1、driven byTALENT TRENDS 2024What OUR exclusive survey insights mean for YOUR hiring and retention strategies in 2024THE EXPECTATION GAPFlexibilityDE&IAI2SalaryIntroduction from our CEO,Nicholas KirkWho took our survey?How the Expectation Gap is apparent across.Salaries:Demands are rising as wage grow

2、th fallsFlexibility:Hybrid isnt working for allDE&I:The difference between intention and impactGen AI:Keeping pace when careers are changingConclusion:How to bridge the Expectation GapAbout PageGroupContentsTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI3SalaryAn Expectation Gap has

3、 opened up in the workplace.How can we bridge the divide?Last year,our flagship Talent Trends survey shed light on a significant shift within the world of work,which we termed“The Invisible Revolution”.Coming out of the pandemic,a convergence of factors resulted in a subtle but transformative change

4、 in workplace dynamics,with people thinking more holistically about the value their job gives to their lives.Now,just 12 months on,the situation has evolved again with significant implications if you are hiring,or looking for your next role.Finding people strategies that work for all is becoming mor

5、e of a challenge-something we call“The ExpectationGap”.On the one hand,workers have a growing list of expectations stretching far beyond competitive salaries and flexibility.On the other,employers are facing significant pressures in a rapidly evolving business environment,making it harder for both s

6、ides to meet in the middle.To dive deeper into this,we spoke to 50,000 workers worldwide for our 2024 Talent Trends survey to uncover how people are really feeling and the critical insights employers need toknow.Here are some of the key findings:While wage growth is slowing globally due to economic

7、pressures employers are facing,workers still expect higher salaries to keep pace with the rising cost of living and feel valued for their contributions Flexibility has become a flashpoint as employers grapple with implementing hybrid working models that meet both business needs and employee preferen

8、ces With five generations now in the workforce,maintaining a dynamic and inclusive culture where everyone can be their authentic selves is more complex than ever AI is no longer a concept rooted in the future.Its already affecting peoples daily working lives and career decisions,adding another layer

9、 of complexity to the talentmarket“The Expectation Gap”permeates all facets of the modern workplace,emphasizing the importance of aligning expectations to foster a productive and cohesive work environment.In the following pages,youll discover insights and recommendations to bridge the gap,cultivate

10、inclusive cultures,and confidently navigate the evolving recruitment landscape.Leveraging our strength as a global recruitment company and drawing on our proprietary data and technology,we provide valuable expertise,market knowledge,and insights to our customers,serving as a trusted partner.With a p

11、resence in 37 markets worldwide,our team of specialist consultants stands ready to assist you in navigating the complexities of the modern workforce.They can be reached via phone call,video call,or email,or you can click here to request a call back.I hope you enjoy the report.Nicholas KirkCEO at Pag

12、eGroupTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI4SalaryTalent Trends is the most robust and comprehensive workplace survey of its kind in the world today50,000survey participants globally37Insights coveringcountries1.AutonomyandflexibilityPeople-first,flexible workplaces that p

13、reserve work-life balance.2.Respect and trustWhere people feel valued,listened to,and understood at work.3.Proactive response to changeSupport as work continues to evolve around new technologies.Mind the GapKey expectations uncovered in our Talent Trends surveyTalent Trends 2024 The Expectation Gapd

14、riven byFlexibilityDE&IAI5SalaryWho took our survey?12%20s25%30s29%40s35%50s9%Top-level (e.g.C-suite)25%Senior-level (e.g.departmental managers)21%Mid-level (e.g.line managers)32%No managerial responsibilities9%identify as having adisability/long-standing health condition8%part of LGBTQIA+communityE

15、mployedUnemployedEntrepreneur/business owner/freelanceOther63%24%8%5%AGEMANAGEMENT RESPONSIBILITIESPEOPLE WITH DISABILITIESLGBTQIA+EMPLOYMENT STATUSRELATIONSHIP AND FAMILY DEMOGRAPHICS67%married or living with partner40%have children29%singleTalent Trends 2024 The Expectation Gapdriven byFlexibility

16、DE&IAI6SalaryThe Expectation Gap on SALARYDemands are rising as wage growth slowsTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI7SalarySalary is(still)kingBut are demands for higher wages rooted in reality?Despite living in a time of global flux,the number of people actively job see

