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2024 workforce predictions: technology, ageism, and the flexibility to stop being so flexible 

Achievers

As 2024 takes shape, we expect to see a bit of a shake-up, with HR prioritizing key areas such as the employee-employee relationship, fostering trust during change, an unsettled talent market, defining workplace flexibility, and the pressures and opportunities of technology in the HR space. Here are our workforce predictions for 2024.

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49% of UK organisations’ 2024 salary budgets were lower than the previous year

Employee Benefits

The findings revealed that overall salary budget increases are expected to rise by 4% in 2025, despite consistently declining since 2023, while the overall median pay rise for 2024 fell to 4.6%, compared 5.3% Approximately 32,000 responses were received from employers across 168 countries worldwide, with 1,179 UK organisations responding.

Salary 105
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5 Key Trends and 5 Important Steps to Take Away From HUB’s 2023 Workforce Absence Management Survey

Griffin Benefits

HUB International’s 2023 Workforce Absence Management Survey, which surveyed 514 employers with 50 to 1,000 employees, found that remote and hybrid work trends continue, with more companies making these options standard. More than half (53%) of respondents allow remote work, mostly through hybrid work arrangements.

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4 Attraction and Retention Trends to Monitor in 2023

CorpStrat

Last year’s labor market was a roller coaster and we believe 2023 will be no different. While most employers project an increase in salaries in 2023, many will look beyond pay alone to help attract and retain current and prospective employees. In addition, 28% say they are miserable at work.

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Recruitment roulette: Are you playing the fake flexing game?

Insperity

Clearly, the majority of job candidates prioritize workplace flexibility. It becomes a problem when companies downplay the aspects of their workplace that candidates may object to and try to present a rosier picture instead. Today’s employees expect and prefer greater workplace flexibility. What is fake flexing?

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UK salary budgets expected to decline in 2024

Employee Benefits

increase in 2023 and the average 4.3% Additionally, 58% have introduced more workplace flexibility, 57% have broadened their diversity, equity and inclusion emphasis, and 41% have taken action to improve their employees’ experience. This is lower than the average 5.1% 2022 pay rises.

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Industry: the art of working from anywhere

Workplace Insight

The ability to fit work around your children’s or family life, especially since child and/or caring for sick or elderly relatives is so costly and not easily available, has meant that since February 2023, the labour force participation rate for women between the ages of 25 and 54 has exceeded an all-time high (at least in the USA).