The Future of Work Exchange continues its series on 2024 Future of Work predictions, courtesy of the industry’s brightest thought leaders and executives. The below insights are peeks into what the year ahead may bring for organizations across the globe regarding talent, technology, and work optimization. (Read Part I and Part II of our predictions series.)
“Peak AI hype will fade. However, the most innovative and competitive companies will take on the true challenge of AI’s digital disruption – its people. The paramount skill sought by companies will be “good judgement,” elevating it from a soft skill to a crucial human-in-the-loop necessity. Companies will realize that their AI adoption challenge isn’t access to technology, it’s access to people with the skills and bandwidth to stand up the programs. – Tim Sanders, VP of Client Strategy, Upwork
“2024 will see increased dissolution of silos between extended and FTE workforce management, accelerated by integrative technologies and the demand for more flexible, high-impact talent strategies.” – Jeff Mike, Head of Insights and Impact at Flextrack
“Classifying independent contractors (and avoiding misclassification) will be even more crucial in 2024. Compliance risk is always a concern when engaging a large contingent workforce. Growing companies may mistakenly classify someone as an “independent contractor” when that person should technically receive the benefits of “employment.” U.S. labor laws are becoming more specific, with a new proposed Six-Factor “Economic Realities” Test to determine worker status on the horizon. Companies must be mindful of labor laws and IC classification, as each country (and even each U.S. state) has its own nuances. Misclassifying employees as independent contractors carries risks and penalties, including fines, jail time, or being banned from talent acquisition in that country. Cover your compliance bases in 2024!” – The Team at WorkSuite
“A lot of excitement around AI and the Future of Work is still about how it’s generating efficiencies and improvements. But, as companies go past that initial fervor and move towards a more strategic transformation there’s going to be even more demands on finding skills, upskilling and shaping a new look organization. Businesses will need to learn from digital transformation and recognizing that as work changes, an extended workforce is more able to have the skills to plan and deliver those changes.” – Sandeep Dhillon, CEO, Talmix
“The era of corporate monoculture is over. Gen Z is the most culturally aware, globally-connected generation we’ve seen, and they bring a variety of backgrounds, skills, and expectations to the workplace. For 2024, expect far less desire to conform and a greater emphasis on customizable benefits and perks, along with increased consideration of mental health and ethics. The one-size-fits-all, US-centric approach to culture building will be replaced by employee-driven, bottom-up programs that prioritize self-directed engagement and cross-cultural learning. As part of that, executives will need to be trained on cross-culture (and cross-generational) communication. This is a generation that has learned to set their own rules and build skills on the fly, evolving and learning alongside the technology they used to study and connect. Now that they’re in the workplace, Gen Z doesn’t want to be micromanaged; they crave trust, autonomy, and flexibility in their work. Given freedom to experiment, this generation will continue to reinvent the way we look at work, including working remotely, hybridly, and independently as preferred career choices.” – Jessica “JJ” Reeder, Director of Remote Organizational Effectiveness, Upwork
“The proliferation of artificial intelligence as viable and accretive to decision-making has been remarkable to witness this year. The toothpaste is fully out of the tube and there’s no turning back. What’s interesting to see, however, is how some of our predictions last year on the impact of AI on the workforce evolved with the benefit of hindsight. It was originally thought that AI would have an outsized impact on front-line work and those in traditionally blue-collar roles, perhaps as automation took hold in factory and warehouse settings, but as it turns out, many are predicting a greater degree of disruption on IT and marketing roles, which could have profound implications on we view job roles and structures, especially in tech. Conversely, I predict that AI will be beneficial to industrial staffing and the supply chain workforce ecosystem as we realize with increasing confidence how certain job functions aren’t easily performed by anyone other than highly-skilled human beings. There’s a combination of judgment, experience, intelligence, and physical dexterity that coexists seamlessly within the skilled trades, and that’s a confluence of assets that we haven’t yet seen AI capable of credibly pulling off, nor do I see that as likely in the near future.” – Vinda Souza, VP of Corporate Communications, Employbridge
“I expect to see increasing collaboration and maybe even consolidation of traditional parts of the ecosystem with some of the newer entrants. The recently-announced Upwork partnerships with VMS providers have beaten the New Year’s Eve chimes, and I’m sure we’ll see more marketplaces embedded with MSP partnerships and VMS integrations, as the enterprise puts more emphasis on the extended workforce, and wants to bring all the components together. We’re describing 2024 as the year of the grown-up talent marketplace, and instead of competing against centralized programs, they’ll be a part of it.” – Dorothy Mead, VP of Marketing and Brand, Talmix
“Distributed work is going to continue to grow and become “smarter” as we all learn how to work differently. Technology is only getting better at connecting us and removing friction that remote work used to have e.g. dropped calls, lack of knowledge-sharing tools, etc. In fact, according to our recent research, days in the office do not directly correlate to higher performance because trust and flexibility are at the core of fostering distributed teams. As people analytics continues to mature as a discipline, thanks in large part to AI, we’ll be able to better customize work arrangements based on data, allowing for greater individualization of work.– Dr. Kelly Monahan, Managing Director, Upwork Research Institute
“Recruitment technology companies have been trying to solve the problem of shift scheduling for years, with varying degrees of success. Now that we’ve reached a tipping point, I predict that AI will help effectively connect candidates with gig work opportunities that not only match their skill sets, but also accommodate their scheduling preferences – and it will be quick and seamless. All of this ties into a broader theme of mobile platforms and artificial intelligence making life easier for workers – to find, apply for, and manage multiple gig jobs, but most importantly, to offer greater flexibility and control over their work lives and futures. Over the past several years we’ve seen increasing consolidation across the staffing ecosystem and the infusion of private equity into staffing, although that cooled somewhat in 2023. For next year, I anticipate that AI-driven efficiencies and advancements in experience design will lead to further market consolidation, with larger staffing firms acquiring and/or integrating with smaller, specialized firms that shore up gaps in segmentation or technical capability. This consolidation, in turn, will ideally lead to a more unified jobseeker experiences, giving candidates broader access to varied job opportunities through the availability of fewer, but more feature-rich and extensible, platforms.” – Colin Mooney, Chief Transformation Officer, Employbridge
