Chamber Chatbook: Chapter 8

BUSINESS RESOURCES 2024 HR Business Trend Predicitions Welcome to: ASK HR. Each issue will include survey, 92% of workers surveyed said they would answers to your questions regarding a variety of be comfortable working alongside coworkers with human resources-related topics to help you with a non-violent criminal record. some of the pressing needs of your business. Our Also, there is growth in a multi-generational expert is fellow member, Sheila McKinley-Bell of workforce. One in five workers are saying they Shoreline HR Consulting, www.shorelinehr.com . will never be able to retire so they will be working Please feel free to let us know what questions are longer. According to the Bureau of Labor Statistics, on your mind. workers age 75+ are expected to grow between Today’s question is: What HR Trends are predicted 2020-2030. for businesses in 2024?

Mental Health – According to an Indeed.com Answer: For 2024, the main HR trends will focus on survey, 60% of employees reported that work has a artificial intelligence, green issues and sustainability, major influence on their mental health. Specifically, hiring, mental health, pay equity and transparency, the quality of the work hours, fair treatment among and retention, retention, retention. employees, role clarity, manageable workloads and leadership that looks after their own mental Artificial Intelligence (AI) – More and more health. Leading businesses are investing in work companies are focusing on how to utilize AI to well-being. How people feel when they are at work automate work and speed up processes, such as matters more and more. recruitment and hiring, while controlling for Pay Equity and Inclusion – In 2021, US women bias and exclusivity and increasing diversity and workers earned 77¢ for every $1 paid to men. inclusion. Employers are also using AI for upskilling Employees are expecting more pay transparency. and reskilling employees for new job roles.

Employers are updating job descriptions and job Green Issues and Sustainability – This is of postings to include the pay ranges for roles. particular importance to Gen Z (age 16-26). When Retention, Retention, Retention – Generally, it costs these employees believe their company is making between $4000-$20,000 to hire a new employee, an effort to reduce the environmental impact of plus salary and benefits. It is much cheaper to their company they are more likely to remain loyal train, upskill and reskill current employees than to them. to hire new employees. Hybrid and flexible work Hiring trends- According to the latest US Census, arrangements are still a huge satisfier for employees.

62% of Americans over the age of 25 lack a bachelor’s degree. Therefore, employers are putting more emphasis in hiring people with skill sets that For more information on the HR trends for match their jobs, rather than focusing on education 2024, employers may access the following article and work experience. More people are being published by Indeed.com: Workplace Advances in hired with resume gaps and no degrees. 37 States, 2024: Boosting your Hiring Strategy In A Disrupted including CT and the rest of the New England Labor Market and Mid-Atlantic states, have passed Fair Chance Sheila can be reached online at laws that encourage employers to consider giving sheila@shorelinehr.com or by phone at candidates with a criminal record a “fair chance” 860-256-9881. at being hired. Job postings are starting to include “felon friendly” and “no background checks” in their job postings. According to an Indeed.com