Top Ten Work Trends Quarterly Updates

A diverse group of SIOP members are serving as Trend Champions for the people-related work trends that SIOP members collaboratively predicted to be the most impactful in 2021. Each Trend Champion has expertise in and professional passion for their trend subject. SIOP appreciates their service to the profession in providing quarterly updates on their chosen topics.

Find the full list of topics and links to the other Top 10 Work Trends here

The Latest on Trend #10: Virtual Learning

 
2021 3rd Quarter Update

Let’s face it; we are in a creator economy. The typical corporate Learning & Development functions offer prescribed and compliance learning solutions, but there is now an expectation that organizations offer user-generated content (UGC) as well. With people creating and consuming content every day on YouTube, TikTok, Clubhouse, podcasts, blogs, books, etc., they expect to create and consume UGC in the workplace. Thus, the modern learning organization must offer platforms that allow learners to deliver high-quality UGC, all under a clear governance policy. Consider investing in a learning experience platform that democratizes learning and supports UGC.

Skilling is still a very hot topic, and SkillsTech is an even hotter topic! There are academic definitions of “skills,” but the reality is that leading vendors such as Workday (with the Skills Cloud module) and Burning Glass (with skills market data) are driving the corporate definition of skills. Today organizations are struggling to define, assess, inventory, and report on skills to drive strategic workforce decisions. As Josh Bersin recommends, a skills system or record is required to drive decision-making. Explore EdCast’s SkillsDNA solution to address complex skilling problems.

Human capital disclosure is still top of mind for most learning leaders. As a reminder, effective November 2020, all US-based publicly traded companies now have to report the material value of their human capital. Current analyses of Annual Reports have shown that reporting is all over the board, and investors, employees, and prospective employees are having difficulty comparing human capital practices across organizations. Thus, the SEC will buckle down on disclosure requirements, and more precise requirements are coming soon, so stay tuned!

Here are some other key resources, related to virtual workplace learning I curated to provide more insights for SIOP members.

Workplace Learning

Fy21 Q4 Hot Topics To Watch

 

2021 2nd Quarter Update

The hottest topic in the learning and talent space today is SKILLING! Everyone is talking about skilling; defining skills, exploring how to build a skills architecture, exploring their current state of skills, and identifying how to close skills gaps with new learning solutions such as virtual training. There are two big reasons skilling is important. First, there is a global skills mismatch. Organizations are not able to find the skills they need for in-demand jobs for a multitude of reasons. Thus, they are focusing on building talent instead of buying talent. Second, there is no universally agreed-upon definition of skills. For example, what one organization calls "collaboration" another may call "teamwork." The bottom line is that skills are our only competitive advantage. Organizations must start solving complex skilling problems now.

Another hot topic continues to be how companies are reporting human capital disclosure. Effective November 2020, all US-based publicly traded companies have to report the material value of their human capital. Annual Reports show that reporting is all over the board. Large corporations appear to be reluctant to disclose human resources data. Most are not reporting quantitative measures and providing narrative responses only. Thus, SEC Chairman Gary Gensler will update the human capital disclosure requirements requiring more rigorous reporting.

Looking ahead, skilling is the only way we will future-proof our workforce and remain competitive. We will need to highlight all our great skilling efforts in our public human capital story, while reimagining ways to learn virtually.
 
2021 1st Quarter Update

The big COVID pivot finally brought corporate learning and development (L&D) to the table as strategic leaders and awakened the world to the true value of educators globally. The need to quickly upskill and reskill talent required rapid digital transformation in order to repurpose content aligned to new virtual learning strategies. We learned that we are agile, we can adapt, and we can make smart strategic decisions in a pinch.

Additionally, in the US, the recent Security & Exchange Commission’s mandate for public companies to report the material value of their human capital effective November 2020 was another opportunity for corporate L&D functions to step up as strategic leaders to demonstrate business impact. The SEC mandate was a surprise to many organizations, and they scrambled to publicly define the material value of human capital. We didn’t do such a great job in FY21Q1, but we will get better! Across the next few years, watch the explosive rise of human capital measurement consulting and platforms.

Taken together, the future of learning, upskilling, virtual training, and reporting the material value of human capital were hot topics in FY21Q1. Hot topics to watch in Q2 include more opportunities for virtual training and strategies for closing organization skills gaps

 

 

Champion: Stacey Boyle, PhD

Stacey Boyle has over 25 years’ experience in L&D strategic consulting, serving as an executive advisor to CLOs and learning leaders. She is recognized as a thought leader and expert in delivering human capital measurement solutions. Stacey shares some of her best practices in her book, Be More Strategic in Business: How to Win through Stronger Leadership and Smarter Decisions, co-authored with Diana Thomas, former McDonald’s CLO. Dr. Boyle has a Ph.D. in applied behavioral studies – research and evaluation, an M.S. in psychometrics, and a B.A. in psychology from Oklahoma State University.