The 10 must-know trends for the next 12 months
After years of dealing with seismic shifts in the workforce, HR leaders continue to grapple with more disruption, volatility and headwinds. Inflation and cost-of-living crises, global instability, economic uncertainty, the rise of AI and new regulations ranging from data privacy to climate change are all confronting Australian organisations in 2024, with no relief in sight.
HR leaders recognise that it’s a tight time when it comes to budgets, with organisations having to consider profitability versus growth. Many HR professionals report they’re having to do more with less as HR functions, and stress and burnout is rising.
Wellbeing remains a key concern as employees face pressures at home, with the ongoing cost-of-living crisis making salary a major topic. But with budgets already strained, how can organisations get smart with benefits if they can’t simply raise salaries?
In the ongoing talent crisis, HR itself is no exception. The Society for Human Resource Management says that even HR roles have been stretched thin in recent years. DEI positions are also seeing increased turnover as leaders struggle to get buy-in and effect change.
The tug-of-war over hybrid work is far from over, as organisations mandate more days in-office while workers continue to demand flexibility. Employers are twice as likely as workers to want workers full-time in the office. Adding further complexity is a new “right to disconnect” in the Fair Work Act.
Other issues that are top of mind for Australian HR professionals include the gender pay gap, as new data is published showing the extent of the problem, and the challenge of workforce planning in uncertain times.
For our 2024 report, we interviewed a range of HR professionals and people leaders about the leading HR trends and issues for 2024, as well as how their own organisations are tackling them, and the solutions that still need to be found.
This report is brought to you by the HR Symposium 2024 – which kicks off in the Hunter Valley on Tuesday, 30 July.
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