Over 30% of Indian employees are likely to switch to a new employer and 71% are concerned about being overlooked for career advancement, according to a PwC India report.
The survey finds that 34% of respondents in India believe they are extremely or very likely to switch to a new employer as compared to 19% globally. Further, 32% say they plan to leave the workforce. Millennials are the most likely to seek new employment, with 37% indicating that they are likely to switch employers in the next 12 months. While Gen Z employees are less likely to quit, 33% of them are extremely or very likely to ask for a reduction in work hours.
According to the survey, the shift to hybrid work is expected to continue, with 81% of employees in India believing that their jobs can be done remotely and with 31% of those who can work remotely already working in a hybrid way.
Also, a significantly higher proportion of Indian employees are concerned about being overlooked for career advancement as compared to their global peers. “This points to the need for deploying more transparent and data-driven processes to define career pathways,” PwC said in a report.
Chaitali Mukherjee, partner and leader (people and organisation), PwC India, said, “The disruptive landscape of social, environmental, economic and geopolitical changes has had profound consequences on organisations and their workforce strategies. For an organisation to be fit for future, it is imperative that employee perspective dovetails with the employer’s perspective to accelerate transformation, keeping in mind the workforce dynamics, with well-defined tangible measures to bring about greater alignment between both these aspects.”
India is one of the countries with a huge perceived gap in skills, with 54% of employees strongly or moderately agreeing that India faces a shortage of their skill sets and 67% believing that their job requires specialist training, the PwC report said. At present, employers are seen as addressing skill shortages through wage increases, recruitment and automation, with fewer using up-skilling as a strategic lever.
Also, more than half of the respondents in the survey are concerned about the lack of opportunities to work with or learn technological skills from their colleagues. This learning gap begins at the top, with more than 50% of CEOs perceiving a lack of opportunities for learning technological skills.
Sensitive social and political topics are occupying an increasingly important place in workplace conversations, with 75% of employees having had conversations of this nature, highlighting the need for employers to actively create safe spaces for such conversations.
The survey also highlights that employees expect more transparency and support in incorporating environmental, social and governance (ESG) considerations into their work.
“Balancing business considerations with employee aspirations is easier said than done. However, given the fact that the future of work is undergoing a massive overhaul, it is important to prioritise leadership and employee capabilities to drive change and move the needle in business,” Mukherjee added.