While the concept of flexible working used to be considered quite niche, the Covid-19 pandemic saw it really take off. For many, flexible working quickly became the new normal, and its popularity has continued to grow ever since.
Flexible working is set to dominate even more next year, but experts predict that it will undergo a few changes. Join Circle Hub as we take a look at some of the biggest flexible work trend predictions for 2024!
Hybrid Working Arrangements
Due to the need to stay isolated during the pandemic, working from home became the norm. After two years of doing this, research showed that 81% of employees had no desire to return to the office.
However, trend predictions show that this has changed once again. While working from home offers some undeniable benefits, people have been missing the structure and in-person connections that a workplace provides. They enjoy the freedom and flexibility of working from home but can’t ignore the sense of isolation that this can bring.
This is why more and more companies are now introducing hybrid working arrangements. These offer the best of both worlds. People are able to spend some days in the office and others at home, and they’re usually able to choose which days they do which.
Those who are still fully remote working have been implementing the hybrid work concept for themselves by signing up to coworking spaces, like Circle Hub. This gives them the option of spending a few hours in an office environment without having to fork out the huge cost of leasing an office space of their own.
Coworking Spaces Grow in Popularity
The demand for coworking spaces has been steadily rising over the years. Trend predictions show that they’ll continue to do so in 2024 and, as a result, more and more coworking spaces will become available all over the world.
Why the increase in interest? For a number of reasons. Firstly, coworking plays perfectly into the hybrid working arrangements that more and more people are adopting. As mentioned above, they’re a cost-effective way for remote workers to experience a motivating and social environment while still having the flexibility to come and go as they please. The fact that statistics show that working at a coworking space boosts productivity too is just the icing on the cake!
Coworking spaces also give small businesses and individuals a more professional image. Meetings can be hosted in an actual meeting room or a private office rather than a coffee shop or another public space, which is a much better look when attending video meetings too.
Coworking spaces are also super convenient. Their rapid growth makes it easy for just about anyone to find one nearby, meaning a short and stress-free commute. They offer the use of a number of office amenities as well, saving people from having to invest in this equipment themselves.
It’s not just freelancers and remote workers that are using coworking spaces now either. Many businesses, both small and large, are choosing to go this route instead of setting up an office space of their own. It offers the utmost in flexibility while also providing some game-changing financial savings!
Next-Level Workplace Amenities
One of the reasons why companies are happy to adapt to hybrid working arrangements is because of how it enables workers to establish a healthier work-life balance. Research shows that having this balance can significantly boost productivity. It also equates to employees taking less time off work. As you can imagine, both bring huge benefits to employers.
As a result, trend predictions show that companies have been looking into other ways in which they can help to improve the work-life balance of their employees. One of these is by offering next-level workplace amenities. By enhancing the overall employee experience in this way, employers see even better results from their workforce.
Some of these next-level amenities include on-site fitness centers and gaming rooms, both of which we offer at Circle Hub. Meditation rooms, nap pods, and garden areas have all also been shown to reduce employee stress and boost their well-being.
An Increase in Flexi-Time Working
Flexibility can be provided in many ways, with flexi-time working hours being one. Everyone has different needs and wants when it comes to their working hours. Some prefer to work longer days and shorter weeks while others need to take time off when their kids are off school. Everyone has their own circumstances that their working life needs to fit around. This is why trend predictions indicate that more and more employees will be choosing to offer a flexi-time working arrangement.
What exactly does this involve?
Employees are simply given a certain number of hours that they need to work each year. They can then create their own schedule to accommodate this. This gives them the flexibility to choose their own hours and workdays, as well as how long their breaks are. Some companies are putting a spin on this by providing a set number of hours per week, instead of per year. Either way, flexi-time is proving to be very popular!
The Four-Day Week
Slightly more rigid than flexi-time but still more flexible than traditional working models, the four-day week is gaining momentum. Roughly 20% of companies in the USA have adopted this model. Trend predictions show that even more are going to be jumping onto the four-day week bandwagon in 2024.
It’s clear how this benefits workers. After all, who wouldn’t want a three-day weekend? Naturally, this led to many companies feeling sceptic about how this concept would affect their bottom line.
However, early adopters of the model found that it offered more pros than cons. Not only were workers more productive and more than capable of getting 100% of their work done in 80% of the time, but it also reduced employee burnout and stress. Even better, with less commuting taking place, it benefits the environment too!
Unlimited Holiday Leave
For many, unlimited holiday leave seems like a dream come true. However, for a growing number of employees, this is now a reality. Trend predictions show that one way in which employers are going to offer flexibility to their employees is by giving them the opportunity to take as much time off as they want.
This has already been trialed to an extent. However, as you can imagine, many workers took full advantage of their paid leave by spending more time away from work than at work. It worked well for them but was extremely detrimental to their employers.
This is why the concept will be taking a little twist in 2024. Rather than offering unlimited paid leave, many companies will be trialing the idea with unpaid leave. This way, there’s more incentive for employees to actually go to work. However, at the same time, it gives them the flexibility to take off the time that they need with no questions asked.
Sustainable Working Practices
Sustainability has been a dominant trend across a wide range of industries. So, it’s hardly surprising that trend predictions show that sustainability is going to gather momentum when it comes to the workplace too.
Whether people are working from a coworking space or a traditional office, they favor companies that encompass sustainability. A few measures that companies can take include waste reduction, adopting renewable energy, and using sustainable materials.
If a company is able to show that they’re able to implement measures and initiatives that help the planet in some way, then not only will this attract quality employees, but it will also help them to increase their customer base.
A Multigenerational Workforce
Peak 65 is a phenomenon that will be occurring in 2024. This is when more Americans will be turning 65 than at any other year in history. Sadly, due to the decline in both public and private retirement systems, many people in this age group are concerned about not having the funds to maintain their standard of living throughout their later years.
As a result, more and more retirees are returning to the workplace. They’re not interested in full-time roles but part-time, flexible working jobs are exactly what they seek. With decades of experience behind them, they meet the needs of many employers. This will soon create a truly multigenerational workforce.
Global Expansion
Although remote work has been around for a while, many companies still favored working with people based in the same country as them. However, trend predictions show that this is something else that is set to change in 2024…
More and more businesses will be prioritizing global expansion. This essentially equates to a borderless workplace. Making international connections not only opens up potential new markets but also underscores a company’s focus on inclusivity and diversity. Plus, they’ll be able to work with an international talent pool, enabling them to always find the perfect person for the job at hand.
This trend is great news for freelancers too. With more and more businesses prepared to make international connections, attracting international clients will become much easier.
Global Mobility Opportunities
Almost an offshoot of the global expansion trend, global mobility gives remote workers the opportunity to work from just about anywhere in the world.
It’s a movement that was birthed by the UAE’s revolutionary digital nomad visa. It enabled remote workers to live in the UAE while they worked remotely for a company in another country. Since then, at least 43 other countries have introduced similar visas. Trend predictions show that this figure is set to continue rising.
This is another trend that’s a win-win for everyone. The host countries are enriched by new professional skills while workers are able to immerse themselves in another culture and learn a new way of life.
Summary
Sometimes, trend predictions spell bad news for either businesses or employees, or both. However, the trend predictions for 2024 benefit both sides. From the focus on employee wellness to the rise in coworking spaces to the increase in global connectivity, 2024 will certainly be a fascinating year for the industry.
Click here to find out more about the coworking spaces and services offered by Circle Hub.