HR BYTES NEWSLETTER

December 2023

Hold onto your mistletoe because our December newsletter is here, bringing you the most magical HR trends of the season! We're taking the groundbreaking ideas from November and sprinkling a little extra holiday cheer. Our newsletter has fresh new ideas that'll excite your HR heart. Think of it as a chance to unwrap the gift of HR brilliance with insights and strategies to help you tackle the new year with a bang! So, let's deck the halls with innovation and embrace a new era of workplace magic!

Microsoft VP of HR: ‘It can’t go back to the way it used to be’

Microsoft's Vice President of HR, Amy Coleman, shared insights at the HR Technology Conference, emphasizing that the future of work is not a return to the past. Instead, she highlighted the importance of building a flexible and inclusive workplace. While many discuss the idea of returning to the office, Coleman sees the world moving forward into the future of work. In her keynote at the Women in HR Tech Summit, she discussed the value of bringing employees together for meaningful moments in fostering flexibility and inclusivity. Coleman's message underscores the need to adapt to a changing work landscape rather than reverting to old ways.

Global leaders advance responsible AI development at Governance Summit

Global leaders gathered at the AI Governance Summit to discuss the challenges and opportunities of artificial intelligence (AI). They emphasized the need for responsible AI development that is ethical, fair, and transparent. The summit also addressed the importance of AI governance in ensuring that AI is used for the benefit of humanity.

Hey HR superheroes, as we step into the year-end crescendo, let's dive into the ever-evolving tale of COVID-19 policies in our workplaces. Let's explore the dynamics and twists, ensuring you're armed with the insights to own the show and be the true hero of the ongoing workplace drama.

A recent survey conducted by Eric B. Meyer delved deep into the essence of workplaces and their ongoing journey with COVID-19 policies.

The findings revealed that a substantial 92% of respondents acknowledged implementing a COVID-19 policy at some point in their business's trajectory; surprisingly, more than half continue to uphold one.

Notably, of those with an active policy, a significant majority—83%—chose the standalone approach rather than integrating it into the employee handbook.

What truly captured our attention is that these policies are not merely stagnant documents. A considerable number of companies are proactively keeping them up-to-date.

Approximately 29% updated their policies this year, 36% in 2022, 21% in 2021, and 14% in 2020.

However, the plot thickens with an intriguing twist: 47% of those bidding farewell to their COVID-19 policies did so in the current year, indicating a perceptible shift in emphasis toward broader workplace safety.

These insights call for thoughtful reflection as businesses continue to adapt in the post-COVID era, prioritizing the well-being of their workforce.

Have you continued to uphold a COVID-19 policy in your workplace? What’s a key learning from formulating the policy that you think everyone should hear about?

Write to us at info@hrgeckos.com and share your policy.

Plus, here are some useful templates as you set your 2024 HR Goals and Objectives from our friends at Talent Edge Weekly.

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Glassdoor’s 2024 Workplace Trends

In 2024, expect trends like the rise of Gen Z in the workforce, potential reduction in non-cash benefits despite wage increases, and a decline in equity compensation. Layoffs' impact on morale lingers, and middle managers may feel the pressure. Companies are cautiously managing top talent during the return to the office, making smaller firms with flexible remote policies more appealing. Generative AI is on the rise for improved productivity, but human interaction remains crucial. Despite challenges, there's optimism for the future as workplaces evolve to meet changing demands.

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How will AI change the Labor Market?

Valuable Insights for HR Practitioners: Navigating the Impact of A.I. on the Workforce. The information provided offers HR professionals crucial perspectives on the changing dynamics within the workforce, including concerns about job automation, displacement of white-collar workers, and the effects on highly educated individuals. As HR practitioners navigate the challenges and opportunities presented by advancements in A.I. within the realm of human resources and workforce management, understanding these trends is essential.

Statement A: Use of artificial intelligence over the next ten years will have a negative impact on the earnings potential of substantial number of high-skilled workers in advantaged countries.

Resposes weighted by each panelist's confidence

Source: Chicago Booth Review
The HR challenge of adopting Responsible AI

Responsible AI involves the ethical and legal use of AI systems for the benefit of individuals and society. Despite the acknowledgment of ethical considerations, HR practices in AI often fall short. The article emphasizes two dimensions: ethical, ensuring AI benefits humanity, and legal, addressing compliance with emerging legislation like the potential EU AI Act 2023. For HR professionals, staying informed about global AI-related legislation is crucial, presenting challenges beyond previous data privacy laws. The piece stresses the need for HR to proactively adopt Responsible AI practices to navigate the opportunities and challenges it brings.

