What YouWill Find InThis Report For more than 10 years, we have been trackingFOURkeyFORCESimpacting the future of work: •Shifting Demographics•Tech Advancement•Competitive Drivers For 2024, we’ve identified14underlyingTRENDSthat provideINSIGHTSinto both employee and employer perspectives. Trends Driving the Age of Adaptability In the dynamic landscape of the modernworkplace, seismic shifts are reshapingthe foundations of how we define work.The convergence of technological A“New Employer-Employee Compact”isemerging as traditional roles are rebalancingand being reinvented in the face ofunprecedented change and opportunities. LeveragingUntappedTalent Pools Shifting Demographics Despite influxes of Gen Z workers, workforces globally continue to age. Developed nations facewidening talent shortages as more experienced employees retire. •Seasoned Employees: Offer reskilling and flexible schedules to retain and re-engage mature workers •Returners/Career Changers: Enable transition reskilling through rapid upskilling programs •Employees with Less Traditional Experience: Consider candidates with high potential and Reskilling existing and new employees from diverse backgrounds fosters workforce continuity.Retaining institutional knowledge also aids with ongoing multi-generational management. Bridging the Generation DivideThrough Strategic Reskilling •In Europe, the share of the population ages65 and up is increasing in every European Globally, organizations face a growing imbalance between rapidly rising Gen Z workersentering the workforce and more experienced employees leaving. By 2030, Gen Z willcompose 58% of the labor pool; at the same time, broader demographic trends reveal rapidly •Roughly one-in-five Americans ages 65 andolder (19%) were employed in 2023 – nearly This widening demographic gap produces multifaceted talent challenges: generationalknowledge loss from retiring baby boomers, Gen Z seeking updated skills blending technical By 2050,1 in 4 peoplein Asia andthe Pacific willbe over 60. Targeted reskilling and mentorship help bridge talent gaps across generations.Cross-training programs can enable Gen Z and seasoned employees to transfer institutionalknowledge. Offering mentorships, stretch assignments, and new learning opportunities Why the Present — and Future —Workforce will be Female-fueled When the pandemic hit, millions of women left theworkforce, which many feared would take decades torecover from. However, in just three years, employment •Women are half of the world’stotal working population, yet holdless than one third of managerialand leadership positions. Specifically, among 25-54-year-old women, the laborforce participation rate has hit record highs. This agebracket has jumpstarted brand new careers, advocated •Despite a Tech Talent shortage,women make up less than athird of the world’s workforce in DEIB: Catalyst for Innovation andCreativity Fostering diversity, equity, inclusion, and belonging (DEIB) has developed from a moralimperative into a core business strategy. Companies embracing DEIB are realizing two key Companies with high levels ofdiversity were39% more likely •Innovation Upswing:Diverse teams bring broader perspectives, unlocking creativity.Organizations that champion inclusion better reflect customer diversity, increasing market •Talent Magnetism:Today’s top talent increasingly prioritizes workplace inclusion whenchoosing roles. Companies perceived as having diverse and equitable work cultures havea competitive edge in attracting skilled employees. Equity and belonging boost retention, •There is a perception gap. While 68% ofleaders say their business provides an inclusive environment, only 36% of theiremployees agree. The data shows work cultures that maintain diversity, ensure equity, promote inclusion, and Untapped and Underestimated:Immigrant Talent as a Critical Pipeline Employers today face high labor demand with insufficient domestic talent supply. This accelerating skills gapcompels innovative recruiting approaches and wider talent pipelines. Many now recognize the promise within Forward-looking multinationals lead in sourcing skills globally, implementing best practices for inclusion thatwelcome international applicants. Their integrated workforces better represent diverse customer values and While global hiring alone cannot fully address immediate talent deficits, it allows employers to access skillswhere demographics and job preferences align. Successful integration of these multicultural teams creates •The top 5 markets for findingskilled talent are the United States, “Automation, migration, and changes in the working-age population arereshaping labor markets in Europe, the Middle East, and Africa. There is no •51% of European consumers saythey are more likely to buy TechAdvancement Technology is a powerful ally As generative AI evolves at a rapid pace, experience tells us that technology has proven to be apowerful ally, aug