The People Manager Magazine published an article by Amit Jain, CEO of TeamLease HCM. The article highlights:
The workplace and business landscape have evolved rapidly in recent years. HR has faced challenges like the Great Resignation and quiet quitting but is now seeing a positive shift. By 2024, 79% of employers plan to expand their workforce, with HR technology playing a critical role. This technology automates tasks, improves employee experiences, and streamlines HR functions like recruitment and onboarding.
The global HR tech market, valued at $37.66 billion in 2023, is projected to reach $81.84 billion by 2032, driven by AI and other advancements. Key trends in 2024 include generative AI, which enhances talent acquisition, people management, and forecasting accuracy. Ethical concerns around AI use remain important.
Improving employee experience is a priority, with AI tools providing real-time feedback analysis and personalized learning platforms. Virtual reality is also used for onboarding, while employee wellness platforms focus on physical and mental health.
Data-driven decision-making is essential, with analytics tools predicting employee turnover and optimizing workforce planning. Blockchain technology is enhancing HR data security, while cloud-based HR systems offer scalability and accessibility. AI-powered talent acquisition tools are improving efficiency and reducing bias in hiring, reshaping HR practices for a more strategic and impactful future.
Read the complete article at: https://peoplemanager.co.in/key-hr-tech-trends-2024-the-evolving-future-of-the-workplace/
