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.