TriNet, a leading provider of comprehensive HR solutions for small and medium-sized businesses (SMBs), has released the results of its 2024 State of the Workplace report. This industry-wide pulse survey sheds light on current and emerging workplace trends, highlighting the perspectives of both employers and employees on critical issues such as AI adoption, job satisfaction, and employee benefits.
- Satisfaction and Engagement:
- Work/Life Balance:
- 61% of SMB employers reported satisfaction with their work/life balance, compared to 52% of employees. A hybrid work schedule is preferred by nearly half of the employees, with satisfaction levels dropping for those who work in-office full-time.
- Employee Engagement:
- 85% of employees and 81% of employers report moderate to extreme engagement with their work. Engagement levels are high across all generations, with Millennials leading at 87%. Key motivators include compensation, belief in the company mission, interesting work, and productivity.
- Work/Life Balance:
- Benefits Support:
- Importance of Benefits:
- Benefits are a top factor for employees when considering leaving or joining a job, with 79% rating them as moderately to extremely important. Medical insurance ranks as the most important benefit, followed by paid time off, dental, retirement plans, and vision coverage.
- Generational Differences:
- Millennials and Gen Z prioritize benefits like education reimbursement, childcare assistance, fertility coverage, and parental leave more than other generations.
- Challenges in Accessing Benefits:
- There is a gap in how easily employees can access and use their benefits. Only 58% find enrollment technology easy to use, with Gen Z facing more challenges than Baby Boomers in accessing benefits support.
- Importance of Benefits:
- AI and HR Automation:
- AI Adoption in the Workplace:
- AI is increasingly used in the workplace, with 88% of employers and 71% of employees harnessing AI in their roles. Sectors like Technology and Financial Services are leading in AI adoption, particularly for HR tasks.
- Preference for AI in HR:
- A significant portion of employees and employers prefer using AI assistants for HR-related queries over speaking with HR administrators, citing quick responses, ease of use, and better privacy.
- AI Adoption in the Workplace:
- Employer Perspectives on HR Technology:
- Impact of HR Tech and Predictive Analytics:
- Employers believe that advances in HR technology and predictive information can enhance their businesses by improving employee morale, retention, engagement, and development.
- Impact of HR Tech and Predictive Analytics:
TriNet’s 2024 State of the Workplace report provides valuable insights into the evolving dynamics within SMBs, particularly around job satisfaction, benefits support, and AI adoption. By understanding the perspectives of both employers and employees, businesses can better align their strategies to meet workforce needs and stay ahead of emerging trends.
