Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
- In 2024, ongoing stress, burnout, persistent loneliness, and the looming “Great Gloom” will pose significant threats to employee wellbeing.
- A Deloitte Marketplace Survey suggests burnout could become the workplace epidemic of 2024. Alarmingly, 53% of employers are experiencing burnout, surpassing even employee rates.
- To counteract potential adverse wellbeing effects in 2024, employers should reinforce their initiatives, offering personalized, compassionate support for all employees but with a specific focus on Gen Z.
Various shifts in wellbeing have emerged as pivotal to shaping the attitudes and needs of employees across the labor market in 2024. Utilizing bi-annual surveys, meQuilibrium (meQ) has been gathering data on employee wellbeing since 2020. Initially centered on pandemic-related wellness, their research now encompasses productivity, retention, and optimism across diverse industries.
Their latest study presents a nuanced view of future wellbeing trends. While symptomatic stress shows a decline, a record low in American workers’ positivity is evident, with 75% expressing a more negative outlook toward the state of the country.
Six Factors Predicted to Impact Wellbeing in 2024
Employee wellbeing will be crucial in 2024 (and beyond) as workplace dynamics change amidst a continued cost of living crisis and global financial uncertainties. Termed “the Great Gloom,” rising pessimism among workers in response to these conditions is notable.
What key factors will shape employee attitudes and wellbeing demands in the upcoming year amid this rapidly evolving post-pandemic business landscape?
Workers will feel vulnerable in the face of economic adversities
Amid slower global economic growth predicted in 2024, organizations will continue to face financial uncertainties, leading to heightened anxiety around job insecurity. Challenges related to layoffs, turnover, and retention will persist, with approximately 13.8% of workers (primarily from the Gen Z cohort) intending to leave their jobs. Moreover, increased susceptibility to negative news, life changes, and daily disruptions could continue adversely impacting productivity.
Less symptomatic stress but more job-related burnout
Though employees show reduced physical stress symptoms, levels of job-related stress are increasing, notably in the tech and communications sectors — up by 83% and 91%, respectively. Burnout remains a significant global concern, especially in India (with rates as high as 59%). A Deloitte Marketplace Survey suggests burnout could become the workplace epidemic of 2024. Alarmingly, 53% of employers are experiencing burnout, surpassing even employee rates.
Loneliness and disconnection at work will impact mental health
The combination of loneliness and disconnection in the workplace can profoundly affect mental health; therefore, addressing this issue — highlighted as a growing epidemic by the U.S. Surgeon General — will be crucial in 2024. Workplace loneliness often stems from limited participation in group activities, a sense of not belonging, or feeling invisible. Although prevalent before the pandemic, these feelings have escalated due to economic pressures and health challenges. Long work hours, remote arrangements, and lengthy commutes further constrain social interactions, exacerbating this issue.
Persistent conflict over return-to-office mandates
Despite return-to-office (RTO) mandates, the employee preference for remote work will persist in 2024. While remote work improves work-life balance and offers scheduling flexibility, it is also linked to loneliness — emphasizing the need for employers to prioritize employee wellbeing and encourage better work-life balance. The meQ study highlights conflicting attitudes toward remote work, exposing job security concerns amid employers’ insistence on a return to the office. RTO mandates heighten worker stress, creating a sense of reduced employer support (notably in mental health assistance).
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Gen Z shift toward more purpose-driven careers
An anticipated 13.8% of the workforce intends to depart from their roles within the next six months — Gen Z in particular. Gen Z’s attitude towards quitting is motivated by a desire for greater life purpose, personal growth, meaningful connections, and alignment with company values. Organizations failing to meet their aspirations will likely face increased turnover in 2024 and beyond.
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Personalized strategies for holistic wellbeing
In 2024, workplace wellness strategies could shift towards more personalized approaches, recognizing the varied needs of workers beyond a standardized model. Employees will prioritize holistic health solutions encompassing financial, physical, social, emotional, and mental wellbeing. There will also be a significant increase in the adoption of AI to enhance personalization and refine employee wellness initiatives.
What Impact Will These Dynamics Have on Employee Attitudes in 2024?
National pessimism vs. personal optimism: 75% of U.S. workers feel pessimistic about the state of the nation (the ongoing economic crises, for example), half express increased despondency about personal finances, and a third feel worse thinking about work relationships. However, despite these challenges, most employees anticipate improvements in their finances and work prospects in 2024.
Poor perceptions of employer support: Despite employer investments in mental health, childcare, and benefits, discontent over inflexible RTO mandates may persist next year. This reveals a mismatch between provided benefits and actual employee needs. Employee-reported support from employers declined from 66.2% to 58.2% last year, with projections indicating further drops in positive perceptions of managerial support in 2024.
Persistent Job Dissatisfaction: Work-life balance will remain a priority for employees. Despite increased wages, more time off, and greater autonomy, there is a notable decline in overall employee satisfaction. Research shows that 34% of American workers experience significant work-related “dread.” New employees express the lowest job satisfaction, hinting at onboarding process shortcomings. These factors will contribute to 13.8% planning to leave jobs by mid-2024.
Gen Z’s Challenge – The Search for Purposeful Work: Despite facing higher stress levels than their older counterparts, Gen Z remains optimistic. However, they are prone to prolonged pessimism due to distrust and a perceived lack of psychological safety at work. In 2024, Gen Z’s work goals will prioritize a meaningful experience, valuing trust, inclusion, recognition, and purpose over traditional perks.
How Will These Attitudes Shape Employee Needs in 2024?
In 2024, prioritizing employee wellbeing remains crucial for fostering workforce resilience. Employers, therefore, need to revamp support initiatives, emphasizing tailored wellbeing strategies accommodating individual differences in resilience, life stages, and preferences. Gen Z requires specific support in managing stress, work dynamics, and financial pressures, necessitating investment in leadership training and resilience-building. Robust monitoring of mental health, physical wellness, sleep, and stress levels will be key to achieving this.
A more compassionate leadership style could build resilience, reduce burnout and mitigate job dissatisfaction. Supportive environments boost retention and productivity, cutting turnover risks by 44-55%. However, productivity-centric strategies must prioritize employee wellbeing, emphasizing accountability towards employee welfare over productivity.
In 2024 there will be an increased demand for digital wellbeing programs, aligning with the prevalence of hybrid and remote work. Employers must enhance accessibility, offering diverse platforms, online resources, and AI-driven approaches. Efforts should focus on facilitating screen breaks, tech-free zones, and digital detoxes.
Next year, psychological trust, transparent communication, and alignment with purpose will be pivotal. Employers must also demonstrate greater awareness of cultural, societal, and global contexts to sensibly and sensitively tailor their support.
What Do These Trends Indicate for the Future of Work Beyond 2024?
Amid ongoing economic uncertainty and global challenges, prioritizing the wellbeing of all employees remains paramount. Despite indications of economic recovery, workforce vulnerabilities are expected to persist in 2024. A focus on building resilience among employees will be required to equip them to navigate future challenges more effectively.
Furthermore, with Gen Z projected to comprise 30% of the workforce by 2030, it will be essential for employers to provide support tailored to their specific needs — including mentorship, financial guidance, and customized wellbeing initiatives to boost retention, resilience, personal growth, and development for this cohort.
These diverse wellbeing needs mirror the diversity within the existing workforce. As we near 2024, there’s an optimistic outlook that more organizations will prioritize workplace wellbeing, establishing it as a global strategy to cultivate thriving workforces.
