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Welcome to 2024!
If youโre anything like us, youโre wavering between the regimented organizing habits the new year brings (which are all totally going to stick), a post-holiday fog (how do I do this job again?), and the onset of winter hibernation. While the new year is an arbitrary starting point, it can be both fun and comforting to have little rituals we all collectively follow. This is our time to look back, plan forward, and imagine the future. This week, we asked the Bright + Early team for their predictions on what the world of work would bring in 2024. Hereโs whatโs in their crystal ball:
"Sourcing salary data online has become a lot easier because of AI, but I'm finding that a lot of the generated salary data that comes up in a quick google is less and less accurate. Employees are finding these sketchy sources and, if they're higher than what they make, feeling underpaid. This means companies need to get really confident about not only using real, researched salary data sources, but explaining to staff how their compensation actually works. This can only really happen when there's a philosophy and sound strategy in place."
Trisha Neogi, Senior Consultant and Compensation Lead
"Seeking more community (but not romanticizing 5 days in a cubicle), remote and hybrid workers will choose more specialized, boutique coworking locations that cater to their interests, vibes and social groups. Friends will rent offices together."
"More vacation spots will cater to working vacations and coworking. Going beyond the early adopters and full time digital nomads, more remote workers will simply choose to take a โworking vacationโ without taking actual time off. Hotels and resorts with both great wifi and childcare will win."
"I also think someone will invent and brand a system of remote work for teams that they'll claim is foolproof. CEOs will try to force their teams into it in-masse, like the agile transformations and Spotify squads of the 2010's."
Nora Jenkins Townson, Founder
ย "Employees will place more value on parts of compensation that protect their financial wellbeing now e.g. cash base salary, RRSPs), vs. incentives that require "making bets" on the company's future to receive a reward that may benefit them later (e.g. equity). With the rising cost of living, coupled with disillusionment from constant layoffs and instability of many companies, employees are less keen to design their compensation around hypothetical value. They want things that will help them financially that feel real."
"Side hustles and having more than one job will become more popular, again to protect people from instability."
"Similarly, small companies may partner for secondments. Instead of having to do layoffs during tough times, they might agree to split employee time and resources with another, similar organization. This could also create communities of companies that share common threads, spaces, and people."
Gillian Jose-Riz, HR Consultant
Working on your resolutions? Check out our hands-on guides.
If your resolution isโฆ
If you need support with your 2024 HR goals, weโre here for you! Keep following along for for monthly Bright + Early Guide drops, along with templates, tips and shareables. To collaborate on a project or have Bright + Early as your own HR team, reply or drop us a note.
Coming Up
January 13 is Maghi
January 15 is Martin Luther King Jr Day (and a bank holiday in the US)
January 25 is Mahayana New Year
January 27 is International Holocaust Remembrance Day
sisyphus when heโs allowed to work from home
— ๐ท๐๐๐ ๐๐ ๐ธ๐๐๐๐๐๐ (@valkalrie)
Jan 8, 2024
๐๐ฝ Bright + Early is a team of progressive HR pros that can help you build incredible people programs. Want to be known as a great place to work?
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