The world is fast evolving, with key trends to look out for concerning workplace culture in the year ahead. Being only a few weeks into 2024, we explore the trends HR should identify and adapt to in order to keep up. Below, we discuss the meaning of company culture and what organisations should focus on to improve their own.
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What is Workplace Culture?
Before outlining the key trends for 2024, it’s important to understand the meaning of company culture fully. In essence, the culture in the workplace represents the core beliefs, values and practices of those within a company. From top to bottom, everyone collectively buys into a common set of foundations regarding the way they think and act.
This may begin with a company determining their core values, as commonly found on many organisations’ websites. However, the workplace culture will become more deeply ingrained in everything the company does over time. This could include how a company works, looks after its employees and develops talent.
Workplace Culture Key Trends for 2024
We have previously discussed flexible working several times, and this year will be no different. Ever since the pandemic, flexible working has been high on the agenda for employers and employees.
Many companies now offer hybrid roles with some time in the office and the rest working from home. There are even some companies that are fully remote, and whilst there may be communication difficulties, productivity and work-life balance could improve.
According to one report, internet searches for remote working have increased by 154% over the last five years. This adds to the growing list of research on the topic and shows that more employees value flexibility.
With the current skills shortage employers face, they must consider how their workplace culture could attract and retain talent. Since remote working is currently held in high regard by employees, forcing return-to-office policies could lead to mass resignations. Therefore, this is an area employers must think carefully about to ensure they continue growing and developing their talent pool.
A thriving workplace culture wouldn’t be complete without a focus on wellbeing. It has previously been found that a happy and healthy workplace is also a hardworking and motivated one. Companies that focus on the wellbeing of their employees will see more resilient, loyal workers who help the business succeed.
However, with the high demands and speed of the working world, stress is a growing threat to such success. Gallup, the American analytics company, found that 44% of employees said they felt a lot of stress. This is concerning since stress can affect an employee’s performance and increase absences and staff turnover.
Therefore, by nurturing employees and providing multiple layers of support, employers can help minimise individuals’ stress. Doing this could help retain talent and improve the attendance and performance of employees.
Diversity, Equality and Inclusion
When discussing the meaning of workplace culture, we explained it represents a company’s core values. Just like in years gone by, diversity, equality, and inclusion (DEI) will be essential values for organisations to address.
In fact, the management consulting firm McKinsey & Company conducted a study concerning DEI. They learned that leadership diversity goes hand in hand with improved company performance, impacts on society, and employee experience.
Moreover, both the individuals within a company and its clients are more aware of DEI issues. They speak out more about the problems and pressure businesses to resolve them. As such, employers must tackle DEI to meet society’s expectations and succeed from a growing, diverse workforce.
Learning and Development
For the final culture in the workplace trend for 2024, we discuss concerns about leadership. Specifically managers. More research conducted by Gallup discovered that managers account for 70% of the variance in employee engagement. This means that the better the manager, the higher the employee engagement and the more productive the workforce.
With this information, one might expect that managers are carefully looked after and developed to promote company success. Yet this isn’t the case, and many managers are currently struggling. Some suggest this is because they now operate larger workloads on much tighter budgets. Others attribute their struggles to the difficulties of managing their leader’s objectives with the needs of subordinates.
Regardless of the reason, managers clearly need help because a struggling manager leads to a less successful workplace. Therefore, to ensure company success, businesses must adequately train their managers. This will help them balance increasing workload demands and understand those they manage to improve working relationships.
A Conclusion on 2024 Workplace Culture Trends
With the new year ahead, HR departments should take a step back and review their workplace culture. This is because they may find areas of strength and areas they could improve. Focusing on good company culture can help ensure employees are happy and improve productivity. Therefore, by considering the highlighted trends, companies can improve their culture and accelerate their success.
We hope you enjoyed reading this article about the company culture 2024 trends. Sign up for our newsletter for the latest employment news! Also, if you have any legal queries, contact Redmans Solicitors today, who are employment law specialists.