Top Five 2015 Workplace Trends from The Workforce Institute at Kronos
January 16th, 2015 at 12:48 pm
CHELMSFORD, Mass., Jan. 13, 2015 – At a recent board of advisors meeting, members of The Workforce Institute at Kronos Incorporated discussed the top issues they believe will impact the world of workforce management in 2015. Individual board members also recorded personal predictions that will affect their respective industries. The Workforce Institute will host a Tweet Chat on Thursday, Jan. 22 from 12:00-1:00 p.m. ET to discuss 2015 workplace trends and predictions.
Top Workplace Trends for 2015
- Regulations Shake up the Workplace: Minimum wage law changes and looming U.S. Affordable Care Act deadlines dominated 2014 headlines, but 2015 is when organizations will feel the impact of these and many other regulations. Additionally, with continued public discourse on non-exempt workers and topics surrounding a living wage, new legislation is expected to arise in this final term of the Obama Administration. With today’s regulations administered not only at the national and state levels but down to the city, municipal, and individualized union levels, new compliance requirements will shake up processes for organizations while adding another layer of complexity for national and multinational organizations.
- Employees are an Asset: Despite increasing healthcare and labor costs expected through 2015 and beyond, profitable organizations have learned thatexcellent financial returns do not have to come at the expense of the employee. Research shows that employees – especially the front line, hourly workforce – should be seen as an asset, not a cost. As competition tightens, successful organizations will invest more in their workforces to increase employee engagement and create a virtuous cycle that leads to happy customers.
- Seismic Shift in Generational Workforce Dynamics: Baby Boomers – the largest generation to ever hit the workforce – will begin retiring in droves as their children take on more workplace responsibility. As Baby Boomers exit the workplace, many Generation Xers could see increased opportunity, including long-awaited pay raises. Millennials will take on management positions for the first time. Talent retention and career development will be key in 2015 as organizations train new managers while working to simultaneously shrink the skills gap and hold onto the knowledge assets of a retiring workforce.
- Analytics for Evidence-based Decision Making: Most organizations drowned in data in 2014, as few have unlocked the secret to analytical success. However, organizations that have lagged behind will take notice of winning big data best practices from previous years, while workforce management tools will deliver analytics for evidence-based decision making in 2015. Industry-specific solutions, visualization technology, and new applications from specialized consultation and services vendors will utilize existing workforce management data to create actionable insight.