3 big trends shaking up 2024

It’s a rare day when we aren’t asked “what are you seeing in the market right now?” As we hit April (and sit almost over quarter of the way through the year), we are seeing some key trends stand out. Here are three that are shaping the workplace landscape right now.

What you measure gets managed

This month, we’ve seen diversity, equality and inclusion (DEI) conversations bubble to the surface knowing that every Australian employer with 100 or more employees was required to publicly report on their gender pay gaps from February 27th 2024 on the Workplace Gender Equality Agency (WGEA) website here.

The data showed Australia’s median pay gap is 19% with only 30% of employers meeting the target range of -5% and +5%. This initiative is expected to go a long way in ensuring that more women are paid equal remuneration for equal work and rejecting the notion that it’s a ‘choice’ by women to take on lower-paid work.

There is well-documented evidence of the commercial and cultural value of DEI in the workplace, but for some organisations, DEI initiatives are seen as a nice-to-have versus a must-have. There was never a better time than NOW to double down on your diversity action plan and strategise for the future. If you need a partner to help ensure your diverse talent pipeline or advise on salaries, get in touch – we’re here to help!

Remote work on the decline

There’s been a noticeable shift towards in-person collaboration. Big brands like Boeing and IBM are re-implementing 5-day office mandates as hiring managers seek locally-based talent and promote the benefits of ‘office osmosis’.

But they’re not alone. Candidates’ attitudes towards remote work are also shifting with many enjoying a more flexible, hybrid way of working rather than working remotely. A fully in-office role though is a deal breaker for 95% of people when considering their next move. We’ll see how this pans out for the companies promoting in-office mandates as other companies like Atlassian stick with their work-anywhere policy.

AI as a tool, not a replacement

The buzz around artificial intelligence remains strong with new AI products released weekly. But what’s most interesting is how people are using these products. That is, we’re finding people a lot more focused and strategic in how they use AI.

For example – companies are quickly realising that AI cannot quite replace human creativity, particularly when it comes to the written word. For some development teams, full applications are being written using ChatGPT; however, there is no doubt that a ‘brain trust’ is required to review the output and ensure its relevance for intended purposes.

In recruitment, we’ve also seen AI technology automate several functions to assist recruiters. The big question: will AI replace recruiters? We asked ChatGPT of course!

So there you have it! Personally, we’re a fan of AI as recruiters and tech-heads especially when it comes to using AI for simple yet time-consuming tasks that don’t require much nuance.

But where AI falls short is its inability to evaluate a candidate’s soft skills, understand the context of specific situations or career paths, avoid algorithm bias and create a personalised candidate experience. This is something to keep in mind when using AI-infused recruitment software. When it comes to building meaningful relationships, savvy decision-making and true creativity, human-to-human interactions are unmatched. And at Hunt & Co., life-changing human connections are what we are all about!

If you think it’s time for a chat about the market, your organisation’s diversity hiring plans or perhaps your next role, you’ve come to the right place. Click here or send us an email at hi@huntandco.io today!

Industry & Career Insights