17、king remains high.Against a backdrop of political and economic uncertainty,with some notable global powerhouses falling into recession in early 2024,the rapid wage growth we saw during the bounce-back from the pandemic driven largely by skills shortages in many sectors is now slowing down globally.H

18、owever,this isnt deterring workers in their desire for higher and higher salaries and this is where our first mismatch of expectations comes into play,with wage demands increasingly out of sync with the economic challenges many employers are facing.Rather than settle for stability,employees who are

19、unhappy with their current salary are willing to change role in order to earn a higher wage.Its not a small fraction of the workforce,either.Some 2 in 5 people are unhappy with their current salary,and a majority of those are actively job-hunting,intending to move on within the next six months.Over

20、half of those who are seeking a new role consider a higher salary to be an essential motivating factor behind the move,and its also one of the key priorities when accepting a new position.Even though more than half of workers are happy with their salary.55%42%3%will be actively job seeking in the ne

21、xt 6 monthsOf this group,1/3 say it is because they want a higher salary53%Happy with salaryUnhappy with salaryDont know The State of the Market:SalariesSalaryis(still)kingbutaredemandsrooted in reality?Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI8SalaryEmployers acknowledge dema

22、nds for higher wagesEveniftheresagapinwhattheyreabletoprovide,employers still recognize salary as a key factor for talent attraction Salary undoubtedly matters most to job hunters and this is recognized by the employers we spoke to in our survey.The situation is even more pronounced when you compare

23、 this years data with the findings from the Talent Trends survey we ran last year.Employers believe peoples workplace expectations to be higher than last year,from providing not only a higher salary,but also work-life balance and flexible working hours,showing that they are doubling down on their de

24、sire for greater autonomy.What do employers believe to be the top factors for workers when recruiting talent?20232024Higher salaryHybrid/flexible working arrangement Flexible working hours37%22%23%53%29%27%Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI9SalarySALARY GUIDESWhat shoul

25、d you really be paying?Check out our Salary Guides for the latest information across key sectors and industries in your marketCLICK HERETalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI10SalaryThe Expectation Gap on FLEXIBILITYHybridisntworkingforallTalent Trends 2024 The Expectation

26、Gapdriven byFlexibilityDE&IAI11SalaryWorkers are demanding autonomyWhatstheeffectofbringingpeoplebacktotheofficethroughpolicychanges?Businesses emerged from the pandemic with new cultures,shaped by the sudden and unexpected shift to remote working and influenced by the personnel changes which occurr

27、ed during the same period.Now,many employers are struggling to find a hybrid model which works for all sides-all while recognising the fact that,for employees,work-life balance is not a“nice to have”,but a“need to have”.Job-hunters expect hybrid practices to be clearly outlined-these are prioritized

28、 in both job searches and when considering whether to stay in current roles.For employers who are looking to get people back into the office to reap the obvious benefits around collaboration and culture the biggest challenge is incentivizing the behavioral change.Our study demonstrates that attempti

29、ng to force the issue by instituting new attendance policies can drive attrition.Some 53%of people who told us they were coming to the office more this year for this reason are also active job seekers.Employeesnowexpecttobeabletocontroltheirownworkingpatterns to a certain extent,and challenges to th

30、is autonomy are causing dissatisfaction at work.People currently working in a hybrid arrangement areWorking more in an office than 12 months agoWorking remotely more than 12 months agoWorking in the same arrangement as 12 months ago37%25%35%Why are they working in the office more than 12 months ago?

