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An evolving workforce has changed what businesses want from their HR departments.
The changing face of HR in 2024 report, commissioned by Sage, revealed 91 per cent of HR leaders have seen their role changed significantly over the last five years.
The report also heard from other C-suite executives, of which 96 per cent of them said the scope of HR’s role had changed dramatically over the last five years.
Looking ahead, 32 per cent of HR leaders expect their roles to change even more so in the next five years, compared to 41 per cent of C-suite executives.
All that considered, what will be the biggest expectations thrown HR’s way in the coming years?
According to the report, the top 10 priorities C-suite executives think HR should be focusing on are:
1. Talent management
2. Financial growth
3. Efficiency and productivity
4. Hybrid/flexible work strategies
5. Diversity, equity and inclusion strategies
6. Technology review/investment
7. Skilling/upskilling of workforce
8. Employee health and wellbeing
9. Organisational design
10. Promoting the business as “a good place to work”
Elsewhere, the report also touched on the role of performance management in light of the “Great Resignation” seen recently in the Australian market.
The vast majority of respondents (93 per cent) said their company has a formal review system in place, with 58 per cent noting that having this process was more important than ever.
That being said, 74 per cent of respondents agreed having formal review processes in place has become more difficult amid a hybrid working environment, with a further 75 per cent worried their current performance management process is now outdated.
“C-suite and HR leaders told us that performance management is one of the most crucial areas of focus following the Great Resignation,” said Tushar Kad, director of human resources at Simeio Solutions.
“Despite most companies (93 per cent) having a formal review system and 58 per cent of leaders thinking performance management is now even more important, 75 per cent of HR and the C-suite don’t believe their current performance management process is fit for purpose.
“Performance management is extremely important. A robust system is like the spinal cord for the body, it connects so many other things that go on in the organisation. Annual appraisal, however, [is] dead.”
The report also explored the biggest challenges facing HR professionals in the years ahead.
