Let's Talk Work: Exploring The Global Outlook of Workforce Trends in 2023

Let's Talk Work: Exploring The Global Outlook of Workforce Trends in 2023

Hello there, fellow curious minds! It's time to put on our thinking caps and delve into the realm of workforce trends for the year 2023. As we begin the final quarter of the year, let's reflect on where we are in terms of the trends predicted this year and how that can help us look at what to watch out for in 2024. Now, I know what you're thinking, "Workforce trends? That sounds about as thrilling as watching paint dry!" But never fear, because you're in for a whirlwind tour of the trends shaping how we work and earn our daily bread.?

Occupational Trends: Out with the Old, In with the New

Picture this: Jobs that existed a decade ago are fading away like last year's fashion trends. Instead, we're seeing the rise of entirely new job roles - “Can we get Prompt Engineer for 200, Alex?” -? with skills that would've sounded like science fiction not too long ago. It's a bit like watching a magician pull a rabbit out of a hat, only in this case, the hat is full of data scientists, AI specialists, and drone operators.

Skills and Education: Never Stop Learning

Remember when you left school or college, and you thought, "Phew, no more studying!" Well, guess what? Learning is back in fashion, and it's here to stay. The hottest trend in education is acquiring new skills, especially digital ones. 74% of workers are willing to learn new skills or re-train in order to remain employable. (Lorman Team 2021) Whether it's coding, digital marketing, or just mastering the art of making killer PowerPoint (or is it Canva?) presentations, continuous learning is the name of the game.?

Remote and Hybrid Work: Pajamas vs. Business Casual

Remote work is no longer a trend; it's a lifestyle. But here's the twist—business leaders are fighting over what truly makes the ideal work environment and some are trying to put remote work on the chopping block. It feels like mom and dad are fighting over the house rules and it will be interesting to see who wins, especially with 78% of workers consistently saying they prefer flexible work options and having the choice of working from home. (Kalcheva 2023)?

Diversity and Inclusion: The New Norm

Diversity and inclusion are no longer buzzwords; they're essential ingredients in the workplace recipe. Companies are celebrating differences, striving for gender equality, and promoting racial and ethnic diversity. It's like a kaleidoscope of talent and ideas that make workplaces more vibrant and innovative. On the flip side, employers will have to invest in engaging employees at all levels of support for DEI efforts due to pushback that often comes from trying to implement these programs. If employers want meaningful dialogue and change in their organizations, they’ll need to find ways to drive the conversation towards progress with integrity.?

Gig Economy and Freelancing: Freedom in Flexibility

The gig economy is like a giant buffet of work options. People are freelancing, picking up gigs, and embracing side hustles. It's a bit like choosing from an array of tasty treats, and who doesn't love having a variety of options? Nearly two in five (39 percent) of U.S. adults have a side hustle, according to a new Bankrate survey. (Rubloff and writers 2023) However, young hustlers are going to have to be careful of building a sustainable livelihood at the cost of their overall well being. Hustle culture has come under attack in recent years for pushing unrealistic goals for people and the “freedom” promised in the gig economy and freelancing will come at a cost one way or the other.?

Workplace Technology: Robots and You

Automation and artificial intelligence are on the rise. 35% of organizations are training and reskilling their teams to use new AI and automation tools. (Newberry 2023) But don't worry, the robots aren't here to steal our jobs. They're here to be our trusty assistants, helping us work smarter, not harder. Think of it as upgrading from a bicycle to a sleek electric scooter. Once the novelty wears off, we’ll have to take a deep dive into how this technology works and what impacts it has on society. There are already court cases that are highlighting the need for policies and regulations to protect society from the pitfalls of this technology.

Employee Benefits and Well-being: Work Hard, Live Well

Companies are stepping up their game when it comes to employee benefits and well-being. Think wellness programs, flexible schedules, and mental health support. It's like the workplace version of self-care Sundays. This will be an important trend for workers to follow as they transition in their careers to new employment and consider what benefits have the most meaning and impact in their overall lives.?

