Acknowledging the pivotal role of people strategy in driving digital transformation and overall growth, HR leaders actively navigate the challenge of simultaneously addressing immediate business concerns and preparing for future needs.
This article is a comprehensive overview of insights derived from studies conducted by Darwinbox, Korn Ferry, and Gartner on the key priorities of HR leaders in the APAC region for 2024. Business leaders are placing a high emphasis on talent as a top priority.
Growth and Talent Management
Darwinbox’s report unveils a positive outlook, with 83% of APAC CXOs anticipating revenue growth. This aligns seamlessly with Korn Ferry’s emphasis on balancing immediate needs with future aspirations, recognizing the dual nature of people strategy. Concurrently, Gartner’s insights shed light on the persistent challenge of talent management, with 63% of CXOs identifying the development of capabilities as a significant risk.
Learning agility, collaboration, and curiosity emerge as top priorities in the APAC region. The report indicates that 64% of HR Leaders feel confident about understanding future skills, yet only 50% are certain about their ability to acquire them.
Employee Experience and Leadership
The APAC report underscores the increasing importance of employee experience in HR transformation, revealing that 68% of CXOs prioritize it as a key outcome.
The younger workforce, particularly millennials and Gen Zs, seeks a fast track to leadership and values a partnership approach along with a sense of meaning and purpose in their work.
Globally, leadership development takes center stage as the top HR investment, with 52% of employees emphasizing the significance of good leadership. Emily Szakacs, a Senior Client Partner at Korn Ferry, notes the importance of cultivating the right behaviors and mindsets early on, emphasizing that it goes beyond assessing technical abilities.
Generative AI Adoption in HR Leadership
According to Gartner, 76% of HR leaders globally acknowledge the critical role of adopting generative AI in organizational success within the next 12 to 24 months. Despite the heightened anticipation around AI, particularly generative AI, HR managements find themselves unprepared to implement it.
The urgency escalates with uncertain labor and economic conditions, compelling HR leaders to seek innovations that facilitate flexible HR strategies. Meanwhile, the demand for an enhanced employee experience and human-centric work still prevails.
Numerous solution providers are emerging, HR leaders are confronted with the challenge of selecting the most suitable HR technology. A staggering 60% express uncertainty regarding the impact of evolving technology trends, such as generative AI, on HR and talent. Furthermore, 56% confirm that their current HR technology solutions and strategies do not align with their present and future business needs, indicating the need for a robust evaluation framework
In synthesis, these diverse perspectives underscore the complexity and interconnectedness of HR priorities. As organizations embrace agility and purpose-driven strategies, the role of HR in shaping the future of work becomes more apparent than ever.