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The HR technology market in 2024 was a story of resilience and growth amidst a rapidly changing global landscape. From groundbreaking mergers and acquisitions to the introduction of innovative solutions that redefine talent management, payroll, and employee experience, 2024 has proven to be a year of transformation.
With the increasing complexity of workforce management, HR service providers offer a wide range of solutions to help businesses attract, retain, and manage talent effectively. 10 Best Global HR Services for 2024 1. 10 Best Global HR Services for 2024 1.
As we look to the future, it may be hard to imagine a single day, especially a workday, that won’t involve some mention of AI. Increase exposure to AI tools. To address upskilling needs and foster a culture that embraces new technology like AI, some HR pros are hoping 2025 retires the secret AI user and the uninitiated.
As the Baby Boomer generation reaches retirement age in record numbers, organizations face a significant challenge in maintaining their expertise pipelines. From retirement to renewal “Peak 65” refers to the unprecedented number of Americans hitting the traditional retirement age of 65.
Benefits Administration Simplified: Tailored Solutions for Different Employers September 12th, 2024 Share on Facebook Share on Facebook Share on LinkedIn Share on LinkedIn Benefits Administration can be a complex task, with unique challenges for different types of employers.
Workforce Planning 101: Your Guide to an Effective Strategy October 17th, 2024 Share on Facebook Share on Facebook Share on LinkedIn Share on LinkedIn In today’s rapidly evolving business landscape, effective workforce planning is essential for organizations striving to remain competitive.
According to MetLifes Employee Benefit Trends Study 2024 , 92% of employees want more consistent care from their employers. Additionally, retirement plan coverage for smaller businesses (under 100 employees) may reach parity with larger companies. This translates to higher absenteeism and reduced workplace performance.
How HR can help Recession concerns Economic uncertainty looms large, with only 29% of CEOs expressing optimism about the global economy, according to the summer 2024 release of Fortune/Deloitte’s CEO Survey. Inflation concerns also increased, rising from 27% to 45% in the most recent edition.
Advertisement - The 2024 Alight Winning with Wellbeing report found that less than half of employees surveyed use the healthcare benefits and retirement contributions their employers offer; the top reasons employees cite for not signing up for such benefits are unaffordability and benefits that are not worth the cost.
Download Complete Report Human resource (HR) trends evolve rapidly, and brokers must stay ahead of the curve to provide the most relevant and impactful solutions to their clients. Trend 1: Continued adoption of artificial intelligence (AI) This year, AI will continue to change peoples personal and professional lives.
While hiring and retaining key talent again claimed the top spot among HRs challenges, human resources continues to broaden its aperture, seemingly driven by external shifts. In 2022, for example, nearly 50% of HR professionals surveyed were focused on hiring and retention, a figure that dropped to 36% the following year and 32% in 2024.
5 surprising symptoms of financial stress (and 5 helpful solutions). Employee financial stress has been in the spotlight throughout 2024 amid continued inflation and economic uncertainty. Employers can also consider offering financial benefits such as retirement planning assistance and emergency savings funds.
The department’s rigorous background check process created a paper file for every recruit, sometimes more than 1,000 pages. To address the subsequent security, efficiency, and accuracy issues, the LASD implemented a solution that automated its key HR processes. Think about recruitment, for example.
About 7 in 10 US employees say they’re stressed about money, per PNC’s 2024 Financial Wellness in the Workplace report. Younger generations tend to worry about affording monthly expenses, whereas Baby Boomers tend to worry about if — and when — they can afford to retire. However, not all employees face the same financial woes.
Microsoft’s Viva suite is being discontinued, and soon you’ll see those familiar AI-powered topic cards vanish from your SharePoint pages. Microsoft’s decision to retire these key Viva components affects thousands of organizations that have embedded these tools into their daily workflows. 1,000 employees.
This lens helps focus your recruiting, upskilling, and succession planning efforts. Plan for retirements, resignations, tech disruptions, and industry shifts. Pinpoint the positions that directly impact your strategic successand make sure theyre future-proof. Action step: Create a skills inventory.
The solution? Springboard for Business’s The State of the Workforce Skills Gap 2024 polled 1,000 corporate professionals (in leadership roles) and asked them how they planned on addressing the current skills gap within the following year. Upskilling , and a lot of it. That number has shrunk to just four years.
billion in 2023 , the global AI in HR market is projected to grow at a staggering 24.8% CAGR between 2024 and 2030. This explosive growth reflects how rapidly organizations are turning to AI to transform their HR operations. But what exactly are AI agents in HR? What Are AI Agents in HR? Valued at USD 3.25
“The convergence of cloud technology, integrations and APIs, and the onset of AI and machine learning have collectively ushered in a new era for payroll,” he says. Organizations now recognize that understanding market rates for talent is essential for effective recruitment and retention strategies.
Image: Intel CEO Pat Gelsinger “The Most Consequential Changes in the Company’s History,” Intel Job Cuts Inevitable Intel’s layoff plans for 2024 are a hard pill for us to swallow, but it must be harder still for the company and the affected employees. In light of all this, Intel’s layoff plan for 2024 signals the way forward.
According to Bankrate’s 2024 Emergency Fund report, nearly 1 in 3 employees have $0 saved for emergencies — a clear indication of low financial resiliency. Best Money Moves is a mobile-first financial wellness solution designed to help dial down employees’ most top-of-mind financial stresses.
In fact, according to MetLife’s 2024 Employee Benefit Trends Study, 93 percent of employees consider workplace wellbeing as important as salary. The solution, then, is clear. According to PeopleKeep, the most important resources to employees include health benefits, dental insurance, paid time off and retirement options.