Workplace Culture: Dancing to a New Tune

Culture is king! Organizations are crafting unique cultures that attract and retain top talent. Retaining talent is the name of the game as it is becoming increasingly more expensive to replace quality talent in the current marketplace. Organizations are focusing on creating working environments and conditions that keep employees engaged and collaborating to bring about more innovation and preferable workspaces. It's like a well-choreographed dance, with each employee playing their part in harmony.

Globalization: A Smaller World After All

The world is getting smaller as globalization continues to impact work. Companies are outsourcing, offshoring, and embracing the global economy. Companies will need to take care to have internal policies and systems in place to handle the implications of a global workforce and ensure that quality talent in their target areas will have similar opportunities to come on board. It's like having a worldwide job market at your fingertips.

So there you have it, folks! Workforce trends for 2023 are like a colorful tapestry of change, innovation, and progress. Whether you're a job seeker, an employer, or just a curious observer, these trends are shaping the world of work in exciting and unexpected ways. So let's raise a virtual toast to the future of work—may it be full of surprises, growth, and maybe a few more pajama-clad workdays!

References

Kalcheva, Kamelia. 2023. “Remote Work Statistics In 2023 And How They Influence The Workplace.” Squaretalk. https://squaretalk.com/remote-work-statistics/.

Lorman Team. 2021. “39 Statistics that Prove the Value of Employee Training.” Lorman Education Services. https://www.lorman.com/blog/post/39-statistics-that-prove-the-value-of-employee-training.

Newberry, Christina. 2023. “74 Artificial Intelligence Statistics to Guide Your Marketing Plan.” Hootsuite Blog. https://blog.hootsuite.com/artificial-intelligence-statistics/#Artificial_intelligence_usage_statistics.

Rubloff, Tori, and staff writers. 2023. “Survey: 39% Have A Side Hustle, And 44% Believe They’ll Always Need One.” Bankrate. https://www.bankrate.com/personal-finance/side-hustle-survey/.

Working abroad can be an incredibly transformative experience. In this edition of Adilstone Abroad, we delve into the inspiring journey of Chad and Corrie Irons, an amazing Australian couple who have made Cambodia their home while working at Adilstone's Cambodia Office. Their story is truly remarkable!

Embarking on a Journey Together

Driven by their passion for community work, Chad and Corrie have dedicated their lives to diverse roles across different countries. Their journey to Cambodia began with Chad's work in Southeast Asia even before they were married. Corrie visited Chad during her university days, and it left a lasting impression on her. Corrie recalls, "He paid for my visit to Vietnam. I fell in love with the country, its people, and its food." They always envisioned returning to Southeast Asia. The pandemic?lockdowns became a turning point in 2022, and after evaluating their options, Cambodia felt like the perfect place to be. With a network in Phnom Penh and opportunities to contribute, their decision became even stronger.

Of course, transitioning to a new country comes with its share of challenges. Initially, language was a barrier, but they soon realized it was an opportunity for growth. Chad shared about their initial three months in a language-intensive course, saying, "We certainly don't know the language yet, but we've begun to grasp enough to get by." Corrie highlights how many Khmer people understand and read English better than they speak it, making written communication more convenient.

Overcoming and Creating a New Home

However, language is just one aspect of adaptation. Chad mentions the need to adjust to the highly relational nature of personal and business relationships in Asia, which can differ from Western expectations. Corrie, on the other hand, faced unique challenges in her kitchen due to the unreliability of online stock information. Nonetheless, they have both learned the importance of embracing the local ways and avoiding frustrations caused by trying to replicate their previous routines.

Throughout their journey, Chad and Corrie have found strength in their unwavering support for each other. Effective communication has been key in ensuring their goals and expectations remain aligned. Like puzzle pieces, their strengths and weaknesses complement each other, helping them overcome unexpected?hurdles.

Adventures in Life and Work

Their professional journey in Cambodia has not only enhanced their primary skills but also developed their soft skills. Chad's accounting and business expertise now coexist with a deeper understanding of working styles and collaboration in a diverse environment. Corrie encourages others to work abroad, as it challenges one's worldview and fosters personal growth.

