As we begin the new year, Proactive people like you are already planning their next moves and considering HR Trends. With 2024 shaping up to be a pivotal year, Ward Williams HR review the HR trends to look out for:
The cost-of-living crisis becomes a ‘cost-of-work’ crisis – Many employees who have been working in a remote or hybrid environment will not be used to the financial and energy costs of travelling into an office each day.As more and more employers issue mandates for remote workers to return to the office, employees will have a sharper awareness of what they spend going to work and there may be pushback.To deal with this, employers could think about offering benefits such as housing or travel subsidies, wellbeing programmes to support the additional energy required to attend the office in person, or even the ability to bring pets to work.
Diversity, Equality, And Inclusion (DEI) – DEI initiatives continue to be one of the biggest trends to focus on with the new hybrid model being implemented globally. These initiatives aim to eliminate discrimination, unfair wages, and many other inequalities that employees face in the workplace. Talking about the company’s DEI efforts in meetings and during onboarding can emphasise the move towards inclusivity.
Skills overtake qualifications – More and more employers will favour skills over specific qualifications in 2024, with a number already removing a requirement for a degree. This will mean they can pick from a much broader talent pool, as well as develop their own credentials (including apprenticeships) to grow their own talent for the future.
Flexible Working – Managing opportunities and challenges around the ongoing shift towards flexible working arrangements will be high on the agenda of all HR professionals, particularly those working for larger organizations with geographically diverse workforces. While it offers the chance for greater employee satisfaction and to attract talent from further afield, it also means overcoming obstacles to developing a corporate culture, maintaining team unity, and ensuring consistent lines of communication and accountability are in place.
AI-Powered HR Solutions – AI has been a major talking point in 2023 and it is almost certain that more HR professionals will leverage Artificial Intelligence to their advantage in 2024. Expect sophisticated AI tools for recruitment, employee engagement, performance management, and learning & development. Used properly, these technologies can streamline tasks, enhance decision-making, and personalise employee experiences, improving overall efficiency.
Staff Retention – One impact of successfully training and upskilling your workforce for the AI age is that they become highly sought-after by competitors or even in entirely unrelated industries. To retain their valuable investments, businesses must offer a real reason for their workers to be loyal. This means fostering a culture of reward and recognition as well as offering opportunities for continuous development and learning.
If you would like any further information on the HR trends raised, or ways in which we can support your business, please do not hesitate to get in touch with the office on 01932 830664 or email hrservices@wardwilliams.co.uk.