If the 2010s have taught us anything about where HR is headed, it's that you can never expect things to stay the same for long. Over the past 10 years, we've seen HR's concern with employee productivity pivot to employee engagement, and then to employee contact list employee well-being and employee experience. Performance reviews were dead, so they weren't. Google entered the recruitment market, threatened to upset it, then left. So it would be a wild ride to try to predict, with any accuracy, what will happen to employee contact list HR in the coming decade. It would be even worse if the person making.
The prediction ever wrote an article claiming that Netflix was on the verge of bankruptcy (it's a true story, but in my defense, it was the employee contact list days of Qwikster). While the “talent wars” of the past decade may have been a hyperbolic phrase, there's no denying that companies were willing to spend a lot of money on the problem to emerge victorious. Yoga retreats, free massages, catered meals: you name it, there was a company offering it to employee contact list attract and retain top talent. But change is on the horizon. The US Federal Reserve now estimates that there is a 38% chance of an economic recession.
In August 2020, and the likelihood of it happening only increases from there. When a recession hits, HR will have to employee contact list make big changes, starting with cutting back on those expensive perks and perks. On the one hand, workers don't place much value on many of the employee contact list frivolous perks. While 88% of job seekers prioritize essential benefits such as health care and PTO when looking for a job, less than a third care about things like scaled pensions company and free gym memberships. They're just not the great talent attractors and retention companies hoped they would be.