42% of employees plan job changes in 2024: Survey

Employees vs AI: Employees across various sectors are conscious of potential job displacement due to surge of AI being incorporated in workplace. A recent survey by AmbitionBox indicated that rise has caused apprehension among 82 per cent of employees. 42 per cent of Indian workforce intends to switch jobs, prioritizing higher pay and career vancement, surpassing global average of 26 per cent.

In unfolding year, job market remains subject to continual fluxes driven by economic changes, technological strides, and quest for enhanced career pathways. Multiple studies forecast imminent scenarios, necessitating a comprehensive understanding of employees' and employers' stances.

Concerns about job security and AI's impact

surge of AI raises apprehensions among 82 per cent of professionals regarding potential job displacement. Despite this, 78 per cent recognise need for upskilling, showcasing a proactive approach towards staying relevant. Notably, Hiring Lab's research highlights varied effects of AI across sectors, with differing exposure levels ranging from 19.8 per cent to 34.6 per cent.

AI's impact on job creation and employee aspirations

In response to AI's evolution, organisations are creating novel roles, aligning with technology's increased option. Approximately 85 per cent of Indian firms introduce positions tailored to demand for cloud skills, signalling a rise in job opportunities driven by technological vancements.

Job changes and retention strategies

Around 42 per cent of Indian workforce intends to switch jobs, prioritising higher pay and career vancement, surpassing global average of 26 per cent. Furrmore, studies emphasise pivotal role of managers in employee retention, with satisfied employees showing a 72 per cent reduction in attrition rates.

dressing managerial satisfaction, accessible resources, and equal opportunities could notably diminish global attrition rates from 28 per cent to as low as 9 per cent.

Understanding se insights delineates challenges and possibilities for employees and employers alike in navigating evolving landscape of 2024 job market.