This report aims to empower decision-makers with actionable

insights from organizations that hired in 2023, enabling them to

align their strategies with the evolving demands of a
competitive and ever-changing global marketplace

It unravels the trends, challenges, and opportunities that will

define the future of talent acquisition in 2024 and beyond
Sourced from 12,200+ C-suite executives,HR leaders, employees, and investors
 The world of work is in full metamorphosis

New Boardroom Discussions

Will Gen AI produce a real productivity Yet with less than

one-third very confident they can
lift? make human-machine
Canthe increased risk exposure be teaming a success, navigating the
effectively managed, and is it worth it? future of work will
What will be the permanent impact on require attention to persistent
the competitive landscape? people issues

Changing Priorites for Global Leadership

The societal dynamics emanating from

the last few years (including louder calls
for fair pay, better working conditions,
and less environmental impact) are
aggressively reshaping the work
contract.
Leading companies are rethinking their
People practices, and leveraging greater
talent science to ensure a more
sustainable, equitable and intuitive work
experience.
Priority #1
 The rapid rise of human-machine teaming presents an urgent opportunity to re-examine the productivity equation.
The Productivity Code Leading companies are complementing emerging technologies with agile talent models and human-centric work
design — both crucial in reshaping how work gets done and quantifying the value delivered by each worker.

Employees report that one-third

Elusive Productivity Gains Despite Technological of their work today is mundane and
Advancements repetitive, presenting an obvious
opportunity for process and
cognitive automation.
New technologies are often not effectively integrated
into work processes, and employees receive They see the potential of human-
insufficient support to adopt new ways of working. machine teaming to mitigate some of
the most pressing talent risks of our
Traditional measures of productivity, such as hours time-constrained supply, rising
worked versus output, do not accurately reflect the labor costs, ineffective talent
complex and long-term value employees contribute. mobility, low workforce energy
levels, and more.
Many employees feel less valued and more
replaceable since the pandemic, indicating a
disconnect between their contributions and
organizational recognition.
The pandemic sparked a more inclusive
model of productivity — and executives A significant portion of business leaders acknowledge
understand that a continued focus on that current productivity metrics fail to capture the full
workforce upskilling/reskilling, employee well-
being, and process/workflow optimization will value of employees' work.
be required to boost productivity in 2024 and
beyond
 ""Leading companies recognize that AI is just part of the
"Raising productivity through AI is top of mind for executives but
equation. They are taking a holistic view to address drains on
the answer does not lie in technology alone. Greater workforce
productivity and deliver greater agility through new models of
productivity requires intentional, human-centric work design."
human-machine teaming."

Using talent insights to make more informed decisions

Employee trust has declined across the board Employee experience is a top priority

Trust in employers dropped in 2023, impacting employees' energy, sense Thriving employees (2.6x more likely to perform well) require HR-driven
of purpose, and intent to stay; fair pay (34%) and career development work redesign, with 96% of companies planning HR functional changes
(28%) are key retention factors. this year.

Resilience will be vital in the coming years Investors value engaged workforces

Employee burnout is a major concern (82% worried), making work

redesign crucial—high-growth companies (51%) are leading in well- Investors prioritize trust and fairness in organizations as critical for
being initiative. sustainable long-term value.

92% Recognize Reskilling as a Competitive Advantage

Increased Reskilling
90% of Businesses Struggle with Skills Gaps

Organizations are increasingly adopting AI to enhance candidate

AI-Powered Recruitment screening and matching processes
 The evolution of the employee/employer relationship
Past Focus Past Focus Current Focus Future Focus
Retain Motivate Recover Energize

Loyalty contract Engagement contract Thrive Contract Lifestyle Contract

(transactional) (work and workplace centered) (whole person consideration) (LifeX — life experience)

Basic needs: Psychological needs Well-being needs: Fulfillment needs:

Pay, Benefits, Security Achievement, Camaraderie, Purpose, Equity, Impact Choice, Connection,

Pay and benefits for time Meaning Healthy experiences in Contribution

and output Broader set of rewards (pay, exchange for a commitment Total rewards that include

Workers are assets to be benefits, career, experiences) to organizational renewal flexibility and employability in

retained in exchange for People and machines work exchange for the promise of

organizational engagement together for maximum value continued relevance

Employees are assets to be creation Partnerships across the talent

acquired and optimized and tech ecosystem for long-

term people sustainability

Taking Action
Threats to trust & equity
Getting started (great for smaller employers)
Enterprise risks
• Brand and reputational damage from
Make trust an enterprise-wide competence. Identify what it means to be a broken promises around ESG and DEI
trusted leader, a trusted advisor and a trustworthy employee/manager impacting attraction

