2024 has been a whirlwind of change for employers.
From navigating complex compliance landscapes to investing in employee development and embracing technological advancements, businesses have had their work cut out for them!
In this blog, we’ll share our team’s insights on the key HR trends that have shaped 2024 and what we can expect to see in the year ahead. Let’s get into it!
Trends we’ve seen in 2024 (and don’t expect to be going anywhere)
2024 has shaped up to be a year of compliance, internal development, innovation, AI, and more!
Here’s what we’ve seen a stronger focus on amongst employers throughout 2024:
- Compliance. With new regulations hitting Canadian employers left, right, and centre – from accessibility to pay transparency to how businesses use AI in recruiting – we’ve seen our fair share of clients who have needed to revamp their current processes, policies, and practices.
- Internal talent development. Investing in employee growth to foster a future-ready workforce has been a massive focus for employers in 2024. Employers have been upskilling, re-skilling, promoting internal mobility, and succession planning to fill in skill gaps… and we expect that will continue on right into 2025!
- Innovation in traditional industries. Several of our clients in traditional industries, such as transportation and the HVAC space, have seen massive innovation and growth leading up to and in 2024. It’s more important than ever to stay competitive, and to do so many have tapped into grant funding like CDAP to adapt to technological advancements and fuel innovation and growth within their businesses.
- Leveraging AI. This one likely comes as no surprise, but AI has been changing the game for businesses when it comes to streamlining HR processes and improving efficiency. No to mention, AI-powered analytics can be extremely helpful for making data-driven business decisions.
We don’t expect these trends to be going away anytime soon! As we look ahead to 2025, we anticipate even greater emphasis on employee experience, compensation strategy, and data-driven decision making. Keep reading to learn more!
Get these trends on your radar for 2025 (if they’re not already!)
During one of our recent team connects, we discussed several key trends will shape the people landscape in 2025. Here’s what should be on your radar:
- People-centric focus. We will most definitely continue to see employers investing in employee well-being, development, and engagement. Health and well-being have been such a top priority in 2024 and this will only continue to gain momentum!
- Revamping pay philosophies and structures. This is a *big* one. In order for organizations to stay competitive, they’ll need to explore innovative compensation models tailored to their business to attract and retain top talent. This means it might be time to conduct a compensation analysis and audit your business health to assess how you can remain relevant in the talent landscape.
- Pay transparency. As more jurisdictions implement pay transparency laws, you’ll need to adapt your recruitment and compensation strategies accordingly. For example, Ontario has shared that on a “date to be proclaimed,” employers will be required to include salary ranges in job postings and disclosure of AI used in the hiring process.
- Compliance, compliance, and (you guessed it) more compliance. As mentioned, based on recent trends we think it’s safe to say you can expect to see more requirements and stricter regulations imposed on Canadian employers. This could include anything from stricter privacy laws to increased workplace health and safety standards. Not to mention, employers who have implemented new policies, practices, or procedures in compliance with recent legislative changes will have to stay on top of required updates. For example, those who published their accessibility plans in 2023 and 2024 will need to continue to release progress reports to ensure compliance.
- Enhanced DEI and Reconciliation Efforts: Organizations will intensify their focus on diversity, equity, and inclusion, as well as taking meaningful action on reconciliation. This includes implementing strategies to attract, retain, and promote diverse talent, fostering inclusive workplace cultures, and building authentic, long-term relationships with Indigenous communities.
As we wrap up 2024, it’s clear that the people landscape is constantly evolving. Staying informed about these trends and proactively adapting to change can enable you to position yourself, your team, and your business for success in the years to come!
Ready to take the next step? We can help you get ahead! Connect with our team of experts today.