HR is a constantly expanding field, and now more than ever HR departments are having to learn to adapt to an evolving workforce, new technology, and industry standards that are changing at a pace like never before. With 2023 coming to a close, it is time to consider what should be top-of-mind for the new year to help businesses and teams thrive.
To adapt to industry changes and prepare for rapid transformations in the HCM landscape, HR departments should prioritize their resources so they are best equipped to strengthen employee relationships through optimal communication and career development, boost change management skills, nurture the tie between employee experience (EX) and customer experience (CX), and lastly, to optimize HR tech. Let’s explore each of these in detail:
1. GROWTH POTENTIAL FOR LEADERSHIP: CONNECTION, COMMUNICATION, & TECH
2024 will see a push towards helping managers be more effective leaders. This will be essential in helping mend the currently “unsettled” employee/employer relationship. A recent Gallup survey revealed as few as 21% of American workers trust their company’s leadership. With this gap in trust, how can HR and management work together to find ways to mend the divide? Remedies should include investing in skills development programs to help managers become better leaders. Implementing the following steps can greatly improve leadership skills:
Master Conflict Resolution
2024 will likely see a continued push for a return to office. Since this is something many employees have been dreading, management will need to be prepared for potential pushback against return-to-office initiatives.
If staff is disgruntled with return-to-office initiatives, they may also be more irritable in the workplace, and this could potentially lead to a rise in conflicts amongst employees. This could be heightened by the fact that your staff may not be used to working together in the same space.
Effective leaders in the new year will then need to be masters of conflict resolution. Proactive HR departments should make a point of offering conflict resolution courses to management as part of their return-to-office initiatives in order to ensure managers have the tools they need to handle potential workplace disputes.
Be More Technologically Adept
With the rapid pace of technological change in the workplace in recent years, effective managers will need to embrace this technology and become more technologically adept in 2024. HR plays a critical role in this by providing managers with the training they need to be equipped with the latest skills and knowledge. In order for an organization to be competitive in the new year, their leaders must have the ability to adapt to changes in technology, and they must be equipped with the multidisciplinary knowledge required to drive digital transformation.
Boost Emotional Intelligence
Effective leaders will also need strong emotional intelligence in order to support their teams. Empathetic leadership is particularly important, as it helps managers connect with their teams on a deeper level.
Modern employees face significant amounts of stress, particularly in an era of innovation where they are constantly expected to adapt to new technology. Considering 83% of US workers suffer from work-related stress, empathetic leadership, and leading with emotional intelligence, can result in higher employee engagement, improved morale, and greater loyalty.
Managers need to make an effort to understand their employees’ unique situations and the challenges and emotions they are currently facing so that they can better support their team’s needs. When managers lead with emotional intelligence, employees feel valued and understood, which motivates them to give their best effort.
Be Authentic
As companies return to office, one of the biggest things management needs to do is take steps to rebuild a sense of community in their team, as this can foster teamwork and boost productivity. Yet, with a majority of workers stating that they don’t trust their managers, effective leaders will first need to take steps to gain their team’s trust.
A great way to do this is to be as authentic as possible in the workplace. A major reason employees don’t trust their managers is that they don’t trust their intentions or believe that their interactions are authentic. Good leaders should work to have authentic interactions with their team and build genuine relationships that will help gain their employees’ trust back.
Improve Communication
Of course, in order for a manager to lead authentically with empathy, compassion, and understanding, they will also need to have excellent communication skills. This is particularly important as more companies embrace a hybrid work style, as managers will need to be proficient in clear communication across a wide variety of platforms. Leaders need to learn to communicate effectively with their teams no matter where they are located, and they need to have the communication skills to foster workplace culture and facilitate efficient teamwork.
2. Change Management
In order for companies to adapt to emerging trends in 2024, HR and management will need to be prepared for effective change management. Change management refers to the process of making organizational changes based on emerging market trends. In order for transformational changes within your organization to be successful, management will need to ensure that they take steps to sharpen their change management skills. This can help ensure changes at your company stick.
