6 Workplace Culture Trends for 2024 Every Company Should Watch

TED KITTERMAN

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DAPHNE LEE

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TED KITTERMAN AND DAPHNE LEE

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By now, you might have heard of phrases such as “chaotic working” or “rage applying”. Both terms refer to workplace trends forecasted to dominate in workplaces this year. In fact, a December 2023 survey of 1,211 Singapore workers conducted by Indeed, a hiring platform, indicated that a substantial number of respondents engaged in work that is unstructured, unpredictable and lacking in defined procedures.

Compare this with rage applying which refers to the act of applying to as many jobs as possible as a reaction to building frustration experienced in the workplace. The picture seems bleak, with other factors pointing to similar trends such as quiet quitting and moonlighting. 

It was also reported that employees who perceived themselves to be working in a job that has a negative workplace culture were four times more likely to leave their workplace compared with those who rated their organisation’s workplace culture as extremely positive.

Here’s how we can truly address some of the underlying factors that can impact and influence these workplace trends locally and globally: by creating great workplaces where every employee can succeed.

For companies trying to build great workplace cultures, 2024 promises a complex challenge.

Artificial intelligence (AI) is upending the workplace, and employees are clamoring for training and tools to stay ahead of a rapidly changing business environment. Politics and global events threaten to divide us at the exact moment when companies need to come together to solve big problems. Environmental concerns are rising, and the efforts to remake the industries of the world will impact every company.

Chief diversity officers and diversity, equity, inclusion & belonging (DEI&B) leaders have seen their roles change and diminish in the face of recession fears. Mental health issues haven’t disappeared along with the daily pandemic headlines.

With each of these challenges, business leaders have an unmatched opportunity. New data from Boston Consulting Group shows more than a quarter of employees globally are ready to leave their current jobs.

The best way to keep your talent? Become a great workplace, where every employee has a consistently positive experience.

Great Place To Work® research shows that it’s the company, not the industry that determines how employees feel at work. It’s not the size of your company either. The key ingredient is employee trust, where leaders build deep relationships with employees in all job types and role levels, where workers are proud of the work they do, and feel a sense of belonging to the people they work with.

Here’s what that will require in 2024:

1. Make trust the most important asset for your business

Trust has never been more valuable, and the year ahead will only make trust harder to earn. The rise of artificial intelligence, a raucous presidential election cycle, and ongoing transformation of digital information systems will force consumers to ask more questions.

“We’re entering an era where trust will mean 10 times what it meant in 2023,” says Michael C. Bush, CEO of Great Place To Work. Companies will have to prove they are doing things to make the planet better, that they are adopting and launching new technology in a responsible and ethical manner, and that they can be trusted to wield their growing influence transparently and ethically.

Not only will trust matter in the current moment, but people will question if they can trust companies for the coming decade as new technology drives a radical transformation of life. “It’s going to be a commitment,” Bush says.

To understand what companies they trust, Bush believes consumers will look to the employees of the company. “You can trust a company in terms of how they’re using artificial intelligence when you know their employees trust them,” he says.

2. Find more ways to support and improve mental health for every employee

According to a 2023 market survey of more than 4,400 U.S employees by Great Place To Work, mental health hasn’t improved for employees at typical U.S. workplaces.

However, Great Place To Work Certified™ workplaces outperform this benchmark, with 83% of employees reporting psychological and emotionally health work environments. Only 55% of employees said the same at typical U.S. workplaces.

The biggest differences between great workplaces and the U.S. average? Fairness.

“We’re entering an era where trust will mean 10 times what it meant in 2023.” – Michael C. Bush, CEO of Great Place To Work

Employees at great workplaces were more likely to report receiving a fair share of company profits, a fair shot at a promotion, and fair treatment from their manager. Companies that want to improve mental health for all employees will have to investigate the structural causes of burnout and fatigue across the organization and turn employee feedback into clearly communicated action.

3. Make space for tumultuous global events

Great workplaces will have to make space for the world events that impact their people, and create programming in partnership with their people to address acute needs. Tony Bond, chief diversity and innovation officer at Great Place To Work, makes a strong case for robust employee listening programs.

