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ADP Research Institute’s “People at Work 2024: A Global Workforce View”: Workers Recalibrated Expectations Amid the Great Transition

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Nearly 35,000 workers across the globe reveal their expectations around pay, skill development, and AI as the world of work enters a new era. 

ROSELAND, N.J., June 3, 2024 /PRNewswire/ — The post-pandemic era of work is being shaped by technological advances, economic forces, and shifting demographics. Building on survey responses from nearly 35,000 workers in 18 countries, the ADP Research Institute‘s fourth annual “People at Work 2024: A Global Workforce View” captures how worker expectations are changing. 

The great transition

This year will mark an important transition from a troubled, pandemic-driven economy to a new, post-pandemic world. In this new version of work, the pandemic imprint lingers, but technological advances, changing demographics and shifting workplace norms will drive seismic change.

Global inflation has reset worker expectations on pay, demographic shifts have crowded five generations into the workplace, and pioneering innovation in artificial intelligence has created uncertainty.

Employers seeking to navigate this labor market in transition will need a keen awareness of workforce sentiment. Companies that communicate clearly, calibrate worker expectations, nurture trust, and invest in skill development can stay ahead of what’s to come

“The pandemic left a permanent imprint on the world of work, forcing change big and small on long-standing practices. Now comes a new wave of challenges, with demographic shifts and new technologies reshaping work in real time,” ADP chief economist Nela Richardson said. “While global employment has stabilized, worker sentiment continues to shift in this fast-moving environment.”

People at Work 2024: A Global Workforce View

Among the takeaways from this year’s report:

Cost-of-l­iving increases influence expectations for pay: One of the challenges of highly inflationary time periods is the impact cost-of-living increases have on how people think about future price increases and their wage expectations. 

After a global bout of surging inflation, an elevated cost of living has reset worker expectations on pay. The data show workers in countries with a high rate of inflation have greater expectations for pay increases. But if the past is any measure, people may be disappointed as survey respondents in every country overestimated their pay gains last year.

“While global inflation has lessened considerably over the past three years, people still haven’t fully adjusted their pay expectations to reflect this decrease,” Richardson said. “For that reason, some workers might still expect higher pay than is warranted by current economic or business fundamentals.”

The biggest mismatch in pay expectations globally was found in Latin America. There was a 6 percent gap between worker pay expectations and pay increases in Brazil. In Chile, the gap was 5 percent.Seventy-seven percent of workers expect a pay increase in the next 12 months, 20 percent expect no change, and 3 percent anticipate a pay cut.Employers need to manage changing, and sometimes lofty, worker expectations. The report advises employers to adopt transparent communication and fully explain corporate initiatives and their impact on the issues workers care most about, including salary, worker flexibility, career progression, and training opportunities.

A multigenerational workforce: The world’s older workers are moving into retirement and soon will be replaced by a new generation. People born in the late 1980s and early 1990s are moving up the management ladder, and those born around the turn of the century are entering the job market. Employers will need to address the differing priorities of a workforce with wide-ranging ages. Balancing company initiatives to support multiple generations will be key to fostering a positive work environment.

As adults aged 25 to 34 settle into the workforce and begin to advance in their careers, they’re less likely than any other group to make day-to-day enjoyment of their jobs a top priority (26%).Workers 55 and older prioritize autonomy over their time more than their younger counterparts. 31% of workers 55 and older rank flexibility of hours among their top priorities, compared to 24% of workers aged 18 to 24.One of the biggest changes to the global workplace has been the widespread adoption of flexible work arrangements. Embracing this change, 17% of adults 18 to 24 value the freedom to choose where they work, compared to 13% of workers 55 and older.As workers age, they place more importance on salary. Most workers 45 to 54 rank salary as a top priority (62%). Pay is prioritized by 56% of workers aged 25 to 34, and only 44% of workers aged 18 to 24.

AI’s relationship to job skills: Workers are keeping a close eye on the skills they’ll need for the future, and their confidence in this regard is tied to their relationship with AI. For employers looking to integrate AI, building employee trust and investing in skills development will be crucial. AI training and building AI capabilities into workflows to drive efficiencies for employees will be top strategic priorities.

