As part of our ongoing commitment to delivering the latest global employment insights, we recently launched our 2024 World at Work report, which offers an in-depth analysis of the top trends impacting companies of all sizes. With this information, you can equip your business to compete in the global business landscape and deliver on what both employers and employees are looking for in the new world of work.
From new business challenges to talent and tech innovations, and the rise of AI at work, our report draws insights from 2,000 executives and 4,000 professionals to give you an exclusive glimpse into the current state of global employment. Let’s take a look at five game-changing trends featured in the report.
1. Establishing a global footprint is essential.
Some of the most staggering statistics in the report highlight the importance of having a global presence. For some, establishing a global footprint can mean hiring from international talent pools, but it can also mean moving into new markets, scaling operations, exploring acquisitions, or leveraging new tech to improve the pace of business.
This global mindset is reflected in today’s employees’ growing desire to work for global companies, and in executives’ plans to expand their business. In fact, 80% of employees want to work for a global company.
See why nearly all executives agree establishing a market presence in multiple countries is essential to remaining competitive in the report.
80% of employees want to work for a global company.
World at Work report
2. The struggle to find talent continues.
One of the biggest obstacles executives mentioned in our survey was local talent shortages, with 46% of executives finding it very or extremely difficult to find skilled talent in their existing markets.
46% of executives find it very or extremely difficult to find skilled talent in their existing markets.
World at Work report
This isn’t a new development, but this year’s report emphasized that it continues to be a challenge for businesses of all sizes. However, many companies are bridging these skills gaps by looking for talent globally.
Learn how companies are finding the talent they need to fill high-skill roles in our report.
3. The Gen Global era of work has arrived.
The report also describes a new generation that has emerged in the context of global business: “Gen Global.” These individuals want diverse experiences, workplace flexibility, and the independence associated with global companies.
While “Gen Global” isn’t tied to a certain age group, younger employees do tend to value global companies more than their older counterparts. Our survey found that 85% of employees believe companies that hire from multiple countries offer more opportunities to grow their career.
Get insights on how each age group sees global companies in the report.
85% of employees believe companies that hire from multiple countries offer more opportunities to grow their career.
World at Work report
4. AI will have far-reaching uses for both employers and employees.
AI is transforming how the world works. More and more executives are leveraging new tech solutions to streamline or automate business processes. Our report showed that 92% of employees are also excited about potential uses for AI, anticipating AI to improve their day-to-day work lives. From driving innovation to enhancing productivity, everyone will benefit from AI advancements.
Learn the ways AI will transform the world of global employment here.
92% of employees are excited about potential uses for AI.
World at Work report
5. Companies are turning to EORs to make global employment easier.
The preferred solution to hire in new markets and tackle global employment challenges is partnering with an Employer of Record (EOR). Use cases include expanding into new markets, hiring global talent, simplifying M&A transactions, supporting entity rationalization, engaging and paying contractors, ensuring worker classification. The report found that EORs offer a quick and easy global employment solution, but awareness and education are still needed.
This is clear from findings that show only 26% of employees have a good understanding of what an EOR is and how it can help them secure roles at companies headquartered in other countries.
See how an Employer of Record can help your business embrace the future of work here.
Only 26% of employees have a good understanding of what an EOR is.
World at Work report
Now is the best time to go global.
Leveraging global talent and hiring with speed and flexibility provides businesses with a unique advantage in today’s competitive market.
Our industry-leading suite of global employment products makes it easy to build and manage global teams and thrive as the world of work continues to evolve. If you are ready to hire who you want, wherever you want — without setting up new entities — contact us today.
For more insights into the current state of global employment, download the full World at Work report.
