ADP Research Institute's "People at Work 2024: A Global Workforce View": Workers Recalibrated Expectations Amid the Great Transition

Core Insights - The post-pandemic work environment is being reshaped by technological advances, economic factors, and demographic changes, as highlighted by the ADP Research Institute's survey of nearly 35,000 workers across 18 countries [1][2] Group 1: Worker Expectations and Pay - Global inflation has reset worker expectations regarding pay, with workers in high-inflation countries expecting greater pay increases, although many may be disappointed based on past overestimations [3] - In Latin America, there is a notable mismatch in pay expectations, with a 6% gap in Brazil and a 5% gap in Chile between expected and actual pay increases [3] - 77% of workers anticipate a pay increase in the next 12 months, while 20% expect no change and 3% foresee a pay cut [3] Group 2: Multigenerational Workforce - The workforce is becoming increasingly multigenerational, with older workers retiring and younger generations entering the job market, necessitating a balance in addressing diverse priorities [4] - Workers aged 55 and older prioritize flexibility more than younger workers, with 31% of them ranking flexible hours as a top priority compared to 24% of those aged 18 to 24 [5] Group 3: AI and Skills Development - Workers are concerned about the skills needed for future jobs, with 70% of those who expect assistance from AI feeling confident about their skills for advancement, while those fearing AI show less confidence [6][7] - 53% of workers lack confidence that their employer is investing in their skill development, which correlates with increased concern about AI's impact on jobs [7] Group 4: Employee Stress Levels - The percentage of employees experiencing daily stress has decreased from 19% in 2021 to 15% in 2023, indicating a positive trend in employee mental health [8][9] - Only 21% of employees feel their employer fully supports their mental wellbeing, suggesting room for improvement in workplace support systems [9] Group 5: Strategic Recommendations for Employers - Companies must communicate clearly, manage worker expectations, and invest in skill development to navigate the changing labor market effectively [2][3] - Building employee trust and integrating AI into workflows will be crucial for employers looking to enhance efficiency and employee satisfaction [6][7]