Is Your Workforce Ready for the Digital Age?
Success in the digital age isn’t just hiring people with technical skills. It’s about instilling a mindset that embraces new ways of operating and rewarding behaviors that impact business performance. Watch our video to understand how your capacity for transformation depends on your people.
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It’s no surprise that technology is transforming every aspect of business – and HR is no exception. Digital transformation is changing how organizations operate and CHROs have an opportunity to lead the charge. Creating a workforce for the digital age will involve defining new jobs and career paths.
Designing the Jobs of the Future
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Assess the current state of your job architecture
Understanding how your current job architecture is structured will allow you to identify areas of strength and opportunity to present a compelling future that resonates.
Assess the current state of your job architecture
Assess the current state of your job architecture
Assess the current state of your job architecture
Stay current with new job market trends and skills
A recent report estimates that 85% of jobs that will exist in 2030 have yet to be created. Given the pace of anticipated change, it is important to stay up-to-date with what new skills and talent are needed to compete in this digital age.
Stay current with new job market trends and skills
Recognize that career paths aren’t always linear
Incorporating dual career tracks in job architecture – one for managing teams, the other for expertise – provides today’s talent horizontal and vertical career opportunities.
Recognize that career paths aren’t always linear
Provide flexibility within job functions and throughout the company.
Having a flexible job architecture ensures that your talent is responsive and accommodating – without the need to overhaul structure after every change. Adopting and maintaining a job system that supports a changing workforce are necessary to enable digital transformation.
Provide flexibility within job functions and throughout the company.
Review job titles and descriptions and update them regularly
Outdated job titles and descriptions can be confusing not only to candidates but also to clients, internal team members, and stakeholders. When it comes to developing job titles and descriptions, finding a balance between specificity and adaptability is key.
Review job titles and descriptions and update them regularly
Stay current with new job market trends and skills
Stay current with new job market trends and skills
Recognize that career paths aren’t always linear
Recognize that career paths aren’t always linear
Provide flexibility within job functions and throughout the company.
Provide flexibility within job functions and throughout the company.
Review job titles and descriptions and update them regularly
Review job titles and descriptions and update them regularly
The fusion of rewards, people analytics and performance drivers should be on the mind of every HR leader today. Companies that succeed will be those that develop sophisticated performance-based compensation models that strategically identify and elevate the workers who contribute the most toward the organization's growth.
Identifying and Elevating the Right People
Define what skills and types of talent is needed for business growth
Determine whether your current rewards program is incentivizing the behaviors you are looking to drive
Analyze outcomes against objectives
Ask your innovators what kinds of rewards drive performance
Understand what factors beyond pay make your company’s reward program unique
Talk to your people about rewards in a holistic fashion.
Measuring and Rewarding Performance
Accelerating performance in the digital age will require performance-based compensation models that strategically reward the workers who contribute the most toward the organization’s growth. Does your current rewards program incentivize the behaviors you are looking to drive? Are you analyzing outcomes against objectives? Finally, what kinds of rewards are going to drive the performance your business needs?
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Take the spotlight off money.
Create a rewards framework that enables you to compete for top technical talent.
Customize your rewards programs.
Benchmark innovative compensation and benefits practices for top tech firms. Identify competitive gaps and propose new reward program designs to be competitive without damaging internal equity.
Put the focus on giving employees something else that gets them out of bed each morning to do their job. What truly motivates them? What value do they get from their work? Tapping into what makes their work meaningful allows you to create rewards that speak to their values.
Total rewards includes everything an employee gets from their employer that they find rewarding. Knowing what is most important to employees should influence how you talk to them about total rewards
The days of just handing employees a gift card in an envelope are over. Companies are moving toward a much more flexible sense of the term "recognition" that will involve creating experiences and redesigning performance management and talent programs so they’re easier to follow and stick to over time.
There's Power in Your People
When it comes to building the workforce for the digital age, HR leaders are competing for a finite group of technical, creative and business talent. Having the right people is key to maximizing business growth and managing volatility.
— Michael Burke, CEO Aon’s Human Capital Solutions
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In today’s volatile and complex business environment, having the right talent proves to be more crucial than ever. Meet the changing expectations of your customers by hiring for the behaviors, skills and competencies that are needed to thrive in the digital age.
With the pace of innovation and changing job requirements, it will become more relevant to understand transferable skills. Measuring skills that are transferrable to new jobs will allow a company to adapt more easily to a changing environment.
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3 CORE COMPETENCIES THAT ARE TRANSFERRABLE
Agility
Learnability
Curiosity
Flexibility adapting to changing situations
Seeking continual self-improvement
Being open to change and novelty
*Source: HR Executive
Identifying and Elevating the Right People
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Biggest Challenges HR Leaders Face:*
Retaining key talent
Attracting and retaining diverse talent
%
32
%
27
Succeeding in the digital age means finding and keeping the right people for the future of your business – whether they are new to your organization or already call it home. However, finding talent, retaining employees and cultivating leaders are some of HR’s biggest challenges.
Rather than always looking externally, improving talent supply also means thinking about upskilling and re-skilling current employees. Modern assessment tools based on predictive analytics can substantially increase the odds of finding the right candidate for your current and future talent needs.
The companies that successfully make it through digital transformation will be those that strategically reward workers who contribute the most toward the organization’s success. This starts with identifying the innovators, the change agents and the highest performers within an organization and assessing the skill sets and behaviors they exhibit on a regular basis.
Measuring and Rewarding Performance
Once business objectives and employee attributes are connected, companies will have insights into:
Who is going to stay longer, be engaged and perform better
Who has potential to be a successful leader
Who will help future proof your business
Business
Objectives
Employee
Attributes
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Maximize performance with your
Rewards Program
Drive your talent strategy with
Talent Assessments
Talk to an Expert
Talk to an Expert
Talk to an Expert
Explore our Human Capital Insights
Talk to an Expert
Explore our Assessment Insights
Talk to an Expert
Talk to an Expert
Talk to an Expert
Talk to an Expert
Explore our Human Capital Insights
Explore our Rewards Insights
Explore our Rewards Insights
As digital transformation influences the way businesses operate, CHROs can shape a new approach to build the workforce for the digital age by pulling two levers.
To build a workforce that ignites innovation and meets the changing expectations of customers, organizations must connect their business strategy to their talent strategy.
Determine whether your current rewards program is incentivizing the behaviors you are looking to drive
Analyze outcomes against objectives
Ask your innovators what kinds of rewards drive performance
Understand what factors beyond pay make your company’s reward program unique
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