It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Greg Guilford, CEO of HR Solutions.
2024 is set to be a big year with the introduction of many new pieces of employment legislation. We’ll see the introduction of a new law that will entitle employees with caring responsibilities to unpaid time off to provide care, as well as greater protection for pregnant workers and those on family leave, and amendments to the Equality Act.
Changes to flexible working rules will come into force and also industry specific legislation such as the Employment (Allocation of Tips) Act and the Strikes (Minimum Service Levels) Act.
The most significant development in employment law will come with the Retained EU Law (Revocation and Reform) Act 2023. We will see reforms to the Working Time Regulations, such as record keeping, and how holiday entitlement and pay is managed and changes to our existing TUPE laws.
It is vital that companies are aware of the changes and make changes themselves to accommodate the new regime.
The new year is also likely to see a continuation of the cost-of-living crisis which is impacting both businesses and its employees.
As companies navigate the challenges of the current climate and candidate demands, recruitment and retention of staff will continue to be a top priority.
Challenges can be eased using apprenticeships, skills-based recruitment, and AI solutions, but candidate demands coupled with an ongoing talent shortage mean recruitment is arguably more competitive than before.
Company culture is vital. You must ensure that your business values are aligned with your employees to retain and attract top talent.
The key is to create a culture within your business that makes employees want to stay, and encourages potential candidates to join, as well as showcases your team, gives the world an insight into your day-to-day operations and recognises top performers.
