HR Magazine: The state of the HR profession in 2024
The world of HR is evolving rapidly as businesses grapple with talent shortages, changing workforce expectations, and the need to upskill their people continuously. A recent report from HR magazine , The State of the HR Profession in 2024, provides a comprehensive look at how HR leaders are adapting to these new realities.
Based on a survey of HR professionals, the report highlights critical areas like improving talent mobility, overcoming barriers to robust Learning and Development (L&D) programs, and establishing clear career pathways. Let's dive into the three biggest findings!
Opening new doors: Unleashing internal talent mobility
HR Magazine notes that one of the biggest HR challenges continues to be workforce retention amidst the Great Resignation. While 57% of companies use internal job boards, the survey reveals there is significant room for improvement in promoting internal career mobility. Only half of organizations have processes for employees to directly explore new internal roles without manager approval first.
A Gartner survey found organizations that prioritize internal talent mobility can achieve 33% greater responsiveness to changing skill needs and 16% greater ability to deliver on transformation goals.
HR Magazine recommends creating skills matrices, closer HR-L&D collaboration, and helping employees market their skills. It’s important to create a space to open up the conversation between managers and employees about internal mobility.
With job-hopping becoming more common, providing clear internal growth opportunities is crucial for retaining your company's top talent.
Building a true learning culture
The value proposition is clear - companies that invest in continuous L&D see better employee engagement, retention, and performance. However, the survey found only 38% of businesses have a comprehensive L&D program in place.
The top barriers? Budget constraints, lack of L&D resources/expertise, difficulties measuring ROI, and organizational barriers. HR leaders from consultancies like AfterAthena and 10Eighty emphasize the need for leadership buy-in, updated mindsets, and new investment in L&D.
Recommended reading: The importance of workplace culture
Recommended by LinkedIn
Paving paths to career growth
In today's highly competitive talent market, candidates increasingly prioritize long-term career development and growth opportunities. HR magazine notes, “Whether we like it or not, bias is an inevitable part of being human. There are, however, things we can do to mitigate against it.”
Suki K., head of talent acquisition and Equality, Diversity and Inclusion at AVASK , provides us with the five pillars of continuous development:
By prioritizing career growth, companies can attract top talent, boost employee motivation and engagement, and help to reduce biases.
Check out HR Magazine’s full report to uncover the last two key findings.
Save your seat for our next webinar!
Don't miss our upcoming webinar Skills and Strategies for Tech Talent Growth in 2024 - an essential session for tech leaders looking to develop the talent driving tomorrow's innovations.
On April 17th, our experts Lachlan de Crespigny and Dimitris Adamidis will reveal the core competencies tech professionals need for 2024 and guide you through effective approaches to nurturing a culture of continuous learning within your organization. Stay ahead of rapid industry changes by expanding your strategic talent development capabilities. Register now to reserve your spot!
Written by: Alexandra Paasch