4 Trends in 2024 HR Teams Need To KNow About

As we move into 2024, the HR sector faces a landscape marked by rapid change and innovation. Keeping pace with these shifts is not just about staying relevant; it's about anticipating and understanding where the next challenges will come from. This article explores the top four HR trends for 2024, providing key insights for you and your team to succeed in the new year.

Generative AI in HR

The advent of generative AI, exemplified by tools like ChatGPT, has rocked pretty much every sector. Throughout 2023 AI has been a hot-button topic for HR teams, and this is going to continue in 2024.  

These AI-driven technologies offer a new level of efficiency in tasks such as recruitment, personal development, workforce planning, and administrative operations. Considering HR budgets are usually stretched thin, additional support in these areas can help HR teams demonstrate their ROI.  

Despite the clear potential, opinions amongst HR professionals have been a rollercoaster this year. Surveys taken towards the start of the year revealed most HR professionals were concerned about AI taking their jobs. But fast-forward and the figures have changed dramatically.  

74% of HR teams are now actively discussing how to implement AI to help them achieve their goals. The number that believes it will reduce HR team headcount has been reduced to 28%. Instead, the focus has shifted to more pragmatic concerns, like preventing AI bias, potential data leaks, and, ‘AI hallucinations’.

Where 2023 has been the year of AI contemplation, 2024 seems to be the year that businesses will start to implement it. The challenge lies in leveraging the power of AI without losing sight of the human touch that is crucial in business relationships and decision-making.
 

Managing a Multi-Generational Workforce

With the retirement age seemingly rising every year, many people’s working lives now span six decades or more. Combined with the UK’s ageing population, multi-generational workforces are going to become far more commonplace.  

With Generation Z entering their careers and millennials moving into senior roles. This generational shift brings a diversity of expectations and perspectives, particularly around work/life balance, continuous learning, and a strong focus on diversity and sustainability.  

This becomes even more complex considering many baby boomers still have several years left before retirement, as do Gen X. HR teams have their work cut out trying to manage the attitudes and expectations of 4 generations. A perfect example of this is varying attitudes towards AI between these generations. 

A recent MITRE-Harris Poll survey in the US found that 57% of Gen Z and 62% of millennials are overwhelmingly excited about the potential benefits of AI. However, 70% of baby boomers are more concerned about the risks. 

HR professionals have the unenviable task of creating a workplace culture that resonates with all these disparate age groups. Key strategies include flexible policies, tailored communication, and opportunities for cross-generational mentorship and collaboration.  

The last point is particularly important if you have a hybrid or remote working policy. Many Gen Z entering the workforce are not being exposed to traditional office-based learning opportunities. Being able to learn from their older and senior colleagues can help them learn and develop but also create and grow relationships across your organisation.

The Continued Battle Over Flexible and Remote Working

Despite many businesses raving about the benefits of flexible and remote working in the immediate aftermath of the pandemic, many are now forcing people back to the office full-time. 

Whether you consider flexible, hybrid or remote working good for business is becoming irrelevant. Employees value flexibility and now that many have tasted the benefits of these new working methods, they are reluctant to go back. This disconnect between business leaders and their employees could have profound effects in the coming year. 

With the recruitment landscape more competitive than ever, flexible working policies are often a huge influence on whether you get candidates applying for open roles. While pay remains the most significant factor in moving roles, wellbeing and work-life balance invariably come in at number 2 in most job seeker surveys. 

This shift presents both opportunities and challenges for HR professionals. On one hand, it offers a pathway to enhanced employee satisfaction and the ability to tap into a wider talent pool. On the other hand, you may be trying to convince the directors why they should be introducing more flexible working policies. 

If your business is onboard with flexible working, then HR teams are going to pivotal in making it work. The key lies in finding innovative ways to foster connection and engagement among remote teams. This includes utilizing digital tools for collaboration, establishing regular virtual check-ins, and creating virtual spaces for social interaction and team building. 

Demonstrating the ROI of DEI 

In 2024, DEI initiatives face a paradoxical scenario. While some organizations are reassessing and potentially scaling back their DEI efforts, there remains an undeniable need for these programs.

Johnny C Taylor Jr., president and chief executive of the Society of Human Resource Management, warns of a "full-out attack" on DEI policies in 2024. This attack will reflect a broader skepticism of these initiatives in the face of rising costs for businesses. 

This trend is exemplified by Elon Musk's controversial statement on social media, "DEI must DIE", and fashion retailer ASOS scrapping diversity targets for executive bonuses. These actions suggest a growing perception of DEI efforts as dispensable, especially in the current economic climate. 

The departure of top DEI executives from major companies like Disney, Netflix, and Warner Bros. Discovery, often in the wake of corporate mergers and restructurings, further indicates a waning commitment to these roles. This trend raises concerns about the sustainability of DEI efforts, particularly when such roles are seen as non-essential or a 'nice to have' rather than integral to business success. 

However, this 'reset' moment also offers an opportunity for firms to rethink their DEI strategies. The challenge is to demonstrate the real, long-term ROI of these initiatives, emphasizing that diversity and inclusion are not just ethical niceties but also key drivers of business innovation and resilience. 

It’s clear the HR landscape is set to undergo significant transformations in 2024, driven by technological advancements, changing workforce demographics, and evolving workplace norms. Although these issues are wide in scope, they will inevitably be the tasks you and your team need to anticipate in the coming year. 

The journey through 2024 and beyond for HR is one of opportunity and challenge, where embracing change, fostering innovation, and maintaining a people-centric approach will be key to thriving in this dynamic environment.