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hi everyone and Welcome to our HR Trends video for 2024. the year in which we will say goodbye to work-life balance want to find out why stay tuned my name is Nelly villinden and I'm here with Erica and Philbin founder of aihr we are incredibly excited to bring you this list of 11 trends for 2024. HR is changing and so is the way we operate we've identified the HR trends that will impact the way we work in 2024 we've categorized these Trends into three overarching themes that will help us better understand the forces shaping the world of work nearly this is the fourth year that we're bringing this out and I think this version is our best version yet but before we dive into the trends and the themes don't forget to like this video subscribe to our Channel and hit that notification button let's get started with our first theme HR realigning priorities environmental shifts legislative changes and societal movements are driving a major transformation in HR putting traditional HR Frameworks and priorities under scrutiny our first Trend within this theme is called resolving the productivity Paradox over the past decade organizations have invested in interventions for employee engagements experience and well-being on top of that technological advancements let us automate task and augment decision making and although we feel busier than ever productivity has stagnated and now it's time for HR to step in Australia Britain Canada but also the gulf countries and the Euro area have seen minimum productivity gains with unemployment at its lowest level since World War II an aging Workforce and a chronic lack of digital and technical skills productivity increases are needed to raise salaries and guarantee employment the greatest contribution HR can make to workers in the organization in 2024 is improving productivity HR can do this by formulating strategies to measure and improve performance and rewarding behaviors that drive productivity data plays a key role here think of the Triple Peak day that Microsoft introduced that showed that productivity went up between 6 and 8 pm and then designed strategies to support this or shopify's meeting cost calculator which try to reduce the time spent in meetings by calculating their financial costs finally generative AI also offers a solution a recent study shows that activity increases productivity on writing tasks by 37 percent and work quality by 20 our next Trend provides a relatively underutilized approach to solve the day's lack of available workers and is called HR tapping into the hidden Workforce while we've never had so much work and so few available workers there's a massive hidden Workforce that does not participate but is willing and able to work under the right conditions this includes caregivers neurodiverse people ex-inmates people with no degree some retirees and people with long-term health problems did you know Eric that in the U.S alone this group is around 25 million people in 2024 we cannot ignore this hidden Workforce HR will remove obstacles to work and intentionally seek out this forgotten Workforce policies will include more inclusive benefits flexible working Arrangements a fluid retirement age increase office accessibility and promoting a culture that values diversity technology will also play a role through personalized onboarding and learning real-time feedback and on-demand pay platforms unlocking the hidden Workforce as a new external talent pool is a great opportunity to promote equity and inclusion by removing barriers to work and creating systemic equity and that Eric is what our next trend is about titled the point of no return for dib diversity Equity inclusion and belonging or deib has reached a Tipping Point with the Supreme Court striking down affirmative action and dib roles being hit the hardest in the recent Tech layoffs we need to rein invent how we approach deib in our organizations think for example of Nike sparking controversy by supporting black lives matter while less than 10 percent of the vice presidents are black or targets canceling its Sprite collection because of backlash only to create even more backlash because they canceled it and losing five percent in quarterly sales as a result we believe that 2024 will see a new form of deib which we call systemic dib systemic dib means that companies will consolidate their efforts and focus their the IB initiatives on issues that the company and its employees care about with proof points to back up their position once these proof points are clear systemic div will take targeted action on these issues our last Trend that showcases hr's realign priorities is HR driving climate change adaptation new regulations in the US EU and UK are forcing companies to report on climate related business risks this sustainable ability agenda is often handed to HR which is why we see organizations renaming their chro world as the chief people and sustainability officer in line with this sustainability metrics are being added to the HR scorecard changing weather patterns lead to organizational risk think of flooding and power outages impacting business continuity or how heat waves affect day-to-day work for HR to help minimize disruption and productivity loss it should focus on how the organization can best adapt to climate change this starts with a climate risk audit and setting up a council on business continuity and Disaster Recovery in case of floods and other natural disasters but also implementing labor practices that accommodate extreme weather through climate change adaptation HR can ensure business continuity and take better care of workers that brings us to our second theme for this 2024 HR Trends Edition which is about HR operating model changes but this is not the only major change that will hit HR so stay tuned till the end of the video to find out more as HR realigns its priorities the way HR operates will also evolve in 2024 HR will deliver more value by bundling its services speaking up and learning how to influence perception so let's dive into the next Trend which is called from silos to Solutions more and more we see traditional HR silos breaking down into digital develop ment line HR strategy and change management will become one solution area called strategy advisory and transformation similarly we will see an integration of employer branding Talent acquisition candidate experience Talent insights and employee experience into what will be called awareness and attraction this allows the full integration of the candidate and new hire experience ensuring we can deliver on the employer brand promise made to candidates once they are hired a successful integration of these silos will improve the candidate and amply experience and decrease first year attrition in each of these solution areas the traditional HR functions work together to deliver impact next to this bundling of HR functions we will also see the skills profile of HR professionals change every HR professional will need skills like data literacy