2024: Our Predictions for the HR Sector
As we move into 2024, the HR landscape is poised for dynamic transformation. Basil le Roux, Head of the Berwick Partners’ HR practice, outlines his thoughts on what he thinks the trends, challenges and opportunities will be for the future of HR leadership, talent management and workplace dynamics.
Impact of AI: To paraphrase Ernest Hemingway the impact of AI will be felt gradually and then suddenly. With the advances of generative AI that moment feels increasingly near. From a people perspective this will necessitate training and development to support existing employees and from a TA perspective a greater focus on candidates digital skills.
Restructuring: Companies have been able to weather the inflationary storm and interest rate rises without having to making significant numbers of employees redundant. However with the impact of interest rate increases now feeding through into the economy this is likely to change through 2024, especially amongst consumer facing industries
Long term sickness: since coming out of the pandemic the UK economy has been heavily impacted by an increasing number of people off on long term sick. Today there are c2.6m people are economically inactive for this reason, which is a 30% increase from 2019. This has begun to catch the attention of policy makers and employers. Helping these individuals to return to work and training for Managers to support them is going to become an area of increased focus for employers.
Return to the office: Employers continue to wrestle with the challenge of getting employees back into the office. During the post pandemic boom they had to adopt a softly, softly approach such was the demand for candidates but with a softening jobs market and “power” returning to the employer this is likely to change as they become firmer with their expectations and requirements.
If you wish to discuss any of the topics in this article or have a conversation about increasing the senior HR leadership capability in your organisation please contact Basil le Roux.