Patrick Gentry, CEO of Sprout Solutions, welcomes HR and business leaders to the latest State of HR Summit 2024.
From the Great Resignation to the Quiet Quitting phenomenon, several workforce trends have significantly shifted HR practices. Sprout Solutions, the Philippines' most trusted human resource technology (HR Tech) provider, unveiled its highly anticipated annual State of HR report during the event held last June 19, 2024, at the Marquis Events Place, BGC.
The State of HR Summit included insightful keynote speeches and panel discussions featuring prominent industry and business leaders to discuss current trends and best practices in the rapidly evolving areas of employee acquisition, engagement, and retention.
"Based on an extensive online survey of over a hundred HR professionals and managers and nationwide employee data in the Sprout system, the 2024 State of HR report emphasized the expanded role HR plays as a catalyst in shaping an organization's digital agenda," says Atty. Arlene De Castro, chief people and customer officer of Sprout Solutions. "Our report provides key insights to help promote the continuous integration of AI and digital technologies so employees can do their best work."
Key priority areas
The State of HR Report findings show that focusing on addressing employee wellness, such as Stress Management, Employee Counseling, and Flexible Work Schedules seems to be a key strategy to drive employee satisfaction and long-term retention. This trend also signifies a growing recognition of the positive impact of technology and data in promoting employee well-being, offering a promising future for HR practices.
When it comes to Tech Adoption, the top 3 HR tech tools adopted by organizations are HRIS systems, Online Learning Platforms, and Payroll Software. Survey results also indicate that 72% have moderate to high satisfaction with current HR-related tools and software, providing a reassuring confirmation of the effectiveness of your current practices.
As 91.8% of Filipino workers experience financial stress and anxiety "sometimes," based on our 2024 State of Financial Wellness report, there is a pressing need to boost employee satisfaction and retention through comprehensive wellness programs.
"As we navigate the digital age, it's clear that embracing technology and AI is critical for organizational success," said Patrick Gentry, CEO of Sprout Solutions. "By embracing digital transformation, prioritizing employee well-being, and ensuring government compliance, companies can create a more engaged and productive workforce."
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