The workplace is changing more rapidly than ever. In 2017 we've seen progress in narrowing the wage gap, a shift from offshore to nearshore outsourcing for agile software development, and the rise in popularity of nontraditional benefits. Things will undoubtedly continue to gain pace in 2018. Here are some of our predictions for top workplace trends we will see in 2018 and beyond.
Higher Turnover from Burnout
Full-time workers in the U.S. work an average of 47-hours a week, with 40% of workers saying they work at least 50 hours. The availability of communication via technology means employees are forced to work in their off hours without additional compensation. This trend directly relates to the increased trend in workplace burnout which HR professional attribute to almost half of annual workforce turnover. This trend is set to continue into 2018 for companies that fail to create wellness and flexibility programs that encourage employees to take time off for their health.
Artificial Intelligence in the Office
Artificial intelligence is the next big technology trend. Apple, Google, Facebook, Amazon, and Microsoft are all incorporating AI into their upcoming devices and services in order to create "smarter products." In particular, businesses will be using Chatbots more and more to handle operations including on-demand customer support, data mining, personal assistance, and human resources. Internet retailer Overstock.com uses an HR chatbot called Mila that alerts managers when their employees are sick. Meanwhile, employees at Intel use an HR virtual assistant to answer questions about benefits and pay.
Emphasis on Human Interaction
Companies will continue to explore the effects of interpersonal relationships between workers. We've already seen this trend in action this year as IBM shut down their remote worker's program and the new Apple Park in Cupertino, designed to increase worker relationships and collaboration. Companies are hoping increased socialization in the workplace helps boost office morale while fostering creativity.
In order to "higher up" and fill the growing skills gap in the workforce, companies are investing resourcing in "upskilling," or providing current workers with additional training and education that allow them to fill higher positions. The National Federation of Independent Business reports that 45% of small businesses can't find qualified candidates. Meanwhile, 60% of all employers have open positions that remain vacant for twelve weeks or more. Employers hope the process helps workers stay relevant in positions automated in the future.
An Aging Workforce
The Baby Boomer generation is living longer. The number of people 65 and older should triple by the years 2050. Meanwhile, a higher quality of life is keeping them in the workforce longer. About three out of every four Americans plan to work past retirement age. Projections expect the aging workforce to cost companies in the form of equal opportunity, retirement benefits, and healthcare. Meanwhile, younger employees will have a harder time advancing in their careers as senior employees maintain their leadership positions. At Number8, we keep our finger on the pulse of both past and future workplace trends. We think keeping up with this news helps us implement the things that work in our business practices. We do this for increased job satisfaction for our employees while providing services that satisfy our clients' needs. If you’re interested in learning more about Number8 and what we do, give us a call at (502) 890-7665, or check out our information page here!
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number8’s onshore office is located in Louisville, Kentucky where our Account and Relationship Managers work hard to provide all of our clients with exceptional customer service. We also have consultant offices located in Escazú, Costa Rica and San Pedro Sula, Honduras that give us a strong local presence allowing for top-level recruitment, technical training and low employee turnover.