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    Charting The Course: Anticipated HR Trends For 2024

    Experts share their insights

    Posted on 12-20-2023,   Read Time: 6 Min
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    Three corporate workers clad in formal attire are shown seated in a row and are looking curiously at a person in centre of the table who is not visible in the image.

    As we stand on the cusp of 2024, the intersection of work and technology is undergoing profound transformations.

    Artificial Intelligence (AI) tools continue to promise unprecedented efficiencies, yet a distinctive emphasis on the indispensable role of human empathy within Human Resources (HR) is set to define the year ahead.

    In the realm of HR, particularly in delicate matters, the significance of human touch remains unparalleled. Business leaders and HR professionals are actively shaping their strategies, envisioning the landscape that lies ahead. This foresight is driven by a commitment to not only embrace emerging trends but also to fortify initiatives that empower their workforce for peak performance.

    Check out what experts share as we delve into the anticipated HR trends for 2024. Gain insights into the evolving landscape of work, the pivotal role of technology, and the delicate balance between AI efficiencies and the enduring value of human empathy in HR.
     
    Image showing Kelly Mendez-Scheib of Crunchbase, wearing an Indigo coloured sleeveless blouse, shoulder length black hair and smiling at the camera. Kelly Mendez-Scheib, Chief People Officer at Crunchbase
    Kelly expects the tech sector will soon be bracing for a revival in the competition for top talent, especially in cutting-edge areas like machine learning and data science after a lull in 2023. In addition, the integration of AI in human resources is being reassessed. While AI tools offer efficiencies, the year ahead will highlight the irreplaceable value of human empathy in HR, especially in sensitive matters.

    Return of the tech talent wars: In 2023, we saw a pause in the war for tech talent that has defied much of the last decade. Nearly 200,000 employees were laid off in the tech sector alone, and those who managed to hold onto their jobs largely paused their job search, leading to a notable decrease in attrition rates.

    Many companies have responded to this new-found leverage by cutting beloved perks, including remote work arrangements and mental health days. In 2024, this will prove to be a miscalculation. With less economic volatility potentially on the horizon, workers will resume their search. This will be particularly true for those with highly-competitive skills, like ML/AI software engineers and data scientists. I can confidently predict that jobseekers will remember the companies that stuck to their commitments and the companies that didn’t. And while fully remote opportunities may not return at scale, an increase in flexibility will come back as soon as top employees start to look for other roles.
    AI cannot replace empathy (yet): Over the past few months, account managers from every HR tool we use at Crunchbase have reached out to upsell us on new AI-powered capabilities. While some of these tools will prove useful by automating mundane, time-consuming tasks, the bulk of our work as “The People Team” must and will remain human-centric. I don’t think most employees will want to ask a bot about their company's bereavement leave policy when a close family member dies, or when they are having a mental health crisis. Departments may well over-index on these tools early in the year. Ultimately, I predict that the use case for AI will be better identified in 2024, but it won't be the silver bullet to all things HR.

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    Image showing Lucy Beaumont of SHL, with chin length silver blond hair, wearing thick framed glasses and a blue scarf around her neck along with a white blouse. Lucy Beaumont, Solution Lead - Manager & Leader for SHL
    “Generative AI is an unstoppable tsunami of unprecedented change that is and will hit all organizations. 2023 saw the first real strides in commercial and open-access Gen-AI with the release of ChatGPT Plus in February. And since then, we haven’t stopped talking about it! Gen-AI will undoubtedly make HR and business processes more efficient, reduce repetitive tasks, and lead to great leaps in predictive talent analytics.
     
    The HR tech industry is fighting to lead the way, but HR should be cautious in reviewing and validating AI-based HR Tech. AI is largely unregulated and there are risks in its use. As organizations look to ride this wave, they will need to be savvy about understanding the technology available and validating its suitability as we integrate AI in 2024.”
    Lucy also believes the pendulum will swing with companies looking to hire employees with behavioral skills rather than technical skills.
     
    “HR has turned its attention to skills in a big way in 2023. Yet often the definition of ‘skills’ is unclear, but there tends to be a focus on technical/functional skills as organizations grapple with the pace of new and emerging skills. The focus on technical skills has helped HR hire people who can hit the ground running and deliver quickly. Yet the pace of change and the emergence of ever-new skills will mean that organizations will fall into a constant race to find people with the latest and greatest technical skills of the day.

    In 2024, we will see the pendulum swing to a focus on behavioral skills; identifying individuals who have the agility to learn new skills, who can problem solve and communicate their findings to others. In doing so, a focus on recruiting, developing, and mobilizing talent with the soft or behavioral skills to succeed in the future will become the greatest competitive advantage to HR.”

    ---------------------------------------------------------------------------------------------------------------------------

    Image showing Brian Parks of MapsPeople, wearing a formal blue attire and smiling at the camera. Brian Parks, General Manager, Americas, MapsPeople
    “Everyone has been talking about “the way we work” as something that has changed based on location due to increasing numbers of remote or hybrid workers in the workforce. Whether it’s desk or room booking or navigating an office building you only have been to a few times to find a conference room, indoor mapping and associated technology will have a big part to play in that new way of working. AI is challenging what kind of jobs will be relevant in the next 3-5 years. As headlines claim, “Technology ends [insert role here],” there is much debate over how it will impact artists, designers, developers, marketers and other roles — or if it will at all.

    The real impact of AI will be a shift from having massive numbers of "information workers" to more "skilled workers” whose work will be less about moving data around and more about the ways data can be applied in combination with humans’ critical thinking and the help of technology. There is a real opportunity for more humans to participate in meaningful work that isn't just sitting in front of a computer screen or Zoom meetings, but rather building and maintaining the critical infrastructure that runs the world. Whether it's upkeep on electrical grids, water systems, solar power or even electric vehicles, we need more skilled workers, and technologies like AR, VR, and AI can be leveraged to both develop that skilled workforce and support them in executing their jobs.”

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    ePub Issues

    This article was published in the following issue:
    December 2023 HR Strategy & Planning Excellence

    View HR Magazine Issue

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