As we come to the end of the first quarter of 2024 how have HR priorities changed in your organisation? And have you been able to make progress with initiatives around talent development and retention?
I recently had an interesting podcast chat with Kay Phelps (she/her), Founder of PR in HR, who specialise in HR and workplace communication, often linking HR teams with the developing narratives and thinking in the vendor space and wider business community. We looked at the findings from their extensive research into HR strategies and priorities for 2024.
In terms of the key challenges, they identified talent attraction and retention, DEI&B strategies and the need to support people in their development as the major priorities, with budget constraints and a perceived lack of support providing internal barriers to progress.
Overall they identified 5 key areas for action:
Prioritising Employee Experience: Employee retention is top of mind for most organisations and came through as a key priority in the research. It’s certainly been at the forefront of most conversations I’ve had recently with HR and Talent leaders. The key is to invest in initiatives that enhance employee experience, the main ones being career development programmes, providing support for wellbeing, and being open to flexible work arrangements that help employees manage their own time and commitments whilst being fully productive. Getting budget for employee experience initiatives isn’t always easy though, but investment in employee listening and recognition platforms is a good way to start assessing mood and enthusiasm. As well as regular catch up/check-ins with your people.
Strengthening DEI&B Initiatives: Doubling down on Diversity, Equity, Inclusion, and Belonging efforts are now critical components of organisational success – in the UK they came top in the list of HR priorities from the research. The results showed that overall a significant number of HR teams are considering investing in new products or services to support their DEIB strategies so it’s essential to collaborate with reputable suppliers who are able provide valuable insights, case studies and support in implementing strategies. And to know exactly why you are investing.
Embracing the Future of Work: Staying ahead of evolving work trends by developing adaptable strategies that consider the impact of technology and changing employee priorities and expectations. Future work models are likely to have a high degree of adaptability and flexibility, and so it’s important to fully understand and recognise the impact that AI and other evolving technologies may have on the organisation and it’s people.
Overcoming Internal Barriers: HR needs to address major internal challenges – which will primarily be a lack of budget and leadership buy-in – by being advocates for a data-driven approach to decision making on strategy and organisational design initiatives. Overcoming a lack of expertise by getting external support from trusted suppliers and consultants could be helpful, particularly when it comes to shaping (and getting) management and Board level buy-in.
Continuous Learning and Improvement: There needs to be a culture of continuous learning within the HR team itself, staying updated and informed on latest industry research and insights, best practices, and emerging technologies. Some of this can come from external sources – such as conferences, webinars, and networking events – as well as regular check ins with the vendors and consultants who can really offer educational content, unbiased guidance, and evidence of their success through case studies and testimonials.
You can listen to my podcast conversation with Kay Phelps (she/her) on the HR Means Business site (https://www.hrhappyhour.net/episodes/supporting-hr-strategies-and-priorities-for-2024/) and you can download their HR Strategies and Buying Decisions Report here
(A version of this post originally was originally posted on my weekly HR Means Business newsletter – subscribe today and get weekly updates on my research, thinking and podcast chats)
Talent Trends & Insights 