Recharge the EVP by embedding DEI and belonging into all aspects of your • Investor impact and regulatory fall-out by
employer brand. Use internal labor mapping to pinpoint where the EVP is failing failing to abide by reporting regulations and
human capital disclosures
Deliver full transparency by redesigning HR processes, policies and
• Business continuity risk and cost issues due
communications that emphasize the impact of transparency on achieving
to not managing total worker health
business objectives.
People risks
Foster a sense of belonging. Create an environment in which people feel • Loss of institutional/tacit knowledge due to
comfortable bringing their authentic self to work, enable managers to talent leaving at pace
encourage diversity
• Stalled transformations from talent
Celebrate employees’ contributions. Define what great looks like at the stagnation and low engagement
individual and team level. Invest in digital platforms to help colleagues and
• Costs stemming from failing to proactively
managers share positive feedback
manage pay equity gaps
The building blocks of enterprise resilience
Resilient organizations are different from their less resilient peers in three important ways

Increased Resilience Among Organizations: 64%

of executives believe their business can withstand
unforeseen shocks, reflecting a growing focus on
Their HR team building a risk-aware culture with robust
They are skills-ready
advises executives They empower
with an adaptable governance and cybersecurity measures.
on human capital decision making at
pipeline of talent
risks and the local level
opportunities Challenges in Cyber-Risk Management: Despite
2x 1.4x the importance of cybersecurity, only 55% of
1.9x executives are confident in their company's cyber-
risk protocols, with even fewer ensuring effective
employee training and comprehensive
Setting Driving understanding of risk mitigation options.
Equipping
expectations expectations
employees to
through org through
deliver through Balancing Resilience with Agility: Resilient
structure and company
skills and
senior norms and organizations emphasize trust, empowerment, and
competencies
leadership relationships a growth mindset, particularly in adapting to new
technologies and reskilling workers, highlighting the
importance of balancing resilience with flexibility.
 Psychologists have uncovered three factors for highly
effective, trusted relationships: benevolence, competence, Pride in the Purpose A Sense of Belonging
and integrity
One out of every five employees who feel at A strong Employee Value Proposition (EVP)
risk of burnout this year attributes it to a ties the company’s purpose and talent
Benevolence as a business strategy means
misalignment between their own values strategy to employees’ personal experience
Benevolence listening to employees, understanding what they and the values of their employer. at work. Much of this comes down to
want, designing work that brings out the best in Employees are increasingly looking to their fostering diversity, equity, and inclusion
organizations to prioritize social issues, (DEI). In India, Companies like Infosys and
them, and including them every step of the way. diversity/equity, and environmental impact. Tata Steel have been recognized for their
efforts in creating inclusive workplaces.
Competence goes both ways: leaders trusting SUSTAINABILITY AND TRUST Intergenerational Dynamics: Age-based
When asked what they expect from their discrimination remains a significant issue.
Competence that their people have what it takes, and company on sustainability, employees’ top Younger workers are often underestimated
employees trusting that their leaders are being priority was offering minimum health and and undervalued, and older workers are
held accountable. well-being benefits to all workers — yet only perceived as set in their ways or
one-third of organizations have done so. unable/uninterested to learn new skills.
Integrity is “walking the talk,” consistency between Employees’ second priority was sustainable Bringing Authenticity to Work: Employers
investment options in retirement plans, are expanding the objectives of their DEI
words and actions. Radical transparency can help
Integrity
Competence
which was rated by HR leaders as one of initiatives to include fostering a sense of
— especially on decisions such as pay and the most effective ways to make progress belonging — whether employees feel seen,
on ESG outcomes. heard, and valued without needing to
promotion that matter the most to employees.
change who they are.

Feeling Valued for Contributions

Pay Transparency: Pay transparency, especially in job postings, is fast becoming an expectation (not to mention a regulatory requirement in at least 10 U.S. states
and 20 countries), yet only 38% of employees say their organization is transparent about the pay/range associated with each job.
Perception of Fairness: People not only want compensation that reflects their contributions, but they also expect pay equity relative to their colleagues. This is less
about market-competitive pay (which ranks as number six on the list of why people stay) and more about the perception of fairness.
 Cultivating a culture that promotes human-machine teaming in how people learn
Digital Enterprise and collaborate, how data is harnessed, how innovation is encouraged, and how
decisions are made.