Almost half of workers surveyed agree that skill sets of the future will include technological abilities that aren’t imperative in their current job.Among workers who expect to be helped by AI, 70% are confident they have the skills they need to advance in the next three years. Workers who most fear AI have the least confidence (45%) that they have the skills they’ll need.Most workers (53%) lack confidence that their employer is investing in their skill development.Among workers who feel strongly about AI, more than half say their employer is investing in the skills training they need. As workers grow less confident in their employers’ willingness or ability to invest in them, their concern about AI impacting their jobs grows.

Stress is on a downward trend: Stress affects mental health, job performance, and employee satisfaction. With the pandemic in the rearview mirror, the percentage of employees facing daily stress continues to decline, but employers should continue to prioritize mitigating employee stress in the workplace.

The share of workers who say they experience stress every day has fallen from 19% in 2021 to 16% in 2022 to 15% in 2023.32% of employees said they feel moderate stress, or stress multiple times a week, down from 34% in 2022. 52% of employees feel low stress, or experience stress once a week or less, up from 50% in 2022.No country is immune from stress, however a large share of workers in North America—1 in 5—report a high incidence of on-the-job stress, a trend driven by the United States.Only 21% of people feel their employer is fully supporting their mental wellbeing.Employees around the world who feel supported by managers and colleagues are less likely to be in the high-stress category. Workers in the low-stress grouping say they’re more likely to engage in team-building activities, take days off, and have regular check-ins with their managers.

“This continuous evolution of work is both a challenge and an opportunity. It requires companies to be tuned in to how their workforce is adapting and feeling,” Richardson said. “If companies keep worker sentiment in mind, change can be an opportunity for growth.”

For additional findings and context on the global worker perspective, see the ADP Research Institute’s “People at Work 2024: A Global Workforce View” and its regional breakouts at ADPRI.org.

About the ADP Research Institute

The ADP Research Institute delivers data-driven discoveries about the world of work and derives reliable economic indicators from these insights. We offer these findings as a unique contribution to making the world of work better and more productive by delivering actionable insights to the economy at large.

About ADP (NASDAQ: ADP)

Designing better ways to work through cutting-edge products, premium services and exceptional experiences that enable people to reach their full potential. HR, Talent, Time Management, Benefits and Payroll. Informed by data and designed for people. Learn more at ADP.com

ADP, the ADP logo, and Always Designing for People, are trademarks of ADP, Inc. All other marks are the property of their respective owners.

Copyright © 2024 ADP, Inc. All rights reserved.

 

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SOURCE ADP, Inc.

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WorldSkills Lyon 2024: Talented Winners, Long-lasting Legacy

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September 19, 2024

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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.

From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.

Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.

The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!

What’s next?

The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.

Media Contacts: 
Alice Nahon
PR Officer
alice.nahon@publicis.com 

Anne-Laure TRONC
Press Relation Manager
media@worldskillslyon2024.com 

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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html

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LG NOVA EXPANDS EFFORTS TO DRIVE INNOVATION GROWTH THROUGH NEW PARTNER ALLIANCE PROGRAM

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17 mins ago

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September 19, 2024

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New Program Connects LG, Strategic Partners and Startups to Ignite Collaboration and Development of Innovative Ideas for a Better Future

SANTA CLARA, Calif., Sept. 19, 2024 /PRNewswire/ — LG Electronics today announced the launch of the LG NOVA Partner Alliance Program – a platform that brings together corporate partners and startups for cross-industry collaborations, technology and business development, and commercial partnerships to catalyze the growth of innovations for the future.

Spearheaded by LG NOVA, LG Electronics’ North America Innovation Center, the Program extends the success of LG NOVA’s mission to co-create new ventures with startups to its corporate partners with the goal to encourage exponential growth of new innovations in the market by creating more pathways for innovative ideas to flourish at a greater rate.

Joining the Partner Alliance Program at launch are Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic and the West Virginia Department of Economic Development. These organizations have all signed on to work with LG NOVA and its extensive startup ecosystem to generate and explore new concepts; develop, test, and validate those concepts; and collaborate on innovative product solutions or even co-create new businesses. Additional partners will be added to the Partner Alliance Program in the coming months.

