Global HR Trends for 2024: Navigating the Future of Work

It’s no secret that HR and recruitment teams have had a tough year in 2023, with many large organisations choosing to downsize these particular departments in an effort to curb costs. It’s expected that remaining team members will shift their focus from constant new hiring waves to instead investing in building up their existing employees’ CVs. Educational and training resources, mentorship programmes, sponsorship for career progression – all of these supports can help HR teams to invest in their workforce and reduce staff turnover. 

In keeping with 2024’s employee-first mindset, it will be important for HR teams to revamp their performance review process and take a new approach to career development for teams. According to Betterwork’s 2023 Global HR Research Report, 64% of workers view their performance review process as always or sometimes a waste. 

When employees feel their work is being picked apart and criticised by managers, but see no incentive to work harder (like the prospect of a promotion or pay increase), this encourages disengagement. Managers and HR teams need to keep this in mind at their next annual review – take the time to map a progression path for each employee, and engage with them on their goals, both personal and professional. 

The cost-of-living crisis is affecting almost every team around the world, but many feel that their organisations are ignoring the situation. Inflation has hit record numbers, and many employees are struggling to make ends meet behind the scenes. Coming to work and feeling like their problems don’t matter only worsens the issue.

While it might not be possible for every organisation to consider pay increases or bonuses (although this is something that employers should look into), there are lots of other ways to show support for struggling employees. For example, the option for remote work can cut commuting costs, or mental health supports could be provided to those that need to talk. Get creative and be sure to address the issue at company-wide meetings, so teams know they are not alone. 

Finally, a workplace trend that is impacting every team this year is AI – and it will continue to do so in 2024. HR teams have seen success in using AI for everything from onboarding new hires, gathering data for performance reviews, and automating administrative tasks. In 2024, it’s expected that even more HR teams will begin to embrace AI in their everyday work.

From technology to the human touch, the world of HR will continue to develop in 2024, so it’s important to keep an adaptive work culture in place. Interested in finding out more? Check out our blog with ten steps on how to define your corporate culture.

With Allianz Partners, we know the importance of looking after your business’s international employees. Whether you employ teams on short-term assignments, or you need to look after a large international department, there’s a plan to help your employees feel safe and secure. Explore our range of international healthcare options and see which one is best for you.