Key Challenges for Human Capital Development in the New Normal
Technology has provided a lifeline for working during the COVID-19 pandemic. But a new report from the Taplow Group shows that isolation has also presented its share of difficulties. Rising retirements, the need for new training programs and declining employee engagement are just a few of the hurdles companies have had to overcome over the past two years.
June 8, 2022 – Human Capital Development had to go through major overhaul and upgrades to adapt to the new post-pandemic normal world. New training tools and models have been formulated to respond to human capital development, according to a new report from the Taplow Group. “New training tools and models were formulated to respond to human capital development as we entered this uncharted territory of working in the midst of a global crisis,” the report said. “This global crisis has impacted several economies around the world and brought about major changes that will continue to shape the way we work for times to come.”
Technology has become our primary source of survival during the crisis, as it has played a key role in keeping us well-connected during times when we were all rounded up in our homes, according to the Taplow Group report. “Technology has also ensured that work from home cultivation is seamlessly integrated,” he said. “Human capital development also benefited greatly from this transition, as employees could access training programs at their convenience. All this time spent in isolation has also opened a new window of personal development and improving his skills. People learned new skills while sitting in the comfort of their homes. »
But the research firm notes that there are two sides to every coin: Social isolation has had a huge impact on the education and training market. People have developed career anxiety and their mental health has plummeted under the pressure of a poor work-life balance. The lines quickly blurred when it came to balancing work and personal life as there were literally no walls between our offices and our living rooms.
Changing organizational priorities for human capital development
According to the LinkedIn Learning report, this crisis has been a key driver of change and has accelerated learning. The priorities of organizations have changed and the focus on human capital development has been increased as they need much more skilled employees. “This has led to increased investment in human capital advisory services,” the Taplow Group report said. “Employees at all levels feel the constant pressure to constantly improve and surpass themselves.”
Increased need for human capital advisory services
Many senior executives could not handle the pressure and decided to opt for early retirement amid the crisis, which posed the challenge of replacing them quickly and finding talent that could lead everyone into the right direction, said The Taplow Group. This has increased the need for human capital advisory services.
Changing the learning environment to support human capital development
Classroom training and learning programs have been moved online. No one was prepared for it and several changes had to be made to existing learning strategies, including the drastic shift to digital learning. Zoom calls are part of the new normal and virtual training seems to be here to stay. “Even though technology has been our savior through this, it is not cheap and such rapid development of human capital has come at a high price,” the report says. “Those who faced technological challenges had no way out and had to upgrade their skills quickly to keep their jobs.”
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There has also been a significant drop in employee engagement and the work-from-home culture has somehow led to higher levels of fatigue. The Taplow Group says employees burn out quickly and human capital development efforts have had to be refocused on tackling these new challenges. People feeling isolated while being isolated was a given and it was difficult to create a lively and exciting work environment via screens.
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“As we navigate through this crisis and its endless new twists, every organization struggles to find their new normal,” the Taplow Group report said. “Some are trying the hybrid route; some have become far too comfortable with working from home to go back. Achieving organizational goals in these difficult times requires agility. »
5 Ways to Drive Employee Development Programs
The modern workplace has become dynamic and is shifting from an employer-centric ecosystem to an employee-centric ecosystem, according to a separate report from the Taplow Group. “This means that employers cannot take employee loyalty for granted,” the study said. “CEOs and business leaders need to identify ways in which they can carry out employee development programs. It takes a lot of thought and brainstorming to develop a well-tailored and sustainable employee development strategy. »
The Taplow Group provides strategies to drive employee growth and development. Let’s take a closer look:
1. Understand goals and aspirations
With the remote and hybrid mode of working, communication has become an essential cornerstone of employee engagement. “Leaders need to have one-on-one interaction with their staff and understand their career goals and aspirations,” the report says. “At the same time, help them identify milestones in their professional journey and provide them with the resources that can support them on this journey. This way, your employees would feel valued, which would translate into greater loyalty and productivity. »
2. Organize training programs
Once you have identified and prepared a career plan for your employees, you now need to organize training sessions to help them develop new skills and competencies. “These programs need to be organized at both the group level and the individual level,” the Taplow Group said. “With virtual learning, attending seminars, conferences and video conferences has been very easy and employees can learn at their own pace. Also, be sure to help your staff keep up to date with what is happening. going on in the industry and sharing the learnings with the broader audience of the organization.”
3. Job rotation
Variety is the spice of life, and that’s especially true for your workforce. “Try to rotate your employees in different roles, perhaps within the same department or business unit,” the study said. “It would help them develop new skills, take an active interest in work and appreciate the work done by their colleagues. Job rotation will not only increase employee productivity, but will also promote greater collaboration within the organization. »
4. Support work-life balance
Almost all CEO certification programs will now emphasize work-life balance. The past two years have highlighted the importance of mental health, time spent with family, and time devoted to hobbies and interests. “As a manager or CEO, you need to make sure that your employees don’t burn out on the job and are encouraged to take time off, spend time with family, or pursue whatever hobbies they their choice,” the report said.
5. Create and share succession plans
Every employee wants to see themselves move up the ladder. Therefore, create a succession plan and show your employees how you intend to involve them in the direction of the organization. “CEO recruiters focus a lot on the ability to develop succession plans for today’s CEOs,” said The Taplow Group. “This will ensure that your employees take more interest in their work, business activities and align closely with the mission and vision of the organization.”
The study states that “employee development programs give employees something in return for their work and services. A well-thought-out plan can result in tremendous productivity and loyalty from your employees. »
Related: Future Outlook for Engagement, Retention, and Communication
Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media