PwC has released its report titled ‘India Workforce Hopes and Fears Survey 2023’ which shows 51 pc of Indian respondents believe AI will increase their productivity at work as compared with 31 pc of global respondents, provided their organisations support them with upskilling opportunities.
“Amidst the rising uncertainty and seismic impact of AI, the workforce is demanding more from their employers on all counts. The workforce is not settling with a competitive compensation only – which continues to be a hygiene – but also a deeper job satisfaction, and faster growth opportunities to fulfil their aspirations. To thrive, organisations and leaders will need to make some tough choices while blending adaptability with innovative workforce structures and career pathways, for an ever-evolving landscape,” said Anumeha Singh, Partner, PwC India.
The study also showed 62 pc of India employees believe the skills required to do their job will change significantly over the next five years, and 69 pc of them are also aware of how these requirements will change. India respondents are also approximately 15 pc more confident as compared to their global counterparts that their employer will provide them with the necessary tools and opportunities to develop the requisite skill sets.
The report also highlights that the Indian workforce is restless, with 42 pc of employees indicating they may change jobs in the next year for better pay packages and promotions as compared to 26 pc globally. Additionally, 70 pc of India participants, as against 35 pc of their global counterparts, are willing to ask for a promotion.
Kartik Rishi, Partner, PwC India, said, “Most Indian leaders are aware of the criticality to transform their workforce for the future success of their businesses. Similarly, as their work and workplace are undergoing significant changes, employees in India are highly aware of the urgency to upskill, it increasingly becoming an important factor in their career decisions. However, organisations continue to adopt a much lesser focus on skills, especially those for the future, in their talent strategies and programs. Adopting a forward-looking, skills-first approach, which is integrated in their business processes will be a key factor for leaders in sustaining businesses over the next decade.”
Key highlights:
> 62 pc of Indian respondents said skills required for their job will change significantly in the next five years as compared to 36 pc global respondents. Also, 69 pc of them are aware of how the requirements will change. The urgency to upskill is also reflected in the fact that 53 pc of India employees underline new skill development as a reason for picking up a secondary job compared to 36 pc of their global counterparts.
> 24 pc of India respondents believe AI would impact the nature of their work in a negative way, which is 10 pc more than the global average. Furthermore, 21 pc of India respondents believe AI will take over their job as compared to 13 pc of the global respondents. The most common sentiment, expressed by 51 pc of respondents, is that AI will help them increase their productivity or efficiency at work in comparison to 31 pc of global respondents.
> 70 pc of India participants, as against 35 pc of their global counterparts, are willing to ask for a promotion. Millennials are keener on pay raises (74 pc) and promotions (74 pc) as compared to Gen Z, Gen X and boomers. Across levels, 73 pc senior executives, 70 pc managers and 63 pc non-managers are expected to ask for a pay raise.
> 73 pc of employees in India strongly or moderately agreed that they recommend their office as a good place to work, as against 51 pc global respondents. 73 pc of India employees also underline that they can truly be themselves at work and 64 pc of employees feel that they can choose how to do their work in a way that suits them.
Feedback: [email protected]
