1. Mo’ money, mo’ recruiters
A fresh study from Robert Half’s State of US Hiring Survey reveals that 57% of participants have intentions to incorporate new full-time roles in the initial half of 2024. Furthermore, approximately half of employers (51%) are gearing up to boost initial salaries in 2024 to allure adept professionals. Moreover, more than two-thirds (67%) expect to hire contract workers as part of their staffing strategy.
2. The need for a retention plan
Retention was everywhere in 2023. Or, was it? In 2023, 23% of the UK workforce expected to change jobs within the next 12 months, up from 18% in 2022, according to a PwC survey. “It’s clear that workplace dissatisfaction looms large”, Sarah Moore, Head of People and Organisation at PwC UK, said. “With pay, workload and overall fulfilment at the top of employees’ minds.”
“Organisations who continue to prioritise their people and invest in programmes focussed on wellbeing, flexible working, career progression and more personalised benefits will reap the rewards of employee loyalty.”
“As economic conditions remain uncertain, employers will have less means to respond through pay, so will need to find more flexible and innovative approaches to engaging their staff. Organisations who continue to prioritise their people and invest in programmes focussed on wellbeing, flexible working, career progression and more personalised benefits will reap the rewards of employee loyalty.”
3. Upskilling: AI and soft skills
Since its introduction to the dictionary in 1983, upskilling has been a term in use for several decades. However, the underlying concept predates its entry. Essentially, upskilling serves as a means for employers to support their workforce by facilitating the acquisition of new skills, enhancing existing skill sets, or adjusting to evolving technology and demands. Throughout history, upskilling has played a pivotal role in various aspects of professional growth, encompassing leadership and soft skills.
Throughout history, upskilling has played a pivotal role in various aspects of professional growth, encompassing leadership and soft skills.
In the current landscape of 2024, its significance is notably heightened, particularly in the context of cultivating the technical proficiencies required to excel in technologies like ChatGPT and machine learning. The widespread acknowledgment of these advantages is underscored by recent studies revealing that employers are prepared to offer a premium of up to 40% for individuals equipped with AI expertise.
4. Is 2024 finally the year for DEI?
5. The year of the boomerang
Research suggests that the average Fortune 500 company could save $12 million annually by actively recruiting alumni. Overall, hiring a boomerang reduces time and cost by 53%. But what allows for a former employee to successfully boomerang back through the door? According to Cpl’s Talent Evolution Group’s research, it could be down to insufficient efforts being made to comprehend and address the reasons behind former employees leaving their positions.
38% of employees who left their job stated that they were not requested to provide feedback after resigning from their previous job.
More than half of the surveyed employees (55%) by Cpl’s Talent Evolution Group reported not being invited to participate in an exit interview. Furthermore, 38% stated that they were not requested to provide feedback after resigning from their previous job. Proactive engagement with departed employees and a thorough understanding of the challenges they faced could yield valuable insights. This approach has the potential to enhance retention, boost existing employees’ satisfaction, and mitigate the negative feedback left by departing employees. It could even mean they’d be willing to return in the future…
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