2024 HR Trends: Key Takeaways from the i4CP Webinar

The Institute for Corporate Productivity (i4CP) is a respected source for human capital insights. Their recent webinar, led by Chief Research Officer Kevin Martin and Lorrie Lykins, showcased critical trends and priorities for HR professionals in 2024. Here’s a breakdown of the highlights:

The C-Suite Perspective

CHROs are laser-focused on:

• Leadership Development: Training leaders across the organization is seen as essential for business success.
• Initiative Leadership: HR leadership on ESG programs and other major initiatives is expected to drive results and mitigate scrutiny.
• Culture Metrics: Culture improvement is no longer optional; CHROs must demonstrate its tangible impact on financial performance.

Predictions for HR in 2024

• AI in HR: High-performing companies will strategically involve HR in AI development and implementation. This will have a wide-reaching impact on many HR functions.
• Future of Work Leaders: As jobs rapidly evolve, companies will create focused roles dedicated to managing the future of work and how these transformations impact the workforce.
• Quantifiable Culture: Metrics around both the qualitative and quantitative elements of culture will gain prominence as CHROs push to demonstrate culture’s direct impact on business results.
• Workforce Divisiveness: Lingering macro pressures of the past few years will create divisions within workforces, presenting greater challenges for HR initiatives.

Other Key Roles Weigh In

• Chief Diversity Officers: Focus on alignment with business goals, psychological safety, inclusive leadership education, accountability through tools and resources, and community-oriented communication around diversity.
• Chief Learning/Talent Officers: Prioritizing democratized learning, career pathways, skill-focused approaches, AI-driven insights, equitable development experiences, and data-driven decision-making are emphasized.
• Chief Data/Digital Officers: The rise of “AI Officers” is tied directly to increased use of generative AI. HR functions most likely to see initial AI use include talent acquisition, learning, and rewards.
• Talent Acquisition Leaders: Workforce planning, balancing AI implementation, EVP refinement, skills-based hiring, early career program adaptation, and bias reduction sit top of mind.
• Total Rewards Leaders: Pay equity, compensation aligning with shifting priorities, personalization through AI, values-based benefits, and rewarding positive leadership outcomes are areas of emphasis.

It’s an Exciting Time in HR

While HR professionals certainly face complex challenges in 2024, there is tremendous opportunity. Utilizing data, prioritizing culture, embracing AI, and fostering collaboration will be critical strategies for driving organizational success. i4CP continues to be a vital resource for staying ahead of the ever-evolving world of human resources.