Top 3 Challenges for HR Professionals Over the Next 10 Years
Top 3 Challenges for HR Professionals Over the Next 10 Years

Top 3 Challenges for HR Professionals Over the Next 10 Years

HR professionals are more concerned than ever about retaining top talent and planning for the next generation of leaders. In SHRM’s Future HR Challenges survey, HR professionals were asked about the biggest challenges they would be facing ten years from now. Here are the top three responses:

  1. Retaining and rewarding the best employees
    59% of respondents ranked this factor in their top three challenges, compared to 51% in 2010. As organizations face a growing shortage of talent, holding onto the most effective and high-performing employees will become even more critical.

#2 Developing the next generation of corporate leaders
52% of respondents indicated this factor was a concern, a significant increase over 29% in 2010. The workforce is aging at a rapid rate, leading many HR teams to consider putting formal plans for succession in place and to begin shifting the focus to developing future leaders.

#3 Creating a corporate culture that attracts the best employees to the organization
36% of respondents had this factor in their top three, a moderate decrease from 44% in 2010. Organizations are often competing with one another for the same talent, so having a strong culture that draws in good people can be a major point of differentiation for employers.

The research also uncovered top talent management tactics, investment challenges and what core competencies will be critical for HR teams. In terms of HR investment challenges, the struggle to obtain and optimize investments in technology is not new—but it is growing. The percentage of HR professionals who see this as a major challenge has grown 72% since 2010.

When it comes to HR competencies that are expected to be critical ten years into the future, the top choice was business acumen. HR professionals indicated that the most important aspect of business acumen was understanding HR and organizational metrics, analytics and business indicators. This tells us that organizations are expecting HR to be more strategic and more attuned to the pulse of the business.

HR professionals are facing many challenges, and will continue to face them in the years to come. They are being asked to attract and retain top talent, plan for the future of their organization and take a more strategic approach to their function, all while dealing with technology investment challenges. Paycor’s HR technology helps streamline administrative processes, enabling HR to focus on strategy. Our reporting application also allows organizations to analyze valuable employee data and drive decision-making. Learn more by getting in touch with a Paycor representative today.

Source: SHRM

More to Discover

Case Study: Buy Sod

Case Study: Buy Sod

Buy Sod Inc. Partners with Paycor to Pay Employees & Maintain Tax Compliance “Because we’re a niche company, our administrators sometimes have trouble uncovering and implementing best practices. But when we partnered with Paycor they brought the expertise and thought leadership to help us overcome tough challenges like the new EEO-1 report. Paycor has the patience, knowledge and resources to help us stay ahead of problems and grow.” - Jennifer Hillard, Director of People and Culture Why Buy Sod Inc. Chose Paycor In 2002, three family businesses came together to create a network of sod farms that operate and distribute around the country. But with ten locations and eighteen different payrolls to process, Buy Sod Inc. struggled to...

Achieve Your People Management Goals

Achieve Your People Management Goals

People management is at the heart of everything you do. But it’s easy to get overwhelmed with the day-to-day tasks necessary to keep your business running. We can help you get out of the weeds.Paycor’s core HR solution for all employee data dramatically reduces admin—you’ll never have to switch platforms, log-in to multiple systems or re-key information. We build HR software for leaders who want to make a difference. For 30 years, we’ve been listening to and partnering with leaders of medium and small business, so we know what they need.We’re here to help you build a great place to work, where people thrive and grow. Let’s get started! Take the People Management Benchmark Quiz

Webinar: Are you Scheduling Like a Pro

Webinar: Are you Scheduling Like a Pro

Our best-in class Scheduling solution coupled with Paycor's expertise and insight will allow you to take your scheduling solution to the next level - increase productivity, track labor costs and engage employees with Paycor Scheduling.Speakers: Rob Whitworth and Lyle WeissingerRob Whitworth is a Principal Product Manager for Paycor's Perform Time solution. He has been with Paycor since 2013 and has been in the time and attendance industry for 17 years.Lyle Weissinger is a Senior Product Marketing Manager for Paycor's time solutions.

How Paycor’s Restaurant Scheduling App Can Help Your Business

How Paycor’s Restaurant Scheduling App Can Help Your Business

The Most Effective Restaurant Scheduling Tool Paycor’s restaurant scheduling software makes it easy to ensure you always have your key people where you need then, when you need them. Create efficient schedules faster than ever, inform employees immediately, and empower staff to collaborate and swap shifts to solve scheduling issues. Everything in One Place: How can Paycor Scheduling help your restaurant? Effective staff scheduling is vital for any restaurant business to succeed. Managers have enough on their plates, even without keeping track of employee availability and trying to please everyone—waiters, chefs, hostesses and bartenders—with perfect schedules. Paycor Scheduling helps managers save time and money, by creating efficient...