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Human Capital Management Predictions for 2008

WorldatWork, an association of human resource (HR) professionals from FORTUNE 500 and other leading global organizations, recently released a whitepaper focusing on eight key predictions showcasing trends and events that may influence the nature of human capital management in 2008 and beyond. The predictions are intended to compel organizations and total rewards professionals to prepare for future changes and not be caught unawares. "In an environment where the global scope of opportunity and technology are all-pervasive influences, an organization’s interaction with a rapidly changing labor force will result in dramatic transformations in workforce management, work design, outsourcing and training," says president, Anne Ruddy. Not only will these changes require HR practitioners to re-think their approach to managing human capital, total rewards professionals will need to be aware of these predictions for opportunities to contribute to the business goals and actively define their role for the future. According to WorldatWork’s white paper, The Future of Attraction, Motivation and Retention Literature Review, these eight predictions not only touch on the future of work but the implications on the total rewards and HR professions. "These predictions have wide-reaching implications for the professions involved in employee attraction and retention," says Ruddy. "An organization’s ability to attract, motivate and retain will emerge as the primary indicator of fiscal performance and survival." Predictions on the future of work include:

1. The successful organization of the future will excel at acquiring, organizing and strategically deploying global resources.
2. There will be increased global connectivity, integration and interdependence in the economic, social, technological, cultural and political spheres.
3. Technology will advance at an even more rapid pace than in previous decades.
4. There will be continuous, dramatic changes in the labor force.
5. Human capital will become an even greater source of value.
6. The way work is organized and performed will evolve and change continuously.
7. Outsourcing will increase.
8. Self-paced, self-directed individualized virtual learning will dominate business training.