As baby boomers inch closer to retirement, and Gen Z starting to find work, we can get a good look at how the trends are changing in the workplace. Right now, there are 5 different generations, each with a unique culture and drive. Watching these new patterns emerge will give us a good glimpse at what to expect for future generations.
A lot of these new trends involve a growing number of people who work from home. They’re working longer than ever before, delaying retirement, and leaving office jobs behind entirely. The advancement of the internet has allowed for more possibilities at home. Let’s take a look at the 5 current workplace trends of 2019.
1) We’re Less Loyal to Our Employers
According to new data from salary.com, the employee turnover rate in America was higher than it’s ever been. The number, currently at 19.3%, has been growing in the past few years. Korn Ferry did a survey of businesses and found that most of those surveyed (93%) stated their biggest problem was retaining new hires.
This is a big deal. Companies will spend millions looking for and training new talent. Having a high turnover rate costs a lot of money, so more companies are improving their salary and benefit packages to attract and keep workers. The problem is, the economy is doing really well job wise currently. That means people are less afraid to quit if they’re not happy where they work.
“Competitive benefits and salaries are table stakes to attract top talent, but creating an environment where employees are given interesting work and recognized for their efforts will give them a reason to stay,” says Korn Ferry VP Neil Griffiths. “Unhappy employees will not go above and beyond the basic requirements of their job, even if they are well paid.”
2) More People Are Working Remotely
According to CareerBuilder, at least 70% of employees around the world spend at least one day per week working remotely. 53% work away from the office at least half of the week. A lot of companies are learning they can save money and make their employees happy by allowing for a mobile workforce. As a result, they experience a boost in productivity and growth.
“People from Seattle to Singapore, London to Lagos no longer need to spend so much time in a particular office,” says IWG CEO Max Dixon. “We are entering the era of the mobile workforce and it is hugely exciting. Not just for individual employees, but for businesses too,” said Max Dixon, CEO of International Workplace Group.
3) Job Markets are Becoming Increasingly Competitive
As stated previously, it costs companies money to hire and retain happy workers. In order to bring in the right talent, companies need to ensure they are as competitive as their competitors. Even now, as the unemployment rate drops to historic levels, companies are fighting over a worker shortage.
4) Americans are Working Longer
One of the strongest trends we’ve seen are people who are pushing off retirement. Many workers feel as if they haven’t saved enough. MarketWatch has stated that this isn’t a new trend. The number of people pushing off retirement has grown since the ‘80s. Employers allow it so they can retain some workers.
We’re living longer and are healthier once we reach that age. 80% of employers are supportive of their employees working past retirement age if they feel they need to. 72% say they believe their workers will stay on past the age of 65, especially as programs like social security begin to fade away and insurance becomes more expensive.
“People are living longer than in any other time in history, which is putting a strain on Social Security and intensifying shortfalls in personal retirement savings,” says Catherine Collinson, president of TCRS. “Therefore, many workers envision working past traditional retirement age. However, their ability to do so is highly dependent on the support of their employers.”
5) Dress Codes are Changing
A study done by OfficeTeam found that half of the managers they spoke with said employees are wearing less formal attire than they previously did. In another bid to improve employee satisfaction, bosses are easing up their dress code a bit. A comfortable worker is a happy worker and they’ll be less inclined to leave. 31% of workers said they’d rather work for a company that has a more casual dress code or no dress code at all.
“Employees should take their cues from company guidelines and what others in the office are wearing. Some industries, for example, are more formal than others,” says Brandi Britton, a district president for OfficeTeam. “A casual dress code doesn’t mean that anything goes. Staff should always look professional and project an image that reflects positively on the business.”