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The introduction of this next decade in 2020, with an onset of a pandemic is a peek into what this next decade might be about – BIG CHANGES!

With that said, 2023 brought with it different forces that created changes in the world, inflation, financial, which tends to lead into other areas of our lives.

In Part II of the Reflections on the 2023 Trends that I saw this is going to be mainly around Work, how We Work (pun intended (WeWork) , what causes the changes in work and other trends or happenings around this, and how these touch our lives.

Here is a summary of what we are going to talk about:

Work based changes:

a. Lay-offs

b. Growth of Gig Economy

c. Back-To-Office

a. Quiet Quitting

b. Hybrid Work Options

c. Skills-Based Hiring

d. Quiet Hiring

e. Labor Shortages /But then not

Layoffs:

Layoffs specifically in the Tech industry dominated the layoff news in 2023.

Even though with the economic pressures for large organizations there were layoffs in other industries, the Technology industry saw the biggest layoffs overall.

Healthcare was Stable except for the reasons I discuss below for the causes of Layoffs here. Infact there is a Shortage of talent resources for healthcare especially in Providers – Nurses & others is a BIG issue!

The layoffs were mainly due to these factors:​
Over hiring: during the pandemic by the Tech companies

Inflation: Was another big cause of these layoffs, again due to the increase in prices for just about everything that touches our lives

Slow Growth: Due to the inflation as stated above, many of the Industries and companies, had slow growths, due to people not buying as much. In turn it affects industries.

Artificial Intelligence (AI): Since the launch of ChatGPT by OpenAI on November 22, 2022, it has had a significant impact on coding—a skill traditionally carried out by Programmers/Software Engineers. From the onset AI was trained to assist with coding and this shift has reduced the demand for such resources due to faster AI-based programming and automation, leading to workforce layoffs.

For the Project management Profession, AI isn’t going to replace us anytime soon. AI assists us instead for efficiency and less Admin tasks than before.

Cost Cutting: Unfortunately, it is customarily believed that when there is slow growth or other pressures to company bottom lines, that layoffs is the first solution in the book for cost cutting.

Supply Chain Issues: For some of the Tech companies, the beginning and end of the year 2023, saw wars that have caused ripple effects on Supply chain for materials of goods.

Below are some graphs that show:

Top Layoffs by Tech Companies:

Tech Layoffs by Quarters since 2020 – 2023 As Comparisons:

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Healthcare Industry:

Speaking here mostly about the USA, while we are talking about overall layoffs, I want to address the Healthcare Layoffs separately – Since this is my main area of focus with what I mostly provide as services (though not only Healthcare, but mainly):

The healthcare Industry in the USA also had its fair share of layoffs. However, there was a trend that happened in 2023, that led to Closure of both hospitals, and specific Departments. The trend was that these areas have been closed, yet they also help the most Vulnerable:

a) Behavioral Health: Mental Health wellness

b) Labor & Delivery (L&D): Maternity Units and/or Hospitals

c) Pediatrics: Children’s Hospitals or Departments (as part of the Hospital Systems)

You can read more about the closures here.

What is causing these closures?
Bottom line: Restrictive laws passed in many states for the most part, and this isn’t about just Abortion, but even other restrictive laws, leading to closures for Hospitals and Clinical Providers alike to NOT lose their licenses. Sad 😪😔.

You can find more about these laws here.

Otherwise, of all the industries, the Healthcare Industry is one of the most stable as far as Jobs are concerned, especially when you look at the number of available job opportunities in Healthcare.

b) Growth of Gig Economy

Due to the loss of many jobs therefore, this has resulted in the growth of people needing to find work differently, working for themselves in different capacities working on Gigs, or with companies for Full-Time temporary work.

A Gig is a temporary work assignment, one works as a: Consultant, Freelancer, Independent Contractor, Rideshare & Delivery, Couriers…etc. It paves the way for a more decentralized workforce, while also giving options for opportunities different from Full-Time work.

This trend is continuing in 2024, considering that some people were laid off as 2023 ended, and others most recently in the new year – January 2024.

c) Back-To-Office:

Yup we still have companies that are *forcing* employees back to the office, and not giving them options. Even though companies have seen the employee satisfaction with them working remotely and not having to stress about traffic or other stressors, some are downright forcing them even in creepy ways - like this one that unfortunately of all industries is the parent company of WebMD. Check out this Video they sent their Employees here – creep-yyy!!

You can tell the so called “Executives are doing this painfully and awkwardly” – make sure you watch the video ☝🏽

I understand the reasons, but still for those that still want to work remotely, the preference is having options, than being forced back to offices. This trend will likely continue in 2024. It is up to what each one’s choice is, to go for that.

d) Quiet Quitting:

This movement of "quiet quitting" has gained traction as employees have sought alternatives without making a loud exit. This again came from tactics like the above of forcing people back into offices without options. Dissatisfied with their company culture or current roles, individuals discreetly explore new opportunities, contributing to a subtle but impactful shift in workplace dynamics. Employers, in turn, are faced with the challenge of identifying and addressing underlying issues to retain top talent, only if they care to.

e) Hybrid Work Options:

This is where employees are given options of how work, with a combination of both In-Office and Remote work styles. Some Organizations embraced a more fluid approach, allowing employees to choose when and where they work. This shift not only catered to individual preferences but also marked a departure from the rigid structures of the past.

