Companies can’t afford to stay outdated in a constantly changing work environment. They must keep up with the latest trends to retain talent and improve their turnover rate. In 2021, companies experienced high turnover rates due to employee dissatisfaction, which concerned most business owners.
We must know that this trend and others will influence the future of work, so we must be aware of what’s coming, whether you’re an entrepreneur, HR manager, or an employee. In this article, we will discuss some of the key trends in the future of work.
Globalization
Before the pandemic, there was already a growing trend for remote work. The pandemic just accelerated the adaptation process. This work-from-home trend has increased globalization in all ways.
Companies are not limited to hiring in-region candidates; they have a vast pool of prospects they can hire from all over the world. Since they don’t have geographical boundaries, they can find the best employees for their company.
The same happens with employees. Employees are not limited to regional employers, they have an extensive list of potential companies to work at, so they’re in a better position to choose the best one.
New Demands
The pandemic caused a dissatisfaction effect called the ‘’Great Resignation,’’ which is a phenomenon where people massively quit their jobs. In December of 2021, 4.3 million workers quit their jobs. This was caused by multiple reasons such as burnout, fatigue, low salaries, and poor work-life balance.
Now, this puts employees in a better position to negotiate. They expect better salaries to keep up with inflation and more work-life balance. With the pandemic, people started appreciating life more, many suffered the loss of a relative or were emotionally influenced by the pandemic. This is one reason why employees prioritize work-life balance as a key factor in choosing a job.
Mobility
One of the best things about the new work environment is that there’s no need to remain in a particular place. You can work wherever you want. You only need a laptop or desktop and an internet connection.
This mobility trend has also encouraged people to travel. Some have become digital nomads and don’t have a particular place to call home, and others just leverage the cost of living differences. That is something we’ll dive deeper into the next topic.
New Salaries
The cost of living differs in any city, region, or country, so their salaries also vary. What would happen if you could keep your New York salary while living in a low-cost city like Cleveland? Your earning potential would feel higher, even though it’s the same salary.
Since it didn’t seem fair to some companies, they started implementing location-based salaries. However, nobody likes a salary cut. According to Hired’s 2021 State of the Salary report, 58 percent of workers are unwilling to accept a salary reduction in exchange for working remotely.
This has opened a huge debate about salaries, especially in tech workers such as software developers and digital marketers, who were already accustomed to working remotely prior to the pandemic.
Companies must reach a compromise with their employees if they are to work remotely in the future. Some companies are willing to pay the same wages despite remote work.
Read About: a woman working remotely on her desk
Cloud Collaborative Workspace
Another trend we might experience is the increased use of data science tools such as cloud computing. This trend allows for an instant collaborative environment, regardless of each team member’s location.
They’re able to send files, comment on each other’s work, edit them, and more. Cloud computing makes information accessible for everyone in the organization without depending on in-site servers.
In Summary
Although we can’t always predict what will happen in the future of work, we can definitely analyze hints to know what to expect. Some of the leading trends in the future of work include cloud computing, more globalization, and different employee demands.
The workforce is creating a movement to change the entire work dynamic. They want better salaries and more work-life balance to spend time with their loved ones and take care of their well-being. It is also critical to keep up with current trends by taking online courses to improve your skills.