Acknowledging the ever-evolving nature of the HR landscape is crucial as it serves as a cornerstone in your business operations. As a business owner/manager, staying abreast of legislative changes that permeate the working environment and culture is essential. Embracing these shifts, rather than disregarding them, plays a pivotal role in cultivating a productive business with a positive reputation, drawing in the best talent, thereby boosting profitability.
Navigating the Future:
Five key HR trends
Acknowledging the ever-evolving nature of the HR landscape is crucial as it serves as a cornerstone in your business operations. As a business owner/manager, staying abreast of legislative changes that permeate the working environment and culture is essential. Embracing these shifts, rather than disregarding them, plays a pivotal role in cultivating a productive business with a positive reputation, drawing in the best talent, thereby boosting profitability.
Five Trends To Consider
- Hybrid work or Working from Home (WFH)
During COVID-19, businesses shifted their workforce to remote setups. Now, as restrictions ease and offices reopen, a challenge arises. Many employees, having adapted to remote work, resist returning to the office, while employers seek transparency and team-building. For tasks requiring on-site presence, it’s non-negotiable. A conversation is crucial for roles like admin or sales to align employee preferences with organisational needs. Assessing whether office presence is necessary, considering both preferences and merits, is essential.
- Employee well-being
Employee well-being is critical in building workplace resilience. It supports the physical, mental and emotional health of your team. For example, flexible work arrangements, Employee Assistance Programs (EAPs), work-life balance policies, and team activities that focus on connecting and strengthening bonds are ways to ensure respect and encouragement of your employees’ well-being. Businesses with a sincere and dedicated approach to these indicate a positive outcome in productivity, engagement and retention.
- Diversity, equity and inclusion (DEI).
Commit to providing employees with equal opportunities to succeed. To do this, you need to understand and respect each individual’s particular needs and help support anyone who may be disadvantaged. This includes respecting and accepting race, religion, age, gender identity, socio-economic status, and political perspective.
Initiatives focusing on policies, practices, and culture can be implemented to correct inequities within any business, including addressing discriminatory hiring practices and pay inequity.
- Generation balance is changing.
Generation Z are entering the workplace, millennials are moving into leadership and management roles, and an older workforce is still employed.
Navigating the entire spectrum is essential. Gen Z and Millennials seek tech integration, a voice in decision-making, well-being focus, and flexible working conditions. Balancing these expectations while considering the impact on the more seasoned workforce requires harmonising diverse approaches. Encouraging all voices, fostering mutual learning, respecting opinions, and ensuring diverse teams contribute to an inclusive, productive environment.
- Data analytics
Data analytics will continue to support Human Resource functions in 2024. Using data, HR professionals can analyse and gain insights into employee engagement, performance, and retention. They can assist with mapping out promotion and salary decisions, restructuring around tasks and duties, and employee engagement.
The best operating tools for HR data can be drawn from an HRIS system that stores and monitors/reports on employee onboarding, leave, performance and offboarding.