HR Trends and Tips for SMBs in 2024

In the fast-changing world of work, staying ahead can seem daunting for small and medium businesses (SMBs). But with the right insights and tools, you can build a thriving workplace while tackling the unique challenges SMBs face.

Here are some of the key HR trends shaping 2024 and tips to help your business grow stronger this year.

1. Hybrid Work Is Here to Stay

Trend: SMBs are embracing flexible work models to stay competitive in the job market. Employees expect a mix of in-office and remote work options that promote productivity without sacrificing personal time.

• Clearly define your hybrid work policy to manage expectations.

• Invest in tools that keep teams aligned, such as task management platforms or real-time feedback systems.

💡 Pro Tip: Make performance reviews remote-friendly by adopting tools like Frankli to ensure every employee feels included, no matter where they work.

2. Employee Well-Being Takes Center Stage

Trend: Mental health, work-life balance, and financial wellness are now essential components of employee well-being strategies. SMBs can no longer afford to overlook these areas.

• Start small by introducing mental health days or access to wellness apps.

• Train managers to recognise and address signs of burnout before they escalate.

💡 Pro Tip: Build a well-being program that aligns with your team’s needs. Use anonymous surveys to ask employees what matters most to them.

3. Skills Development Will Drive Retention

Trend: Employees are looking for opportunities to grow in their roles. SMBs that invest in upskilling and reskilling will see stronger retention rates and higher engagement.

• Create personalised development plans for employees with clear goals and milestones.

• Offer bite-sized learning opportunities, such as online courses or internal training sessions.

💡 Pro Tip: Use Frankli’s goal-setting feature to align professional development with company objectives, making growth measurable and impactful.

4. Automation Will Free Up Time for HR Teams

Trend: SMBs are leveraging HR technology to automate time-consuming processes like payroll, performance reviews, and onboarding.

• Start by automating repetitive tasks to free up your team for more strategic work.

• Choose an HR platform that scales with your business needs and integrates seamlessly with your existing tools.

💡 Pro Tip: Platforms like Frankli allow SMBs to automate goal tracking and performance reviews, reducing admin time by up to 30%.

5. Transparent Communication Builds Trust

Trend: Teams are craving more transparency from leadership, especially in times of change or uncertainty. Businesses that foster open communication will see improved trust and collaboration.

• Hold regular team check-ins to share updates and gather feedback.

• Create a feedback culture where employees feel safe sharing ideas or concerns.

💡 Pro Tip: Incorporate real-time feedback tools like Frankli to make communication seamless and continuous.

Why SMBs Should Focus on HR in 2024

In 2024, your HR strategy is your competitive advantage. From engaging hybrid teams to embracing automation, the right approach can make your business a magnet for top talent while reducing churn.

With tools like Frankli, managing HR doesn’t have to be complex. Whether it’s simplifying performance reviews, setting clear goals, or empowering your team with feedback, Frankli is here to help you succeed.

Start transforming your HR strategy today because great workplaces don’t just happen, they’re built.