Top Five

Every year is different—even as we work to perfect operations quarter by quarter, the new year is sure to reveal new technology, new standards, and above all new challenges.

Asset management solutions provider Replicon is one of many expert sources offering their predictions, identifying five workplace trends expected to arise in 2016 based on data and discussions with both partners and clients.

“As businesses develop their strategies for success in 2016, we see workplace trends sitting squarely in changes to how people work – whether that’s from a geographic or legislative perspective,” said Raj Narayanaswamy, co-founder and co-CEO at Replicon. “Time is the one aspect everyone complains they lack and at Replicon, we’re committed to investing in innovative technologies that complement how a business gears for growth.”

So what will come to the forefront this time around? Here is a glimpse of the future as Replicon sees it—see if you agree with this picture of what 2016 may hold:

1. Regulations impact an increasingly diversified workforce: Replicon cites changing regulations in both the US and the UK, from the former’s minimum wage and independent contractor debates to the latter’s National Living Wage, to inform the prediction that businesses must be more diligent about ensuring that hiring managers and human resources always keep these regulations in mind. “Businesses that hire a more diversified workforce – particularly ‘on-demand’ companies with a significant number of independent contractors – must ensure they assess how they classify their workers to avoid the costly class action lawsuits that have punctuated this year,” the list explains.

2. Organizations tread a fine balance between a flexible work culture and compliance: “Work-life balance” is a concept that employees have become increasingly aware of in recent years—yet many in the United States fail to achieve a satisfactory work-life balance. In 2016, Replicon predicts that smart businesses will start finding ways to enforce a better work-life balance for the benefit of both staff and the business itself. “Unfortunately, people don’t always take time off from work – and a number of recent legal cases have exposed businesses to more costly and potentially brand-damaging consequences than anticipated,” reads the list. “In 2016, companies will be more judicious in how to encourage work/life balance and implement employee benefit programs against corporate, financial, legal and human resources implications.”

3. Smart devices and the Internet of Things spark a renewed BYOD wave: It’s clear that the Internet of Things is going to be massively important across many sectors in 2016, and that includes the business world where IoT will be able to increase efficiencies. “Expect there to be a continued bring your own device (BYOD) transformation as enterprise technology vendors capitalize on the popularity of wearables to build and collaborate on software that will support how people work, such as capturing data to support workforce efficiencies,” says Replicon.

4. Hard-wired clocks continue to decline thanks to more cloud-based, automated technologies: More simply put—punching in and out of the office with a physical time clock is becoming a thing of the past as more effective and accurate cloud-based technology continues to eclipse its analog predecessors. “As companies continue to migrate to the cloud, these legacy technologies will become obsolete,” the list explains. “Rather, businesses will focus on providing flexible, application-based tools with a more modern user interface for people to use, with built-in visuals and real-time data to deter time theft from employees potentially using a co-worker to ‘punch’ time for them that was not worked.”

5. Companies incorporate more agile project management processes: Replicon predicts that agility will continue to be an increasing priority for businesses, especially in the IT department. “In larger product-centric and project-oriented businesses, expect the benefits of this approach to extend across the entire organization, emphasizing central access to real-time information throughout the project lifecycle to track critical hours and resources, and ensure projects are on-time and on-budget,” Replicon notes.

Original Source: businessreviewusa

Get started today.
Set up a free trial based on your business needs. Start Free Trial

Calculating the ROI of Your Projects with Time Tracking

Before initiating a project, professional services firms want to know how much profit and revenue they can generate for the company. Return on Investment (ROI) analysis helps firms to evaluate…Read More

Humanizing the Time Tracking Tool

Benjamin Franklin once said, ‘Time is money’ and nowhere is truer than in business. Time is a strategic asset that is extremely limited. Businesses that use their limited time productively…Read More

How Time Tracking Improves Bottom Line Results

Every enterprise is looking for ways to improve its bottom line and gain profit in a given time. From hiring the right talent to training their existing employees, organizations spend…Read More

Demystifying the millennial workforce: 5 tips from Trunk Club’s Andrew Anderson Devine

Time magazine labels the millennial generation the “most threatening and exciting generation,” infamous for “narcissism [and] its effect: entitlement.” In the workplace, the perception of the millennial workforce is no…Read More

Time and Attendance Orientation Guide

In a growing business, the day will eventually come when managing time and attendance on paper becomes both inefficient and risky, especially when trying to balance things like overtime, paid…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates
  • Others