Nearly half of all respondents (47%) in a recent MarketWatch survey claim that 2024 has been the most stressful year of their financial lives. Consistently check in with your workforce to find out what resources will help them best and explain how financial wellness is the solution.
As of 2024, the talent shortage in the US stands at 70% , meaning that a whopping 7 out of 10 employers aren’t able to find qualified candidates for their open positions. The solution? The rise of skills-based hiring is helping close the talent gap in the United States (and worldwide). What is skills-based hiring?
Quick look: Every industry is being introduced to the idea of integrating AI into their daily processes. Though there are many unknowns when it comes to this next phase of technology, AI can be an asset for brokers, freeing up time for them to focus on more personalized strategies and services.
As 2024 comes to a close, HR professionals are rethinking benefits strategy going into next year. Employees look for solutions to their unique problems from building retirement savings to handling unexpected medical expenses. All of these factors mean that employee needs are changing. Your current benefits need to keep pace.
Hiring boomerang employees comes with some interesting benefits: They know the organization and its culture They need less time to be operational Their return may boost employee morale. Potential drawbacks of hiring a former employee again include the fact that they may repeat old (unproductive) patterns and bring a limited fresh perspective.
However, many employees feel their current benefits don’t meet their day-to-day needs, according to a 2024 Wellbeing and Voluntary Benefits Survey from HR consulting Firm Buck. With 1:1 money coaching, budgeting tools and other resources, our AI-driven platform is designed to help bolster employee financial wellbeing.
From AI-driven Tax Day tips to automated tax filing checklists, there are many options for HR to harness tech and ease the burden, boost engagement, and shine this season. Explore AI-driven Tax Day tips to streamline information sharing before the IRS tax date. Use AI to analyze workforce data and offer personalized tax filing tips.
While the latter are transitioning into retirement and reflecting on their legacy, the former shaped the modern workplace as the largest working generationuntil recently. This exposure shaped their appreciation for diversity, authenticity, and flexible, non-hierarchical systems.
HR teams battle slow systems, weak communication, and rigid options, but there's a huge opportunity for change. The tech: AI-driven platforms can analyse employee data to offer these personalised benefits. When we combine AI with powerful benefits platforms, you can meet the needs of more employees, more quickly.
This widespread lack of savings across all demographics threatens workers retirement hopes. As a result, 43% of adults in 2025 would need to borrow money to cover an unexpected $1,000 expense, according to May 2024 polling. The situation for employees is just as dire when it comes to retirement prospects. Try Best Money Moves!
Integrating Employer of Record (EOR) services with advanced HR technology offers a streamlined solution by handling legal employment responsibilities, payroll processing, and benefits administration on behalf of client organizations. Statista forecasts that by 2027, 86.5 million U.S.
Far from thriving, many are fighting to stay relevant and be heard as they are crowded out by fresh talent and the undauntable shadows of AI and automation. There is also the issue of Baby Boomers who are choosing not to retire, holding off the next generation from ascending to their positions within organizations.
LinkedIn Talent Solutions) 2. Mind Share Partners) 78% of HR managers increased their mental health budget in 2025 compared to 2024. PwC) 42% of employers now offer retirement planning workshops as part of wellness benefits. Gartner) Companies using AI-driven wellness tools report 27% higher program participation rates.
EBRIs 2024 Workplace Wellness Survey interviewed over 1,500 American employees and uncovered surprising trends that could shape workplace wellness strategies in 2025 and beyond. Depending on the individual, this could mean anything from contributing to their retirement to getting out of debt. This trend is consistent among employees.
Talent acquisition is highly detail-oriented, especially for enterprises that are getting thousands of applications for each hiring campaign. Resolving these tasks head-on to avoid talent acquisition problems could lead to overlooked talent and wasted recruitment time.
An inefficient benefits package could cause hires to seek out more positive and inclusive environments. Traditionally, employee benefits revolved around perks like vacation time off and retirement plans. As such, hiring managers must proactively respond to the latest employee trends to retain top talent.
That’s where employee value propositions (EVPs) can swoop in as a secret weapon in attracting and retaining quality hires. Gartner outlined 9 Future of Work trends for 2024, with shifting employee value propositions as a critical area. What Are EVPs (Employee Value Propositions)?
Job descriptions are now considered strategic tools in influencing hiring decisions and outcomes, enhancing employer branding, and improving candidate experience. Companies now use data, AI, and inclusive language to create job postings that attract top talent while aligning with business goals. hybrid work options).
Stacey Harris and Cliff Stevenson will begin this webinar by unpacking the 2024-2025 surveys extensive data on implementation and spending plans across the HR tech spectrum. Stacey and Cliff will address questions such as: How can you effectively organize and catalog your companys HR-related tech systems and applications?
In their 2024 State of Hybrid Work, Owl Labs said many employers have been working on enhancing the remote and hybrid experience through training. Another 47% said their companies have increased their adoption of AI, while 46 % have increased their use of employee tracking software.
Boomers will be left to the retirement jobs and positions that best utilize their knowledge and strength while millennials will continue to dominate the corporate world for years to come. Corporate industries are not going anywhere and, at least in the short term, they are likely to stick to hiring majorly from among the Millennial workers.
Imagine walking into a boardroom where HR isn’t just talking about hiring or turnover, but showing how talent dynamics directly influence revenue, innovation, and risk. Practical Levers for Better Decisions Talent Acquisition: Analyze which candidate sources yield the highest performers, not just the most hires.
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