Despite these changes in their lives, one thing remains cherished from their home country of Australia. Sharing a daily coffee has remained a constant in their lives, providing a valuable opportunity to connect. On Saturdays, they explore different breakfast places, allowing food to play a significant role in their shared experiences. Even though their coffee standards may have been spoiled in Melbourne, they appreciate the ritual and the chance to connect with others. Their international work in Cambodia has broadened their horizons and emphasized the importance of soft skills. By building professional networks and fostering deep relationships, they have come to appreciate the beauty of cultural interaction. Engaging in language exchanges, attending local church services, and sharing meals with the community have enriched their lives. Chad has even discovered an unexpected love for karaoke, while Corrie has developed a newfound passion for gardening.

For those couples considering a similar path to live and work overseas, Chad advises working overseas to address skills gaps in different countries. Adilstone provided him with an opportunity to utilize his skills while immersing himself in a new culture. Experiencing diversity fosters personal growth and a deeper understanding of others.

On the other hand, Corrie emphasizes the importance of mutual commitment and agreement for couples planning to work overseas. Open communication and readiness for challenges are crucial before leaving their home country. By supporting each other through the process, couples can overcome any obstacles they may encounter.

Looking to the Future

In Chad and Corrie's story, they showed courage, adaptation, and mutual support. Their journey serves as a testament to the transformative power of stepping out of one's comfort zone and embracing new cultures and experiences. They exemplify that with an open heart, we can not only navigate through challenges but also turn them into opportunities for growth and enrichment.?

The international housing market is vast, varied, and often volatile, but understanding its nuances is the first step towards finding your next home abroad. Whether you're drawn to a major city or the countryside, there's no shortage of options for living abroad. But before packing your bags, it's essential to consider the various factors that make up the global housing market.

1. Global Trends in Housing:

Globally, urban areas, particularly in popular expat destinations like New York, London, and Singapore, have seen skyrocketing rental prices over the past decade. However, the onset of remote work and a shift towards more flexible living arrangements has slightly eased this trend in some cities.

On the flip side, emerging economies present opportunities for more affordable living, though this often comes with the need to understand local regulations and customs.

2. Where to Start Your Housing Search:

Popular Expat Destinations: Cities like Dubai, Hong Kong, Amsterdam, and Berlin have become hotspots for international professionals. These cities often have robust infrastructure, expat-friendly amenities, and diverse housing options ranging from luxurious apartments to shared housing.

Emerging Destinations: Think outside the box! Countries in Southeast Asia, Eastern Europe, and parts of Latin America offer vibrant cultures and more affordable living costs.

3. Resources to Aid Your Search:

• International Real Estate Platforms: Websites like Nestpick, Rentberry, and International Living provide listings tailored to the international tenant.
• Local Real Estate Websites: Almost every country has its own popular real estate websites. For instance, Spain has Idealista, while Japan has Suumo.
• Relocation Consultants: These are professionals who specialize in helping expats find homes in their new country. They understand both the local market and the unique challenges faced by international movers.
• Expat Communities: Websites like Expat.com and local Facebook groups can be gold mines for housing advice, recommendations, and sometimes direct listings from other expats.

4. Things to Consider:

• Visa and Residency Rules: Some countries have restrictions on property ownership or rental agreements based on your visa or residency status.
• Local Customs: In some countries, rental agreements may be verbal, while in others, a formal contract is standard. Understand the local norms to avoid potential pitfalls.
• Cost of Living: While housing might be affordable in a country, other living costs could be higher. Research comprehensively.
• Safety and Accessibility: Especially important if you're unfamiliar with the area. Ensure your new home is in a safe location and provides easy access to work, amenities, and public transport.

Finding a home in a new country can seem daunting, but with the right resources and a bit of research, it can also be one of the most exciting parts of your international adventure! So take the time to understand the international housing market, explore your options, and find your ideal home.

Welcome to "The World at Work" a newsletter by?Adilstone Group?dedicated to unraveling the intricacies of careers and professional pursuits across the globe. In this newsletter, we embark on a journey to discover the diverse landscapes of job markets, work cultures, and career paths worldwide.