2023 HR Trends and 2024 HR Predictions
Human resources (HR) trends are methods and approaches often used to meet employee needs, add value to the business, and stay up to date with industry developments. These trends, when successful, are widely adopted by other companies.
You might have heard of some successful trends in the past, including remote work and work-life balance, however, the focus has recently shifted to mental health and support. As the labour force continues to grow, these and a few other trends will be carried over by Canadian businesses into 2024. Below are 2023 HR trends and 2024 HR predictions that you must know:
1. DEIB in Focus
According to Forbes, 2024 is the year of DEI (diversity, equity, inclusion, and belonging) reinvention. Organizations use diversity, equity, and inclusion—often shortened to DEI—to meet the needs of individuals from a variety of backgrounds, ethnicities, and groups. Businesses now are expected to do more to promote inclusivity and diversity. This not only benefits employees but also creates an inclusive and open environment in the workplace.
2. The Employee Experience and Career Development Takes Center Stage
The employee experience is among the hottest areas of focus in HR in 2023 and, from the looks of it, will continue to be a top priority in 2024. A recent Forbes report highlights that 47% of HR leaders consider employee experience to be a major concern that needs to be addressed. But according to 44% of those leaders, there aren’t enough exciting career paths in their organizations.
A major key to the employee experience is career development and growth. HR departments need to place greater importance on career development and create clear paths for growth within their organizations. Employees and industry professionals are looking for companies that invest in long-term growth, so this will increase retention rates and draw in talent.
3. Promotion of Social Connection Among Colleagues
Employee isolation has become a problem as remote work has become more common. In 2024 and 2025, HR departments will focus on promoting social connections among colleagues, says the Harvard Business Review. Virtual team-building activities, regular video meetings, and digital channels for casual communication will become a standard practice. HR professionals will need to find innovative ways to recreate the in-person interactions within a remote work setting.
4. HR Digitization
In 2024, and even more so in 2025, HR digitization will rise to the top of the priority list. This includes using HR software for a range of tasks, such as performance management, employee engagement, and onboarding and recruitment.
HR professionals will widely use artificial intelligence and machine learning to give them insights into hiring, retaining, and other areas. This will, in short, help to retain the best candidates for the job roles.
HR trends are all about staying informed and ready for the future. Through this, HR departments will be able to maintain a strong, effective, and motivated workforce in 2024.