“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation, LG Electronics and head of LG NOVA.

Kevin Chong, LG NOVA’s head of corporate and business development, said, “This program is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”

In bringing on corporate partners to its Program, LG NOVA is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers. 

The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG NOVA’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.

LG NOVA and the newly announced partners in the Partner Alliance Program plan to share more about their goals and vision for this program at the 2024 LG NOVA InnoFest, Sept. 25-26, at the Palace of Fine Arts in San Francisco, Calif.

LG NOVA’s annual InnoFest conference unites business leaders, innovators and investors to collaborate on solutions for a better future, this year, under the theme of “Lighting the Halo of Innovation,” inspiring attendees to focus on impactful co-creation and bold ideas. For more information about this year’s event visit https://innofest.lgnova.com/. 

About LG NOVA
LG NOVA, the North America Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

Media Contact:

LG Electronics USA

Linda Quach
+1 408 903 3045
linda.quach@lge.com

Partners & Quotes

Fujitsu Research of America

“We are excited to join LG NOVA in the Partner Alliance Program to explore new collaboration opportunities with them. LG NOVA approach to innovation and the Partner Alliance Program is a meaningful way for organizations from across different market sectors to come together and innovate,” said Takuto Komatsuki, Senior Director at Fujitsu Research of America.

About Fujitsu Research of America

Fujitsu Research of America is focused on developing cutting-edge technologies to solve digital transformation (DX) challenges faced by its customers. Its vision is to build a sustainable world through innovation and trusted partnerships. At Fujitsu Research of America (FRA), we have a myriad of very talented people working in a variety of areas – AI with transparency and ethics, social digital twin, web 3.0 technologies, quantum algorithms, and much more.

About Hyundai CRADLE

Hyundai CRADLE for Human-centered Mobility Innovation

Hyundai CRADLE is Hyundai Motor’s corporate venturing and open innovation business, which partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies. CRADLE identifies newly established startups that focus, amongst others, on ‘Disruptive Innovations.’

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.

Visit www.ibm.com for more information.

Mayo Clinic Innovation Exchange

“We look forward to collaborating with the LG NOVA team to share our expertise in healthcare innovation and to explore new opportunities with startups seeking to improve patient care and health outcomes.” said Jennie Kung, Vice Chair of the Mayo Clinic Innovation Exchange.

About The Mayo Clinic Innovation Exchange

The Mayo Clinic Innovation Exchange is a dynamic platform designed to accelerate healthcare innovation and foster collaboration among the global healthcare community. Leveraging Mayo Clinic’s world-class expertise and resources, the Innovation Exchange bridges the gap between emerging technologies and clinical practice, research, and education to bring breakthrough innovations to market, all for one shared mission—to benefit patients.

Niantic

“We see a great opportunity for entirely new spatial experiences leveraging AI and our 3D map
technology, tools and services to come to the forefront in the near future. We’re glad to see the
LG NOVA Partner Alliance program launch, as it has the potential to lead us to greater
collaboration across the growing ecosystem,” said Maryam Sabour, Director of Business
Development and Strategic Partnerships Lead at Niantic. 

About Niantic

Niantic’s global-scale augmented reality platform and digital map power spatial computing experiences in the real world. Incubated out of the Maps team at Google, Niantic first created Ingress and then Pokémon GO, a collaboration with The Pokémon Company, which has become a cultural phenomenon and hit game played by tens of millions of people each month. Niantic’s maps platform, which powers Pokémon GO, also supports the company’s other games and applications including Pikmin Bloom, Peridot, Monster Hunter Now and Niantic Scaniverse. Niantic’s mapping, AR and mixed reality platforms, tools and services are used by thousands of developers around the world. 

West Virginia Department of Economic Development

“West Virginia’s Department of Economic Development is eager to collaborate with LG NOVA through the new Partner Alliance program,” said West Virginia Department of Economic Development Executive Director, Mike Graney. “We look forward to strengthening our relationship with LG and engaging with the businesses throughout West Virginia.”

About the West Virginia Department of Economic Development

There is no better place to build and grow a business in the Eastern United States than West Virginia. The West Virginia Department of Economic Development’s mission is to improve the quality of life for all West Virginians by strengthening our communities and expanding the state’s economy to create more and better jobs.

