Ask any team leader what workplace issues they believe they will face in 2024, and you will likely hear concerns about productivity, talent shortages, or rising business costs. However, there are other issues that are radically transforming the world of work that will require innovative and adaptive responses from team leaders. Here are three trends to look out for in 2024:
Increased Generative AI Proficiency and Usage
Artificial Intelligence (AI) technology presents immense opportunities for a faster, more cost-effective means of generating various types of content, such as text, audio, and imagery. In 2023, ChatGPT the Open AI chatbot that can generate articles, artwork and more using prompts – made history as the fastest growing consumer application, reaching 100 million monthly active users in two months. While some argue that such technology could replace employees, others countered that the more likely outcome will be employees expanding their skill sets and learning how to integrate such technologies into their work. American management consulting company, Gartner Inc., predicts that more than 80% of enterprises will have used GenAI programmes or used GenAI-enabled applications in production environments by 2026. Both employees and business leaders will need to understand the pros and cons of this technology and find ways to effectively integrate the best elements of it to their processes and work output.
Increased Need for Formalised Work from Home/Hybrid Policies
To work from home or at the office? This is the question that will continue to be debated throughout 2024. While many employers are calling for workers to return to the office full-time, data shows that employees are seeking more flexible working arrangements. A 2021 study from Gartner involving some 4000 respondents showed that 39% of employees said they would more likely quit their jobs if they were forced to return to the office full time. Strong policies that enshrine hybrid policies in the workplace may help to resolve some of the angst among workers related to the issue and also indicate how flexible and accommodating businesses are prepared to be in order to attract and keep talent.
Skills over Degrees
Skills-first hiring is a talent management strategy that focuses on a candidate’s skills, abilities and potential rather than simply their degree(s) and academic history. In a 2023 LinkedIn report on The Future of Recruiting, 75% of recruiting professionals said that skills-first hiring will be a priority for their company in the next 18 months. The same report found that when looking for candidates on LinkedIn, recruiters are 25% more likely to search by skills than they were three years ago and 50% more likely to search by years of experience. Businesses that adopt this approach will expand their talent pool and reduce hiring biases. It could also help to advance diverse, equal and inclusive initiatives, given that commonly overlooked groups will have greater opportunities to be interviewed and hired.
To win in business this year companies will need to include strategies that address and integrate these trends into their operations. When looking for nearshoring opportunities with jurisdictions that are already responding to these trends and can support your operations, you may want to consider Jamaica.
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