As we navigate through 2024, it’s clear several key trends are shaping the landscape of HR and recruitment. These trends reflect the evolving needs of the workforce, the impact of technological advancements, and the importance of fostering inclusive and supportive work environments. Here’s a closer look at the most significant HR and recruitment trends this year:
Hybrid work models/flexible working: Flexible working allows employees to adjust their schedules to better fit their personal lives, leading to improved work-life balance. This can result in lower stress levels and higher overall job satisfaction, and employees who have control over their working hours often report higher productivity. Likewise, eliminating or reducing commute times can significantly lower stress and save time. Both employees and employers can save money with flexible working arrangements; employers can reduce overhead expenses related to office space and utilities. Offering flexible working options can make a company more attractive to potential employees, especially those who value work-life balance. It also helps retain existing employees by providing them with these benefits. When recruiting, it opens the talent pool if geography is not a restrictive factor; the best talent can be sourced from far and wide.
LinkedIn Talent Solutions writes, “There’s little doubt that employers are calling workers back to the office in droves. But something else is clear too: These policies will make it harder for employers to hire top talent. That’s because having a flex work policy yields a larger talent pool, more job applicants, and a better employer brand.”
Corporate alumni programmes: These are gaining popularity as companies recognise the value of maintaining connections with former employees. These programmes help organisations build a network of "boomerang employees"—those who return to a previous employer after exploring other opportunities. Maintaining positive relationships with former employees can lead to new business opportunities, enhanced employer branding, and a warm talent pool ready for rehire. Those returning to the business have a compelling story to tell, which is very effective when marketing the company as a desirable place to work. Highlighting these employees demonstrates strong employer branding capabilities.
Intersectionality in DEI Initiatives: Organisations are focusing on intersectionality within their diversity, equity, and inclusion (DEI) initiatives. This approach acknowledges that employees have multiple, overlapping social identities that influence their workplace experiences. By considering intersectionality, companies can create more inclusive and supportive environments. In turn, this makes for a more productive and better-supported workforce. HR teams are focusing on how their recruitment drives can be more accessible and inclusive, considering best practises around engaging and supporting a diverse applicant base. This involves the entire candidate journey, from the way a job advert is written and advertised, to the onboarding process once a candidate is hired. They should feel supported and accommodated for every step of the way.
Data-Centric Recruiting & the Rise of AI: The use of advanced data analytics in recruitment is evolving. Modern recruiting now emphasises strategic metrics that align with business outcomes rather than just traditional tactical metrics. This shift helps recruiters develop more precise hiring strategies and better align talent acquisition with organisational goals. Predictive data is expected to make an impact, as companies can predict the need for resources and allocate time, budget and workload accordingly ahead of time.
As for AI, it has had a significant impact in the recruitment world, particularly for filtering CVs. However, to maximise the potential of AI, human oversight and involvement is key; an algorithm cannot have empathy, or fully account for bias, so constant regulation by a person is crucial in maintaining the right balance of human touchpoint to technological aid.
Gen Z Entering the Workforce: As Gen Z begins to enter the workforce in greater numbers, their preferences are reshaping recruitment practices. This generation expects fast, virtual, and streamlined hiring processes. Recruiters need to adapt by implementing mobile-optimised application processes to attract and engage this demographic effectively.Most will see job ads online across social media – and they’ll clock impressive branding and a solid social media presence.It’s important for companies to consider their talent value proposition (TVP) in light of this younger workforce, and ensure their benefits incorporate multi-generational interests and concerns. For example, flexible and hybrid working, enhanced maternity and paternity leave, and the number of holidays. Crucially, workplace culture ranks as important; Gen Zis less likely to “stick out” jobs that aren’t working for them, particularly if it involves leadership that doesn’t align with their values. It’s the role of HR to balance multi-generational workplace wellbeing and ensure everyone can be their selves.
Focus on Wellbeing and Company Culture: Post-pandemic, there is a renewed emphasis on nurturing company culture and employee wellbeing. Organisations are investing in creating supportive and resilient workplace environments to enhance employee engagement and performance. This focus is seen as a strategic investment in the long-term success of both employees and the organisation. This may take the form of mental health support, discounts to gyms, flexible working, days with no meetings, dog-friendly offices. The most successful organisations will engage their employees in these decisions – who are more qualified to answer these questions than the employees it will benefit?
These trends highlight the ongoing evolution in HR and recruitment practices, driven by technological advancements like AI and data analytics, changing workforce demographics like gen Z altering the workforce, and a deeper understanding of diversity and employee wellbeing and how much of a differentiator it is for people considering their career and company options.
HR Division
NRG's HR division stands out in the industry by capitalising on its extensive professional networks to provide clients with unparalleled access to a vast talent pool of HR professionals. Leveraging these robust networks, we ensure that our clients have access to exceptional HR talent spanning the entire spectrum of roles and seniority levels. Whether our clients require expertise from seasoned advisors or strategic vision from directors, we are dedicated to delivering top-calibre candidates tailored to their specific needs. Through our relationship-driven approach and commitment to nurturing talent, we create mutually beneficial connections that drive professional growth and organisational excellence.
Get in touch with Catherine Hingston, our Associate Director of HR Services, here.