4 Workplace Culture Trends for 2024 Every ANZ Company Should Watch

GPTW ANZ

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GPTW ANZ

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As February kicks off, here are the four emerging trends for workplace cultures.

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

Artificial intelligence (AI) is upending the workplace, and employees are clamouring for training and tools to stay ahead of a rapidly changing business environment. Environmental concerns are rising, and the efforts to remake the industries of the world will impact every company.

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 retain talent is to 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, cost of living, and the ongoing transformation of digital information systems will force consumers to ask more questions.

According to UKG, 54% of employees have no idea how their company is using AI. It’s those companies that keep their people informed and maintain a high trust culture that will thrive amidst the rise of these technologies

“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 survey, 20% of Australian employees believe their employer doesn’t care about their wellbeing, while 20% of New Zealanders reported always being stressed at work.

However, Great Place To Work Certified™ workplaces outperform typical Australian and New Zealand businesses, with 83% of employees reporting psychologically and emotionally healthy work environments.

“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

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

As finding talent with the right skills becomes more difficult, employers must invest more in developing the talent they need internally. Even when companies reduce 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.

The skills gap and skills shortages remain a top concern for many Australian and New Zealand industries. 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 partnership with underserved communities, or revolutionize your learning and development tools with AI and new technology.

4. Double down on developing the best leaders for your company

Workplace culture starts with leadership, and the best workplaces are committing 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 power of leadership will play an enormous roll in differentiating companies that can build trust and navigate uncertainty in the age of AI, global disruption, business transformation, and those that fall behind.

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Navigate workplace trends in 2024: Trust in AI, prioritize mental health, upskill talent, and foster effective leadership. Stay ahead in the evolving ANZ business landscape.

Discover strategies for ANZ companies to navigate the evolving landscape. Uncover insights and actionable steps for success in the dynamic business environment.

GPTW ANZ

Great Place To Work® is the global authority on workplace culture. Our mission is to help every place become a great place to work for all. We give leaders and organizations the recognition and tools to create a consistently and overwhelmingly positive employee experience, fostering cultures that are proven to drive business, improve lives, and better society. Our recognition is the most coveted and respected in the world for elevating employer brands to attract the right people. Our proprietary methodology and platform enables organizations to truly capture, analyze, and understand the experience of all employees. Our groundbreaking research empowers organizations to build cultures that retain talent and unlock the potential of every employee. Our coaches, content, and community connect the boldest leaders, ideas, and innovations in employee experience. Since 1992, our Certification™, Best Workplaces™ Lists, and global benchmarks have become the industry standard, built on data from more than 100 million employees in 150 countries around the world.

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Great Place To Work® Best Workplaces™ in Australia 2024 Evaluation Methodology

Great Place To Work determines the list using our proprietary For All methodology. To determine the Best Workplaces in Technology list, Great Place To Work analyses the survey responses of tens of thousands of employees from Great Place To Work Certified™ companies in the technology industry.

Our survey enables employees to share confidential quantitative and qualitative feedback about their organization’s culture by responding to 60 statements on a 5-point scale and answering two open-ended questions. Collectively, these statements describe a great employee experience, defined by high levels of trust, respect, credibility, fairness, pride, and camaraderie. In addition, companies provide organizational data like size, location, industry, demographics, roles, and levels. Great Place To Work measures the differences in survey responses across demographic groups and roles within each organization to assess both the quality and consistency of the employee experience.

Statements are weighted according to their relevance in describing the most important aspects of an equitable workplace. Survey data analysis and company-provided datapoints are then factored into a combined score to compare and rank the companies that create the most consistently positive experience for all employees in this industry.

To be considered for the list, companies must be Great Place To Work Certified™ and nominate as a company in the technology industry.

We require statistically significant survey results, review anomalies in responses, news, and financial performance, and investigate any employee reports of company incompliance with strict surveying rules to validate the integrity of the results and findings. 

Categories

These organisations’ assessment is based 100% on employee responses to the Trust Index survey.

