2024 Midyear HR Trends to Monitor

By staying current on HR trends, employers can plan for changing compliance requirements, navigate new technologies and adapt to employee needs. Here are several HR trends to follow during the second half of 2024.

Labor Market Becomes More Employer-friendly

During record-high labor figures in 2021 and 2022, workers used their leverage to demand higher wages, better benefits and more career development opportunities—and were willing to change employers to do so. Today, economic indicators and labor metrics, such as job openings and employee quit rates, have moderated from all-time highs, showing that the worker-friendly employment landscape has recovered to give more leverage back to employers.

More States Prepare for Pay Transparency

Around a quarter of all U.S. workers are currently covered under pay transparency laws, and Illinois, Minnesota and Vermont have new laws set to take effect in 2025. Pay transparency rules have gradually spread and impacted organizations nationwide. Expect more employers to adapt their job posting and pay practices to meet requirements and keep up with worker demands.

AI Continues to Transform the Workplace

In 2024, the use of artificial intelligence (AI) has gained even more traction. Research from Microsoft published in May 2024 found that the use of generative AI had doubled in just the most recent six months. Employers have integrated AI into several job roles and tasks, including HR practices, customer service and software development. However, lingering AI concerns remain regarding privacy, copyright infringement, and discrimination.

Summary

No organization is immune to developments driven by the economy, new technologies and the legislative landscape. As such, savvy employers are already monitoring the latest workplace trends and resonating with the current workforce. Contact us today for more resources.