This report from McKinsey suggests that as many employees adopt generative AI at work, companies are struggling to follow suit. The research finds that early adopters prioritise talent and the human side of generative AI more than other companies - nearly two-thirds of them have a clear view of their talent gaps and a strategy to close them, compared with just 25% of experimenters. They also focus heavily on upskilling and reskilling as a critical part of their talent strategies, as hiring alone isn't enough to close gaps and outsourcing can hinder strategic-skills development. The report recommends that in order to harness employees' enthusiasm and stay ahead, companies need a holistic approach to transforming how the whole organisation works with generative AI and transform their processes, structures and approach to talent - the technology alone won't create value.
Korn Ferry's new Motivation Meter, which examines workplace trends and dynamics affecting employee sentiment across employees' roles and career stages, reveals that the UK has the lowest levels of motivation, with only 60% of professionals indicating that they are motivated compared to 71% globally. The research also reveals a significant gap in motivation between CEOs (81%) and those who are not managers (57%), which is attributed to several factors, including the reprioritisation of work-life balance, uneasiness around the rise of AI, and ongoing struggles to find a sense of purpose at work. Millennials were found to be the most motivated generation (75%), with motivation decreasing as age increases.
This research by The Upwork Research Institute reveals that 71% of full-time employees are burned out and 65% report struggling with employer demands on their productivity. Leaders are optimistic that generative AI will boost productivity, with nearly 96% saying they expect the use of AI to increase their company's overall productivity levels. However, new technology has not yet fully delivered on this productivity promise: nearly half (47%) of employees using AI say they have no idea how to achieve the productivity gains their employers expect, and 77% say these tools have actually decreased their productivity and added to their workload.
This report from Deloitte reveals that around one in three young people feel only neutral or feel negative about their work. It identifies that this sentiment reflects the key challenges young people are experiencing at work, including a lack of fair and reasonable pay, lack of opportunities to build skills and experience, and a lack of flexible working hours. The research and insights uncover three critical opportunities that must be unlocked to enable and accelerate ‘meaningful work’ for young people, and these opportunities are critical in driving benefits such as greater health and well-being, stronger skills and increased employability, and progress toward equity and increasing belonging.
Thomson Reuters' latest report, based on data from 2,200 professionals and C-level corporate executives from over 50 countries, reveals that the rise of AI and Gen AI remains the dominant issue that respondents see propelling change in their respective professions. The report explores what professionals think about how AI can improve both workplace efficiency and add value to their work products and client services, revealing that AI-powered tech could free up the average professional as much as four hours per week in the next year.
The latest OECD Employment Outlook report reveals that employment has increased to a record high since the pandemic but warns that the transition to net zero emissions by 2050 will lead to significant shifts in labour markets from high-emission industries towards new opportunities in green-driven jobs. The report suggests that the move towards emerging green-driven occupations will be more challenging for workers in low skilled positions than for the high-skilled, and calls for urgent policy action to ensure that no one is left behind by the net-zero transition.
This report from PwC reveals that more than two-thirds of employees (68%) say they have experienced more changes at work in the past year than in the 12 months prior. The top three areas of change at work are: use of new tools and technologies (48%), increased workload (46%) and changes in team structure and daily responsibilities (both 43%). The research reveals that employees are increasingly prioritising career growth and willing to switch jobs to develop their skills, with 78% agreeing that learning opportunities influence their decision on whether to leave their current employer. Non-financial rewards are as critical as pay - employees rank financial reward (77%), fulfilment (69%), and flexibility (64%) as their top job priorities. This year's findings also reveal a heightened expectation for employers to address climate change and reduce their environmental impact, suggesting the need for a proactive response from employers to ensure alignment with their workforce.
The World Economic Forum’s latest Top 10 Emerging Technologies report explores how breakthroughs in artificial intelligence (AI) such as deep learning, generative AI and foundation models have enabled remarkable progress in strengthening human innovation. The report delves into the specifications of the top 10 emerging technologies of 2024 and how they can help improve the state of the world.
The latest PwC Global Workforce Hopes and Fears Survey reveals that more than half of workers feel there's too much change at work happening at once, and 44% don't understand why things need to change at all. The report proposes six actions businesses can take to build a future-fit workforce in an age of transformation, including (1) leading in new ways to build resilience among a stressed out workforce; (2) engaging employees on change to drive transformation; (3) helping employees lead on innovation; (4) instilling confidence in Gen AI; (5) recognising how critical skill-building is to workers; and (6) prioritising the employee experience for performance.
The Open University’s 2024 Business Barometer report outlines the major skills challenges and opportunities facing UK employers, finding that 62% of organisations are currently facing skills shortages and 68% report this has increased the workload on existing staff. Moreover, while artificial intelligence (AI) and green technology adoption may be increasing, many organisations say they are not yet confident in deploying them, which could further impede progress in innovation and efficiency.