“You have to survey employees, but you also have to find a systematic, measurable way to surface the voice of the people — to continuously take their pulse,” he says. “The last thing you want to do is create a large program when people aren’t in a place to participate.”

4. Increase your focus on retention, upskilling, and talent development

As finding talent with the right skills becomes more difficult, employers will have to invest more developing the talent they need internally. Even when companies are reducing headcount, they need skilled workers to continue operating the business.

A focus on recruitment shifts to a focus on developing and reskilling the workers you already have.

While the macroeconomic picture in the U.S. appears to be avoiding the recession that was prophesized in early 2023, business leaders will remain cautious. Yet, a skills gap remains a top concern, with 26% of CEOs ranking a talent shortage as the top “damaging factor” to their business outlook, per Gartner.

This might be the year to launch your internal talent marketplace, or revolutionize your learning and development tools with AI and new technology.

5. Make sure all DEI&B programs are aligned with business goals

Despite some prominent business leaders rallying against diversity, equity, inclusion & belonging initiatives, data shows that those voices are outliers.

According to The Conference Board, three-quarters (75.8%) of S&P 500 companies incorporate ESG performance into CEO compensation. Nine in 10 of the S&P 500 use at least one metric related to human capital management to calculate executive compensation.

How does this data square with the decline of DEI leadership roles at companies across the U.S.? In short, DEI&B programs that aren’t connected to clear business outcomes and revenue are disappearing.

6. Double down on developing the best leaders in the world for your company

Workplace culture starts with leadership, and the best workplaces are committing large resources to developing their people to lead with empathy and courage.

“You can trust a company in terms of how they’re using artificial intelligence when you know their employees trust them.”  – Michael C. Bush, CEO of Great Place To Work

As the business landscape has changed, what it means to be a leader has also changed.

Employees expectations of their leader have shifted: Inspiring visionaries are giving way to coaches and mentors who can both lead the way and empower their people to lead in their own right.

The nine high-trust leadership behaviors will play an enormous role in differentiating the companies that can build trust in the age of AI, global disruption, and business transformation, and those that will fall behind.

Get more insights

Ready to learn more about your employee experience? Benchmark your organization using Certification™ and see how you stack against the very best.

DAPHNE LEE

Daphne believes in building community-relatable content, telling stories through narratives that add value in today’s workplace and in culture-building. Her idea of a great workplace is one that thrives on openness, support and inclusivity while building trust and working towards a common business growth and purpose. A journalist, she spent 15 years writing for trade publications, lifestyle magazines and broadsheet supplements.

TED KITTERMAN

Ted Kitterman is a content manager for Great Place To Work®. Ted has experience covering the workplace, business communications, public relations, internal communications, work culture, employee well-being, brand purpose and more. His work shines a light on the unparalleled data and insights offered by Great Place to Work’s decades of research, helping the company share its vision of a great place to work For All™.

Great Place To Work identifies Best Workplaces in Asia™ by surveying 2.1 million employees in Asia and the Middle East about the key factors that create great workplaces for all and analyzing company workplace programs impacting 5.9 million employees in the region.

To be considered, companies must first be identified as outstanding in their local region by appearing on one or more of our Best Workplaces lists in Bahrain, Greater China (including China, Hong Kong and Taiwan), India, Indonesia, Japan, Kuwait, Oman, Philippines, Qatar, Saudi Arabia, Singapore, South Korea, Sri Lanka, UAE, Vietnam during 2022 or early 2023.

Companies rank in three size categories: Small and Medium (10-499 employees); Large (500+); and Multinational. Multinational organizations are also assessed on their efforts to create great workplaces across multiple countries in the region. They must appear on at least two national lists in Asia and the Middle East and have at least 1,000 employees worldwide with at least 40% (or 5,000+) of those employees located outside the headquarters country.