In order to attract the Best talent some companies are giving this as options for new jobs, where possible (as some jobs have to be done in-person) in 2024. Finding the right balance will be crucial to employee satisfaction and productivity.

f) Skills-Based Hiring:

The "degree doesn't matter" chorus grew louder in 2023. 2023 saw a significant shift in hiring practices as companies prioritized skills over traditional qualifications. The emphasis on adaptability and a diverse skill set became paramount, leading to a more inclusive hiring landscape. Employers increasingly prized relevant skills and experience over formal qualifications or having a resume that indicated that . This trend is projected to continue in 2024, opening doors for individuals with diverse backgrounds and self-taught expertise.

By Self-taught meaning, Invested in oneself for your Upskilling via training and/or coaching that accelerates one’s learning to a shorter timeframe, than trial and error with different means here and there.

Therefore, Job seekers responded by investing in continuous learning, recognizing the importance of staying relevant in a rapidly changing job market.

You can read more about this trend here – By BCG.

By Fortune – Read here.

By CNBC - Read here.

By LinkedIn – Read here.

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The USA leads in the Skilled based Ads: Graphs below Show as such

Graph Showing the Overall World Trends In SKills Based Hiring With The USA Leading:

Note: How The Healthcare Industry is one of those highlighted in Green as going that route:

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g) Quiet Hiring:

On the flip side, counter to quiet quitting emerged in "quiet hiring". Organizations engaged in discreet recruitment strategies, focusing on attracting talent without making splashy announcements. Companies filled skill gaps by upskilling current employees or offering flexible arrangements to attract talent. This subtle approach allowed companies to target specific skill sets and allowed for employee development and retention in 2024 but raises questions about equitable access to such opportunities.

What this means therefore, is that professionals need to invest in upskilling if their employers do not provide Paid Professional upskilling. At the same time, networking with others in companies one wants to work at, is also important.

h) Labor Shortages /But then not:

The workforce encountered periods of apparent labor shortages, causing disruptions across various industries. These shortages prompted innovative solutions by adopting technology, automation, and strategic workforce planning to bridge the gaps and ensure continued operations.

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Shortages were faced in industries where historically the Pandemic hit hard, or that the Pandemic created high stress situations and professions in those sectors left, moved into different sectors, retired or became self-employed.

These Sectors included:

a) The healthcare (Falls under Professional Services in the Graph below)

b) Service and Hospitality: Specifically, the Restaurant sectors

c) Manufacturing

d) Construction (Falls under Professional Services in the Graph below)

Additionally, due to the pandemic, many Women also lost jobs or left the jobs market due to the amount of juggling needed and this is still on-going as many re-evaluate, reskill, and consider work style options (Remove, Hybrid, Onsite...etc.).

What Is In Store For 2024 And What Do We Do About It?

What we need to do, due to the many and large changes sometimes in Work we will are going to need to:

1) Reskill: Invest in ourselves to learning and developing new skills and be more marketable for our services.

2) UpSkill: Invest in ourselves to add skills that give us more leverage into leadership or Skills that put us in positions of a higher grade that add to our growth, overall satisfaction and fulfillment and incomes.

3) Flexibility: To utilize our transferable skillsets and get into New Sectors or Positions. Adding knowledge and skills to what we already have is crucial.

4) Other Work Options: With the growth of the Gig-Economy – growing even more in 2024, now more than ever we will need to depend on more than only 1 Job or income. Gigs give us options to add other forms of income using the skills we already have.

Employers currently also utilize some of the bigger Work Marketplaces like Upwork and Fiverr to work with Freelancers or Gig-Workers.

5) Work Style Options: We have been presented with options for how, where and when we work with Hybrid options of working. Therefore, professionals, Freelancers and Self-Employed workers can choose who they can work with and where they work from. This will only continue as such!

6) Networking: Keep in touch with others in the area you want to work in, in the future. Use LinkedIn for this and have Virtual or in-person coffee chats.

7) Stay Up-To-Date On Trends: To ensure that you know and are aware of what is coming and going in the market place especially your areas of interest. Currently the biggest Shift has been the Adaption of AI in almost all aspects of Life or the electronic Tools and devices we use daily. Learn to use AI in the different contexts

8) Artificial intelligence-AI: Even though this is NOT the End-All, Be-All having the knowledge of what is going on in AI and/or using it in some aspects is important. Though some jobs have been lost due to the efficiencies it has created, and some might be lost in the future, knowing how to use it in in areas we work in or tasks we do, is VERY crucial to NOT be left behind.

It might not take All the Jobs, but those that don’t learn to use it will be left behind and might infact lose their jobs or lose touch with new Technologies. Embrace It!

Overall, 2023 was a year of Big changes. As we reflect on the work-based changes of 2023 and their enduring impact on 2024, one thing becomes clear – remaining adaptable is the cornerstone of success.

For the Full Trends carrying into 2024 read more here:

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Get The 2024 Trends From 2023 - Lessons We Learned!

If 2024 is your year to Reskill or break out of where you are, consider joining me for the Masterclass Webinar:

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When: January 20, 2024 Saturday

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Virtual Doors Close on Friday January 19, 2024 at 9:00 pm

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