Labor Trends Outlook for Talent Acquisition and Workforce Planning Teams in 2024

Almost six months have elapsed in 2024.? One of the leaders I met at a conference recently asked me what labor topics may dominate talent acquisition and workforce planning in the reminder 2024.

Continuous G&A Cost Optimization: The workforce planning discussions are expected to be dominated by a blend of nearshore solutions and AI-driven automation. Leaders are increasingly considering nearshore locations like Mexico, Eastern Europe, and Southeast Asia and exploring automation opportunities with generative AI.

The Role of I/O Psychologists:? The role of Industrial/Organizational (I/O) psychologists in Human Resources is likely to increase as we gain a deeper understanding of the ethical considerations and responsible use of AI in handling datasets for generative AI experiments. Ensuring ethical standards and responsible data use is crucial as generative AI becomes more integrated into HR practices. Many HR organizations lack the expertise to navigate these complex issues, highlighting the growing need for I/O psychologists who can provide valuable insights and guidance in this evolving landscape.

Super Human Capabilities of Existing Roles:? Mapping super capabilities for existing roles is essential. For instance, consider the role of a Financial Analyst. AI does not diminish the importance of the human role; rather, it enhances it. Analysts are expected to handle more scenarios, conduct comprehensive risk modeling, and make longer-term forecasts. Identifying these super capabilities is crucial for maximizing the human workforce's and AI's potential.

Nostalgic Workloads Humans tend to remember and develop a fondness for executing certain types of workloads. For example, humans traditionally carry out product ideation due to its creative and collaborative nature. As AI becomes more integrated into the workplace to enhance productivity, HR leaders will be responsible for facilitating this transition. HR leaders must ensure that employees are properly trained to work alongside AI, leveraging its capabilities while maintaining the human touch in innovation and creative problem-solving areas. This balanced integration will be key to maximizing productivity and maintaining employee satisfaction. (Juelfs, M. (2024). Preparing for the (Non-Existent?) Future of Work. In Oxford Handbook of AI Governance (pp. 746-776).

Reimagine Learning:? There are often two approaches to taking an exam. One can either learn everything in the textbook and reproduce it during the test or learn the foundational concepts and train to apply them effectively. Unfortunately, the courses offered through our internal LMS currently follow the first approach. We need to transition to the second approach quickly. This presents a significant challenge and opportunity for HR leaders. Concepts of Skills Adjacency, Skills Velocity, and Skills Interpretation become very critical.

Clearer areas of 100% Automation Emerging that will increase HR complexity: Integrating AI and robotics has revitalized maintenance functions, where certain jobs could become fully automated. As a result, floor supervisors may need to manage multiple machines and acquire basic robotics knowledge.

Emerging Skills and Difficulty in Hiring Skills:? The convergence of technology is creating newer skills and opportunities. Draup is creating very targeted papers for the industry. Here is an illustration of the skills that we believe will be at the intersection of AI, Cloud, Robotics, and IoT that all companies may have to acquire

?Summary:?The second half of 2024 is going to be very busy for Workforce Planning and TA leaders where we have to pursue scientific and data-driven journeys.