What will professionals expect from companies in 2024?

6 de December, 2023

Aspects such as the pandemic, the socio-economic context and the entry of new generations of workers into the labor market have contributed in recent years to a change in professionals’ expectations of companies.

It is estimated that Generation Z could represent 27% of the workforce in OECD countries by 2025 and the people who make up this group – born between 1997 and 2010 – have higher expectations of companies and their work than ever before.

In addition, the trend of low unemployment rates and the scarcity of talent mean that professionals have greater authority and influence to convey and claim their interests.

For this reason, it is essential for companies to find out what their employees and potential candidates value and to be aware of trends in order to attract and retain their human capital.

Discover 5 aspects that professionals will expect from companies in 2024.

1 – Concerns about health and well-being

According to Gartner, companies still have a way to go in terms of looking at employees as people and not just as workers. This means recognizing, on the one hand, that work is just one part of people’s lives and, on the other, that it should contribute to their quality of life – and not the opposite.

In this sense, it is fundamental:

Don’t compromise and encourage work-life balance;
Building an inclusive organizational culture and a pleasant workplace without toxic traits;
Ensuring access to health care (for example, through the provision of health insurance or benefits to support health costs);
Promoting and facilitating regular physical activity;
Pay attention to the growing number of cases of burnout and provide mental health support.

Investing in employees’ health and well-being has a direct impact on reducing absenteeism and increasing their satisfaction, motivation and productivity. Ultimately, it contributes to their involvement with the organization and retention.

2 – Fair and competitive salaries

Factorial’s “Retaining Talent in the Digital Age” study reveals that more than half of Portuguese highlight competitive and fair salaries as the main action organizations can take to retain talent.

Although professionals value other aspects beyond their salary, the truth is that remuneration is something that cannot be underestimated. In 2024, a good salary component will undeniably be something that workers will expect from their employers.

This is all the more understandable given the inflationary context we have been experiencing over the last year, with the rising cost of living having a strong impact on families’ budgets.

3 – Extra-salary benefits

Mitigating the impact of inflation can also be done by granting extra-salary benefits, since some of these benefits make it possible to increase purchase power without increasing the company’s tax burden.

Employee benefits are increasingly valued and can be expected to continue to be so next year – all the more so the more flexible they are.

The benefits granted by companies must be adapted to the needs, interests and life stages of employees:

Childcare benefits are very useful in the case of employees with young children, who have to pay for crèches, nurseries, kindergartens and the like;
Education support benefits for employees with children or dependents of school age, which help to cover the cost of schools, books and manuals, school supplies, etc.
Benefits that support professional training and the development of employees’ own skills, which can be used at universities, language schools, training centers, etc.
Benefits to support health expenses and social support, which professionals can use in hospitals and clinics, opticians, nursing homes, among other services.

Ask your employees about their needs and the most valued benefits, so that their implementation is really useful.

4 – Flexible working models

Flexible working models will continue to be favored by professionals, in particular the hybrid regime (some days working from home and other days at the workplace).

According to a Qualtrics study carried out in 32 countries, hybrid work will be a very important aspect of employee engagement in 2024. In turn, the Deloitte study “Gen Z and Millenial Survey 2023” concluded that more than half of those surveyed, who are part of these two generations, prefer hybrid work because they consider it to be positive for their mental health.

At the moment, the hybrid work model is the most popular in the Portuguese job market and the widespread preference for this option will prevail next year.

5 – Investment in skills development

People like to feel that organizations invest in them, in their training and in their growth. This investment is a sign of recognition and empowerment.

According to the GoodHabitz study “The Current State of Personal Development in Organizations”, 84% of employees consider their personal development to be important and 4 out of 5 believe that it is essential for employers to invest in it.

In 2024, try to design a solid career progression program in your company and provide opportunities for professional training and skills development. The results will be positive in terms of performance and productivity, but also in terms of employee satisfaction and involvement.

As the job market evolves, the concerns of leaders and managers should not only be how to make their businesses grow, but also how to make their people feel heard, valued, recognized and involved.

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