Each year since the pandemic, the world of work has significantly transformed, from remote work, to TikTok Gen Z trends of “lazy girl jobs,” and “quiet-quitting,” to global trends that have triggered mass coverage across news outlets and social media such as “The Great Resignation,” and “The Great Rebalancing.” As we near the close of this year and consider the future of work, what is the outlook for 2024 and how will these predictions impact our careers?
Here are four key trends that are rapidly gaining a foothold in workplaces worldwide that you need to be aware of that are shaping the future of work:
Gen Z is taking over
Gen Z, a rapidly-growing generation, is predicted to constitute 23% of the global workforce by 2024. They are also currently estimated to be the most ethnically diverse generation, with more than 50% from non-white backgrounds. Having witnessed their Gen X parents endure the struggles of The Great Recession while they were growing up, and having seen (and often experienced) first-hand the effects of discrimination and the aftermath of the pandemic, this vibrant generation is fresh with ideas and the creativity to make a tangible difference in the future workplace and its culture.
Gen Z is naturally more tech-savvy than their older counterparts, due to coming of age at a time when social media platforms and smartphones were gaining rapid adoption, and appear to have a more open mind to the use of AI tools, social media, and other technologies to advance their careers and forge a name for themselves in business. Gen Z are not generally adverse to risk but tend to favor trends such as the gig economy, side hustles, and holding multiple jobs at a time, in an effort to evade poverty, financial instability, and the increased cost of living due to inflation.
Their slightly older counterparts, Millennials, and older generations such as Gen X and Baby Boomers, need to prepare for this sudden wave of Gen Z talent, and welcome their fresh innovative skill sets, while training and developing them to be more effective with their soft skills gap in the workforce. Gen Z can also proactively seek to polish their soft skills through being more self-aware, attending training to upskill and develop their leadership capabilities, and seeking the mentorship of older generations.
It’s become virtually impossible not to notice the effects of AI, in particular, Generative AI, in the world of work. According to EY’s recently released “Work Reimagined Survey,” GenAI is “expected to have an outsized impact on the labor market, on career and learning pathways, and on the realities of work.” “With AI and machine learning specialist job categories expected to balloon in the next five years, employees and employers are also already building expectations and investments around the technology,” the report continued. MORE
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