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As we step into 2024, HR leaders have more opportunity than ever to reshape their workplace to be a one that attracts, retains, and supports a diverse workforce. From the rise of comprehensive benefit packages to the integration of learning and development opportunities, the upcoming year promises a shift in the way HR/People Teams function and are utilized by their companies. Below is a quick overview and exploration of the top benefit trends that HR leaders should not only anticipate but embrace to foster an environment that aligns with the evolving needs and expectations of today's employees.

Rethinking the role of HR

The standard view of HR as a compliance-centric department is outdated. It's not only about handling complaints or overseeing onboarding/offboarding processes. Today, HR is a strategic partner, deeply rooted in individual and collective growth to drive overall business success.

HR must align with the company's long-term goals and play a pivotal role in steering employees—the organization's greatest asset—towards these objectives. This involves providing a supportive space for individuals to discuss their professional goals and hardships, acting as a sounding board, and aiding in career direction. Simultaneously, HR needs to understand their industry's landscape to navigate the evolving job market, upskill the existing workforce, and ensure a happy and engaged workplace through innovative employee programs and competitive benefits packages. In essence, HR's role in 2024 extends beyond traditional functions, emphasizing proactive engagement, strategic alignment, and employee wellbeing to move the organization forward.

The new must-have benefits

To foster a workplace that elevates employee wellbeing and inclusivity, certain benefits have become a must-have for employers. A few to prioritize would be:

  • Miscarriage/pregnancy loss leave – this demonstrates a company's compassion and understanding of the emotional and physical toll of such loss, offering individuals the time needed for healing and recovery.
  • NICU leave – this shows that an employer recognizes the unique challenges faced by parents with infants in neonatal intensive care, providing essential support during a critical period.
  • Menopause benefits – approximately 20% of the workforce is in some phase of menopause transition (The Menopause Research and Equity Act). Companies should acknowledge and alleviate the often-overlooked health impacts of menopause on employees.
  • Fertility and family building benefits – Considered one of the top five in-demand benefits of today, employers must meet the request for family building benefits and ease the financial burden of reproductive health journeys for all types of family structures.
  • Mental health services – over the last few years, there has been a growing awareness of mental wellbeing, so for employers looking to stay ahead of the curve there's no overlooking this benefit.

These benefits enable a workplace culture that values individuals holistically and creates a supportive environment where employees can thrive both personally and professionally.

Developing a culture of communication and continuous learning

HR and People Teams plays a pivotal role in driving company culture, and one of the best tools in their belt for doing so is open and effective communication. There are several ways to increase transparency within the organization, including smaller efforts such as a company newsletter or quarterly Town Halls, to more innovative programs such as Lunch and Learn sessions where different teams across the organization share an overview of what they do and current projects. Additionally, "Meet Your Coworker" chats where people across different teams are paired for one-on-one virtual or in-person hangouts so they can get to know one another as people vs employees.

Simultaneously, HR has an obligation to encourage continuous learning and ensure that the workforce remains adaptable and skilled in the face of evolving challenges. This can be accomplished via technology-driven learning platforms (LinkedIn Learning; Paradigm) that provide accessible and training opportunities across professional, personal, and DE&I skillsets, and enable employees to upskill at their own pace. Consider adding an incentive for the completion of these courses, such as a company recognition or monetary prize, to promote participation. If the right resources are available, an employer should also explore the opportunity to self-create learning courses tailored to the organization. These courses, which could be on the company's mission, values, product, etc., helps guarantee that each team member feels a sense of unification and belonging with the company.

By embracing these tips and trends, organizations can not only attract top talent but also cultivate a workplace culture that adapts to the evolving landscape 2024 is sure to bring. In one quick takeaway, employee wellbeing, inclusivity, and professional growth need to take center stage, and those who strategically integrate ways of accomplishing this will be poised for success this year and beyond.

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