31、Company policy has changed/become stricterMore face-to-face meetingsColleagues are coming in more oftenBetter for career developmentTo learn more from colleagues49%28%17%16%15%Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI12SalaryBalance vs burnoutIn the face of continuous change,i

32、ts perhaps not surprising people are prioritizingtheirwell-beingGlobal crises are continuing to affect a huge portion of the populations overall attitudes-both within and outside of work.The International SOS Risk Outlook Report 2024 notes that a high level of successive,ongoing stressors(such as th

33、e climate crisis,civil and social unrest,and the rising cost of living)are contributing to a level of employee burnout which many organizations believe they are unequipped to deal with.A result of the turbulent times,this burnout is making people resistant to changing how they work and,as mentioned

34、earlier in this report,dissatisfied when the choice is taken from them.So much so,that even if their salary isnt on par with expectations,people will stay in a role which offers significant work-life balance.Nothing demonstrates this more clearly than the fact that employees are even willing to refu

35、se a promotion in order to maintain well-being indicating a shift in the general approach to work.48%of people will turn down promotions in order to maintain well beingTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI13SalaryFlexibility is a universal priority And expectations only co

36、ntinue to grow around its importanceA preference for flexibility above all else is not unique to any one group;its a concern among all levels of the workforce.Our survey shows that there is only a minimal difference in opinion across age groups and those at different stages of life.The implication-t

37、hat the desire for balance overcomes more traditional priorities such as an appetite for job progression even among junior workers-highlights the extent to which working patterns have evolved in a relatively short period of time.The ability to work flexibly is no longer an optional perk its somethin

38、g employees expect.Percentage who would be willing to refuse a promotion to maintain their overall well-being20s30s40s50+45%47%48%51%AgeEuropeNorth AmericaSouth AmericaAPACAfricaMiddle East57%49%43%43%40%33%RegionMarried w/out childrenSingle w/childrenMarried w/childrenSingle w/out children52%48%48%

39、46%Relationship and family demographicsTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI14SalaryEmployees became accustomed to flexible working over the pandemic years,and their expectations shifted to accommodate the freedoms they experiencedA significant portion of the workforce wil

40、l view prescribed changes to their working patterns as a loss ofautonomyTo manage dissatisfaction,it will be important to clearly communicate expectations around working patterns and to explain the reasoning behind changesWell-being and work-life balance have become inextricably linked,and well-bein

41、g is a priority amongst workers experiencing burnout after a tough few yearsAn emphasis on the well-being benefits of working policies could help maintain job retention among those now required to attend the office more regularlyTAKEAWAYS AND TIPSFlexibilityTalent Trends 2024 The Expectation Gapdriv

42、en byFlexibilityDE&IAI15SalaryThe Expectation Gap on DE&IThedifferencebetweenintent and impactTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI16SalarySome stark stats on DE&IIs company culture suffering at thehandsofflexibility?Modern work culture doesnt begin and end with flexibilit

43、y.Diversity,Equity&Inclusion(DE&I)also play an important part in the new dynamic.During the pandemic,businesses had to focus on one thing above all else:survival.Now,as employee expectations around DE&I come to the fore once again,employers are facing the challenge of catering to more complex needs

44、than ever before.Whilst hybrid models have undoubtedly helped workers to achieve better balance in their lives,DE&I initiatives have suffered.Employers have found it harder to build and maintain a healthy company culture as workforces spend less time together in the same physical space.Meanwhile,for

45、 the first time,five generations are active in the workforce.This is increasingly affecting workplace dynamics,even just in terms of how to fairly cater for different needs at different stages of peoples lives.Building a culture which allows everyone to be their authentic selves and perform at their

46、 best means first understanding their diverse concerns,perspectives,and expectations.The pressure to navigate these expectations is having a visible impact on attitudes within workplaces,with overall trust in DE&I initiatives low across a range of elements.Only.believe their workplace is inclusive1

47、in 3 feels they can be their authentic self at workA fifth think their senior leadership team is diverse26%35%19%Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI17SalaryDiscrimination:Adifficult discussionAn appetite for positive change hasneverbeenstrongerbutisreality matching inten

48、tion?One in five of our survey participants said theyd been discriminated against at some point in their career,with 9%stating they had experienced it within their current job role.Discrimination based on age was the type most frequently experienced.This was most prominent at opposite ends of the ag

49、e spectrum in the workplace,with those over 50,followed by those in their 20s,most likely to have experienced agediscrimination.Gaps were also notable in how different demographics perceived steps already being taken to tackle inequality.For example,only 35%of women said they were satisfied with the

50、 work being done to close the gender pay gap,compared to 49%of men.This is clearly a complex issue for employers,but some of the problems may lie in effective communication and implementation of DE&I initiatives.This is underlined by the fact that those who should benefit from such programs are ofte

