2024 marks a pivotal point in workplace trends that will shape the future of work. The days of inflexible, “across-the-board” work practices are disappearing, and technology, skills, and flexibility dominate in this dynamic landscape of the future.
Here are workplace trends we believe will dominate in 2024
1. AI will continue to shape the future of work
AI is one of the leading disruptors in the workplace. It is believed that AI will increase employment opportunities, boost business, and positively influence the future of work, despite concerns that it will lead to job losses.
By implementing generative AI, employers can shorten the time existing employees take to become proficient with new technology and specialisations. This will reduce the need to hire staff who possess these skills and, in doing so, reduce unnecessary costs. Employees also realise the value of expanding their skill set in AI and future-proofing their careers.
The development of generative AI tools is quickly getting to the point where they offer solutions to improve productivity in various tasks and industries. According to a World Economic Forum study, thirty-four percent of job tasks are already estimated to be automated. The report also states that AI is not expected to significantly impact leadership and creative thinking abilities, as these still need human thinking; instead, it is expected to fully automate information-gathering and basic decision-making processes, saving time and business operating costs.
With employees seeking out certainty and reliability at work, it is imperative that companies build a culture of trust and ongoing education around adopting and addressing employee's concerns with transparent communication about AI’s role in the organisation and impact on their jobs. This will go a long way towards reducing resistance to change, fear and uncertainty.
2. Employers will place an increased emphasis on skills-based hiring
Skills-based hiring is going to be a significant workplace trend in 2024. Skills-based hiring is an approach that focuses on evaluating potential employees based on their skills rather than on their qualifications.
Employers embrace skills-based hiring because it helps them find skilled employees with the abilities and expertise required to succeed in a specific role. This approach works best for jobs that don't need specialised training or qualifications. This hiring approach is excellent in addressing dire skills shortages.
A Deloitte survey stated that seventy-three percent of employers expect to continue to experience a shortage in skills over the next three years, and seventy percent of those respondents say they are getting creative about sourcing for skills rather than just considering qualifications.
According to a report by TestGorilla, thirty-nine percent of organisations are planning to increase their spend on skills-based hiring in 2024, and fifty-eight percent of organisations plan to use skills-based hiring more in the future. It was also noted that eighty-nine percent of organisations improved employee retention when hiring for skills, and seventy-four percent reduced hiring costs.
3. Gen Z’s will influence the way we work
Gen Z currently makes up thirty percent of the global population and is predicted to make up twenty-seven percent of the workforce by 2025, according to Zurich Insurance. So, the influence Gen Z has on the workforce is considerable and worth noting.
Employers need to shift their offerings if they want to hire and retain Gen Z talent. Gen Z, more than any other generation, places a high value on sustainability, the environment, work-life balance and purpose. While pursuing their career goals, they look for jobs that allow them to lead satisfying personal lives. While salary plays a significant role, Gen Z considers other factors like company reputation, opportunities for growth, work flexibility, diversity and inclusion just as important when making career decisions.
The unique perspectives, diverse backgrounds, demand for environmental sustainability, and tech skills that Gen Z brings to the workforce will influence the future of work. Gen Z will bring new dynamics, innovations, and cultural shifts to the workforce through their presence and contributions.
Read our article about what graduates want in their careers.
4. The hybrid workspace will dominate the way we work
Undoubtedly, remote work brings forth numerous advantages. Employees experience heightened flexibility, improved work-life balance, and increased productivity. From the employer's perspective, these benefits extend to accessing a broader talent pool. Hybrid and remote offerings transcend geographical limitations, enabling the attraction of potential employees without being confined to a specific radius.
Employers can anticipate that a hybrid working model, where employees divide their time between the office and remote locations, will dominate as a workplace trend in 2024.
According to LinkedIn research, hybrid jobs increased by fifty-two percent year-on-year, making up twenty percent of job postings in 2023. A seven percent annual increase in hybrid job applications was also noted, and in August 2023, there were twenty-one percent of hybrid job applications overall.
Organisations that use a hybrid work model can offer their employees a better work-life balance. This in turn drives productivity and employee engagement at work and helps businesses operate more efficiently as a result.
Read our article on practical ways to build a remote company culture.
5. With a growth mindset, employees will thrive
When hiring employees, employers and recruiters will seek out candidates with a growth mindset and a thirst for knowledge because they are more adaptable to the future of work. Skills quickly become outdated in today's dynamic environment, and ongoing learning initiatives are no longer optional; they are vital.
Businesses will continue to invest in training and development initiatives to give their employees the tools they need to succeed in the long run, requiring a growth mindset.
Lifelong learning is more important than ever due to the digital transformation and its new technologies, which will continue to disrupt how we work and do business. Lifelong learning is a crucial element in the future of work.
Continuous learning on the job can help employees stay up-to-date with industry trends and advancements, adapt to changing work environments, and maintain competitiveness in business and the workforce. Companies that invest in upskilling programmes can build a stronger employer brand on the outside, which attracts new hires who are culturally compatible and motivated by long-term professional growth.
By being aware of and adjusting to these workplace trends, employers will ensure their organisations and recruitment strategies are future-proof.
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