Top HR trends for 2024

From maintaining wellbeing to using the right HR tech, we round up the top trends to help HR leaders get ahead in 2024.

The buzzword for 2024 is AI (artificial intelligence) and specifically generative AI. It’s not new, but it has accelerated at such a rate that machine learning apps such as ChatGPT are all the rage.

That means HR teams all over the world are trying to figure out how best to understand and use them responsibly in the workplace amid a backdrop of economic uncertainty, a tight talent market, and hybrid working.

The following summary shines a light on seven HR challenges and priorities one can expect in 2024:

 

1. Staying relevant in HR

HR teams need to get on board with new technology to make smarter decisions. It’s all about understanding data and communicating effectively to drive positive changes within the organisation.

 

2. Re-evaluating the employee relationship

With a breakdown in the employer/employee relationship highlighted by strikes across the globe in 2023, HR needs to really listen to employees and build genuine relationships. It’s about creating a workplace where employees feel heard and valued, beyond just offering technological solutions.

 

3. Rethinking Manager Roles in a Hybrid World

Managers face challenges in navigating hybrid and remote environments. This requires them to relook their roles with a focus on empowering their teams and improve on their people skills to keep everyone connected and motivated.

 

4. Reconsidering Talent Acquisition

As the talent market evolves, it’s all about nurturing the skills you’ve got. HR’s shifting gears from just hiring to managing talent, with an emphasis on keeping the team happy and up-skilling and re-skilling internally.

 

5. Maintaining Wellbeing in a Digital World

The rapid pace of digital transformation raises concerns about worker stress. HR needs to integrate wellbeing into organisational transformations, ensuring nobody gets left behind. This becomes essential for sustainable change where everybody can thrive.

6. Redefining Diversity, Equity, and Inclusion (DEI)

It’s time for organisations to recommit to DEI efforts, but this time with the help of technology to accelerate progress. We need to change the way we select people and appraise their performance, and talk about values where differences are normalised.

7. Adopting the Right HR Technology

HR’s under pressure to invest in new tech, but it’s not just about the gadgets. It’s about finding tools that add real value whilst keeping things legal and ethical. Let’s try out new tech where it really counts.

 

Embracing AI responsibly

As we look ahead in 2024, the HR industry’s embrace of AI offers exciting new opportunities, but responsible use and training remain crucial. We must ensure that any new tech we take on board still align with our long-term goals, balancing the risks and opportunities cautiously.

Read the full article originally published by Jessica Leyshon for Sage.com

 

Get in touch for more info: info@mrbm.co.za or 031 818 9030.

5 Signs it’s time to outsource your payroll

By entrusting payroll responsibilities to experts in the field, you can streamline your operations.

In today’s fast-paced business landscape, managing payroll can be a daunting task for many companies. As businesses strive to focus on their core activities and enhance efficiency, many are choosing to outsource their payroll processing functions.

5 Signs it’s Time to Consider an Outsourced Payroll Service:

Increasing Payroll Errors

If you notice a surge in payroll errors or inconsistencies, it could indicate underlying issues with your payroll processes. These errors not only lead to dissatisfied employees but also pose compliance risks and may result in costly penalties. The expertise and automation provided by a payroll bureau service provider can help to eliminate these errors.

Concern Around Business Continuity

Relying solely on in-house payroll processing could pose a significant risk to business continuity, especially during unforeseen events such as natural disasters, system failures, or employee absences. An outsourced payroll service offers built-in redundancies and disaster recovery measures, ensuring uninterrupted payroll operations and therefore increased business resilience.

 

Experiencing More Complex Payroll Requirements

As your company grows or diversifies, managing payroll can become increasingly complex. Factors such as correct treatment of pension / provident contributions, fringe benefits, etc. can overwhelm in-house payroll teams. An outsourced payroll service can handle these complexities and adapt to changing staffing needs with ease.

 

Struggling with Compliance and Regulations

Staying abreast of ever-evolving tax laws, labor regulations, and compliance requirements is a daunting task. Failure to comply with these regulations can lead to severe consequences for your business. An outsourced payroll service employs experts who stay updated on regulatory changes, mitigating compliance risks and keeping your payroll processes in line with current legislation.

Administrative Tasks Affecting your Efficiency

Payroll administration involves a multitude of time-consuming tasks, from processing payroll data and generating reports to managing employee enquiries and handling UIF and SARS submissions. Outsourcing these responsibilities frees up valuable time for your HR and finance teams to focus on strategic initiatives and core business functions.

 

Is it time to trust the experts?

Outsourcing payroll can provide numerous benefits for your company, including improved accuracy, compliance, scalability, and time savings. 

Get in touch for more info: info@mrbm.co.za or 031 818 9030.