Employers able to remain agile and respond to shifts in employee needs will be in a good position in the war for talent, as Ryu notes.
But as the research shows, making time to address these issues and adopt programs is difficult for HR professionals who also are coping with day-to-day operations. Still, HR’s strategic role is expanding and leaders will have to find a way to reduce administrative tasks. More are leaning on technology to do the heavy lifting, while others have turned to outsourcing. In fact, the global multi-process HR outsourcing market will enjoy significant growth in the coming years, exceeding $5 billion in 2020, the Everest Group predicted earlier this year. Similarly, employers are increasingly outsourcing leave administration; roughly half of large employers do so, according to the Disability Management Employer Coalition. Moreover, more than 80% of the organization’s survey respondents consider their programs to be co-sourced — up from 48% last year.
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