Future of Work Trends 2024: Ongoing Evolution vs. Revolution as the Turbulent Twenties Continue

The Turbulent Twenties feels like an appropriate way to describe this decade so far. Waves of change on a personal, regional, and global level are coming at us faster and harder than at any point in our lives.

While no one knows exactly what 2024 will have in store, below are four trends that I think will impact society and the workforce in the coming year.

1. Shifting Demographics (and Psychographics) Change Workforce Dynamics

Gen Xers are poised to outnumber Baby Boomers in the workforce by the end of 2024, according to a report from Glassdoor. With this change comes shifting attitudes and behaviors towards work. We’ve seen that Gen Z values transparency, wants a voice, and has higher standards for diversity and inclusion. This will force organizations to re-evaluate leadership styles, team dynamics, and approaches to employee engagement.

A more diverse workforce also leads to differing perspectives on? work arrangements and models, as shown by the tension around return-to-office mandates. Some prefer the human-to-human connection (and that includes those new to the workforce) while others place greater value on the flexibility of working remotely. As companies look to find common ground, we’ll continue to see a range of flexible approaches and experimentation around how and where we work.?

The AARP also wrote about changes in how Gen X is approaching their professional lives: many people over the age of 50 are switching careers in the pursuit of greater flexibility and less stress. This is, in many ways, a response to the pandemic and the Great Reevaluation that came about as a result. But many Gen Xers are also anticipating another 20+ years in the workforce. The idea of a new, ideally less intense and demanding career, might also dramatically improve the quality of life for some.

2. Flexible Team Models Deliver Adaptability, Agility, and Scalability

Not only will we continue to see changes in workforce composition, we will also see an ongoing exploration around how we work to rapidly respond to change. Specifically, workforce management models will become more fluid vs. fixed to address evolving company needs based on market dynamics.?

For example, Miles Everson, CEO of MBO Partners, recently wrote about Temporary Teams, a workforce management model that he believes will set organizations up for future success. This approach supports greater flexibility and agility while still delivering high performance.?

“The solution is not to dump the use of teams entirely, but to change how teams work,” says Everson. “After all, teams can excel at creating effective solutions to complex problems because the whole is greater than the sum of the parts. Instead, the solution is to replace ‘permanent’ or ‘long-term’ teams with temporary teams, made of blended and optimized groups of full-time workers and skilled contract labor.”

3. Reskilling and Upskilling Continues to Be Top of Mind for Workers and Companies

With the rapid emergence of new technologies, particularly Generative AI, and the continued presence of alternative worker economies, everyone needs to be thinking about skill development.

Responding to Gen AI is going to be the big one in 2024. A LinkedIn Report on AI at Work shared that the number of job postings mentioning ChatGPT: “We’ve seen a 21X increase in the share of global English-language job postings that mention new AI technologies such as GPT or ChatGPT since November 2022. In June 2023, the number of AI-skilled members was 9x larger than in January 2016, globally.”

In a workforce where both job openings and resignations are trending down, being able to use and talk about these new technologies is clearly going to be important to employers.

But? ‘hard’ skills are only half of the equation. Soft skills (which are hard to teach) are equally important, particularly when it comes to understanding how to motivate people to do their best work. In fact, management and people skills are ranked as the top two skills needed for the future of work according to?ADP Research Institute.?

4. Human Connection and Continued Focus on Well-Being at Work

Partly in response to the volatile nature of the last few years, and partly as a result of the ongoing demographic shifts and the rise of WFH, individuals are continuing to prioritize human connection and their own well-being. In fact the number of employees who report feeling lonely at work jumped from 33% in 2022 to 38% in 2023. And 90% of millennials and Gen Z agree that emotional and mental health support is important in an organization.

Furthermore, employees want to work for companies that align with their values. This is another byproduct of the rise of Gen Z and their focus on deeper, more meaningful ties. It’s not just who people work for, but what they mutually stand for, that matters today.??

Not all organizations will be committed to addressing these employee needs. However, those who make a meaningful contribution to their employees’ well-being will stand out in a tight labor market. They will be rewarded with improved job satisfaction, performance, and employee wellness.

As the last few years have shown us, the way we work is being disrupted on every level. New standards and norms are being continuously created to align to the changing needs of a more diversified workforce. No one can predict the future. But, as Gary Bolles, a leading future of work expert has shared, there will always be new rules of work— and we’ll all need to be comfortable in adapting, adjusting, and even shaping them so we can be our best selves.?