Next (Big) Shifts & HR Leaders' Challenges

Socio-economic realities shape consumer behaviour, in turn it shakes up the business practices, & effects in its wake a redrawing of Organisational choices/ designs---- always a ripple effect. The interconnectedness of our time, facilitated by the spread of the internet & social media too is impinging on business patterns with unprecedented vigor.

Some trends I am sharing  which will shape management paradigms in coming years(followed with why of it) . For HR Leaders accordingly the challenges / strategy & action will revolve around these changes. 

This is my opinion pl share yours & be generous in comments for making me & HR community wiser...

Think Vernacular-( Why) Internet users in India could increase by 25% if local language content is provided on the internet.

Relationship Building- The proliferation of social media has effected a massive power shift towards customer & the upshot - no organization without a well-established customer connect can aspire to lead. Bonds will bind...

Cause Marketing- Nine in Ten in global consumer are as they were in 2012. Likely to switch brands to one associated with a good cause. Given a comparative price & quality

Crowdsourcing- By 2018 half of the consumer goods manufacturers will achieve 75% of the consumer innovations & R&D capabilities via crowdsourcing. this is the power of the crowd. eg crowdsourcing of software engineers from India led to success of Silicon Valley - a well known fact.

Internet Of Things (IoT) - the arrival of connected age. The IoT which excludes PCs, Tablets, & smartphones will grow to 30 billion units installed. In 2020 representing almost 30 fold  increase from 0.9 billion in 2009.The IoT will take us all the way ; or as far as you plan to go.

Co working Spaces- Everyday work process has to be about thought sharing. Democratizing the idea of genius to innovation sharing. Hence, the need for environments where working together is about sharing life experiences as much as design & thinking processes. To channelize loitering  craftsmen.

Sharing Economy- The Global sharing economy market was valued at $ 26 Billion in 2013 & some predict it will grow to become a $ 120 Billion revenue market in the coming years, The business of sharing will be really meaningful.

Flatter Organizations-  Silo bursting - an effort to leverage expertise & experience across functions - will be imperative to excel in an increasingly competitive world. This will blurr the boundaries.

Word of Mouth Wire- a study speaks -84 % of global respondents in 58 countries said in a Nielsen online survey that word of mouth  recommendations from friends & acquaintances / family source were the most trustworthy & vice-versa equally damaging.

                                           -------------x-------------