HR Trends to Monitor in 2024

In today's market, HR professionals must adapt to the changing expectations of organizations and employees amid difficult economic conditions. As such, proactive HR leaders and professionals should approach 2024 with strategies that will prepare them for success. To aid Human Resource departments, we've put [...]

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In today’s market, HR professionals must adapt to the changing expectations of organizations and employees amid difficult economic conditions. As such, proactive HR leaders and professionals should approach 2024 with strategies that will prepare them for success.

To aid Human Resource departments, we’ve put together the top five HR trends to monitor in 2024:

  • Artificial Intelligence:

    In 2023, AI exploded in popularity, adopted by many employers to enhance workflows and improve customer experiences. AI can be used to create thoughtful performance reviews, career coaching, and identify internal growth opportunities for employees.

    However, As AI becomes even more common, employers will have to shift their focus to prioritize ethics and compliance-related issues. This includes addressing how data will be used with generative AI, who will use the technology, and how best to comply with changing laws and regulations.

  • Skills Gaps & Skills-Based Hiring:

    Although the most recent U.S. Bureau of Labor Statistics report found there were 6.3 million unemployed individuals, skill gaps continue to challenge employers. This year, employers may refocus their efforts on finding employees with the right skills, rather than a specific experience or education.

    This concept, skills-based hiring, evaluates candidates on their skills and capabilities rather than traditional qualifications, such as degrees or experience. Organizations that provide comprehensive learning and development initiatives can consider hiring individuals who are an excellent cultural git and train them on specific tasks or skills.

  • New Compliance Rules:

    Many states have enacted new benefits laws regarding paid parental, medical, and family leave, retirement plan options, sick time, and paid time off to vote. In 2023, the DOL also proposed a new overtime rule, which is expected to address how to implement the exemption of executive, administrative, and professional employees from the minimum wage and overtime requirements. This could also provide clarity for classifying exempt employees and increasing their salary levels under the FLSA.

  • Less Remote Work:

    Employers are increasingly requiring employees to return to in office work, despite the widespread popularity of flexible work arrangements. This shift has been marked by increased scrutiny of workers and employee backlash. Many employers worry that pressuring employees to return to the office could cause increased turnover or damage their reputation.

  • Employee Engagement:

    Employee happiness and engagement has declined increasingly since the beginning of the COVID-19 pandemic, being referred to as the “Great Gloom” by some HR experts. This trend indicates a strong link between employee engagement and economic and societal conditions. Furthermore, high inflation has caused organizations to implement cost-cutting measures, such as layoffs and heavier workloads for employees, which in turn increase stress, decrease morale, and contribute to a negative workplace environment.

    Employers should recognize that employees’ needs and expectations shift with the economic climate and will adjust to meet evolving employee demands. These strategies include a renewed focus on honest and transparent communication, psychological safety, fairness, and belonging.

HR professionals can stay ahead by monitoring trends that will impact the workplace in 2024 and resonate with current employees. As employee expectations continue to evolve, employers who elevate and strengthen their workforce strategies will have a competitive advantage when supporting and attracting today’s workers.