Building a resilient workforce of the future means understanding your workers. Over the past five years, the Adecco Group has interviewed over 82,000 employees across 25 countries – including China – to capture global workers’ perspectives and equip employers with the tools to future-proof their workforce. These are some of the findings about the labor market trends that have transformed the world of work since 2020:
2020: A Flexible Future
Unsurprisingly, 2020 was defined by the COVID-19 pandemic, which forced lasting organizational transformation. Trust became a pivotal issue, both for managers providing safety during the crisis, and for workers, 78 percent of whom said that feeling trusted to be productive would remain a priority after the pandemic.
More flexible work was another key trend, with 75 percent of workers believing it will benefit them and 73 percent saying it will benefit businesses. Perhaps not surprising then that three quarters of global workers believed a mix of office-based and remote work was the best way forward.
2021: The Great Re-Evaluation
The prolonged physical and mental pressures took their toll on employees, with burnout a significant concern for almost four workers in 10.
Hybrid working became the norm, with eight out of 10 believing it benefited both employees and employers. Many people also wanted a shorter working week. Globally, 73 percent of workers said contracts should prioritize meeting the needs of the role over the hours worked.
Employees, meanwhile, responded to their own shifting priorities by upskilling and considering a career reinvention. Indeed, more than half of workers (52 percent) said they were dissatisfied with their career development at their current company.
2022: The Great Resignation
The year 2022 was one of resignations and fresh starts. Almost a third (27 percent) of workers said they planned to quit their current job within 12 months. As a result, the job market became increasingly candidate-driven.
Salary was the single biggest factor motivating workers to change jobs. However, companies offering flexible work practices and upskilling opportunities came out ahead in talent retention. Tellingly, only half of workers thought their company invested in developing their skills and almost a quarter had never had a conversation about career progression.
2023: The Rise of AI
That trend didn’t just come to a halt in 2023, it seemed to have reversed. The number of people staying in their job rose.
What changed? Upskilling and career development opportunities became the main levers for talent retention – and it seemed employers were delivering. One of the top three reasons workers wanted to stay in China was: “I am happy with my job as it uses my skills.”
Job automation and AI impact on workers were equally dominant trends. Encouragingly, most workers (63 percent) thought AI would have a positive impact on their jobs, and just 7 percent considered generative AI a threat.
2024: Adapting to an AI-Driven World of Work
So, what are global workers saying today? Are workers still feeling optimistic about the promise of AI?
The only certainty appears to be uncertainty. The evolution of AI means workers continue to grapple with its implications on their jobs and their employability. This year’s research will also investigate the tangible productivity impacts of AI and the unleashing of human potential.
The 2024 Global Workforce of the Future report has more on how employers can navigate change today to make the future work for everyone. It can be downloaded from Adeccogroup.com.
