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Far from being the “roaring ’20s” that everyone hoped for, the 2020s have so far been turbulent times. In 2023, employees faced several challenges: Inflation eroded their buying power, prompting them to revisit compensation with their employers; return-to-office mandates required that they adjust to the new world of hybrid work; and climate impacts, wars, and other macro events played their predicted role among the four shocks reshaping where and how employees worked.
But it wasn’t all bleak. Generative AI lit a fire of innovation under a previously fallow artificial intelligence market. In 2024, employees and employers both stand to benefit: Employees will be empowered with new generative AI-based tools, such as Microsoft 365 Copilot or Google Duet, that help them make rapid progress toward their work goals while their employers simultaneously tally the productivity benefits.
Exemplifying the upcoming EX recession, diversity, equity, and inclusion programs will see disinvestment: The percentage of companies that funded a DEI function with an endorsed strategy and personnel dropped from 33% in 2022 to 27% in 2023; we predict that this number will fall to 20% by the end of 2024 in the wake of cuts that disproportionately affect DEI teams.
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