BANKSETA AR 31 AUGUST

Human Resources: Preparing for the Future of Work The role of human resources (HR) has been completely transformed following the Covid-19 pandemic and given rise to many questions. How should HR professionals prepare for the future? What kind of HR jobs will be there in the future? The change in HR and its core competencies will also have an impact on the future of work itself. HR has become an absolute strategic business partner. Along with that, metric analysis is an integral part of core HR functions. HR professionals will become an integral part of business operations and strategy. This is true for most global enterprises where strategic planning has become a core HR competency. The new normal of remote working is shaping the future of HR and affecting organisational culture and day-to-day operations. Its effect on business has highlighted the need for adaptability and resilience in today’s workforce through the implementation of the organisation design that will address the strategic mandate of all organisations, including the BANKSETA. The future of HR depends on the employee. HR leaders need to constantly reexamine workforce planning, emerging skills, the impacts of artificial intelligence, the employee experience and so much more as business disruptions reset - many irreversibly - key work trends. Moreover, large scale implementation of the employee experience platform is correlated to organisational business outcomes. This is attested to by budget provisions for upskilling employees. Hybrid Working Arrangement Approach Over the past year, the world of work has changed dramatically, as organisations across the world were forced to rethink their operations in the face of the Covid-19 pandemic. This change prompted businesses to employ new strategies and tools to continue serving stakeholders and driving revenue with a remote workforce. As we begin returning to the office, organisations have to work out how to adapt their work styles to operationalise this future, ensure employee satisfaction, expand access to talent, and maximise productivity. Changing Work and Employee Expectations

BANKSETA recently conducted the BANKSETA employee: hybrid working model 2022 survey with our staff to better understand what our internal stakeholders think, feel, need, and expect about the future of work and returning to the office. Based on the outcome of the survey, the BANKSETAwill ensure a holistic employee experience for both on-site and remote working staff members by implementing a In the fourth industrial revolution, HR is faced with the massive task of shaping the workforce of the future. This can only be done in a collaborative way that is dynamic, highly responsive to the technological variations, and sensitive to the changing scenarios of employees and employers. The impact of the 4IR is to enhance interaction in the workplace through technology, to ensure and improve on efficiency. Human Resource Information Systems Drive The next generation of workers will log in to their HRMS not only from home, but from anywhere. The revolution that is coming in the facilities and infrastructure domains will enable solutions for a permanently mobile workforce. The BANKSETA is investigating the implementation of a web based human resource information system to centralise all HR processes, including modules for recruitment, performance management, skills, employment equity, payroll and ESS. hybrid working model from 1 April 2022. Outlook of the 4IR Impact on HR

113

PART D: HUMAN RESOURCES MANAGEMENT | BANKSETA ANNUAL REPORT 2021/22