8 workplace predictions for 2024

2024 has only just arrived and we’re already in the midst of a rapid evolution in the business landscape. I’ve explored these changes to bring you my top eight workplace predictions for the new year, shedding light on the trends and opportunities I believe will be shaping leadership and the way we work.

1. AI will continue to enhance recruitment - but the human touch will be crucial

AI is revolutionizing the way companies attract, assess and hire talent by:

• Streamlining candidate screening and shortlisting
• Analyzing resumes more quickly and objectively
• Enhancing the candidate experience with AI-powered chatbots
• Collecting and analyzing vast amounts of data to inform recruitment decisions

But here’s my caveat: while leveraging this technology will transform talent acquisition and reduce time-to-hire, the human touch must remain central. 

By combining AI with human expertise, businesses can create a powerful synergy in talent acquisition. AI will focus on providing data-driven insights so that humans can provide the strategic guidance and emotional intelligence that are crucial for making informed decisions.

2. Candidates will leverage AI to secure more interviews

So, AI is poised to redefine how businesses find talent - but how will it affect how candidates find jobs? 

In 2024, I predict that as AI tools proliferate and become more accessible, job hunters will use them to level the playing field and secure more interviews. Here’s how:

• By demonstrating digital literacy. Leveraging AI effectively shows an ability to adapt to new technologies, a skill that is highly sought after in this digital age.
• By optimizing their resumes. With AI, candidates can turn their resumes into dynamic profiles that harness keywords, satisfy applicant tracking systems (ATS) and position their work history into high-converting pitches for specific roles.
• By focusing on standing out. The time candidates save on writing resumes can be invested into thoughtful follow-ups, networking and finding new opportunities.

3. More companies will start prioritizing DE&I - with an emphasis on neurodiversity

Political unrest had a major impact on the global workplace in 2023: 80% ofemployees want to work for companies that value diversity and inclusivity. This is why I predict that 2024 will see companies double down on their DE&I efforts. 

Neurodiversity is emerging as a priority here—and for good reason. Cognitively diverse teams solveproblems faster and improveinnovation by 20%. In response, we’ll see businesses change their hiring tactics and adopt more inclusive practices that celebrate rather than penalize neurodivergence.

The challenging part will be developing and staying committed to long-term DE&I strategies. 

One way I see businesses championing this is by harnessing technology that’s specifically designed for inclusion in the workplace. For example, AI-powered Large Language Models (LLMs) hold a lot of promise with their ability to remove biased language in job postings. 

4. The rise of Gen Z will bring significant transformation to the workplace

2024 is the year Gen Z will overtake Baby Boomers in the workforce, kickstarting a big shift in what employers prioritize. For example, as these digital natives take over the workforce, businesses will be better positioned to accelerate innovation by embracing advanced technologies. Here are some other ways I think Gen Z will transform the workplace:

• A rise in flexible work arrangements as management responds to Gen Z’s demand for work-life balance.
• More purpose-driven initiatives that align with Gen Z’s sense of social responsibility.
• Higher salary expectations, with 54% of Gen Z employees leaving their jobs due to unsatisfactory salaries.

Businesses will also be forced to improve their development opportunities. Gen Z values continuous learning, and 73% ofthem say they’re willing to resign if feedback from their managers is lacking. This should motivate businesses to amplify their retention strategies, bringing me to my next prediction. 

5. Talent retention will become a bigger focus in the face of economic uncertainty 

Job-hopping will live on in 2024, with people who switch jobs seeing a higher growth in wages. This, combined with current talent shortages and economic uncertainties, means that employee retention will be crucial for employers in 2024. 

I predict that we’ll see organizations approach this in the following ways:

• Investing in their employees’ future by providing upskilling opportunities
• Implementing flexible options like remote working or adaptable hours
• Establishing clear career advancement opportunities 
• Aligning the business’ brand with its internal culture and values
• Prioritizing feedback, open communication and active listening

6. Sustainable hiring will become more popular as businesses embrace CSR

As companies strive to foster long-term success in a socially responsible way, I predict that sustainable hiring will continue to gain prominence throughout this year. 

A lot of companies now understand the importance of corporate social responsibility (CSR) and its positive impact on brand reputation. Sustainable hiring aligns with CSR goals, making it likely that companies will continue to prioritize ethical and socially responsible employment practices.

This will manifest in robust strategies for DEI, employee wellbeing, ethical recruitment, community engagement and fair employment practices. 

The goal won’t just be finding the most productive hires; it will be about building a more resilient and ethical business that contributes to the overall wellbeing of employees and society at large.

7. There will be more importance on passive hiring for niche, specialized and very senior roles

Engaging passive candidates has been important for lower and middle-level roles. But in 2024, passive hiring will become equally crucial for niche, specialized and senior roles.

This will be in response to the skyrocketing demand for highly skilled and specialized professionals. In competitive markets and with global talent shortages, businesses need strategies that attract top talent. Passive hiring means you can access a talent pool of people who may not be actively seeking a new role, but tick all the boxes.

Additionally, senior and specialized roles often require a high degree of compatibility between the candidate and the organization. Passive hiring, with its emphasis on relationship building, aligns well with the need for a personalized approach in recruitment.

8. Companies will offer better mental health benefits to attract and retain candidates

With Gen Z forecasted to make up more thana quarter of the global workforce by 2025, employers need to understand these workers’ prime concerns so that they can attract and retain fresh talent - and at the top of Gen Z’s list is mental health. 

Even in this tough economy, we see employers committing to mental health investments. According to Headspace’s FifthAnnual Workforce Attitudes Toward Mental Health Report, 64% of CEOs intend to increase mental health benefits.

Work-life benefits, free access to wellness coaching and promoting a healthier work environment are emerging as the top ways employers will support mental health in 2024. I also predict that we’ll see traditional employee assistance programs (EAP) be usurped by integrated offerings that offer comprehensive support for a range of mental health needs.

How Hanover can help

At Hanover, we have extensive expertise and offer a unique approach to executivesearch. Our predictions reflect not just what we see as key upcoming workplace trends, but also our commitment to offering comprehensive solutions that cater to the needs of diverse sectors. We invite you to explore these insights and consider the breadth and depth of opportunities that Hanover can bring to your business.

If you’d like to discuss any of these predictions in the context of your own business and find out how I can support you, contact me today.