Great Place To Work identifies Best Workplaces in Asia™ by surveying over 1 million employees in Asia and the Middle East about the key factors that create great workplaces for all and analyzing company workplace programs impacting over 4.7 million employees in the region.

To be considered, companies must first be identified as outstanding in their local region by appearing on one or more of our Best Workplaces lists in Greater China (including China, Hong Kong and Taiwan), India, Indonesia, Japan, Kuwait, Philippines, Qatar, Saudi Arabia, Singapore, South Korea, Sri Lanka, UAE, Vietnam during 2021 or early 2022.

Companies rank in three size categories: Small and Medium (10-499 employees); Large (500+); and Multinational. Multinational organizations are also assessed on their efforts to create great workplaces across multiple countries in the region. They must appear on at least two national lists in Asia and the Middle East and have at least 1,000 employees worldwide with at least 40% (or 5,000) of those employees located outside the headquarters country.

Great Place To Work® Best Workplaces™ in Singapore 2023 Evaluation Methodology

This year, Great Place To Work® Singapore is proud to launch our inaugural Singapore Best Workplaces™ in Healthcare & Biopharma List. This list recognizes exemplary companies in the healthcare & biopharma industry.

Recognized as a global hub for medical technology and research, Singapore has attracted top healthcare and biopharma talents and companies from around the world. It has become the center for essential healthcare services and innovations with its world-class research institutes, academic medical centers, and industry clusters.

In turn, the healthcare and biopharma sectors play a critical role in the country’s economic competitiveness, sustainability, and innovation. These industries have significantly helped in the overall improvement of public health and well-being of the people of Singapore and its neighboring countries.

The inaugural Singapore Best Workplaces in Healthcare and Biopharma List puts the spotlight on the organizations that are dedicated to providing employee satisfaction and engagement, and their commitment to excellence in the industry.

The companies in our Great Place To Work Certified™ community have the premier distinction that helps attract the best talent, build your employer brand, and secure a competitive advantage. To achieve this, they built a working environment that is purpose-driven and people-first. These companies have demonstrated that showing authentic care, prioritizing employee’s holistic well-being, and building a culture of trust go hand in hand with growth and success.

To determine the 2023 Singapore’s Best Workplaces in Healthcare and Biopharma, Great Place to Work®️ analyzed confidential survey feedback representing nearly 12,000 employees working in the tech industry in Singapore.Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place to Work For All™️. Eighty-five percent of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do. Great Place to Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical relative to their peers in the industry.The remaining 15 percent of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced.To be considered, companies had to meet the Great Place to Work-Certified standard. To ensure survey results truly represent all employees, Great Place to Work requires that Trust Index©️ survey results are accurate to a 95% confidence level with a 5% margin of error or better. We review any anomalies in survey responses, news and financial performance to ensure there aren’t any extraordinary reasons to believe we couldn’t trust a company’s survey results. Companies with 10 to 99 people were considered for the small and medium category; companies with 100 employees or more were considered for the large category.

Great Place To Work® Best Workplaces™ in Singapore 2023 Evaluation Methodology

To determine the 2023 Singapore’s Best Workplaces in Technology, Great Place To Work®️ analyzed confidential survey feedback representing nearly 12,000 employees working in the tech industry in Singapore. Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place To Work For All™️. Eighty-five percent of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do. Great Place To Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical relative to their peers in the industry. The remaining 15 percent of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced. To be considered, companies had to meet the Great Place To Work-Certified standard. To ensure survey results truly represent all employees, Great Place To Work requires that Trust Index©️ survey results are accurate to a 95% confidence level with a 5% margin of error or better. We review any anomalies in survey responses, news and financial performance to ensure there aren’t any extraordinary reasons to believe we couldn’t trust a company’s survey results. Companies with 10 to 99 people were considered for the small and medium category; companies with 100 employees or more were considered for the large category.

