42% of employees plan job changes in 2024: Survey

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

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

Concerns about job security and AI's impact

The surge of AI raises apprehensions among 82 per cent of professionals regarding potential job displacement. Despite this, 78 per cent recognise the need for upskilling, showcasing a proactive approach towards staying relevant. Notably, Hiring Lab's research highlights the 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 the technology's increased adoption. Approximately 85 per cent of Indian firms introduce positions tailored to the demand for cloud skills, signalling a rise in job opportunities driven by technological advancements.

Job changes and retention strategies

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

Addressing 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 these insights delineates the challenges and possibilities for employees and employers alike in navigating the evolving landscape of the 2024 job market.