As we step into 2024 with renewed vigour to embrace the opportunities that it brings, we are hopeful that the industry faces fairer weather than last year.

In 2023, the dynamics of the workplace experienced noteworthy transitions, predominantly marked by layoffs which propelled a lot of anxiety and insecurity. Simultaneously, a substantial increase in workplace stress, caused by the economic slowdown, and the transition from hybrid to in-person attendance to the office, bore a negative impact on employees’ mental health, prompting organisations to reevaluate their approaches and prioritise employee well-being.

As geopolitical factors continue to impact the industry, influencing talent mobility, regulatory landscapes and workforce strategies globally, organisations must adeptly navigate changes in immigration policies, economic conditions and security concerns, adapting to the dynamic interplay between global politics and human resources.

This year as well, HR professionals will continue to face the challenge of navigating a constantly changing landscape to secure organisational success in the midst of evolving work models and employee expectations.

The following trends, that are expected to emerge this year, will reflect this sentiment strongly:

Anchoring Diversity, Equity And Inclusion (DEI) To Business Success

There is going to be a continued focus on DEI initiatives to create inclusive workplaces, address systemic biases and foster diverse talent acquisition and retention strategies. A majority of HR decision-makers (75%) stated that their company would prioritise diversity hiring, according to the Jobvite data.

In EY’s Belonging Barometer 3.0, 63% of GenZ workers reported they would choose a company that prioritises DEI over one that doesn’t. This figure is noteworthy as Zoomers will comprise 30% of the labour force by 2025.

‍

Read full article here