Methodology

This year, Great Place To Work™ Singapore is proud to launch our inaugural Singapore Best Workplaces in Technology List. This List recognizes exemplary companies in the information and communication technologies industry in four categories:

  • Micro category (10–29 employees)
  • Small (30-99 employees)
  • Medium (100-999 employees)
  • Large (> 1000 employees)

With Singapore’s ambition to be recognized as a regional technology hub, the influx of technology firms (around 80 of the world’s top 100 technology firms have a presence here) and global rankings that place us a leading technology hub outside of San Francisco, the establishment of a Singapore Best Workplaces List in Technology is indeed a timely and needed one. Technology firms in Singapore are characterized by hyper-growth and ambitious expansion plans. This means a continuous war for talent in a highly competitive and rapidly evolving industry.

To maintain our lead as a technology and innovation hub, the ability to attract, retain and sustain skilled talent is critical. We are proud that companies in our Great Place To Work®-Certified community List have built a high-trust culture, engaged employees and maximized their potential to facilitate innovation. They are purpose-driven and adopt a people-first mindset. These are companies that have shown that authentic care and employee well-being need not be compromised for ambitious growth, and that it is possible for businesses to scale up quickly and responsibly. Their culture and core values are embodied in every individual—from senior leadership to rank-and-file employees—and differentiate them from their competitors, priming them to be powerful magnets for top talent.

To determine the 2022 Singapore’s Best Workplaces in Technology, Great Place To Work®️ analyzed confidential survey feedback representing nearly 12,000 employees working in the tech industry in Singapore.Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place To Work For All™️. Eighty-five percent of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do. Great Place To Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical relative to their peers in the industry.The remaining 15 percent of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced. To be considered, companies had to meet the Great Place To Work-Certified standard. To ensure survey results truly represent all employees, Great Place To Work requires that Trust Index©️ survey results are accurate to a 95% confidence level with a 5% margin of error or better. We review any anomalies in survey responses, news and financial performance to ensure there aren’t any extraordinary reasons to believe we couldn’t trust a company’s survey results. Companies with 10 to 99 people were considered for the small and medium category; companies with 100 employees or more were considered for the large category

 

Methodology

To determine the 2022 Singapore’s Best Workplaces™️, Great Place To Work®️ analyzed confidential survey feedback representing close to 70,000 employees across different industries in Singapore. Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place to Work For All™️. 85% of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do.

Great Place To Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical in their industry. The remaining 15% of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced. To be considered, companies had to meet the Great Place To Work Certified standard. To ensure survey results truly represent all employees, Great Place To Work requires that Trust Index©️ survey results are accurate to a 95% confidence level with a 5% margin of error or better. We review any anomalies in survey responses, news and financial performance to ensure there aren’t any extraordinary reasons to believe we couldn’t trust a company’s survey results.

Companies with 10-29 people were considered for the Micro category; those with 30 to 99 people for the Small category; companies with 100 to 999 employees were considered for the Medium category; and those with 1,000 or more for the Large category.

Great Place To Work® Best Workplaces™ in Singapore 2023 Evaluation Methodology

To determine the 2023 Singapore’s Best Workplaces in Technology, Great Place To Work®️ analyzed confidential survey feedback representing nearly 12,000 employees working in the tech industry in Singapore. Employees responded to over 60 survey questions describing the extent to which their organization creates a Great Place To Work For All™️. Eighty-five percent of the evaluation is based on what employees say about their experiences of trust and reaching their full human potential as part of their organization, no matter who they are or what they do. Great Place To Work analyzes these experiences relative to each organization’s size, workforce make up, and what’s typical relative to their peers in the industry. The remaining 15 percent of the rank is based on an assessment of all employees’ daily experiences of innovation, the company’s values, and the effectiveness of their leaders, to ensure they’re consistently experienced. To be considered, companies had to meet the Great Place To Work-Certified standard. To ensure survey results truly represent all employees, Great Place To Work requires that Trust Index©️ survey results are accurate to a 95% confidence level with a 5% margin of error or better. We review any anomalies in survey responses, news and financial performance to ensure there aren’t any extraordinary reasons to believe we couldn’t trust a company’s survey results. Companies with 10 to 99 people were considered for the small and medium category; companies with 100 employees or more were considered for the large category