Build better KPIs with artificial intelligence

Business leaders' strategic use of artificial intelligence to enhance the development and utilization of key performance indicators (KPIs) is a big focus going into 2024. Referred to as smart KPIs, these AI-enriched metrics provide a more nuanced and accurate understanding of business operations, offering predictive insights and situational awareness. Drawing from a comprehensive global survey conducted by MIT Sloan Management Review and Boston Consulting Group, the article reveals that executives leveraging AI for KPIs experience improved alignment between various business functions.

The piece categorizes smart KPIs into three types:

1.Smart Prescriptive KPIs. 2.Smart Predictive KPIs. 3.Smart Descriptive KPIs.

The strategic integration of AI in KPIs improves accuracy and enhances coordination among corporate functions, ultimately contributing to superior business performance.

What will artificial intelligence mean for your pay?

A decade ago, economists Carl Benedikt Frey and Michael Osborne stirred discussion by suggesting that 47% of American jobs were susceptible to automation. Recent advancements in AI have heightened these concerns, with Elon Musk foreseeing a future where jobs become obsolete. The article serves as a valuable resource for HR professionals seeking insights into the profound changes AI may bring to the job market, emphasizing the need for proactive measures and adaptability in the face of this economic transformation.

Evolving the CHRO role in a rapidly changing world of work

Mercer’s 2023 Voice of the CHRO Survey, based on responses from over 100 top HR leaders in the United States, reveals key insights. It highlights the challenges and successes shaping Chief Human Resources Officers' effectiveness in a rapidly changing work landscape.

Despite facing significant crises and adapting to fast-paced shifts in business and talent dynamics, CHROs play a pivotal role. The survey emphasizes their ability to shoulder new responsibilities and meet increased demands without substantial additional resources. The report focuses on the preparedness of U.S.-based HR leaders, offering actionable insights for CHROs to enhance their effectiveness. It explores the evolving work landscape, the growing importance of digital tools, and changing expectations for HR functions. In the midst of these changes, the survey outlines vital adaptations for CHROs to stay ahead.

Hold onto your hats, folks, because we're thrilled about our very own HR Bytes podcast! It's packed with inspiring tales from HR heroes who are lighting up the world with their global outlook and local flair. The latest episode of the season (S3E7) features our CEO, Jay Polaki, and the HR Tech Wizard, Tim Whitley, Director of HR Technology at Oklahoma State University. Don't miss out!

They get down with hiring HR unicorns, all while chilling at the Greenhouse booth. And, wait for it, they're not alone! Hebba Youssef, CHRO at Workweek, jumps in too. Grab some popcorn and listen to the full convo here!

We found some new reads to stay ahead of HR and the future of work trends! What is on your HR bookshelf this season?

books

Agile HR: Deliver Value in a Changing World of Work by Natal Dank and Riina Hellström (November 2020)

books

The New Work Exchange: Embracing the Future by Putting Employees First by Scott Cawood (June 2023)

books

Inclusalytics by Victoria Mattingly and Sertrice Grice (March 2022)

books

The Handover: How We Gave Control of Our Lives to Corporations, States and AIs (Kindle Edition) by David Runciman (September 2023)

books

The Worlds I See: Curiosity, Exploration, and Discovery at the Dawn of AI by Fei-Fei Li (November 2023)

It's finally time for snuggly blankets, hot cocoa, and bidding farewell to 2023! But before you get too comfy, let's ensure your company is primed for the new year. Take a peek at your compliance checklist to ensure all required tasks are ticked off before the ball drops. Here are some things to consider:

As of December 15, 2023, ensure the timely distribution of Summary Annual Reports (SARs) to plan participants, specifically for calendar year plans. If the Form 5500 deadline has been extended, promptly provide the SARs to covered employees by the same date.

Season of Giving
extended to Dec 31, 2023!
three winners of the drawing Will Get to PICK A CHARITY to which HR GECKOS will MAKE A donatION!
The rules are simple!

Step 1: Rate and review the HR Bytes Podcast on Spotify. Of course, we appreciate 5-star reviews, but they aren't required.

Step 2: Take a screenshot of your review and send it to us via email: info@hrgeckos.com.

Bonus Step 3: Share your review or a link to our show on your social networks. We hope to see you win big!

The winners will be announced in the January 2024 Newsletter!
December is like a magic wand, waving us towards an enchanting HR journey. It's the time to sprinkle inspiration, celebrate diversity, and light up our creative sparks. So, let's make this December a tapestry of memories by planting the seeds of success and progress. Keep your spirits high, stay curious, and let the good vibes flow! Wishing you a December filled with joy, prosperity, and of course, some happy holidays!
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