Stay informed of the factors affecting your industry by understanding 4 major 2024 HR trends and how to adapt to them.
The human resources (HR) industry has been in a great deal of flux over the last few years. For one, relationships between business leaders and their employees have changed drastically due to the fluctuating job market and the COVID-19 pandemic. For another, the ongoing development of new technology presents opportunities and challenges for leaders and employees alike.
No matter the change, HR leaders need to always understand what’s coming down the pipeline and adapt to the shifts. Let’s take a look at examples of HR trends you can expect in the next year.
1. Leveraging Technology
As mentioned, the digital landscape continues to develop. In 2024, you can expect to see increasing adoption of technological tools and processes both in HR and more holistically across businesses. Some of the tools that could feature prominently include:
- HR data analytics platforms: As data becomes increasingly important for assessing hiring needs and employee progress, robust analytics platforms are vital tools. Adopting software that enables quick, accurate, and clear interpretation of data is likely to make a big difference in efficiency in HR departments this year.
- Hybrid working tools: More businesses recognize that hybrid working can be both practical and boost worker engagement. Adopting tech to create a positive hybrid workspace is likely to be an HR priority in 2024. This will include integrated project management and communication platforms, alongside collaboration tools that bridge remote and in-office colleagues.
Simply investing in technology won’t be enough here. Processes will need to adapt to make the most out of them. Therefore, HR departments should commit to continuous process evaluation and improvement as they introduce new tech. This helps to identify hidden areas of inefficiency, establish where automation can minimize repetitive tasks, reducing employee boredom and boosting engagement in the process, and even respond to fresh industry changes. HR professionals can be proactive here by regularly creating and updating flow diagrams that visualize the key steps departments will need to take before implementing new tech overnight. This strategy makes it clear where potential issues lie and highlights solutions for streamlining the workflow.
2. Artificial Intelligence (AI)
We’ve already outlined the need to leverage technology, but AI is worth looking at individually. Aside from being a multifaceted tool, it’s also one that is seeing a great deal of attention, innovation, and controversy in HR. Indeed, AI is already impacting the job market in a variety of ways, and is undeniably one of the 4 major 2024 HR trends. There are certainly some potential benefits, such as creating new demand for professionals who have skills in programming and boosting productivity. Nevertheless, HR professionals will also need to navigate the ethical and practical challenges here.
For instance, you’ll need to avoid the potential for harmful job displacement. This may benefit from helping workers upskill or reskill in areas where human perspectives are most needed, such as creative roles like tech design and maintenance positions. If your company is developing proprietary AI tools, use them as a way to complement and support human workers rather than replace them.
You might also be utilizing AI in automating HR and recruitment practices. In these instances, it is vital to ensure there are solid checks and balances in place to ensure the quality of the outcomes these platforms produce. Make certain there is always a professional supervising and assessing the system and its results. This helps to avoid the potential harm programmer bias can do to your business and the company culture, and maintain the human voice and connection that is valued by customers.
3. Environmental, Social, and Corporate Governance (ESG)
Employees, investors, and other stakeholders are increasingly cognizant of how companies make an impact on their community and the planet at large. This becomes an HR issue because workers’ actions impact ESG efforts. The brand’s commitment to sustainability may well affect employee engagement and retention, as well . Not to mention that hiring choices affect the diversity and inclusivity influencers of ESG.
While more Canadian companies are starting to disclose climate-related data, 73% of companies still aren’t disclosing how they’ve analyzed and incorporated ESG issues into their long-term strategies. This year, HR departments may well find it beneficial to get ahead of the curve. Start to collect and present data on your company’s efforts across all departments and how this factors into operational decision-making.
This doesn’t just demonstrate to workers how their labour is ethically and environmentally sound. It also provides materials for marketing the business in recruitment campaigns and on social media. You may find, too, that your transparency helps your company stand out from the vast majority of other corporations in the country that are not yet sharing a lot of ESG data.
4. Worker Mental Wellness
One of the key areas of concern for many employees is mental wellness, and it is the final of the 4 major 2024 HR trends. One recent report found that across all Canadian worker demographics, mental health was the 5th highest concern. Further, it’s in the top two concerns for LGBTQ+ employees and those under 35.
Therefore, HR professionals will need to boost employee welfare in 2024. Some of the effective actions here can be relatively simple, such as ensuring management regularly checks in with their team members about their feelings and needs. Maintaining regular working hours and break times — and minimizing overtime — can also support employees’ work-life balance.
HR departments should also consider offering resources that support employees’ mental wellness. This might include subsidized access to telehealth therapy services that allow workers to get the help they need at their convenience. Being open to hybrid and remote working practices can also be a way to ensure employees can work from an environment they feel most comfortable and productive.
Conclusion
The 4 major 2024 HR trends are likely to present some interesting opportunities and challenges. There are some general activities that help you to leverage and navigate these effectively. That said, it’s important to bear the unique shape of your company in mind. Remember to adopt trending measures through the lens of your specific needs and priorities. This can help ensure your department and business progress in an authentic and relevant way.