Workforce 2024: What Are Employees Looking For?
Neil Reichenberg is the former executive director of the International Public Management Association for Human Resources (IPMA-HR). He worked for IPMA-HR, for almost four decades until his retirement in June 2020. He is an adjunct instructor at George Mason University teaching a graduate public human resource management class, writes a twice monthly public policy/legal column for the Human Resource Certification Institute, and speaks on human resource issues.
Korn Ferry has released Workforce 2024 a global survey designed to answer the question: what do people want from work? The survey examined top priorities when choosing a new job, factors that keep them in their current job, what would make them want to leave a job, and how organizations can motivate workers. The survey found that the top three drivers for people in 2024 are compensation, flexible working hours, and high job security. The report is based on a survey of 10,000 professionals at different stages of their career in six areas: United States, United Kingdom, Brazil, Middle East, Australia, and India.
The table below summarizes the top five factors for those seeking a job, those who have decided to stay with their current employer and those who want to leave. Compensation, flexible working hours, and job security are key factors for all three groups.
| Seeking Job | Staying in Current Job | Leaving Current Job |
| Flexible Working Hours | Compensation | Low Compensation |
| Compensation | Flexible Working Hours | Lack of Career Development |
| High Level of Job Security | High Level of Job Security | Lack of Job Security |
| Learning & Development Opportunities | Coworkers they Like | Inflexible Working Hours |
| Hybrid Work Options | Great Manager | Poor Culture |
Flexibility
Flexible working hours were the top priority for those seeking a new job. Other key factors cited were compensation, high level of job security, learning and development opportunities, and hybrid work options. Flexibility is so important that 60% said they would stay in a job they hate if they had flexible working hours. In the United States, one-third of respondents said flexible working hours was their top priority when choosing a new job. Women rate it as a higher priority than men.
The ability to work from anywhere remains high on the agenda for many professionals. In 2024, more professionals want to work away from the office than want to work in the office. Employers who enforce return to office mandates are likely to see their top talent looking to exit with 75% of survey respondents indicating that the ability to work flexibly and from wherever they want is critical. Similarly, a Great Place to Work 2023 survey found that employees who are allowed to choose whether they work remotely, hybrid or in-person are three times more likely to want to stay with their employer.
In 2024, more professionals want to work away from the office than want to work in the office.
NEIL REICHENBERG
Compensation
Pay and benefits are the leading reason people will remain with their employer or leave. There were 54% of survey respondents who stated that their employer provides compensation that matches the contribution that they make. Thirty-eight percent believe their compensation is below their contribution and these are the people most likely to be seeking other employment opportunities. Eighty-one percent of survey respondents agreed that it’s crucial for employers to understand the importance of the benefits that are provided to employees. While benefits are important to the youngest employees, they place a lower value on them than other workers. Colleagues they enjoy working with, working for a manager they respect and trust, and being given excellent learning and development opportunities also were cited as key factors in the stay or leave decision.
Upskilling and Reskilling
The survey found that organizations were concerned that their employees lack the necessary skills to adapt to AI and other technological changes and that employees were worried that AI may result in the loss of their jobs. Survey respondents expressed strong interest in learning new skills with 67% saying they would stay in a job they hated if it gave them opportunities to progress and learn new skills. There is an age divide concerning new technologies with 65% of those under 55 were excited about emerging technologies like AI, but this declines to 39% of those over 55 who were enthusiastic about AI. Seventy percent of people who fear AI will replace their job are considering or actively looking for a new job. To address this, the report authors recommend that “If you want to retain the best people in your organization, then you need to communicate with them about how AI might affect their job. Then provide them with the tools and time to upskill or reskill to learn how to use it or move into another role…”
Culture
Company culture contributes to whether employees will stay or leave an employer. Seventy-three percent of respondents said connection with their colleagues was one of the most crucial elements of their job. Reporting to a good manager, feeling supported in their efforts to learn and grow and believing that organizational leaders prioritize their well-being were all important factors that contribute to establishing a positive culture. A toxic culture was cited as the fifth most likely reason employees would quit. Korn Ferry also looked at motivation, finding that globally 71% of employees were motivated. In the US, this increased to 75%.
State and local governments have complex missions and need to be able to recruit and retain top talent. Factors that ranked highly among those who were surveyed were flexibility, competitive pay, positive company culture, and upskilling opportunities. State and local governments should consider Korn Ferry’s recommendation to “look at your organization’s talent strategy on those top issues.”
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