The Rising Cost of HR, Battle for Talent, and More Insights from our 2024 Business Leader Priorities Study

There’s no doubt the HR landscape is constantly evolving and as we dive into 2024, HR professionals find themselves grappling with new challenges and embracing novel opportunities. From managing distributed teams to dealing with regulatory challenges, the role of HR has never been more critical — and we have the facts to prove it. In this episode of Paychex PULSE, Alice Bredin, founder and president of Bredin, Inc., shares insights from our 2024 Priorities for Business Leaders Report, including the increasingly integral role of HR administration, where businesses are investing around 600 hours annually. Alongside such a significant commitment in time and finances, companies are also grappling with complex issues such as talent acquisition and retention, risk management, and compensation. Alice provides expert insights on these pressing HR challenges and reveals how businesses are adopting innovative solutions to streamline HR.

 

Topics include:

00:00 – Welcome Alice Bredin

01:24 – Discussion on 2024 Priorities for Business Leaders Report

02:07 – New challenges for the HR sector

03:16 – Importance of leadership development and managing performance

03:55 – Trends in managing performance and skills

05:13 – Varying HR challenges between different industries

07:12 – Insights on HR administration overload and its costs

11:01 – People management priorities

13:22 – Why leaders love to lead

14:29 – The importance of managing risk

15:23 – Wrap Up

 

Don’t forget to download your copy of the 2024 Priorities for Business Leaders Report: https://bit.ly/3O57OPX

 

Join our upcoming webinar to take a deeper dive into the challenges, strategies, and innovative ideas found in our 2024 Priorities for Business Leaders Report: https://bit.ly/4b0QaGJ

 

See how you compare with the leaders we surveyed by completing our two-minute interactive assessment: https://bit.ly/3U69Gvw

 

Need help with the countless HR tasks on your to-do list? Paychex can help: https://bit.ly/43BxPep

 

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.