Both workers and managers faced unique challenges in 2023. From the push and pull of remote work to rising employee burnout and shifting economic pressures, organizations and professionals have had to navigate a complex environment this year.With a few short weeks left in the calendar year, here’s a look back at the top trends that have impacted the workplace in 2023 and will continue to take shape as we head into 2024:Bonuses came back in a big way.According to Robert Half, 96% of employers expect to award a year-end bonus to their teams. Of those, 54% said they will be offering more than they did a year ago, while 37% plan to keep the amount around the same as 2022. The demand for skilled talent remains high, and rewarding top performers at the end of the year is an important retention strategy. It’s important for managers to communicate effectively about factors impacting bonus plans, such as individual and company performance. For employers that can’t increase bonuses, consider nonmonetary benefits like extra vacation time during the holiday season.
Flexible work continues to be a primary factor in career decisions. Salary has historically been the primary factor when it comes to career decisions, but flexible work will be a close runner up in 2024. According to Robert Half research, 62% of workers said they’d stay in a job with a lower salary if they had flexible work options. Professionals evaluating a career move will continue to weigh flexible work opportunities more heavily and companies will need to be nimble with their policies.
Workers have embraced generative AI. According to Robert Half data, 41% of workers said using generative AI will have a positive impact on their career, saying it will create more demand for their skills and support career progression. While still relatively new in adoption, workers will need to keep an open mind about the future of generative AI, and employers will need to provide the necessary resources and access to training so workers can take full advantage of its benefits.
Industry-specific pain points are prevalent.When asked about burnout levels, tech (48%) and accounting and finance professionals (30%) reported high levels of burnout. Tech layoffs and the ongoing accounting shortage took center stage this year and have impacted employee workloads and stress levels. Managers should have their finger on the pulse by having regular check-ins and bringing on additional resources, such as contract workers, to help address heavy workloads and to ensure their current employees feel supported.
Salary discussions are common among workers.In a Robert Half survey,45% of workers admitted to having salary discussions with their colleagues in the past year — that number jumped to 82% among Gen Z respondents. Salary transparency will continue to be a hot-button issue for organizations in 2024. Being up-front about salary in job descriptions and with current employees will help set the standard for pay equity. Looking ahead to 2024, one thing is clear: the job market will continue to be unpredictable and complex. For both workers and employers, it’s important to stay attuned to changing conditions and how emerging trends could impact your career or business in the year ahead.Learn how Robert Half can help you in the coming year, whether you’re looking to hire or looking for a job.
Robert Half Inc.
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