HR Technology Priorities for Leaders in 2024

How will AI affect the workforce? While the answer to that question is in its early days, there are strong signals that a subcomponent of AI, GenAI, will have a profound impact on HR technology priorities in 2024. According to the Deloitte State of Generative AI in the Enterprise report, 96% of CEOs say they’re currently implementing GenAI, or plan to do so soon. Additionally, 79% of leaders expect GenAI to transform their organizations within three years.

Technology can make a difference in meeting the challenges of a hybrid workplace: a world of work in which HR departments, leaders, and professionals need to manage and interact with colleagues virtually across different locations—which in turn means different time zones, cultures, and rules—while providing everyone with equal access to the organization's HR products and services.

In response to ongoing talent shortages, HR leaders are thinking more holistically about the employee experience, from recruitment to departure. Every interaction matters in retaining top talent and driving productivity, and new technologies can play a part—permitting a shift from traditional user interfaces to a natural language-enabled interface that is more personalized, context-aware, and easy to interact with.

According to the Q4 2023 Deloitte CFO Signals survey, cost management is a top three priority among finance leaders. The technology needs of HR leaders are, among other things, a locus of those costs. Those leaders should understand ways to deliver more value per dollar invested. While HR tech budgets are increasing, leaders are expecting much more value from the technology spend.

Do you focus on job descriptions? Or skills? By prioritizing skills, organizations can expand their talent pool and be more likely to find the candidate with the most value for each need. Adopting a skills-based approach is easier said than done, but next gen HR technologies can make the process more efficient and effective.

Data privacy laws and regulations are being enacted across the world, all focused on Keeping employee data secure and confidential. The revised US Cybersecurity Framework adds an emphasis on governance, which in turn affects an organization’s HR function. For HR technology leaders, cybersecurity should be top of mind within their larger initiatives and HR system security should be a priority investment.