Key Workplace Trends You Need To Know For 2024
By Samantha Madhosingh for Forbes
As we near the end of 2023, many leaders and employees are asking the same question: What will the workplace look like in 2024?
Will reducing burnout be a focus? Where will people be working, and how happy will they be? Will we be working remotely, in-office, on 4-day weeks?
There are many questions employees are asking, and only time will tell exactly what will evolve in the world of work. But here are some insights into the trends predicted for the next 12 months.
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1. More Workers Return To The Office
Since 2020, the discourse around hybrid, flexible, remote and office working has been constant. Ongoing conversations between employers and employees will continue, but a return to the office will likely be in the cards for many worldwide. The KPMG CEO Outlook survey found that 64% of leaders globally predict a full return to in-office working by 2026. Further stats show that in the US, 90% of companies are intending to implement their return-to-office plans by the end of 2024, according to a report from Resume Builder.
However, flexible work arrangements seem to be a primary reason people stay in their current roles – or move to a new one. McKinsey found that when workers are offered flexibility in a new role, 87% of them will take the offer. This mismatch between what employers and employees want could be a source of conflict.
And then there's the question of the 4-day workweek. Early global trials by 4dayweek.com found a 36% increase in revenue, as well as a 68% reduction in burnout when employees switched from working a five-day week.
Could this be the way forward? Perhaps. Resume Builder's 2023 study showed that 20% of US employers have already implemented a four-day workweek, and 41% plan to do so.
2. Increased Transparency About Salaries
Gone are the days when people kept tight-lipped about their salaries. The once-taboo subject of employee compensation is gaining new transparency, driven by emerging legislation at both state and federal levels. These laws are compelling employers to reveal salary ranges in job descriptions, signaling a significant shift in how pay information is shared and discussed in the workplace.
According to an Empower 2023 survey on money habits, Millennials (56%) and Gen Z (49%) are generally less guarded than older generations (38% of Gen X and 22% of Boomers) when talking about money. And over half of Gen Z (53%) and Millennials (58%) would happily share their salary information on LinkedIn to support their job search.
As more Gen Z workers enter the workforce next year, salary transparency will likely be a hot topic, with more discussions happening to reduce pay gaps.
3. Ongoing Support For Mental Well-Being And Preventing Burnout
Mental well-being has been more in the spotlight in recent years, and this will continue next year as more focus is needed to reduce the impact of burnout on employees and to ensure the workforce has the mental health support they need.
More than half of US workers (57%) are experiencing "at least" moderate burnout, often made worse by stress in the workplace, and only 48% believe that their employer cares about their mental health needs. These were the results of the 13th annual Aflac WorkForces Report, released in October 2023, featuring responses from more than 1,200 employers and 2,000 employees in various industries.
Employers can cultivate their mental health at work strategy and improve upon the support and policies they have in place. Crucial to this is examining the culture – is it creating issues that could, or has, lead to a toxic workplace? Leaders must focus on the culture of their teams and establishing trust.
4. Increased Integration Of Generative AI
With a boom in the latter half of 2023 – and more people beginning to use AI in aspects of their work roles – we can't ignore how generative AI will impact workplaces. The surge in interest seems to have resulted from the birth of ChatGPT, which was released in November 2022. Now, AI tools can generate text, images, videos, and audios, and seem here to stay.
In May 2023, WE Communications (WE) and the USC Annenberg Center for Public Relations found that 59% of professionals had started experimenting with AI-driven additions. The survey found that leaders recognize the importance of AI for the industry's future but perhaps still need to gain more knowledge and experience on how best to utilize it.
That's what we'll see more of in 2024: increased investment into understanding how AI can be integrated within businesses and how this implementation will affect employee roles and responsibilities. While still relatively new, both employers and employees must keep an open mind about generative AI and receive training on how to benefit from it.
5. A Duty To Care For Our Planet
Businesses have a duty to positively impact global issues, particularly climate change. This includes addressing the environmental effects that are increasingly evident around us. From extreme weather events to record-high temperatures, the daily impacts on our planet are clear and call for corporate action.
An analysis by S&P Global examining average emissions intensity across various sectors in 2019-2020 revealed that the utilities sector was the most carbon-intensive, with an emission rate of 2,634 tons of CO2 for every $1 million in revenue. Not far behind, the materials and energy sectors also showed significant emissions, registering 918 and 571 tons of CO2, respectively.
Even if your company isn't an energy or utility corporation, all organizations can do more to minimize their environmental impacts. Employees will want to see that their company is part of the solution by limiting their carbon emissions and waste and using clean technology, thereby reducing their organization’s carbon footprint.
As 2024 approaches, the modern workplace continues to evolve. These trends will steer us into an era where business innovation and employee-centric practices redefine the future of work.
