As I prepare for teaching my Becoming a Sustainable Organization in the Bard MBA in Sustainability program, I attended a Josh Bersin Insights on Corporate Talent, Learning, and HR Technology 2024 Predictions webinar. We have a lot going on in human capital leadership these days and I am pleased that my course strongly aligns with the top 2024 trends that Josh Bersin highlighted including:
- Labor Shortages
- Organizational Transformation
- AI Driving Change
- Employee Expectations
Talent pools remain tight. While we have seen tremendous growth in productivity over the past decade, our demographic trends around retiring Baby Boomers and low birth rates continue to create pressure on the labor markets. In order to engage talent, people leaders are redesigning workforce practices to support people centered organizations. With extremely low unemployment rates, attracting and retaining talent is a key priority and the demands by employees for equity, opportunity, and flexibility must be addressed.
We are moving from Industrial organizations to People Centered organizations. Competitive advantage is increasingly dependent upon the superpowers of your people. In addition, organizations need agility and resiliency to address changing trends, customer demands, and technological developments. People systems are being redesigned to support dynamic organizations.
AI is impacting how the world works. It impacts organizations, products, work functions, jobs, and the traditional role for Human Capital Management (HCM). Chief People Officers must fully understand their current tech stack and the implications of leveraging AI. As AI is integrated into jobs and roles, the skills required will change necessitating training and development and job design. Data and data integrity is increasingly important. Leveraging AI and data to provide better information for decision making requires a new approach and skill set for HCM leaders.
Employees have greater expectations of their employers. The traditional employee and employer relationship has been redefined as employees feel empowered to drive change, They are concerned about equity, flexibility and work/life balance, but they are also concerned about environmental and social justice. If employees are not happy, they will let you know. If they don’t get satisfaction, they will turn to social media and other forms of activism. If an employer isn’t responding in a timely and authentic manner, then employees are turning to unionization as the Amazon and Starbucks cases exemplify.
In the past HCM professionals focused on specific areas of expertise. With the rise of People Centered organizations and the redesign of systems to support them, HCM professionals require a more networked system supported by an integrated technology platform. Providing guidance and advisory support to navigate this uncharted territory is exactly how HRComputes can help.
We have been helping organizations define their HCM vision and roadmap, evaluate their current technology stack, drive data informed decision making, and selectively integrate AI tools. Aligning organizational vision and requirements with digital solutions is our specialty. If you are planning a significant HCM digital transformation in 2024, give us a call.