However, if you want your company’s change management strategies to be effective in the new year, your HR department will need to account for change fatigue management. Organizations must plan ahead for change fatigue, as the pace of changes within organizations in recent years has left employees feeling overwhelmed. Unfortunately, change fatigue can harm employee well-being and organizational outcomes. If your company has major changes planned in 2024, your HR department will need to prioritize change fatigue management in order to drive successful transformation that lasts.
3. FORGE A STRONGER BOND Between Employee Experience (EX) and Customer Experience (CX)
A significant HR trend companies need to be prepared for in the coming year is the increasing symbiotic relationship between employee experience (EX) and customer experience (CX). The digital age has brought with it numerous transformations in the corporate landscape, including a growing overlap between EX and CX, and 2024 will see many companies preemptively manage both experiences in a more unified way.
Companies are finally realizing that an enhanced EX is not just a perk, as it has a direct effect on customer satisfaction and loyalty. This is because engaged employees who feel valued, respected, and supported are more likely to provide a high level of customer service.
Considering the direct impact employee experience has on customer experience, it makes sense for companies to coordinate their efforts to improve both. Recent advancements in AI and data analytics can help provide insights into both EX and CX, enabling organizations to determine where there are gaps, how EX and CX affect one another, and track what changes will have the greatest impact on improving employee and customer experience.
2024 will then see companies combine employee and customer experience efforts in order to ensure that their brand provides the best overall experience that helps them remain competitive. HR professionals will need to find ways to be more customer-centric and collaborate with external customers if they want their HR management strategies to be effective. This includes using customer feedback to guide training decisions, rewards programs, and hiring practices.
4. Nurture Career Development
Continuous learning and career development opportunities have become an essential aspect of the modern workplace, and this trend will continue into 2024 as a significant HR management strategy. The fact is that nurturing career development can help improve job satisfaction, helping to reduce turnover rates. Retaining talented employees is essential in a competitive hiring market, as it can reduce recruitment costs and foster a positive organizational culture and reputation.
HR departments then have a responsibility in the coming year to ensure that employees have access to development programs that help them enhance their skills such as training programs, mentorship opportunities, and career planning sessions. Employees should also be encouraged to explore new ideas, experiment with new approaches, and embrace failure, as this allows them to grow their skills and bring innovation to the workplace.
5. Optimizing Human Resource Tech
The latest technological developments have helped revolutionize the workplace by changing how businesses operate, and HR is no exception. In 2024, HR leaders must manage an increasingly complex technology portfolio as organizations increasingly rely on new technology to improve efficiency and foster trust within their organizations. In particular, the latest HCM software will help continue to improve efficiencies within HR departments by eliminating redundant data entry, automating many manual HR tasks, and connecting the entire employee journey in an all-in-one system.
HR technology can also enhance the employee experience and enhance trust through transparency. Through their HCM software, HR departments can now provide employees with real-time access to information about their performance evaluations, compensation packages, and career development opportunities. These self-service tools empower employees and foster company loyalty.
Companies that have yet to take advantage of the latest HR tech will need to make doing so a priority in the new year if they want to keep up with the competition.
6. People and Culture Focus for HR
An emerging trend as of late has been rebranding HR as “People and Culture,” and this trend is expected to continue in 2024. This represents a significant systemic shift in the HR landscape, and companies are starting to reimagine the function of this department and the role it has within an organization.
Companies are choosing to rebrand HR as people and culture in order to show the value and priority of the two most important aspects within an organization: its people and its culture. When both the people and culture within an organization are set up for success, business will be able to thrive. This rebrand then represents the importance companies place on supporting the people and culture in their organization and ensuring that everyone has the tools to succeed.
ABOUT PLATINUM GROUP
Of course, in order for your HR department to succeed in 2024, you need to have the right tools to ensure you are able to stay on top of the latest industry trends. Feel free to contact Platinum Group to learn about our all-in-one, cloud-based HCM system isolved and the benefits it could bring to your company.
