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Is 2024 the year your career will flourish? Have you recently done some self-analysis as to where you are today and where you want to go? What’s the next step? Part of that decision should include understanding the critical forces that will directly affect your professional future as we go through the following year.
Change ran rampant in 2023 and will continue down that path in 2024. News about AI taking over the world and the workplace was everywhere. That will continue to happen in 2024 as more people use AI to perform their job. As I look through my career counselor lens, my predictions and insights come from my day-to-day work with job hunters and endless conversations with recruiters, HR leaders, executives, and managers. As you plan out your year goals, you need to know some important factors
LAYOFFS: LinkedIn reported that 85% of workers fear being laid off in 2024. So the one burning question in many people’s mind is, “Will I get laid off this year? Is my job in jeopardy?” The answer is - maybe. Tech jobs got hit the hardest last year, but many employees in other industries found themselves looking for work, too. Employees were blindsided when numerous companies cut long-term employees, eliminated whole divisions, and restructured with little warning. In 2023, those in tech, HR, and Sales experienced the most layoffs. And the technology industry once again demonstrated its ruthlessness by firing people right before Christmas. It’s unknown how the layoff picture will turn out for 2024, but layoffs will continue. If you hear rumors or see a mass exodus of senior leadership with some bad company financial reports, polish up your resume and start looking.
HIRING OUTLOOK: The most significant change last year was when we watched the super-hot job market cool off. Tech put the brakes on, and many other companies in other industries followed suit. Many large companies imposed hiring freezes, but not all. Unemployment remains in the 3% range, meaning most people have kept their jobs, and others have moved on to work elsewhere. Employers continue to seek out new talent as their hiring process is much slower, but they will continue hiring new employees. Certain jobs requiring a specific skillset will remain hard to fill, and that will not change.
PROMOTIONS: These will be plentiful and a key factor as you look at where you want your career to go. Employers will encourage loyalty by offering more internal promotions to keep the workforce they have at a time when employee retention is an important corporate goal.
JOB INTERVIEWING: Multiple HARD interviews are what job hunters face when they talk to a new employer. It will become common to have four or five meetings talking with different people at various levels before the employer decides. Although the hiring manager has the final choice, many companies now require a senior executive or the hiring manager's boss to meet the candidate. That person has 100% veto power. Answering situational questions requiring work examples is still quite a challenge for candidates. Expect these; don’t just wing it like many other candidates do. Prep! Job hunters continue to say that the toughest question for them to answer is still: What is your greatest weakness? To craft a good answer for this difficult question, read my Forbes article, A New Way To Answer the ‘What Is Your Greatest Weakness’ Interview Question.
LINKEDIN: An impressive LinkedIn Profile had employers reaching out to individuals who had never applied. Many people listened, started the interview process, and moved on to a more lucrative role. That pattern will continue since most of those positions brought to a person’s attention are excellent job opportunities paying a higher salary. Recruiters and hiring managers will likely review your LinkedIn Profile before making a job offer. Job seekers will continue to realize the importance of having an impressive profile. Ensure that yours is complete, contains relevant keywords, and clearly demonstrates your success and accomplishments on the job.
THE HIRING PROCESS: The ease of quickly moving on to a new employer got a little more difficult, and that is how it’ll remain during 2024. Hiring is now taking weeks to go through the cycle of resume reviews and interviewing a few different candidates. What changed was before there was often only one person being considered for the job. Within days of being contacted by a recruiter, the person was hired. It’s just a return to the “normal” hiring process before the red-hot market made everyone realize they could change jobs on a dime. This process slowdown has surprised job hunters, especially GenZ and Millennials. However, having more job candidates to choose from will allow employers to take weeks before they make a job offer.
Workers’ GOALS Changed. Jumping ship slowed down. Workers paused and became much more cautious than before when they could easily and quickly move on to a new employer. The fear of layoffs and the uncertain economy were the most significant factors that made individuals more grateful for their jobs. The following year, stability and job security will be in the driver’s seat as employees consider what they want to do with their careers. This new trend of remaining at your current job will be called “the Great Stay.”
NEW CAREER PATHS: Opportunities to switch career paths or move into a new area inside your company will likely get the go-ahead. Internal training to learn new skills will become widespread as employers seek to enhance their workforce capabilities for the future. Leadership training, upskilling employees, and mentoring will take on a more substantial role and be a key objective for employers this coming year. People will pursue new degrees, get certifications, and increase their soft and hard skills - to control their future, upward mobility, and job security. Collaboration is one of the hottest skill employers want you to demonstrate in 2024.
REMOTE WORK: Employers are pushing hard to force employees back into the office. The battle to work from anywhere is being lost. Hybrid is becoming the winning formula in a company’s eyes. They see it as a more innovative situation for everyone. Employers are responding to the 20somethings who want the in-office experience, see real people, need mentoring, a sense of community, and feel like they belong to an actual organization instead of heads on Zoom.
WORK WEEK GETS SHORTER: Human Resources leaders had a lot of conversations centering around this change. We have begun to see a new trend, changing a 5-day workweek to 4. That began to show its face in 2023 and will gain steam in 2024. More and more people have already stopped working on Friday afternoons. That may soon become the norm.