51、n the least satisfied by their outcomes,according to our data.What types of discrimination have workers faced?feel marginalized or discriminated against at work9%44%Age27%Race25%Gender identity and/or sex20%Socioeconomic status14%Marital status13%Religion or belief9%Pregnancy/maternity8%Disability7%

52、Sexual orientation42%20s35%30s34%40s56%50+Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI18SalaryA clear gap in trustMany workers who have experienced discrimination are choosing not to report itEven if employers have reporting frameworks in place as part of their DE&I agendas,these

53、 are not often utilized by those in need.More than two thirds of the people who experience marginalization or discrimination at work dont go on to report it which raises the question of why.The implication is that theres something keeping them from doing so,whether thats a fear of reprisal as a resu

54、lt of their whistleblowing or a lack of trust that any meaningful change will come as a result.Ensuring that employees feel able to report incidents of discrimination is key to creating a work culture where people feel safe and respected.This in turn helps to generate job loyalty and boost employee

55、retention,leading to overall higher levels of happiness and satisfaction in the workplace.Almost 1 in 10 have been marginalized or discriminated against in their current job.Yet less than 1/3 report the discrimination they experienceTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI19S

56、alaryTAKEAWAYS AND TIPSDE&IHybrid working has changed the makeup of modern businesses and made it more difficult to build and maintain company culture when people are spending less time together in the same physical spaceFive generations are now active in the workforce and while there are many commo

57、nalties between them,different demographics naturally want and need different things from workThese changes have meant that DE&I has become more complex in recent years,and both employees and employers are aware of the pressure to navigate increasingly mixed expectations and avoid conflictWith less

58、than a third of workers who have experienced discrimination reporting it to their employers,clearly more work needs to be done on building a culture of trust and respect and to ensure channels of communication are as open as possible Trust takes time to rebuild,but it starts with a culture of clarit

59、y:around policies,reporting procedures,and ensuring everyone is aware of expectations around their conductTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI20SalaryThe Expectation Gap on Gen AI Keeping pace when careers arechangingTalent Trends 2024 The Expectation Gapdriven byFlexibil

60、ityDE&IAI21SalaryThe future is nowThe AI age is already here and its having a major effect on peoples careersAs awareness and adoption of AI has accelerated over the past couple of years,speculation has been rife about how it will fundamentally change peoples lives,with experts predicting that whole

61、 sectors will be transformed by thetechnology.However,the days of AI being a concept rooted in the future are long gone.For many,there is no need to wait to witness the impact of AI;it is already felt in their day-to-day lives.While AI tools are not fully implemented for all yet,as many as a third h

62、ave already used a form of AI in their current role whether thats using Generative AI to create content,or a tool to complete sales forecasting or sentiment analysis.The technology will continue to grow and develop at pace.Workers know this and there is growing awareness of the impact AI is likely t

63、o have on future careers.52%Over half of workers(52%)believe that AI will impact their long-term career plans1 in 3 are already using AI at work nowTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI22SalaryAre employers leading the way on AI?Education is just as important as adoptionOu

64、r study highlights that,when it comes to AI maturity,employers are only slightly further along in their journeys than their employees.It suggests a widespread uncertainty about how to proceed,and implies that many companies may be struggling to implement firm AI strategies in general.Given that many

65、 workers are expecting AI to impact their careers in the long-term,employers could benefit from taking control of the narrative,increasing their AI literacy,and defining a strategy that focuses on the potential benefits of this innovative technology.Percentage of employers and employees using AI in

66、their current role38%Employers30%EmployeesOnly 8%gapTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI23SalaryTAKEAWAYS AND TIPSAIEmployees are expecting more changes as AI creates uncertainty about the future of work.People expect their employers to be ready for rapidly accelerating c

67、hange and to prepare them in turnUpskilling and reskilling employees to prepare them to embrace the change will prove crucial to mitigating anxieties surrounding AIAt present,many employers are exploring the benefits of AI in terms of automating menial tasks,driving efficiency,and boosting productiv

68、ity.This can naturally lead to nervousness among workers about what it means for them which is highlighted by the fact that half are already factoring AI into their long-term career plansHowever,this dynamic also creates an opportunity within a companys employee value proposition.Having a clear comp

