Surveys suggest around 50% of the UKs workforce is considering a job move in the coming year. The impact of losing valid members of the team will have a profound effect on reaching strategic business goals.
HR teams, while already under pressure, will be expected to adopt new technologies to improve efficiency and performance whilst attracting new talent and developing and retaining existing employees.
Despite a quiet job market there is still a skills shortage, which will affect the ability of organisations to attract and retain talent as well as to innovate and compete. HR teams will need to bridge the skills gap, innovate and compete against other firms when recruiting.
As recruitment becomes more dynamic and competitve there will be a more targeted focus on retention. Fully updated salary and benefits information will help support retention strategies. Understanding the latetest workplace culture and environment trends and providing a positive environment will all help to retain employees.
The average hybrid environment has increased from 2 days a week in the office to 3 days a week in the office in the past 12 months, a shift which is deeply unpopular amongst employees, and one which may be the difference between team members staying with an organisation or choosing to move on.
Another trend shaping HR in 2024 is the adoption of AI and automation to deliver routine tasks, such as onboarding, screening, scheduling, feedback and repetitive HR administrative tasks. As AI is introduced HR teams will need to take a strategic approach to implementation, ensuring AI aligns with the business and take sinto account the interests of all involved. A study* of the impact of AI on the workforce found that some employees are fearful, especially in more junior roles, with some employers not addressing training needs of the employees or communicating the wider business strategy for the adoption of AI. Integrating AI into the workplace will increasingly become an HR responsibility.
The use of data analytics is becoming more prevalant within HR teams. Processing, and interpreting data will support HR teams in decision making, measuring and driving improvements.
As a result of the increase in demands on HR professionals we expect increases in, and subsequently the salaries for, HR data analysts to grow with the increased use of data within the HR function.
There has been an increase in specialist contractors across senior HR roles within business. Chief people officers, HR transformation specialists, Learning and Development consultants and HRIS experts have all seen an increase in demand. We expect these areas of expertise to remain in high demand through 2024 with the adoption of new technology and challenges of retention predicted.
*The Ashdown Group
