Work Futures: Trends Impacting 2024
Section 01
The First Impression.
The first step in any employee-employer relationship? The job search. AI is disrupting this highly personal process — with positive and negative results.
AI may very well be the biggest disruptor of our time because it is happening at such speed that most companies are struggling to keep up with what, where, and how AI should be used across the hiring process. Here’s the rub. The job search and hiring process is a highly personal one and marks the beginning of an employee-employer relationship. It determines one’s livelihood, first impressions, and overall satisfaction with the experience.
Less than half (48%) of workers agree that tech-enabled job searches will help them find the right job for them quicker.
Nearly three-quarters (72%) of workers agree that employers are relying too much on technology and AI in the hiring process.
24%
Only 24% of workers believe AI should be used in the reviewing of resumes/applications.
We’ve found that most workers believe companies are relying too much on technology and AI in the hiring process, and that’s a problem. As the world of AI will undoubtedly continue to expand, companies will need to balance the speed, efficiencies, and cost savings they expect to gain from AI or tech and the potential impact on candidate engagement, experience, and the ability to attract top talent.
In short, identifying the important moments in time across the hiring process that should remain human-driven.
Section 02
Culture Clash.
Company values and culture are key to business success. However, workers say “a culture fit” ranks low on their priority list … and employers aren’t assessing interviewees for this all too important metric.
It’s disheartening and hard to imagine that employers ranked “cultural fit” as least important when hiring new employees, particularly as research from Gartner, among others, finds employees must be both aligned and connected to organizational culture for it to truly succeed. Cultural fit is a key aspect of creating a more meaningful experience and shared beliefs and values between employees and their employers – and it is linked to key outcomes such as job satisfaction, organizational commitment, job performance, and retention.
of workers ranked “values/soft skills/cultural fit” as most important when employers are hiring new employees. Employers ranked “cultural fit” as least important when hiring new employees.
Less than half (47%) of workers agree their employers measure employee sentiments regarding their success/failure in living the company’s values and culture.
50%
Only 50% of workers agree their employers have built a value-based culture using employee surveys/data to identify what is important to them.
Yet, we’ve found that more than half of employees didn’t undergo any assessments or measurement of their personal values or beliefs,
thereby hindering the ability to align on culture and create value through the psychological bond that comes with shared values. There is a business case to be made for treating company values and culture like a line item on a balance sheet, including KPIs, measurements, ROI on values efforts, and putting in place methods to hold leaders and teams accountable for living the company’s values and culture.
Section 03
Ways of Working.
In the post-pandemic era, work arrangement preferences are changing … but not all companies are keeping up.
Less than half (48%) of employers regularly survey their employees about work arrangement preferences.
A recent survey report by WorkHuman sought to understand how much autonomy employees have in their work arrangement. Overall, only 66% of respondents say their work arrangement is their preference. And it’s clear from our findings that most companies aren’t even asking the question. And it’s costing them. The 20% of respondents who indicated their work arrangement is not their preference scored lower on every single positive workplace outcome, most notably connection, productivity, and hope for career growth.
Perhaps most noteworthy, employees who had a say in their work arrangement had lower stress levels, across all ways of working.
And it seems the level of flexibility in work arrangements directly correlates to culture connectedness – the more flexibility an employee has in where, when, and how they work, the more likely they are to be connected to their culture, according to Gartner research.
Section 04
Formal Flexibility.
Full-time employment isn’t the draw it once was. In today’s shifting work landscape, companies hoping to attract a diverse workforce need a thoughtful, fluid plan to incorporate contract and gig work.
In today’s rapidly evolving workforce landscape, companies are faced with a myriad of options when it comes to workforce planning and modeling. From traditional full-time roles to gig work and remote freelancers, the spectrum of employment options has never been broader. Traditional full-time roles provide stability and benefits, while non-traditional arrangements such as contract and gig work offer flexibility and autonomy. By offering a mix of options, companies can attract and retain a diverse workforce with varying preferences and needs, while gaining greater agility and access to specialized skills.
62%
of workers agree that the idea of a full-time job is less appealing to them now than it once was.
Nearly 3 in 10 (28%) of employers don’t have a formalized method for determining an optimal mix between full-time employees and alternative talent arrangements.
of workers say it is extremely/very important when looking for their next job that an employer offers a full range of employment options, including FTE, part-time perm, full-time and part-time temporary, independent contractor, consultant, and gig arrangements.
And if those aren’t reasons enough, it is clear from our survey findings that workers are not only less enamored with full-time employment, but they also intend to seek out employers that offer these flexible work arrangement options.
Flexibility is simply here to stay, and finding the optimal mix of traditional and non-traditional employment arrangements is essential for meeting the diverse needs of both employers and employees.
Section 05
Futureproofing.
Rapid technological advances can result in employees feeling left behind. The companies of the future will combat this by upskilling and reskilling their teams to stay ahead in a changing work world.
The rapid pace of technological innovation is reshaping industries and redefining job roles at an unprecedented rate. Automation, artificial intelligence, and digitalization are transforming the way work is performed, creating both opportunities and challenges for organizations and their employees. By upskilling and reskilling their workforce, companies can ensure that employees have the skills and knowledge needed to leverage emerging technologies and remain competitive in a rapidly evolving landscape.
of workers agree they must continually reinvent themselves/reskill due to the rapid change of pace in their profession.
Nearly half (49%) of workers agree they have had difficulty progressing in their career because of the rapid changes in the workplace.
As the nature of work continues to evolve, organizations that prioritize employee development and adaptability will be best positioned to thrive in the face of change.
There is an argument to be made that organizations that develop an employer value proposition touting their focus on helping employees stay on top of changing technologies and offering upskilling/reskilling when needed will attain a competitive edge in talent attraction and drive higher retention.