How the modern workplace will look like in 2024 

With 2024 knocking on the door, the global workplace is undergoing a significant transformation—a process that began with the aftermath of Covid-19 in 2021. Driven by technological advancements, changing employee expectations, and the aftermath of the pandemic, organisations worldwide are reevaluating their work models, management strategies, and priorities. 

This year is set to be a pivotal moment in defining how work is conducted, with a particular emphasis on flexibility, employee well-being, and the integration of AI technologies. In 2024, the workplace in Bangladesh is set to be influenced by global trends and local dynamics, primarily driven by advancements in technology, evolving work models, and shifting employee priorities. 

Here's an in-depth look at the key trends and culture shifts expected in the coming year.

Embracing remote and hybrid work models

The global shift toward remote and hybrid work models, catalysed by the pandemic, has firmly established these approaches as the new norm. In 2023, according to a US-based data source, about 60% of remote-capable employees worked fully on-site, a significant drop from 2019 figures. However, around half of employees still work fully on-site in roles that can't be remote or hybrid​​.

In Bangladesh too, many organisations have adopted the hybrid model and it is likely to get a little more popularised by the end of 2024. Going into 2024, local organisations need to balance driving productivity with practicality, focusing on employee well-being and mental health, and creating social connections​​.

The rise of AI and its impact

AI, including generative AI applications like ChatGPT, is expected to be more frequently employed in workplaces by 2024. About 50% of companies globally are already using generative AI, and this trend is likely to grow as organisations become more comfortable leveraging this technology​​. 

AI's role in the workplace extends from handling time-consuming tasks to aiding in decision-making and innovating solutions​​. Training in generative AI is even seen as a retention perk, showing employees how to use it to reduce work stress.

Management and leadership evolution

Leadership skills are undergoing a significant transformation. Effective leaders in 2024 need to focus on building trust, deepening employee engagement, and moving away from a command-and-control approach. The emphasis is on motivation, inspiration, and connecting employees to meaningful impact​​.

Employee well-being over productivity

There's a growing trend towards prioritising employee well-being, especially mental health. Holistic well-being approaches are being integrated into workplace cultures, moving beyond individual-level interventions. Companies are acknowledging the importance of creating a supportive work environment that fosters both personal and professional growth​​.

Gig economy expansion

The gig economy, characterised by independent, temporary, or contract work arrangements, is expected to grow in 2024. This trend is driven by the preference for flexibility in work schedules and the emergence of platforms catering to this market​​.

Generational shifts in leadership

As Baby Boomers retire, leadership roles are increasingly filled by younger generations, including Gen X, Millennials, and Gen Z. This generational shift brings different preferences and work styles. Understanding and engaging with younger workforce needs, particularly those of Gen Z, will be crucial for organisations​​.

Bangladesh's dynamic market growth

Bangladesh is emerging as a fast-growing market with a large domestic consumer base, a rapidly expanding middle and affluent class, and a high digital adoption rate. The country is home to over 2,500 startups, focusing on various sectors like fintech, e-commerce, and logistics. Traditional companies also play a significant role in the economy​​​​.

Economic resilience and digital transformation

Bangladesh's economy has shown resilience to global shocks, with a higher-than-average annual GDP growth. The digital economy is rapidly expanding, with a significant increase in mobile subscriptions and internet coverage. This digital transformation is expected to further fuel consumer spending and financial inclusivity​​.

2024 represents a critical juncture in the evolution of workplace cultures globally. In Bangladesh, the convergence of global influences and local dynamism will reshape how businesses operate and employees engage with their work. 

According to Ayesha Tahura, HR lead at a local multinational corporation, the work culture in Bangladesh will experience a cautious shift in the coming year. "In Bangladesh, the 2024 workplace is set to reflect a pragmatic blend of technological advancement and traditional values. As global trends lean towards remote work and digital integration, Bangladesh's corporate sector is adapting, albeit at a measured pace," she says.

"Key areas to watch are the growth of tech-based industries and the gradual shift to more flexible work arrangements. However, this transition is balanced by a strong adherence to local business customs and community-centric values. The challenge for Bangladeshi companies will be to harness global innovations while maintaining the cultural ethos that defines their workforce," adds Tahura.