Five HR Trends for 2024

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What trends will shape the HR year 2024? Personio names the five top topics.

Trend #1: Individually tailored conditions for employees

In 2024, companies will have to individualize measures and strategies even more – because blanket, company-wide approaches have largely had their day. The changing requirements and expectations of employees require concepts that harmonize with individual life situations and the associated work performance.

Young graduates and trainees have different expectations of their working environment, leadership and working hours than experienced employees or employees with families, for example. This more personalized, targeted approach is becoming a critical factor when it comes to retaining and attracting top talent and qualified employees.

Trend #2: Revising the compensation strategy

To keep pace with changing market conditions and organizational requirements, companies need to regularly review and adjust their compensation strategy. In doing so, it is important to take a holistic approach. This means taking into account business priorities, the benefits and perks offered and long-term incentives.

However, the location of the employees also plays a decisive role. More and more companies are currently (re)considering the question of whether teams should meet regularly in the office and are developing corresponding guidelines. At the same time, it has become clear that in times of home office and remote working, it is convenient to work in regions with a lower cost of living and that it is no longer absolutely necessary to live in an expensive metropolis close to the office. In order to ensure fair remuneration for all employees – regardless of location – even with a geographically dispersed workforce, a standardized performance comparison must be implemented.

Trend #3: A return to the “why”

In recent years, the only constant for many companies has been constant change – and this will not stop for the time being. But that doesn’t have to mean anything negative. Organizations need to rethink how they perceive and respond to these changes: In a Personio study, 36% of HR managers surveyed stated that they primarily have a reactive role.

However, instead of trying to manage change reactively, companies and HR teams in particular need to focus on increasing readiness for change. This is the only way that change can be better accepted and managed. An important part of this is for HR teams to become aware again of the original, underlying “why” behind their actions. Creating clarity about their own motivations is a central task in order to be able to actively shape the ongoing change.

Trend #4: Further training by employees for employees

When it comes to training, employees will increasingly organize themselves and create their own learning content from which others can also benefit. Companies can encourage this by implementing internal learning groups and mentoring programs. Learning and development teams can draw on the existing expertise of individual departments and support them in preparing materials for internal training purposes. At the same time, this form of training offers the opportunity to further strengthen networking within the teams and the company.

Trend #5: Talent acquisition remains in flux – and is increasingly focused inwards

Artificial intelligence (AI) is and will remain a hot topic in HR, including in talent acquisition. A recent study by Personio on the topic of AI shows that 74% of HR managers aged 18 to 34 already use AI-supported tools. Almost half of those surveyed (49%) see the recruitment of new employees as one of the key areas in which the use of AI can provide noticeable benefits. This trend is expected to continue.

At the same time, talent acquisition in 2024 will increasingly focus on the existing workforce. Due to the tense economic situation and the reduced willingness of many employees to change jobs as a result of the ongoing uncertainty in the labor market, internal development and job opportunities will increasingly come into focus. Companies must continue to focus on carefully and comprehensively integrating goal-oriented and meaningful initiatives into all HR and recruiting processes.

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