22 of Our Favorite Stats on HR Strategy for 2024

As we step into the new year, what’s on your 2024 HR bingo card? At this point, I think anything is fair game – yes, even mandatory company-wide virtual reality team-building exercises led by holographic AI facilitators! The only certainty it seems is that the business world continues to evolve; as we undergo a profound transformation in employee relations, new technology, and skills developments – we turn to industry leaders for their 2024 predictions.  

“In 2024, the HR function will be impacted by several key trends: an unsettled employee-employer relationship, persistent skills shortage, transformative technology innovations, and pressure to achieve operational efficiencies”  

Mark Whittle, Vice President of Advisory, Gartner  

This year stands as a tipping point, years post-pandemic which ushered in a continuous restructuring of work combined with emerging new technologies, leaving many questioning when will consistency/normalcy return. And what can they expect next?  

Based on a recent Gartner survey reporting HR leader’s top priorities for 2024, we’ve pulled together 22 new statistics and data points to help guide you for the year ahead. To help you prioritize your 2024 HR initiatives, this blog focuses on three focal points for this year: Employee Experience, Change Management, and Skills Strategy.   

Priority One: Employee Experience Stays Top of Mind 

The employee experience is set to take center stage this year. Enormous demand for career reinvention, development, growth programs, coaching, mentorship, allyship, and support is expected in 2024.  

 According to Gartner research, HR leaders’ top organizational priorities include leader and manager development along with career management.  

If you aren’t yet convinced why employee experience should be your #1 HR initiative for the year ahead, here are some sobering stats:  

  • 86% of HR leaders believe career paths at their organizations are unclear for many employees. 
  • 47% of HR leaders prioritize employee experience, emphasizing the need for clear career paths, benefits communication, and new opportunities.  
  • 44% of companies lack compelling career paths, leading 75% of employees to explore new roles elsewhere.  

By now we know that employee well-being is crucial, with engagement linked to team connection. Even more so in 2024, fostering a supportive work environment will be pivotal for organizational success.  

Make sure that you’re prioritizing projects that will improve your employees’ experience; it will pay dividends in better retention rates and increased employee engagement.  

Priority Two: Change Management, Your Solution to Change Fatigue

Over the past four years, employees have grappled with a frustrating phenomenon – change fatigue – resulting from management teams introducing (and often subsequently retraction) too many initiatives.   

Post-COVID shifts further exacerbate this issue, with nearly half of employees experiencing burnout in 2023. As a result, more than half of HR leaders reported that mitigating change fatigue is a top priority for 2024.  

So, just how serious and widespread is change fatigue? The stats speak for themselves…

 While the data is frightening for teams without a plan, there is a silver lining. This serves as a major opportunity for teams to solidify their HR strategy and put their teams at ease. Addressing change fatigue is well within reach for the majority of teams. Companies that prioritize strategies to minimize fatigue will be able to re-engage a motivated and productive workforce.  

Priority Three – Skills Strategy Eats Your Skills Shortage for Breakfast  

Skills strategy is paramount in 2024. This is clear in Workday’s new Skills technology, which, in the words of HR expert Josh Bersin, “help(s) your organization take full advantage of the insights, capabilities, and opportunities that skills technology provides.”   

As more executives acknowledge a current or expected skills gap, according to a Deloitte survey a whopping 90% of executives are actively experimenting with such practices. 

In case that isn’t convincing enough, here are five more skills-related HR stats:  

 Some people may see skills strategy as daunting, but the payoff is clear. By modernizing your Skills strategy, you will diversify your applicant pool and make your hiring process more accessible to highly qualified applicants.  

In Conclusion: Skills Will Rock Your 2024!  

HR leaders face a rocky landscape filled with challenges in employee experience, change management, and skills strategy. While these hurdles (and the above stats) may seem daunting, they underscore the critical importance of organizational resilience. HR’s success hinges on adaptability, prioritizing employee well-being, and adopting a strategic approach to skills management.   

Recognizing these challenges and meeting them head-on is not just a necessity; it’s an opportunity to foster a resilient, thriving workplace for all. The choices you make in 2024 will not only shape your team this year but also influence the overall trajectory of your business for years to come.  

Instead of waiting for the cards to fall, let’s use 2024 as a time to build our dream bingo card. One where maximizing employee-employer relationships, easing change fatigue, and establishing a robust skills strategy are at the top of the list.  

  • HR Strategy

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