How do you plan to enhance your company culture in 2024? Many companies are looking to foster a culture that aids in employee well-being and fosters inclusion and diversity. They also pay particular attention to flexible work arrangements, like remote and hybrid schedules. Let’s take a look at the top 2024 company culture trends.
Employee Well-Being
Employee well-being is going to become more important in 2024, and it’s going to include more than just your employees’ physical health. For decades, employers have been offering health insurance and sick time, which tends to cover the treatment of physical ailments and time off to heal.
In 2024, there will be more of a push for mental health and holistic services so that employees can improve their overall well-being. This is because employees are beginning to value their total body health just as much as their physical health.
To help them achieve this goal, it’s a good idea to offer health insurance that covers mental health counseling, support groups, and medications to treat any health issues, as well as alternative therapies, like chiropractic care, acupuncture, cupping, reflexology, yoga, and tai chi. By offering these benefits, you’ll show your employees that you value their physical, emotional, and spiritual health.
Diversity and Inclusion
The workplace landscape is changing. Employees are increasingly older and from different cultural backgrounds. This change is due to increased immigration and an aging workforce.
For example, did you know that 6.8 percent of women and 11.8 percent of men who are 75 years or older are still in the workforce, while 31.5 percent of men and 22.4 percent of women aged 65 to 74 are still in the workforce? By contrast, in 1979, only 3 percent of the workforce was 65 or older.
When it comes to race demographics, 55.2 percent of employees are white, 17.8 percent are black or African American, 12.2 percent are Asian, 6.5 percent are Hispanic or Latino, 2.8 percent are multiracial, and .2 percent are Native American, according to the Washington Post. In 1979, the percentage of non-white workers was 11.7 percent. Today, it’s closer to 22 percent.
To help employees feel included, companies must recognize diversity and strive to include broader ideas and management styles. They should also listen to and evaluate every idea and opinion.
Flexible Work Models
To spite businesses pushing to bring employees back to the office, many employees aren’t on board. From an employee perspective, returning to the office wastes time and money.
According to a report by CNBC, Workers who return to the office spend an average of $51 per day. If the employee has pets, they spend an additional $20 per day on top of the $51. In other words, returning to the office is like receiving a $6.38 per hour pay cut.
Because of this, many employees are looking for remote and hybrid positions. For those who work a hybrid schedule, it’s estimated that they spend an extra $408 per month compared to their fully remote counterparts.
When attracting and retaining employees and building a positive workplace culture, you’ll want to consider offering remote and hybrid schedules. If your employees must come to the office or a physical location, consider offering commuting stipends and free breakfasts, lunches, and dinners.
Enhanced Internal Communication
When building a positive, productive, and healthy company culture in 2024, it’s essential to provide clear and frequent internal communication. If you’re changing a policy, implementing or shutting down a service or product line, or changing a workflow, let your employees know well beforehand.
If possible, inform your employees that you are thinking about the change and ask for input. Employees are more willing to accept change if they feel their voice has been heard. This also helps remove the possibility of your employees being surprised by a change.
Collaborative Management Styles
They say that employees don’t quit jobs; they quit managers, and it’s still true in 2024. Take the time to educate your management teams on collaborative management, which can foster team development, growth, and productivity.
These management styles focus less on giving ultimatums and direct orders and more on asking questions and delegating tasks to those who are best qualified or most willing to do them. Managers who use a collaborative style also take the time to listen to employees’ concerns, ideas, and questions without judgment. By listening and asking instead of demanding, you can foster a company culture where employees feel empowered to express their ideas, ask questions, and suggest alternatives.
Staying Ahead of the 2024 Company Culture Trends with Help from ASAP Payroll
If you want to stay ahead of the curve in 2024 and develop an inclusive, positive workplace culture that fosters employee development and success while increasing your company’s productivity, ASAP Payroll can help. We offer tailored solutions and expert insights to help you take your workforce to the next level.
To learn more about our payroll and benefits services and to get a quote, contact us at 317-887-2727 or visit our website asappayroll.com
