Article: 2024 HR Trends: Shaping the future of work

HR Technology

2024 HR Trends: Shaping the future of work

In 2024, we anticipate substantial transformations in the influence of technology on HR processes, empowering HR professionals to proactively mold organisational culture and drive business growth.
2024 HR Trends: Shaping the future of work

The year 2023 was a year of accelerating transformations that continue to reshape the global talent market and redefine the jobs and skills of tomorrow. Despite the industry facing challenges like attrition, many organisations continued to innovate with newer ways of working, bolstering employee engagement and navigating hybrid working. I believe, the new year - 2024 too is going to be an eventful one. From the increasing integration of technology to the reimagining of employee experience, this year could be pivotal for HR professionals navigating the ever-shifting currents of the modern workplace. 

Here are some of the trends I foresee as we set the pace for the new year:

Greater integration of technology in HR processes: Technology will continue to empower and transform organisations with streamlined HR processes, data-driven insights, and enhanced employee experiences. Evolving technologies will enable efficient upskilling, training and development, and organisational assessments. One such technology that is creating a revolution in this industry is Artificial Intelligence (AI). Recruitment teams are already using AI to screen and evaluate applications with more accuracy and speed. AI could help minimise the impact of human biases while enabling more in-depth assessments, gathering information from online public sources beyond just the resume. 

A redefined concept of wellness: Aon India’s 2022 National Wellbeing Survey reveals an upward trend in well-being investment, with 81% of Indian companies stating an increase in such investments compared to the previous year. Moreover, 78% of these companies acknowledge a heightened demand for emotional and well-being support in the workplace. The year ahead will continue to see companies relook at ways to build a culture where employees feel safe and cared for. A focus on holistic wellbeing, with policies, and initiatives that aim to enhance mental, physical, social, and financial wellness for employees remains critical. Technology will continue to help here as well, from digitising wellness tools to enabling the right level of customisation for wellness solutions based on employees' unique needs. 

Continued focus on diversity, equity, and inclusion: DE&I policies and initiatives not only foster innovation by embracing diverse perspectives but also significantly impact recruitment outcomes, elevating employee morale and productivity. According to a Nasscom report, a remarkable consensus among 95% of organisations views DE&I not just as a business imperative but as a moral commitment. Many organisations in India have already moved towards greater inclusivity by adopting policies that promote equal treatment for all employees, irrespective of their sexual orientation, disabilities, or gender. Yet, there is still a considerable journey ahead for India Inc., particularly in enhancing the representation of LGBTQIA+ individuals and fostering an equitable and inclusive culture for persons with disabilities (PwDs). The coming year too needs a sustained focus on this aspect, developing and communicating clear and actionable DE&I policies outlining the commitment to creating a diverse and inclusive workplace. 

Enhancing an overall employee experience within a workplace: Organisational success depends on people's success. This simple truth guides the design of employee experiences, from onboarding to exit, with a strategic mix of human intervention and digital interfaces at the core. Investments to enhance employee experiences and engagement, including physical spaces and digital tools will continue. Technology will play an important role in digital touchpoints with AI-enabled interactive bots, more sophisticated platforms for collaboration, as well as customised onboarding and development journeys. In addition, in-person interactions and the human touch will be key to driving engagement and enculturation.

Upskilling powered by AI: More than a billion jobs worldwide will be transformed by technology in the next decade. Today’s set of employees prioritise opportunities for learning and growth as the primary driver of a positive work culture, emphasising the importance of building a strong workplace culture and reinforcing organisational values. AI plays a significant role here, offering personalised learning experiences, automating repetitive tasks to free up time for learning, and identifying specific skills that need to be developed. Organisations are likely to adopt innovative digital tools that use AI to suggest mentors and short-term projects to assist employees in their growth and development journey. 

The future of work in 2024 will continue to push the boundaries of what HR can do. The new year will likely witness significant transformations in how technology powers HR processes and systems, enabling HR professionals to play a more active role in shaping and nurturing organisational culture and impacting business growth. 

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Topics: HR Technology, #FutureOfWork, #Outlook2024

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