When we look back a year from now, what forces will have shaped our organizations, culture, and workforce? To answer that question, we captured insights from 15 trend forecasts in a way that (we hope) is as informative as it is strategic for you moving into 2024. The Venn diagram below shares how frequent a trend was mentioned across all reviews (size) and key interrelationships with other trends (overlap). Of course, one quick caveat, most concepts interconnect in some way (e.g., skills, engagement, and DEI-B), but we sought to capture the most critical overlaps across these core topics that will likely shape the experience of work in the year ahead.
Aggregated People, Culture, and HR Trends for 2024
Top trends and key interrelationships
1. Nature of Work (tie for #1)
The workplace is no longer a place, but an ever-evolving concept. Hybrid models, the much-debated return to the office, and the revolutionary 4-day work week will continue to shape our understanding of productivity and work-life integration. We're no longer separating work from the rest of life but connecting work to what's most important to us. It's not just about where we work, but how, when, and why. How leaders and employees define work will continue to determine well-being, trust, wages, and employee loyalty (engagement).
2. Artificial Intelligence (tie for #1)
AI is the new electricity of our era. It's transforming everything from recruitment to compensation. Across the 15 trend lists we reviewed, AI was most connected to recruitment (dually affecting candidates and employers), how we maximize talent, skills and learning and development, and emerging ways we leverage fractional roles and the gig economy. Without question, as we've seen in the final days of 2023 with the New York Times copyright suit against OpenAI, this will be a year of unexpected change for how we connect and regulate this technology. Artificial intelligence will make defining what is human, and creating positive experiences through tech (whether through the candidate or employee experiences) even more critical in the marketplace.
3. Trust and Influence (tie for #1)
In a world of deepfakes, competition for attention and loyalty, and misinformation, trust is a competitive key. It's no surprise that authentic was named 2023's word of the year. It's been suggested we're in the midst of a dearth of trust. Organizations that earn trust and wield influence responsibly will lead the pack in attracting and retaining top talent. The positive affects of trust are immeasurable; affecting our our well-being, potential to innovate, productivity, and refreshed focus on diversity, equity, inclusion, and belonging. What's more, in an ever crowded media landscape, the ability of leaders, organizations, and teams to influence and building meaningful bonds will pay even stronger dividends then before.
4. Skills and Upskilling (tie with well-being)
We know the only constant is change, and the skill sets of yesterday might not cut it tomorrow. Upskilling isn't just a trend; it's a survival strategy across industries. We're likely to see a surge in microlearning strategies, offering bite-sized, yet impactful, learning experiences tailored to individual needs and schedules. Companies are increasingly recognizing that investing in their employees' growth is not just beneficial but essential for staying competitive. This year, expect a blend of AI-driven personalized learning paths, collaborative virtual training environments, and a strong emphasis on soft skills development. For hiring, this means intense focus on screening for the potential for agility, adaptability, and readiness for key emerging challenges.
5. Well-Being and Stress Management (tie with upskilling)
We'll continue to see a focus on blending work and life, managing stress, and promoting mental and physical health. The demands placed on organizations to support this will only continue to increase. In fact, we shared the value of considering candidate well-being in your recruitment and talent acquisition process earlier this year. You might have heard about anti-work beliefs affecting worker and job seeker decision-making and the business response to this will take shape in the months ahead.
6. Maximizing the Labor Market
It's a talent's market out there. Smart organizations are finding innovative ways to attract and retain the best, often looking in untapped or unconventional pools of talent. Many cited a future Great Unretirement as older workers resume careers and employment. Underrepresented groups will become even more essential to maintaining skill levels.
7. Earning Employee Loyalty: Engagement and Recognition
In 2024, employee engagement, with a bespoke focus on recognition, is anticipated to be pivotal in the fierce competition for employee loyalty. As talent management evolves, companies are expected to adopt more personalized and frequent recognition strategies, moving beyond traditional reviews to continuous, real-time feedback loops. The focus will likely shift towards creating a tailored employee experience, where recognition is seamlessly integrated into daily work life. Innovative digital platforms and tools will play a crucial role in facilitating this, enabling managers to recognize and reward achievements in a more timely and relevant manner. This approach not only boosts morale but also fosters a sense of belonging and loyalty, making retention an organic outcome in an increasingly competitive talent landscape.
8. Refreshing DEI-B Initiatives
Resistance to diversity, equity, inclusion, and belonging initiatives captured attention in the second half of the year. As budgets constricted, budgets were reevaluated. In the coming year DEI-B is expected to evolve into a more nuanced and integrated approach. As leaders navigate the pushback experienced in the past year, there's a shift towards embedding DEI-B principles into the very fabric of organizational culture, rather than treating them as standalone initiatives. This means a greater focus on inclusive leadership and systemic changes that promote equity at every level. Companies are likely to leverage data-driven insights to tailor their strategies, ensuring they are not only culturally sensitive but also aligned with their core business objectives. The key will be balancing bold, innovative steps with empathetic, inclusive dialogue, creating environments where every employee feels valued and heard. This evolution marks a significant step towards more authentic and sustainable DEI-B practices.
9. Wage Pressures
In 2023 pay transparency, organized labor, and inflation drove change. Navigating these pressures while maintaining profitability will continue to be a delicate balancing act for businesses this coming year. We'll also likely see increased attention to historically underpaid groups, like teachers, as we saw this past year with delivery drivers and manufacturing.
10. Fractional Work and the Gig Economy
Gig work isn't a new to trend lists. What's different is involvement of increasingly highly experienced and skilled workers. Artificial intelligence will continue to remove friction in organizations and workers connecting. Fractional work will remain important to sustaining needed skill sets.
Seizing the year ahead: elevating people and culture in 2024
Our team's reason for being isn't observing these trends; it's actively shaping and responding to them with our data-driven and evidence-based approach grounded in intense service to others. Join us in this exciting journey to redefine the future of work.
