Today’s business world is operating in a highly dynamic and fast-paced environment called the VUCA World. The acronym stands for Volatility, Uncertainty, Complexity and Ambiguity. This complex flux can be attributed to geographic, economic, political, demographic, technology and many other paradigm shifts happening across various industries.
Traditional recruitment and hiring practices are becoming strategic, pro active and agile. Talent acquisition team need to prioritize requisitions, use growth-hacking techniques to source and assess talent, use visual boards to foster transparency, operate as collaborative partners and retrospect for continuous improvement.
Many companies are adopting agile methodologies to manage their projects – shorter cycle projects and multiple managers. Hence, annual performance appraisal management is no more Relevant and companies need to adopt an ongoing and iterative performance feedback cycle.
Learning & Development (L&D) is becoming agile and learning in sprints is becoming a norm. Curated content, online/video learning, design thinking principles and data analytics are being used to foster microlearning and learning agility.
Deloitte Human Capital Trends Report 2018 highlights the importance of transitioning from conventional standardized rewards to a more personalized and agile rewards. Research by Globoforce explicates that employees who receive regular small rewards are eight (8) times more engaged than employees who receive annual raises.