HR Outlook 2024: 4 Proactive Workplace Approaches for Thriving Amidst Global Economic Shifts
Singapore, January 31, 2024 – In light of the COVID-19 pandemic and the subsequent challenges faced by businesses, resilient leadership has become paramount for companies adapting to new economic shifts, geopolitical tensions, inflation, and environmental, social, and governance (ESG) concerns. EngageRocket’s HR Outlook 2024, based on interviews with over 100 global HR leaders and analysis of millions of employee survey responses, highlights four key work trends for 2024 and provides expert recommendations for businesses to thrive in this changing landscape.
1) Proactive Organisational Change: To thrive amidst macro shocks, 45% of HR leaders consider organisational transformation as their top priority for 2024. The research reveals that 37% of employees feel their teams lack innovative behaviors, leaving companies vulnerable to macro changes. This indicates a transformation deficit that emphasizes the need for HR and organizations to mobilize their workforces, leverage restructuring, and rethink processes to navigate current and future shocks.
2) Gen AI: Despite the prevalent hype, AI falls to the ninth priority among the top 10 priorities for HR, with only 5% of HR leaders naming it as their top priority. The hesitation towards AI within organizations must be overcome in 2024, as thoughtful consideration and adoption of AI technologies can address the future of work effectively.
3) Collective Responsibility for Employee Engagement: According to EngageRocket’s research, a significant majority, 84%, of employees trust their managers. The role of leaders and managers who have earned their employees’ trust is crucial. In 2024, employee engagement should be recognized as a collective responsibility, with managers playing an essential role, supported by HR.
4) The 3 Cs of Driving Performance: Traditional approaches to performance management and reviews have been ineffective for a long time. To overcome this challenge, insights from conversations with over 100 global HR leaders recommend a multi-faceted solution encompassing three key aspects—connection, conversation, and coaching. These three Cs can drive performance and improve the effectiveness of performance management.
EngageRocket’s HR Outlook 2024 provides valuable insights to help businesses navigate the evolving landscape of work. By prioritizing proactive organizational change, embracing AI technologies, fostering collective responsibility for employee engagement, and adopting the three Cs of driving performance, companies can position themselves for success in the face of global economic shifts.
To access the full report and gain deeper insights into these trends, please visit www.engagerocket.co/hroutlook2024. EngageRocket is an employee engagement and performance management platform trusted by top companies globally.
About EngageRocket:
EngageRocket is a leading employee engagement and performance management platform that empowers businesses to build engaged teams and elite organizations. Trusted by top companies across diverse industries in 14 countries, including Sephora, Toyota, Nikon, and Mizuho, EngageRocket provides continuous listening and real-time analytics, enabling impactful management action.
For more information, please visit EngageRocket’s official website.
