Top 10 HR Trends for 2024: What Your Business Needs to Know
To drive success in any business or industry, it is important to look toward the future and understand the prevailing trends in your industry — and that includes Human Resources (HR). Cahue Enterprises HR Consulting, Inc. is here to help and we have created our list of the Top 10 HR Trends for 2024 that highlight what your business needs to know.
What Are the HR Trends You Need to Know in 2024?
When it comes to trends in HR, we could probably go on and on. The challenges faced by human resources departments are always changing — as are the ways that HR reacts and adapts to those challenges. This translates to HR trends, and it is important to understand the trends that will have the biggest impact on your business, company, and department.
Here is a better look at the HR trends that you need to know in 2024.
1. AI Technology Integration
Technology and Artificial Intelligence (AI) are growing trends in many industries and promise to have an impact on HR as well. Generative AI and AI-powered assistants or work buddies have the ability to impact HR by better managing the workforce, simplifying data entry, analyzing employee data, and much more.
2. Emergence of Hybrid Workforces
The global pandemic forced many businesses and HR departments to adapt to a remote workforce and with the conclusion of the pandemic, hybrid workforces have become a growing trend. A recent ADP survey has shown that 64% of employees do not want to work in the office full time. Hybrid work environments can be a challenge when not implemented in the correct way, but can improve autonomy, productivity, and employee engagement when used in the right way.
3. Increased Career Development
An estimated 80% of employees consider professional development and training opportunities to be an important factor when choosing their careers. With the advent of AI and advanced technology, there has been a greater emphasis on providing additional opportunities for professional development and career mobility to create broader skill sets for employees.
4. Increase in Blended Workforces
Recent data has shown that there has been an increase in the number of workers in all sectors — except full-time employees. HR departments can expect to see an increase of blended workforces with full-time, part-time, contingent, and contract employees. This trend means that HR departments need to be increasingly aware of employee classification compliance issues.
5. Redefined DEI Compliance
Diversity, equity, and inclusion programs have been in the headlines a lot in the past few years and with this increased emphasis, HR departments can expect to see and have already seen legal changes to DEI standards. These changes to laws and policies will undoubtedly impact HR departments, making it critical to stay informed.
6. Increase in Skill Development
This trend goes hand in hand with the career development trend. With the advances made in technology, employees will need to upskill and reskill to drive career success as traditional skills may not be as valuable in the workforce and this means changes for human resources departments.
7. Developing Leadership Skills
Leadership is a skill that can be developed with the right training and many businesses are starting to invest in leadership development to improve their workforce. This means spending money on development programs and hiring leaders from within — rather than hiring externally.
8. Improving Employee Well-Being and Company Culture
Employee well-being and mental health have become a priority for companies since the lessons learned in the COVID-19 pandemic and it continues to be a growing trend. More and more companies are investing in creating an employee experience that stands out to potential employees and providing mental health support in the workplace.
9. Rise of Multi-Generational Workforces
Millennials and Generation Z make up the majority of the workforce and each generation has its own priorities and values that businesses need to understand. With that said — many employees are working longer and not retiring, leading to a multi-generational workforce that can benefit your company when different generations can learn from one another.
10. Increase in Skill-Based Hiring
In the past, hiring was based on basic qualifications, education, and knowledge in many cases. Businesses have found that may no longer be sufficient and it has resulted in an increase in skill-based hiring that puts an emphasis on specific skills for a particular role, which creates a more effective and diverse workforce.
READ MORE: Why Is It Important to Have HR Compliance for Your Business?
Are you looking for ways to future-proof your company? Knowing and understanding HR trends can help human resources departments know what is ahead, recognize challenges, and develop strategies that help drive success. We hope that this list of Top 10 HR Trends for 2024 Your Business Needs to Know will help guide you.
Contact Cahue Enterprises today to schedule a consultation!