Future of work & productivity (2024)

1. The four-day work week is still a thing

   Companies have been thinking about the four-day work week since even before the pandemic — but in 2022 it started to get trendy.

   What originally appeared like a short-lived experiment is proving to be a fundamental change for a lot of companies. As talent shortages make it more difficult to attract and retain employees, companies are increasingly thinking about shifting to a shorter work week.

   According to research from Gartner, 63% of candidates rated “four-day work week” as the top benefit that would persuade them to take up a role.

2. Are CVs on the way out?

   A degree from a high-ranking university may have been enough in the past to land you a top job, but with the requirements for workers rapidly changing, especially in the age of AI, companies are increasingly leaning towards skill-based hiring. 72% of hiring professionals in the UK already use skills assessments in recruitment, while 63% have adopted skills-based recruitment methods to achieve D&I objectives.

   The argument posed for skills-based hiring is that CVs are an unreliable indicator of a candidate’s potential and often lead to biased hiring decisions. Companies in Europe have popped up to meet demand for skills-based hiring — such as Applied, TestGorilla and Retorio — but how quick the uptake will be in startup land remains to be seen. It’s clear some European companies are still swayed by a snazzy CV and a former career at Google.

3. The productivity gains of AI

   Many companies are hopeful shiny new GenAI tools are going to solve the global productivity conundrum, with companies using the tech for a range of tasks from typing out emails and scheduling meetings to answering employees’ HR and legal questions. But while 79% of leaders agree AI adoption is critical to remain competitive, 60% are concerned they don’t have a clear vision to implement AI. Also, 59% worry that they can’t yet measure or quantify the productivity gains of AI, according to a study by Microsoft.

   Companies are dilly-dallying when it comes to implementing AI. Only 39% of GenAI users have received relevant training from their company — but workers are taking matters into their own hands. They’ve started bringing their own AI tools to work which has even led to a new acronym (BYOAI; bring your own AI).

4. Learning to speak Gen Z

   This new generation of workers are upending work life as we know it — demanding hybrid work, impactful careers and a focus on diversity and inclusion as well as mental health. The old top-down management styles of micromanagement, demanding five days in the office and expecting employees to keep a stiff upper lip are gone. Gen Z wants to be heard, and they expect companies to take a stance on the social and environmental causes that they care about.

   Startups cannot rest on their laurels. They have to put in the work to ensure their workplaces are attractive to the next generation of leaders, providing transparency, work-life balance and having an openness to change.

Who early stage startups are up against