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Navigating HR Priorities in 2024: A Guide with LIVD

Explore the top HR priorities for 2024 and learn how LIVD can enhance your strategies in remote team management, upskilling, wellness, talent retention, and building a positive team culture. Stay ahead in creating an engaging, productive workplace.
Navigating HR Priorities in 2024: A Guide with LIVD

The role of HR leaders is constantly evolving, shaped by changing work environments and the ever-growing importance of employee well-being and satisfaction. As we look ahead in the year, HR leaders face an array of priorities, each with its own set of challenges and opportunities. In this article, we’ll explore the top priorities for HR leaders in 2024 and how they can navigate these challenges effectively, while also discussing how LIVD can assist in addressing some of these priorities.

1. Managing Remote/Hybrid or In-Person Teams

The ongoing shift toward remote and hybrid work environments presents HR leaders with the challenge of effectively managing and engaging teams, regardless of their physical location. Ensuring that employees remain connected and productive is a key focus. Offering employee perks, such as work-from-home allowances and flexible scheduling, can enhance their work experience.

One of the biggest challenges teams are facing now is whether to offer fully remote work, have your team in the office full-time, or a mix of both. Each has its pros and cons, and really depends on the needs of your business, your company culture, and the work you’re doing. Employees want flexibility and choice. According to data released from Cisco, it found that 81% of Canadians say flexible working models are the main reason in deciding whether to stay at or leave a job.

Ultimately, the data from Cisco and other sources underscores the importance of flexibility as a primary consideration for talent retention and attraction. In this dynamic work environment, organizations that can adapt and offer a range of options to their employees are likely to be more successful in attracting and retaining top talent while ensuring the continued productivity and connectivity of their teams.

2. Learning and Development with a Focus on Upskilling

Investing in training programs and upskilling initiatives is crucial for HR leaders in 2024. Upskilling and reskilling is the top priority for nearly 60% of leadership and development (L&D) pros. Understanding how to utilize AI and other advanced technologies in daily work is equally important. By offering employee benefits, like access to educational resources and upskilling opportunities, HR can empower employees to develop new skills and stay competitive in the job market. As you plan for 2024 and beyond, think about setting aside a budget for investing in employee training programs, or offering ways for your team to upskill. 

3. Wellness & Mental Health

Employee well-being has emerged as a paramount concern for HR leaders, marking a shift towards a profound emphasis on holistic wellness and mental health initiatives. The 2022 Benefits Canada Healthcare Survey revealed compelling statistics, showing that 86% of benefits plan sponsors and 75% of plan members say their workplace environment supports mental wellness. This endorsement underscores the evolving landscape of corporate culture, where organizations are increasingly prioritizing their employees’ emotional and psychological health.

In response to this transformative outlook, companies are going the extra mile by offering an array of employee perks, ranging from comprehensive corporate wellness programs to dedicated mental health support. These initiatives not only aim to bolster the well-being of their workforce but also extend valuable incentives that encourage employees to make their health a top priority. Such measures not only improve individual lives but also contribute significantly to the cultivation of a positive and cohesive team culture, where employees feel genuinely valued and supported. As the corporate world continues to adapt and evolve, employee well-being remains a pivotal pillar of organizational success.

4. Talent Acquisition and Retention

Talent acquisition and retention continue to be central concerns for HR leaders. Offering fringe benefits, and competitive compensation packages, employee rewards programs, and employee recognition programs, can help attract and retain top talent. Highlighting the benefits of employee retention, including lower turnover costs and a more stable workforce, is crucial.

5. Employee Experience and Team Culture

Creating a positive and supportive team culture is at the core of HR leadership. According to the 2022-2023 Gallagher State of the Sector Report, creating an inclusive workplace where employees feel valued and energized is ranked one of the top purposes for fostering culture and belonging. Company benefits and best employee benefits, including unique employee perks and benefits administration, contribute to a robust employee experience. Employee recognition programs and corporate wellness programs can foster a sense of belonging and appreciation within the organization.

How LIVD Can Assist HR Leaders:

LIVD is a platform for employee fringe benefits, designed to address many of these HR priorities. HR leaders can use LIVD to allocate monthly benefits, offering a variety of work perks and employee benefits tailored to individual employee preferences. This empowers employees to choose benefits that align with their well-being and personal growth goals, whether they are part of remote, hybrid, or in-person teams. By integrating LIVD into their benefits program, HR leaders can create a more engaging and supportive work environment, ultimately contributing to the achievement of these 2024 priorities and beyond.

In conclusion, HR leaders in 2024 have a dynamic set of priorities that encompass remote work management, learning and development, wellness, talent acquisition, and employee experience. By addressing these challenges proactively and leveraging platforms like LIVD to enhance employee benefits and well-being, HR leaders can position their organizations for success and create a positive and supportive work culture.

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