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3 Ways Businesses Can Get Ahead in 2021 and Beyond

In 2020, the focus for some companies was survival. As the workplace continues to evolve with new, unique challenges, it’s important for businesses to shift their focus to adapting and innovating for 2021 and beyond.

Below are three ways businesses can get ahead in the new year.

Ditch outdated processes

The digital transformation has changed the way we live and work perhaps more in 2020 than ever before. In fact, data from McKinsey & Company showed that we vaulted forward five years in consumer and business digital adoption in only eight weeks (between March and May of last year).

Out of necessity, employees have had to learn and incorporate new technology during the pandemic. Now, it is businesses’ turn to adopt digital processes, and a good place to start is by incorporating HR tech to eliminate outdated, inefficient processes.

Analyses suggest that between 39 and 58% of work could be automated using technology, according to McKinsey & Company.

Automating processes may seem daunting at first, but with the right HR technology, you can stay ahead of the competition.

Focus on hiring and onboarding

It’s no secret that a company’s most important asset is its people. But are your employees equipped with the skills and knowledge they need to do their jobs? According to a 2017 McKinsey & Company survey, nearly two-thirds of executives say a skills gap is one of the top issues in their companies. Without the right technology, that skills gap could increase as companies onboard and train employees virtually.

Adopting a streamlined talent acquisition and onboarding system allows you to easily hire top talent and help new employees hit the ground running, even if the “ground” is a virtual one.

Providing a structured learning process will set new hires up for success. In a recent Savannah Group study, 95% of senior interim executives said access to information made their first weeks of work more effective.

Invest in employees

Speaking of employees, now is the time to check in on your people. According to Gallup, only 5% of employees reach out to their employee assistance program (EAP) each year, yet many people are dealing with stress and low personal well-being. A Gallup survey from May 2020 found that 47% of employees felt worried and 24% felt lonely.

Creating a culture of engagement and support doesn’t have to be complicated. Keep your workforce engaged by providing ongoing learning opportunities. Customized learning experiences with simple, relevant content empower employees and show them you care about their personal development.

You can also increase employees’ trust and engagement by giving them an easy way to ask questions, voice concerns and have conversations around important topics like diversity and inclusion.

Start 2021 off strong by adopting HR tech that will help give you the ability to adapt, innovate and stay ahead of the competition!