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3 Takeaways from HR Tech 2024
by Shannen Balogh October 11, 2024
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As the dust settles after HR Tech 2024 in Las Vegas, one thing is crystal clear: the future of HR is being reshaped right before our eyes. From redefining how we approach employee engagement year-round to the evolving partnership between CHROs and CFOs, this year’s conference was packed with game-changing insights. And, of course, AI continues to be both the star and the skeptic’s stage, promising transformation while raising questions about its practical implementation. Here are three key takeaways that stood out and will likely drive the HR conversation into 2025 and beyond.
1. Open Enrollment Year-Round Engagement
The message was clear at this year's HR Tech: employee engagement and benefits satisfaction have taken center stage over traditional “Open Enrollment” messaging.
Many employees struggle to navigate and fully understand their benefits, which can lead to underutilization and dissatisfaction. Rising healthcare costs remain a top concern for employers, pushing HR teams to adopt an outcomes-focused approach.
The key takeaway? It’s not just about having a decision support tool or sending out periodic reminders about dental check-ups. HR teams now demand intelligent, event-driven engagement strategies that empower employees to truly understand and use their benefits effectively. This shift towards engagement marks a new narrative in the benefits conversation, moving away from transactional approaches to more holistic, intelligent support.
2. CHROs 🤝 CFOs
The CHRO-CFO relationship is evolving fast. CHROs are increasingly measured against defined outcomes (ex. employee satisfaction with their benefits), rather than ability to execute processes (i.e. open enrollment completed). CHROs also need to demonstrate the ROI of costs centers like benefits packages and HR software.
At the same time, more than half of CFOs say cost optimization is a top priority in 2025. Moreover, the ownership of HR tech stacks is shifting. IT departments who once may have relinquished HR tech stack ownership to CHROs are increasingly vying for more control, while finance and HR systems are beginning to converge. Rippling, for example, was a prominent player at the expo and is one of several examples of an all-in-one platform serving both CHROs and CFOs. In October, Paylocity acquired spend management platform Airbase, and finance systems like QuickBooks and Microsoft Dynamics are gaining market share in the HRMS and payroll space.
As collaboration across HR and finance continues to build momentum, players in the HR tech world will likely find CFOs as a more common player in their customer relationships.
3. Yes, AI
AI was a prominent topic throughout the conference, but not without its share of skepticism. There were both AI-centered demos and jokes in equal measure across the expo floor. While AI has undeniable potential, the reality is that only about 30% of HR organizations are currently leveraging AI or machine learning in their teams’ daily tasks. The most common applications include writing job descriptions and responding to employee questions.
Interestingly, awareness of AI capabilities varies significantly among major platforms that market them. For instance, 45% of Workday users know they’re benefiting from AI features, while only 16% of ADP users are aware of similar functionalities.
The consensus? While AI holds promise, the HR industry is still in the early stages of its integration, and many organizations are grappling with how to effectively harness its potential without becoming overwhelmed by the hype.
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