7 People management trends for 2024

18 de December, 2023

Human resources management is an area that is constantly evolving. And the last few years have been proof of that.

From the pandemic and the emergence of new working models, to the growing importance of technology and artificial intelligence, to the entry of new generations with different expectations in the labor market… The challenges for human resources managers are ever greater.

According to the study “Total Compensation 2023”, published by Mercer, the turnover already exceeds pre-pandemic levels and most companies are finding it difficult to retain talent.

That’s why it’s important to keep up with trends in people management and incorporate relevant measures that allow organizations to maintain their attractiveness on the job market and in the sector of activity in which they operate.

1 – Employee experience and people first culture

An organizational culture centered on its people – on their experience and involvement – should be one of the top priorities for companies in 2024.

Those in charge need to shape a work environment in which people genuinely want to be present and to design an overall satisfying employee experience: one that promotes work-life integration the personal and professional development of employees, their physical and mental well-being and their quality of life. If professionals don’t find these characteristics in your company, they are likely to look for them elsewhere.

Take advantage of technology to optimize the employee experience:

• Introduce gamification logic into onboarding processes or initiatives to promote physical activity, for example;
• Use AI to personalize and improve skills development programs.

2 – Demographic and psychographic diversity

The job market is more globalized than ever. Teleworking, and the digitalization of many businesses and functions, are blurring physical borders and allowing professionals to work for companies anywhere in the world, regardless of their nationality or where they live.

More traditional perspectives on the workplace and working models need to be rethought and companies need to be flexible and adaptable.

What’s more, organizations can potentially be made up of four generations of workers: Baby Boomers, Generation X, Millenials and Generation Z. It is necessary to manage this diversity and meet the different interests and expectations, valuing the experience of older employees and boosting the potential of younger ones.

3 – Focus on diversity, equity and inclusion (DEI)

In 2024, promoting diversity, equity and inclusion should continue to be a priority for organizations. 84% of Portuguese workers say that their company should pay more attention to diversity and inclusion and, therefore, this is a fundamental aspect for their experience, their involvement with the organization and their sense of belonging.

Measures to consolidate diversity, equity and inclusion in your company should include:

• Eliminating deep-rooted prejudices in recruitment processes and employee promotion.
• Provide training for employees on unconscious bias, intercultural awareness, tolerance and inclusion.
• Evaluate and review company policies that may not be in line with diversity, equity and inclusion goals and best practices: for example, possible pay disparities between men and women, unequal access to opportunities, inclusive hiring regardless of the gender, age, nationality, race, religion or sexual orientation of candidates, among other aspects.

4 – Flexible benefits

Human capital in companies is not only becoming more diverse, but also more qualified and demanding in its relationship with employers. This is true in many spheres, particularly with regard to remuneration and benefits.

Find out what your employees’ goals and expectations are with regard to their remuneration conditions and non-salary benefits. These objectives and expectations are likely to vary from person to person, depending on their interests and stage of life.

That’s why you should design a flexible benefits plan that meets individual needs: for example, health insurance, childcare benefits for those with young children, education support benefits for those with school-age children, training support benefits for employees who want to develop their skills, health and social support benefits to cover your own expenses or those of family members, mobility support, and so on.

Evaluate the effectiveness of your company’s benefits plan so that they remain relevant and attractive.

5 – Well-being and mental health

According to a study by the Portuguese Laboratory for Healthy Work Environments, 80% of professionals in Portugal have at least one symptom of burnout and half already have three symptoms: exhaustion, sadness and irritability.

This is a context to which companies cannot remain indifferent and which will have to be a priority in 2024. A holistic approach is needed to promote well-being in the workplace, whether in the company or at home. This must necessarily include:

• Listen to people regularly and be aware of their unique characteristics and needs.
• Encourage physical activity through protocols with gyms or other sports facilities, internal competitions in various sports, yoga or pilates sessions, etc.
• Provide mental health support resources, such as access to psychotherapy appointments or stress management programs.
• Providing workshops and training on emotional intelligence so that people can develop interpersonal skills such as collaboration, empathy, conflict resolution, etc.
• Promoting work-life balance by offering flexible working hours and patterns, extra vacation days and eliminating an organizational culture that pressures employees to work too many hours.

6 – Continuous learning: reskilling and upskilling

As the different sectors of activity evolve, the functions performed by professionals also require adaptation. It is essential that companies give employees all the tools they need to update their knowledge and skills and adjust them to the needs that arise.

In 2024, retraining and continuing training programs will have to be seen as an investment that contributes to employee productivity, satisfaction and retention. Ultimately, for the competitiveness and growth of the organization itself.

7 – Concerns about sustainability

Ethical and sustainable practices carried out by companies are also becoming major factors in attracting and retaining human capital. Professionals favor socially responsible companies that are aligned with ethical and transparent conduct, environmental preservation and involvement with local communities, among other aspects.

Organizations that are intrinsically committed to these principles, and demonstrate this commitment to society, are more valued by candidates and by their own employees, who feel more motivated and involved in this purpose.