69、any vision on the role of AI in the future-prioritising the human skills that technology may never be able to replicate-can actually have a positive impact,turning something that could drive anxiety into an element that helps companies to hire and retain top talentTalent Trends 2024 The Expectation

70、Gapdriven byFlexibilityDE&IAI24SalaryHow will you bridge the Expectation Gap?The expectation gap we have explored in thisreportisvisibleacrossallelementsof the modern workplace from salaries andhybridpoliciestoAIstrategiesandDE&I initiatives.Bringing expectations backintoalignmentwillbevitalforemplo

71、yers as they create a new dynamic.Our study suggests a solution:acknowledging the diversity in attitudes towards work and,therefore,approaching any issues with open communication and mutual respect.Clearly stating expectations around issues,such as workplace attendance,technology strategies,and incl

72、usion initiatives will reassure many employees,who may subsequently feel more engaged in ongoing conversations.When hiring,you need to authentically build an image that fits with a potential employees vision of their future.Theres no one-size-fits-all solution its about nurturing trust between emplo

73、yees and employers so that open communication can take place and expectations can be recognized and met.Expectations might be out of alignment now.But we believe that,more than ever,knowledge is power when finding solutions to these challenges and ultimately bridging the expectation gap to forge a f

74、uture that works for all.CONCLUSIONTalent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI25SalaryCONCLUSIONKEY TAKEAWAYS AND TIPS Thethree-stepprocesstorealigningexpectationsand creating a modern workplace dynamic Create a culture of open communication and clear expectation-settingBuilding

75、 trust isnt about delivering on every ask from workers and goes both ways-people have work to do to convince employers their version of flexibility and hybrid working is viable.Its important to communicate openly and honestly about decisions,even if they are not going to be universally popular.Manag

76、e workplace anxieties and demonstrate a preparedness for future transitions Its fine to not have all the answers to conundrums around culture,flexibility,and technology immediately but acknowledging where approaches will need to evolve can build confidence and help people to prepare for whats coming

77、 next.Human capital is any organizations greatest asset and requires continuous investmentAs weve explored,there are more varied expectations for employers to navigate than ever.Its important to understand that there is no universal solution.Its about balancing individual needs and recognizing that

78、its impossible to deliver on all of them with those of the collective workforce.Buildtrust-bothwaysBecome change-resilientAlwaysbepeople-first123Talent Trends 2024 The Expectation Gapdriven byFlexibilityDE&IAI26SalaryGive the tool a tryExplore our data your wayWhat weve detailed in this report is a

79、mere fraction of the insights from our Talent Trends 2024 survey.When it comes to finding the talent you need in this ever more competitive hiring landscape,we know that knowledge is power.Thats why weve also launched an innovative interactive tool,which puts all the information you need on whats dr

80、iving the talent market right at your finger tips.You can explore our data your way-by choosing any two filters across countries,industries,or job functions-and the tool is an easy point of reference to come back to as many times as youneed.Talent Trends 2024 The Expectation Gapdriven byFlexibilityD

81、E&IAI27SalaryAbout PageGroupAre you hiring?Whatever your recruitment needs look like,our specialist teams at PageGroup are ready to help you find the right talent for your business.Scan or click on the relevant QR code to get in touch with one of our consultants.Executive searchPage Executive the ex

82、ecutive search division of PageGroup offers a fresh approach to search,selection,and advisory solutions for leadership talent.Recognized for the expertise and global reach of our consultants,as well as our powerful in-house research function,our tailored services,speed of delivery,and high success r

83、ates are why organizations worldwide choose Page Executive to secure their leaders of tomorrow.QualifiedprofessionalsMichael Page provides specialized recruitment services for professionals at middle management to leadership levels,along with highly specialized technical positions.Flexiblerecruitmen

84、toutsourcingPage Outsourcing specializes in delivering high volume talent acquisition solutions for permanent and temporary workforces.With the ability to meet ongoing or outcome based hiring needs,Page Outsourcings support covers recruitment process outsourcing(RPO),managed service programs(MSP),and talent acquisition advisory services.Talent Trends 2024 The Expectation Gapdriven by