Nine out of 10 HR and learning and development leaders expect recruitment and retention challenges to persist worldwide in 2024, confirmed a new survey.
Most leaders (88%) also believe it will be harder to retain their best people this year, confirmed the study carried out by global leadership development, consulting and coaching firm Blanchard. Approximately 70% also indicated that executive development would be an important goal for their organisation
Blanchard’s fifth annual 2024 HR/L&D Trends Survey Report, includes responses from over 1,000 leadership, learning, human resource and talent development professionals from 20 industries in 80 countries.
RECRUITMENT & RETENTION CHALLENGES
The aim of the study was to discover the HR/learning and development challenges that companies are facing in the post-pandemic world. Additional data was collected on AI’s impact on HR/L&D, the evolution of training modalities, budget expectations, measuring the impact of training, and leadership competencies that will be needed in the future. When asked to share some of the biggest challenges they faced this year, some of the top responses included:
- Attracting and retaining talent with the necessary skills and experience to be competitive in the market.
- Strategy and measurement of aligning talent development with business objectives.
- Skill development to increase individual capabilities to keep pace with the rate of change.
- Managing budget, time and resource constraints.
- Creating a positive employee experience and maintaining levels of engagement.
ENGAGING & DEVELOPING TALENT
The need for ongoing, personalised, and social learning integrated into the working lives of leaders also represents a major challenge for HR/L&D professionals. Having adequate staffing and technical resources is also top of mind for the coming year.
“We asked specifically about the most needed leadership competencies in 2024. It was no surprise that engaging and developing talent remains high on the list, but leading and supporting change initiatives, coaching people through challenges, communicating clearly, and driving innovation all indicate the larger role that leaders will need to focus on,” shared Dr Jay Campbell, Chief Product Officer and Head of Research at Blanchard.
MANAGING WORKFORCE EXPECTATIONS
“The year ahead will be a one-step-at-a-time journey for HR and L&D professionals around the world. Executives everywhere will be exploring ways to move forward during a time of accelerated change,” stated David Witt, Director of Content at Blanchard. “The war for talent, the challenge of employee retention, the uncertainty of AI, and raised expectations of today’s workforce have all combined to put a renewed interest in the role leaders play.”
A free eBook that summarises the report findings is available to download here.
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