The workplace has undergone significant transformation in recent years, starting with the adoption of hybrid work at the center of discussions. The generational shift, as baby boomers retire and younger generations step in, combined with the integration of new technologies like AI, has forced a reevaluation of work methodologies and interactions. While these changes may seem overwhelming, the key to a successful transition often lies in employee feedback.
This past week, the Explorance Impact Tour in Montreal gathered HR professionals for a full-day event focused on the pivotal role of Feedback Analytics and AI in achieving HR objectives.
What is the Explorance Impact Tour?
The Explorance Impact Tour is a global event held in cities worldwide, including Montreal, Chicago, Ann Arbor, DC, London, Edinburgh, Manchester, Paris, and more. This event is designed to foster discussions and presentations on the significance of Feedback Analytics and AI in shaping the future of HR.
Designed explicitly for Chief Human Resources Officers, VPs of HR, Directors of Talent Management, and Employee Experience at large enterprises, this recent stop highlighted the use of employee feedback from various sources (360 degree reviews, employee engagement surveys, learning evaluations, etc.) to address critical HR priorities. In this blog, we explore six key takeaways to drive change within your organization.
1. The Future is Now: Embrace AI and Feedback Analytics
The future is already upon us, and staying ahead of the curve is imperative. Statistics presented at the event show that 76% of HR professionals anticipate falling behind if they fail to incorporate AI into their operations within the next 12-24 months. Moreover, 85% of the jobs expected to exist by 2030 have not yet been created, and the World Economic Forum predicts that by 2027, one out of every five jobs will undergo radical transformation due to new skills and evolving requirements. This underlines the need for adaptability and forward-thinking.
As part of the agenda, Explorance CEO Samer Saab offered attendees an in-depth demonstration of Explorance MLY – the AI-powered Voice of the Employee. As part of the company’s next-generation Feedback Analytics offering, Explorance MLY is the only AI solution on the market intended for HR leaders and administrators trained to analyze data from any source (internal surveys, site reviews and social media) in terms they can act on quickly.
2. The Skill Gap Needs to be Addressed
Bridging the gap between existing employee skills and those required for future jobs is crucial – by 2025, half of employees will need reskilling to meet the changing workforce’s demands. In her presentation titled “Redefining Talent: Exploring the Skills Gap,” Explorance CIO Shawn Overcast explained that it takes seven years to recover the skill gap left by a departing employee, emphasizing the importance of internal skill development and retention strategies.
Closing this global skill gap could add an estimated $11.5 trillion to the global GDP by 2028. During her session, Shawn shared examples of how HR and L&D leaders can measure and gain richer, deeper insights into the skills gap.
- Conduct a comprehensive assessment of your organization’s current skillset and identify gaps.
- Get information on how to ensure curricula and learning plans are designed to improve the skills of your workforce.
- Understand the role of technology in identifying, reducing, and preventing skills gaps using automation and data analysis.
3. Data Is an Engine of Success
In the modern landscape, data is the new driving force for innovation and progress. The adage “never enough data” holds true; we can always learn more. While AI plays a significant role, it can’t fully replace human insights and understanding, making careful data analysis essential. Innovative tools like Explorance MLY can assist in translating employee feedback into actionable insights, driving impact and change.
4. AI’s Role in Human-Centric Work Environments
The interaction between artificial intelligence and human workers is central to the evolving work landscape. However, AI can’t entirely replace human interactions, and the absence of face-to-face connections can impact talent management. When viewed as an augmenting force and not a replacement for human capabilities, AI has the potential to make work more human.
5. Think Outside the Box
Thinking outside traditional approaches is critical in today’s evolving work environments. Career progression is shifting from the traditional “Ladder” model to a more dynamic, exploratory, and horizontal approach. As 57% of employees seek training and skills development outside their organizations, we must reshape job roles to align with individual strengths, creating hybrid positions tailored to unique skills rather than experience or education.
6. Invest in Your Leaders
Leadership development is vital for fostering an innovative work culture, and reevaluating traditional management models is essential to adapt to the changing workforce. Continuous learning and embracing a culture of knowledge pursuit are crucial, and leading by example and being open to feedback is essential for effective leadership. Transparency and acknowledgment of not having all the answers create an environment of trust and authenticity.
As we contemplate these changes, we must remain open-minded and understand there’s no one-size-fits-all solution. Each individual is unique, and while standardized approaches provide initial guidelines, adaptation to the diverse talents within a team is vital. Transforming discussions into tangible actions ensures progress in the right direction.
AI•Employee engagement•Explorance Impact Tour•Human resources•Voice of the Employee•