At the dawn of this new year, let’s take a look at some studies and reports attempting to provide a forward-looking vision on the evolution of human resources functions.
- Retention Challenge
Employee retention is certainly not a new trend for HR services, but this challenge seems even more pressing for the upcoming year. According to the Canadian Business Situation Survey (fourth quarter of 2022), companies of various sizes anticipate an increase in job vacancies, with the highest percentages among those with 20 to 99 employees (17.6%), followed by those with 100 employees or more (15.9%), and 5 to 19 employees (11.2%).
According to Capterra’s survey results, 47% of Quebec residents are considering leaving their jobs. The major issue? According to 44% of respondents in the province, stress is the most discomforting factor. Among other factors pushing them to leave their jobs, three out of the six main ones are financial: salary (42%), benefits (29.2%), and additional bonuses (21.4%).
The lack of work-life balance (26.7%), lack of recognition (30.9%), and strained relationships with management (18.9%) also have a significant impact on this decision, providing insights for HR professionals on measures to adopt.
- Prioritizing Quality of Life Over Salary
What matters to a person in their decision-making for a new job? Adequate remuneration, naturally, for 79% of respondents according to a survey conducted by Randstad Canada. But just behind, 76% of workers now say they value non-material benefits, including schedule and workplace flexibility, training and recognition, as well as the values promoted by the organization.
According to the same study, 40% of respondents would be willing to leave their jobs to improve their work-life balance. This is additional evidence that a company’s attractiveness has become much more multifaceted than before the pandemic.
- Reinvention of Managers
According to Gartner’s traditional report on HR trends, three-quarters of HR managers believe that their managers feel overwhelmed by the increasing responsibilities. This vulnerability is felt by employees: only half of them believe in their manager’s ability to lead their team to success in the next 2 years!
How to solve this problem? According to Gartner, the answer lies not in training but rather in the evolution of the manager’s role. This includes revising expectations for managers (as many of them have more responsibilities than they can handle), better guiding employees towards management (as 20% of managers would prefer not to manage a team if given the choice), and eliminating unnecessary layers.
- Rise of Organizational Culture
Another theme addressed by Gartner this year is organizational culture. With the rise of hybrid and remote work, team cohesion becomes a real HR topic (and a lever for retention, once again).
Companies that manage to strengthen their sense of belonging and convey their values will undoubtedly be winners in 2024.
- HR in the Era of Artificial Intelligence
How not to conclude this forward-looking vision without the flagship topic of recent months: generative artificial intelligence. According to Gartner, 76% of HR managers believe that their organization will fall behind if it does not adopt generative AI in the next 12 to 24 months.
However, use cases are still largely undiscovered. Here are some ideas for areas where AI could provide useful support to HR functions: assisting in the design and writing of job offers, implementing conversational robots to answer employees’ or candidates’ questions at any time, predictive analysis (such as potential departures), performance evaluation, and application screening.
A vast terrain to explore in 2024!
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