  • Micro 10-29 Employees
  • Small 30-99 Employees
  • Medium 100-999 Employees
  • Large 1000+ Employees

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

Great Place To Work determines the list using our proprietary For All methodology. To determine the Best Workplaces in Technology list, Great Place To Work analyses the survey responses of tens of thousands of employees from Great Place To Work Certified™ companies in the technology industry.

Our survey enables employees to share confidential quantitative and qualitative feedback about their organization’s culture by responding to 60 statements on a 5-point scale and answering two open-ended questions. Collectively, these statements describe a great employee experience, defined by high levels of trust, respect, credibility, fairness, pride, and camaraderie. In addition, companies provide organizational data like size, location, industry, demographics, roles, and levels. Great Place To Work measures the differences in survey responses across demographic groups and roles within each organization to assess both the quality and consistency of the employee experience.

Statements are weighted according to their relevance in describing the most important aspects of an equitable workplace. Survey data analysis and company-provided datapoints are then factored into a combined score to compare and rank the companies that create the most consistently positive experience for all employees in this industry.

To be considered for the list, companies must be Great Place To Work Certified™ and nominate as a company in the technology industry.

We require statistically significant survey results, review anomalies in responses, news, and financial performance, and investigate any employee reports of company incompliance with strict surveying rules to validate the integrity of the results and findings. 

Great Place To Work® Best Workplaces for Women™ List Methodology

The Best Workplaces for Women™list is determined using Great Place To Work’sFor All™methodology to evaluate hundreds of Certified™Great Place To Work®organisations across Australia.   

Data is based on over 40,000 employee survey responses from women in Great Place To Work® Certified™ organisations across Australia. 

The survey 

The survey enables employees to share confidential quantitative and qualitative feedback about their organisation’s culture by responding to 60 statements on a 5-point scale and answering two open-ended questions. 

Collectively, these statements describe a great employee experience, defined by high levels of trust, respect, credibility, fairness, pride, and camaraderie. In addition, companies provide organisational data like size, location, industry, and the number of women in the workforce and management positions. 

Considerations 

Great Place To Work analysed the gender balance of each workplace, how it compares to each company’s industry, and patterns in representation as women rise from front-line positions to executive/C-suite roles. 
Survey data analysis and women’s representation figures are then factored into a combined score to compare and rank the companies that create the most consistently positive experience and opportunities for all women, regardless of their role or demographic background.   

Eligibility   

To be considered for the list, companies must be Great Place To Work Certified™. Companies must also employ at least 50 women. We require statistically significant survey results, review anomalies in responses, and investigate any employee reports of company in compliance with strict surveying rules to validate the integrity of the results and findings. 

Please note this list is NOT ranked. 

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

Great Place To Work, the global authority on workplace culture, determined the Best Workplaces™ Australia 2023 List by conducting annual workforce studies through our Trust Index Survey™ and Culture Management platform Emprising®, representing the voices of almost 50,000 employees across Australia.

Employees responded to over 60 survey questions describing the extent to which their organisation creates a great place to work For All™, meaning that the company empowers all individuals to reach their full human potential. Eighty-five percent of the evaluation is based on what employees report about their experiences of trust and reaching their full human potential as part of their organisation, no matter who they are or what they do. We analyse these experiences relative to each organisation’s size, workforce make up, and what’s typical in their industry and region. The remainder of the evaluation is an assessment of all employees’ daily experiences of the company’s values, people’s ability to contribute new ideas, and the effectiveness of their leaders to ensure they’re consistently experienced.

To ensure surveys truly represent all employees, we require enough people in each organisation to respond that results are accurate to a 95% confidence level and 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.

 

Categories

These organisations’ assessment is based 100% on employee responses to the Trust Index survey.

For larger organisations with more than 100 employees, we also use our Culture Audit™ tool, asking organisations to share with us their practices, policies and programs to creating a great workplace For All™ and evaluating the approach they take.

Why do you say in one place your national list scoring is based on 85%/15% and in another place that it is 75%/25%?

We are explaining two different things:

1.  The criteria we evaluate

2.  Where the data comes from