Top HR Trends to Watch in 2024
With the rise of AI and increasing demand for remote or hybrid work options, the workplace is evolving at an unprecedented pace (like, seriously).
As Intel co-founder Gordon Moore aptly observed, "change has never been this fast and will never be this slow ever again."
If you can get ahead of these few trends that are changing the future of work, you will be poised for success. Let’s take a look at what they are.
Rising Demand for Flexible Work Arrangements
The Covid-19 pandemic prompted many companies to adopt work-from-home (WFH) flexibility, and now many employees wish for this arrangement to continue.
Additionally, following the pandemic reminding us about the frailty of human life, employees across generations are prioritising “work-life balance”, insisting on the ability to work remotely, and setting their own schedules in order to balance their professional and personal lives. In other words, flexibility is becoming a necessity. Failing to offer flexible options will put organisations at a serious disadvantage when it comes to attracting and retaining top talent. An ADP survey of 32,000 workers found that 64% would consider quitting if required to return to the office full time.
70% Prioritise Environmentally Sustainable Employers
Research conducted by the IBM Institute for Business Value revealed that 70% of workers and job seekers prioritise environmentally sustainable employers. Additionally, nearly half of these individuals indicated they would accept a lower salary in order to work for organisations that are environmentally and socially responsible.
Companies are Spending Big Bucks on Generative AI Training
You may have heard of FOMO, but have you heard of FOBO (fear of being obsolete)? This fear is driving companies to invest more on training employees to be adept at using Generative AI to complement their job roles. Why? Well, a recent EY survey found that 75% of employees worry about AI making their jobs obsolete, and two-thirds fear job replacement. PwC is one such company that has jumped on this bandwagon, announcing a whopping $1 billion investment to enhance the AI skills of its workforce.
The Prerequisite for Cognitive Skills is Gaining Traction
As Generative AI skills are gaining in importance, so as these five core skills identified by the World Economic Forum.
No matter the trends dominating the current talent pool market, you can count on our 360 Building Solution to help you build a team that's built to last. Contact us now!