and business partnering as they are essential to driving business results driving business results brings us to our next Trend which is called HR leans in HR is super profession that deserves respect is backed by data and robust science and is practiced by knowledgeable individuals who wholeheartedly chose a career in HR but that's not how we see ourselves 73 percent of HR leaders think their team focuses primarily on processes and 63 percent of c-suite leaders see hr's role as administrative that's why we see recent layoffs disproportionately hitting HR professionals 2024 is the year in which HR will lean in and show others that it is vital to organizational success this requires us to be clear on the value we provide what we do and what we do not do and with that become HR first and make our voices heard when it comes to strategic business topics becoming HR first also means standing up for ourselves and investing in our own enablement and empowerment through career paths upskilling and prioritizing our own well-being this will also change our language 2024 is the year in which we'll stop saying that I'm in HR because I want to work with people we are in HR because we drive business results and we drive those results through helping people do you know what else we drive through people Eric our YouTube subscribers did you know that 80 five percent of the people who watch our videos are not yet subscribed to our Channel if you made it this far into the video you're interested in HR content so make sure you like And subscribe to our Channel and help us reach as many Asia professionals as possible the third way in which hr's operating model is changing is a trend we call HR meets PR the MP experience has become a public good every email Elon Musk sends his staff is guaranteed to be published on the internet people share their experiences of being fired on LinkedIn or Tick Tock and we know the remote work policies for companies like Zoom JPMorgan and Goldman Sachs because any policy change makes headlines in 2024 the battle in the court of public opinion will not be fooled by PR or marketing alone but also by HR and how we craft and communicate policies this means that transparent and fair HR policies will become a strategic asset HR departments will have to actively manage public expectations while communicating clearly and delivering on their employee promise internally that brings us to our third and final theme for this Trends video which is HR as a Force for good this theme is about the unique opportunity that HR has in 2024 to drive business results through better employee practices this theme contains our last four Trends starting with the AI empowered Workforce the meteoric rise of generative artificial intelligence like chat gbt has rocked our world generative AI promises higher productivity better work quality and lower cost of production for the organization early data showed that generative AI is reducing the gap between High performers and low performers so enabling the workforce to leverage AI might be the best thing HR can do to improve performance generative AI can also Empower employees to spend less time on operational work and more on the creative strategic and interpersonal aspects of their role HR will play a key role in ensuring organizations can safely benefit from generative AI they'll do this by removing barriers to use training employees on how to leverage Ai and adding safeguards for the responsible use of data and IP another way in which HR can Empower employees and drive impact is through our next Trends shifting work-life balance to work-life fit Eric I wonder how many fancy synonyms you know for the term disengaged employees well there's quite quitting there's Lazy Girl jobs there is laying flat and there's bailand all these words show that our relationship with work and with our employers has changed different people want different things from work some of us don't mind working 60 hours a week While others may prefer a four day work week or just work nine to five and prefer to spend the rest of their day with their loved ones or on their pet projects we will move away from work-life balance to accommodate what people want from work something that we call work life fits HR will help organizations accommodate these different expectations from work and help strike the balance between flexibility and fairness this means identifying what people want from work facilitating these Ambitions and equipping managers to accommodate them if managed well work-life fit can create a renewed relationship with work where work helps people flourish and fulfill their personal Ambitions as AI is impacting how we do our work and work-life fit allows people to fulfill their personal Ambitions work can become more meaningful this brings us to our next Trend which probably has the spiciest title of them all the end of BS jobs yes Eric I think this must be a re-study in food and countries showed that 17 percent of work ERS doubts the use of soldiers of their jobs with 19 percent of U.S workers finding their jobs socially useless people in meaningless jobs are dissatisfied less productive and more likely to burn out with the rise of AI in Automation and the changes they bring to how work is done job design has become more important but often we give limited attention to whether the job we designed will be meaningful for the individual this needs to change we can design better jobs by improving management quality removing unnecessary hierarchy and ensuring that workers see how they contribute to what the organization is trying to achieve this brings us to our final trend for 2024 which is called from Talent acquisition to Talent access younger Generations value opportunity to learn and grow interest in the type of work and opportunities for advancements when looking for jobs on top of that 48 of organizations identified improving Talent progression and promotion as key business practices to increase the availability of talent in a historically tight labor market HR will focus on Talent access over talent acquisition this means rethinking traditional career paths enabling and promoting internal growth and mobility and better delivering on amply expectations to retain Talent that's right Eric I think this strand sums up much of what we've already discussed in this video as child delivers more value to employee in purpose removing barriers to work and breaking internal functional silos to deliver a better employee experience hence making jobs more meaningful and enjoyable and that brings us to the end of this video let us know in the comments down below which Trend you're excited about and what other Trends you're seeing in your organization and if you want to read more about these Trends check out the full HR Trends article which we will link in the description of this video and if you haven't done so already like this video And subscribe to our Channel thank you very much for joining us for this year edition of HR Trends we hope you'll have a brilliant day bye thank you [Music]