Addressing the Cost-of-Work Crisis
Employees are becoming more aware of the costs they bear when working in an office environment. As remote working becomes the norm, many are questioning the financial, time, and energy expenses associated with commuting to work. In 2024, organisations are predicted to tackle this issue head-on, possibly by sharing the tangible and intangible costs of office work, or by finding ways to reduce total costs. This could include benefits such as housing subsidies, financial well-being programmes, or even pet-friendly workplaces.
AI: A Workforce Game-Changer
Despite concerns over job loss due to generative AI (GenAI), it’s predicted that this technology will not replace many jobs in the short to medium term. Instead, GenAI will lower the level of technical skills needed for many roles, opening up more opportunities for candidates. Organisations will need to assess how GenAI investments will change their teams’ roles and workflows, and adapt their hiring strategies accordingly.
The Four-Day Workweek: A New Norm?
The idea of a four-day workweek is gaining traction, with large-scale studies and union negotiations focusing on this concept. Organisations may need to rethink their workweek structure to accommodate this change, which could potentially improve employee engagement, performance, and well-being, as well as business outcomes.
Conflict Resolution: A Vital Skill for Managers
Conflicts between employees are expected to reach an all-time high in 2024 due to geopolitical crises, labour strikes, climate change, and other factors. Organisations should consider investing in conflict management training, creating opportunities for new managers to learn from experienced leaders, and rewarding effective conflict resolution.
GenAI: Balancing Benefits and Risks
While GenAI offers many potential benefits, organisations will need to manage the associated risks. This may involve implementing rigorous access and file classification policies, and training employees to use GenAI tools responsibly and effectively.
Breaking Down the Paper Ceiling: Skills Over Degrees
Organisations are increasingly moving away from degree requirements and towards skills-based hiring. This approach will enable companies to attract a wider range of talent, including workers who have gained skills through alternative routes.
Climate Change Protection: A New Employee Benefit
As climate change-related events become more frequent and severe, organisations are responding by incorporating climate change disaster response into their benefits packages. This could include physical safety provisions, compensation for impacted employees, and mental health support.
DEI: An Integral Part of Work Culture
Despite some pushback against diversity, equity, and inclusion (DEI) initiatives, the need for diverse and inclusive workforces remains. In 2024, companies are expected to integrate DEI values into their business objectives, daily operations, and culture.
Challenging Career Stereotypes
The traditional career path is evolving, with many employees choosing to work beyond retirement age or after a career shift. Organisations will need to adapt their talent management strategies to accommodate these changes, possibly by offering more flexible work arrangements or recognising expertise regardless of tenure.
