BUSINESS

Generational change, culture shifts and labour activism will reshape workplaces, while slowing inflation, rising wages and a surge in side hustles will finally put a little more money in Canadians' pockets

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1 Gen Z Will Dominate the Workforce

Gen Z-those born between the mid '90s and 2010-will comprise 27 per cent of the workforce across OECD countries next year. They're a stressed-out bunch, coming of age during a global pandemic and a historic cost-of-living crisis. They'll arrive in workplaces expecting mentalhealth support, flexible and remote work, and commitments to diversity. Employers are responding with perks such as benefits plans that include long-term psychological services, fewer in-office days and lengthy onboarding programs to let new hires find their comfort zone in the workplace.

2 The Government Will Enact Right-to-Disconnect Laws

With Slack and email on our phones, and our phones by our beds, it's getting harder and harder to log off from work. This year, the federal government will change that. For six years, it's been studying ways to create a Canadian right to disconnect. Modelled after laws in France, Spain, Belgium and Portugal, Canada's legislation will require employers in federally regulated industries, like air transport and telecom, to develop rules around after-hours contact. These changes would affect the roughly 500,000 Canadians who work in those sectorsthough not the federal public service, which the government says deserves its own special bill.

3 Open Banking Will Kick Into Gear

Open banking promises to get Canada's banks finally talking to each other. Already a reality in Australia and the U.K., the system forces banks to safely and securely share customer information with other businesses-with the client's permission, of course. Consumers can then use budgeting apps that show accounts, investments and loans across institutions, all in one place.