In the knowledge economy, HR is all about trust and relationships
The “knowledge economy," a shift from industrial to intellectual employee output, has transformed human resources, according to an article at TLNT from Mark Sawyer, co-founder and CEO of Bonfyre, a private social communication platform.
Sawyer writes that the so-called knowledge economy has really turned HR into something much more complicated, moving from a one-dimensional focus on singular tasks (the old personneal department model) to a profession that "increasingly mirrors the multidimensional complexity of human beings."
He writes that the best aspects of the knowledge economy, including "specialization, trust, strong culture, and contribution," represent ways to “engage” employees. And companies with engaged employees can enjoy 87% higher retention and 202% percent more revenue, along with other upsides, Sawyer writes.
According to Sawyer, building relationships in the workplace beyond the work itself is what powers organizations in the knowledge economy. He offers several ways by which employers can make human connections more "evident" to employees, which in turn drives higher engagement.
Sawyers advice? Make communications tech about more than productivity (create new "digital" spaces); embrace new data points in the HR business intelligence landscape; ask for frequent input from employees (and ensure its actionable); facilitate new connections among employees (new ways for people to meet others, interact), and humanize the leadership team.
Sawyer adds that it's important to make these types of connections a priority in an employer's culture because it will result in employees feeling more connected to one another, which then would extend to their workplace.