. According to MetLife, 43% of gig workers indicated that attractive
benefits would lead them to seek a full-time position, while 29% said that they
would be compelled to stay if attractive benefits were offered.
Benefit: Retaining talent will help companies to maintain and develop their
dynamic capabilities to ensure that they remain firm in the face of adversity.
Additionally, by retaining talent, companies will not be required to source for
additional workers, thereby saving on recruitment costs.
Challenge 2: Resolving Generational Differences
According to the Manpower Group, there are 4 different generations (Millennials
35%, Gen X 35%, Gen Z 24%, Boomer 6%) across the global workforce. This
represents 4 different ways of thinking which could lead to clashes in ideology at

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the workplace.
Solution: To resolve generational differences, encouraging a culture of open
communication is necessary. To do so, leaders and Human Resources personnel,
should support one another and create an environment that allows their employees
to freely express their feelings and points of view. All too often, employees keep to
themselves whenever they feel aggrieved, building up feelings of anger and
resentment. By encouraging open communication, workers will be empowered to get
to know each other’s motivations and workings styles, thereby building a united
workforce for greater efficiency.
Benefit: With open communication enabling a harmonious workplace to be
established, generational differences can be set aside and colleagues will be
empowered with greater experiences and flexibility to overcome diverse challenges.
Challenge 3: Ensuring Job Security in the Age of Automation

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The rapid development of technology has resulted in many jobs being made
redundant by automation. It is estimated that as much as 14% of the global
workforce will be affected by this change, with 20 million manufacturing jobs
estimated to be lost to robots by 2030. This slow change towards this projection has
left many employees worried about job security and anxious about the future of their
careers.
Solution: The good news is that not every job can be replaced by technology.
Artificial Intelligence (AI) and robots lack the emotional capacity to deal with
complex situations, as such, developing the capabilities of human workers is still
necessary. By sending employees for various upskilling courses, strong returns

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on investment can be gained in the form of bridging skill gaps present in an
organization while cultivating employee loyalty.
Benefit: By addressing the issue of automation, businesses will have a greater
wealth of options available to overcome obstacles to ensure that they continue to
strive and succeed.
In Essence
The above challenges may sound daunting, however, in rising to the challenge,
as an HR Professional you can empower your workforce not only to be equipped
for today’s challenges, but for the challenges of the future.
And if you need that extra boost to strengthen your HR department, why not try
out QuickHR With great modules like our award-winning Leave management
system, Applicant Tracking, and Payroll systems amongst many other multi-
faceted modules, rest assured that even the most tedious of HR processes will
be made easy.
Once again, we hope that you’ve enjoyed a good read. And remember, Think
Now, Think Far, Think QuickHR.
* Get in touch with us at https://quickhr.co/ or request a Free Demo to find
out more about our state-of-the-art HRMS solution!

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