AI, Data-driven hiring practices, nearly double-digit pay hikes to mark HR ways in 2024
Data-driven hiring ways, inclusive and diversity-focused practices and nearly double-digit salary hikes are likely to leave their stamp on the human resource landscape in 2024 as companies continue to scout for the right talent amid economic uncertainties. Over the last few years, the expectations of candidates and employers have changed dramatically. Employees want workplace flexibility, a greater emphasis on diversity, and impartial hiring processes, while companies are eager to provide fair, engaging and streamlined candidate experiences to attract and retain top talent, according to experts.
Designing comprehensive well-being programmes, including flexible work arrangements, inclusive culture and work-life balance policies will be among the priorities for companies.
Experts said that data-driven hiring will be one of the key trends that will redefine the HR landscape.
AI-powered tools will revolutionise HR practices by automating repetitive tasks and providing personalised employee experiences, they added.
"As we move to 2024, increased focus on managing an inclusive and equitable organisation is likely to take centre stage," said Sudakshina Bhattacharya, President and CHRO of HDFC ERGO General Insurance.
The year 2023 was challenging in terms of employment outlook across multiple industry sectors. Edtech employees suffered the most, led by Byjus, followed by many other companies in the same vertical.
The IT sector also remained cautious, and many large companies were laying off employees all through the year. Alongside sectoral issues, many employees were also not sure of how AI (Artificial Intelligence) and ML (Machine Learning) technology will impact their employment and careers.
"While the Indian economy is going
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