The ADP Research Institute’s “People at Work 2024: A Global Workforce View” sheds light on evolving worker expectations as the world navigates a post-pandemic landscape. Based on survey responses from nearly 35,000 workers in 18 countries, this fourth annual report reveals critical insights into how technological advancements, economic shifts, and demographic changes are reshaping the world of work.
The Great Transition
As the global economy moves from a pandemic-driven crisis to a post-pandemic reality, significant changes are underway. The report highlights the ongoing impact of the pandemic, technological innovations, and demographic shifts that are driving substantial changes in the workplace.
Key Findings:
- Pay Expectations in an Inflationary World:
- The global bout of inflation has recalibrated worker expectations regarding pay. Workers, especially in countries with high inflation, anticipate pay increases, although many overestimate potential pay gains.
- 77% of workers expect a pay raise in the next 12 months, while 20% foresee no change, and 3% anticipate a pay cut.
- Employers are encouraged to manage these expectations with transparent communication about corporate initiatives and their implications on salary, flexibility, career progression, and training opportunities.
- A Multigenerational Workforce:
- The workforce now spans five generations, each with distinct priorities. Employers must balance initiatives to support diverse age groups to maintain a positive work environment.
- Younger workers (25-34) prioritize career advancement over daily job enjoyment, while older workers (55+) value flexibility and autonomy over their schedules.
- Flexible work arrangements are highly valued, particularly among younger workers, with 17% of those aged 18-24 emphasizing the importance of choosing where they work.
- AI and Job Skills:
- The integration of AI into the workplace is a top priority, with a significant focus on building employee trust and investing in skill development.
- Workers confident in their AI-related skills feel prepared for future career advancements, while those apprehensive about AI express lower confidence in their skillsets.
- 53% of workers lack confidence in their employer’s investment in their skill development, highlighting the need for strategic training initiatives.
- Declining Stress Levels:
- Daily stress among workers is on a downward trend, dropping from 19% in 2021 to 15% in 2023. However, a significant portion of North American workers, particularly in the United States, report high stress levels.
- Only 21% of employees feel their employer fully supports their mental wellbeing, underscoring the importance of stress mitigation strategies.
Navigating the Future
As companies navigate this transitional period, understanding workforce sentiment is crucial. Clear communication, aligning worker expectations, and investing in skill development will be key to staying ahead in a rapidly changing labor market.
Nela Richardson, ADP’s Chief Economist, emphasizes the need for employers to stay attuned to worker sentiment: “This continuous evolution of work is both a challenge and an opportunity. Companies that keep worker sentiment in mind can turn change into a growth opportunity.”
For more detailed findings and regional insights, access the full report at ADPRI.org.