Human centered technology

Companies realises the need to be
more digital and hence try to close the Moving from reactive HR processes and
technological gap with digital tools
band-aid tech to HR systems that
However, employees feeling understand human behavior and anticipate
overwhelmed by these tech tools is employees’ needs
the #4 reason for employee burnout
Success is measured in human terms
HR digital transformation initiatives Thoughful change enablement aids in
were not successful. reframing perceived threats and painting a Employees who enjoy experimenting
Because organizations adopt new
picture of what can be with new technology are more thriving
technology without transforming the
Requires more sophisticated commitment to than digital laggard
way they work.
Thriving employees expect their digital
continuous listening and empathy, and
Truly “being digital” requires a future experiences at work to help them find
human-centered tech designed with an the answer, connect with others, and
state vision, business strategy
alignment, and full commitment. authentic UX that delivers results and is a make things easier

joy to use
Business risks in digital world How HR Teams are transforming to support a digital culture

Unintended use and bias People Sustainablity

AI's lack of predictability and Design tech-enabled experiences that deliver on this promise.
explainablity can expose Defining the desired interactions between HR and different persona groups
businesses to risk can help design engaging EX journeys and bring together HR and IT to
deploy tech features that can enhance productivity and relevance in the
Technological convergence workplace
The combination of AI and mixed
reality technologies such as AR Target Interaction Modelling
and VR blurs the line between the There is a natural overlap and intersections among talent attraction,
physical and digital worlds talent acquisition, job and skills architecture, career management,
performance management, learning & development, and strategic
People risk workforce planning.
Employees concerned that Each of these HR disciplines has its own agenda, experience design, and
advances in AI will raise success metric
expectations and put pressure on Skill detection and alignment to the business, time to velocity and
them to work faster or produce overall retention, and thriving at work become better measures of
more — in turn increasing the risk success.
exposure.
Business risks in digital world How HR Teams are transforming to support a digital culture

Unintended use and bias People Sustainablity

AI's lack of predictability and Design tech-enabled experiences that deliver on this promise.
explainablity can expose Defining the desired interactions between HR and different persona groups
businesses to risk can help design engaging EX journeys and bring together HR and IT to
deploy tech features that can enhance productivity and relevance in the
Technological convergence workplace
The combination of AI and mixed
reality technologies such as AR Target Interaction Modelling
and VR blurs the line between the There is a natural overlap and intersections among talent attraction,
physical and digital worlds talent acquisition, job and skills architecture, career management,
performance management, learning & development, and strategic
People risk workforce planning.
Employees concerned that Each of these HR disciplines has its own agenda, experience design, and
advances in AI will raise success metric
expectations and put pressure on Skill detection and alignment to the business, time to velocity and
them to work faster or produce overall retention, and thriving at work become better measures of
more — in turn increasing the risk success.
exposure.
 Companies must redesign work to prioritize people, focusing
Reimagining on their strengths, preferences, and future needs, ensuring
Workplaces they remain healthy, engaged, and employable in the
evolving landscape

Balancing Achieving productivity in the AI-driven era requires a

Empathy and delicate balance between economic goals and empathy,
Economics fostering trust and equity within organizations

Building Organizational and individual resilience, coupled with a

Resilience
Competence foundation of trust, is crucial to navigating the uncertainties
and Trust and risks that lie ahead

Seizing a The upcoming years offer a rare chance to break from

Unique traditional business models and embrace a new era of work

Competence that enhances human-machine collaboration and prioritizes
Opportunity
upskilling and well-being
 Drive Human- Cultivate a
Anchor to Trust Boost the Corporate
Centric Digital First
and Equity Immune System
Productivity Culture

49%

TCS recently implemented HDFC Bank's "Project Infosys has invested in the Wipro has been cultivating
the "Talent Cloud" platform, Future-Ready" includes "Cyber Next" initiative, a digital-first culture
which uses AI to align initiatives to promote focusing on cybersecurity through its "Digital
employees with projects diversity, equity, and and resilience. For HR, this Workplace Solutions"
that match their skills and inclusion (DEI) within the translates into protecting initiative. Internally, Wipro
career goals. This human- organization. By expanding employee data and has implemented
centric approach enhances digital banking to ensuring a secure working advanced HR technologies
productivity by ensuring underserved areas, the environment, particularly such as AI-driven talent
employees are engaged in bank is also reflecting these in remote and hybrid work management systems and
roles where they can excel, values internally through models. The company also virtual onboarding
leading to higher job equitable hiring practices offers training to processes. These digital
satisfaction and retention. and creating opportunities employees on tools help streamline HR
The platform also enables for growth in diverse cybersecurity awareness, operations, improve the
continuous learning and regions. which helps in building a employee experience, and
upskilling, aligning workforce that is secure but enable remote and hybrid
employee growth with also well-prepared to work models.
organizational needs. handle potential threats
THANK YOU