 

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SOURCE LG Electronics USA

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Behr Paint Company Hosts First Student Design Competition

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17 mins ago

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September 19, 2024

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Design students encouraged to enter for a chance to win $3,000, plus $1,000 for their design school

SANTA ANA, Calif., Sept. 19, 2024 /PRNewswire/ — Today, Behr Paint Company announces its first-ever BEHR® Student Design Competition in partnership with MattoBoard, a 3D virtual sampling platform for designers. The competition is open starting today, September 19, through November 10, 2024, for full-time or part-time emerging professional design students.* 

Behr Paint invites design students to submit an original design plan for any commercial space such as hospitality, workplace, healthcare, multifamily and more. The design theme, “No Clear Boundaries,” draws inspiration from the BEHR 2025 Commercial Color Forecast, which celebrates the fluidity between designed environments that reflect the intersection of the past and future, digital and physical, and timeless and modern. Entrants must incorporate colors from the BEHR 2025 Commercial Color Forecast in their design along with BEHR’s 2025 Color of the Year, Rumors, a deep and timeless shade of ruby red. 

The competition was created to champion emerging designers by providing specialized resources and opportunities to showcase and celebrate their talents. “As a judge of the BEHR Student Design Competition, I am excited to see how each student embraces color and design,” said Erika Woelfel, Vice President of Color & Creative Services at Behr Paint Company. “At Behr, we are committed to supporting the careers of the next generation of designers, and I look forward to seeing the students’ creativity shine through.”  

The judging panel will also include Guy Adam Ailion, Architect and CEO / Co-Founder of MattoBoard; Kayla Kratz, Director of Color & Designer Segment at Behr Paint Company; and Amber Jones, Director of Architect & Designer Strategic Initiatives at Behr Paint Company.

The winner of the 2024 BEHR Student Design Competition will be awarded a $3,000 cash prize and $1,000 for their design school. The runner-up will receive a $1,500 cash prize, and the second runner-up will receive a $500 cash prize. All winners will also receive a 1-year MattoBoard Pro Subscription to continue using the platform for their design needs. Winners will be announced in December 2024 and will be featured on BEHR’s and MattoBoard’s social channels, blog, and email.

To learn more about the 2024 BEHR Student Design Competition and how to enter, visit www.behr.com/designcompetition.

*NO PURCHASE NECESSARY. PURCHASE WILL NOT IMPROVE OPPORTUNITY TO WIN.
INTERNET AND MATTOBOARD ACCOUNT REQUIRED. Trade contest offered in the 50 U.S. & U.S. Territories (“U.S.”) to full/part-time emerging Design students at U.S. eligible Institution (see Rules) who are legal U.S. res., 18+. Ends 11:59 P.M. PT 11/10/24. See Official Rules at: www.behr.com/designcompetition for entry, judging criteria and limitations. Void where prohibited. Sponsor: Behr Process LLC.

About Behr Paint Company
Founded in 1947, Behr Paint Company is one of the largest manufacturers of paints, primers, decorative finishes, stains, surface preparation and application products for do-it-yourselfers and professionals in the United States, Canada, and Mexico. The Santa Ana, Calif.-based company, and maker of BEHR®, KILZ® and WHIZZ® brands, are dedicated to meeting the project needs of DIYers, designers and professional paint contractors with an unwavering commitment to quality, innovation, and value. For more information, visit Behr.com. Professional paint contractors and designers can visit Behr.com/Pro to learn about products, color tools and services. Behr Paint Company is a subsidiary of Masco Corporation (NYSE: MAS).

Behr and the Behr logo are registered trademarks of Behr Process LLC.

About MattoBoard
MattoBoard is the first virtual sample library (VSamples©) and 3D moodboarding tool for interior designers. Designers can search, discover, curate and specify interior materials and products in real-time using light and shadow to examine texture and detail. Designers can download and share beautiful, photo-realistic boards and material spec sheets. MattoBoard’s mission is to bring a ‘touch and feel’ industry into the future by pioneering virtual sampling for designers and brands.

Media Contact: behrpro@mbooth.com 

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SOURCE Behr Paint Company

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