Top 5 HR Trends for 2024

Recruit and Retain the Right Talent

“The Great Resignation” is accelerating in the U.S., and around the world. 4.5 million Americans walked off the job in November and there are a couple of major factors at play here:

• Compensation: According to Fortune, 44% of those who are actively searching say compensation is the No. 1 factor they look at. Transparency by companies here is crucial.
• Pandemic burnout: This has been an epidemic among workers across many industries. Burnout, worries about family’s health, and/or vaccination status have all played a role. Companies must address and satisfy these issues.

Interestingly, however, hiring has also increased across the board, at an even greater rate than resignations. This suggests, according to Elise Gould of the Economic Policy Institute, that “workers appear confident to quit their jobs in search of better ones” that better suit their needs.

The Employee Experience and Well-Being

Perhaps the most important way for a company to avoid being a victim of “The Great Resignation” is by paying close attention to and ensuring the well-being of its employees. In fact, one study found that 62% cited “well-being benefits” as a key factor in job satisfaction. 

Onboarding is the employee’s first touchpoint with an employer. It’s essential for that experience to be a welcoming and effective one. In 2022, as so many workers were brought on board ‘remotely’, feeling a part of the team can be difficult. It’s imperative for HR to be a frequent and accessible go-between for employees

Diversity, equity, and inclusion (DEI) has also been increasingly important factor in employee well-being. A focus on diversity is another way to ensure that staff feels like they belong right from the start. 

Flexibility is yet another important part of the employee experience. The option to work remotely, and flexibility in employee benefits to satisfy personal family and lifestyle needs, can go a long way to building worker satisfaction.

Leveraging AI and Automation Tools

Artificial Intelligence and automation tools can serve HR teams in a myriad of ways.

Workflow automation drives efficiencies and optimizes processes. Automating repetitive and mundane tasks frees employees to focus on more creative, strategic, and valued work. This boosts not only staff morale, but also production, and KPI.

Additionally, integrating AI allows for endless opportunities for HR departments. From tracking and sifting candidate resumes in targeting the best talent to data-backed insights and an automated, intelligent communication tool.

Hybrid Work Tech

83% of today’s workers prefer a hybrid work model. With so many employees working from outside the office, centralized online workspaces are a necessity. Sharing and collaborating with team members at the office or in other locations keeps remote employees involved.

However, working outside the office creates other issues. Cyberattacks have skyrocketed since the beginning of the pandemic, as bad actors take aim at the proliferation of sensitive material leaving the safe and secure borders of the office. HR teams will need to ensure that all employees are well-educated in cybersecurity tactics.

Compliance Challenges

All of the changing rules and regulations of the past year have kept HR teams on their toes. The hiring of remote workers from disparate locations worldwide has presented another compliance challenge. And the aforementioned cybersecurity issues will mean that HR professionals need to collaborate with IT teams to ensure that cyber compliances are being met.

Businesses everywhere must update their HR tech stack to meet all of the new challenges of today’s hybrid workplace. From AI and automation to employee well-being, great HR leaders are forward-thinking in 2022, and setting themselves up for a successful future.