A whopping 97% of the Indian workforce surveyed wants to make career changes over the next year but a large percentage is held back mainly due to financial struggles and lack of clarity about the next move, points out a survey of 14,600 respondents from 13 countries by tech behemoth Oracle and HR advisory firm Workplace Intelligence.
The global average is 83%, indicating a significantly more stuck workforce in India.
Within that cohort, 85 per cent Indians are facing major obstacles in their path forward in the form of financial struggles (38 per cent), not knowing what career change makes sense for them (27 per cent), lack of confidence to make the change (22 per cent), and no growth opportunities within their company (29 per cent). Globally, 76 per cent said they are facing major obstacles.
The findings of the survey, which had responses from employees, managers, HR leaders, and C-level executives, is similar to a Microsoft study which found that almost 62 per cent of India's workforce, including 51 per cent Gen Z employees (between ages 18 and 25), wants to switch jobs this year.
The trend, dubbed as the 'Great Resignation', is seen prominently in the more developed US economy. But experts and HR leaders deny any such trend on the ground in India, with hiring picking up in a bullish economy.
The Oracle study found the people in India and the UAE to be struggling the most, while workers worldwide have been negatively impacted over the past year. The trend is seen across several counts.
For instance, 96 per cent of the Indian workforce surveyed is not satisfied with their employer's support. Globally, this number is 85 per cent. The reasons of learning and skills development, higher salaries, and opportunities for new roles within their company hold varying degrees of significance for Indians and global peers.
An equal number of Indians (96 per cent) said the meaning of success has changed for them since the pandemic, with work-life balance (52 per cent), mental health (44 per cent), flexibility (49 per cent) and a meaningful job (44 per cent) contributing more to their definition of success than a steady paycheck. Globally, 88 per cent said the meaning of success has changed for them. 94 per cent in India and 87 per cent globally believe their company should be doing more to listen to their needs.
"Remote working and the continual pressure to win the race has exacerbated anxiety and loneliness, putting employees' mental health at risk," said Oracle Asia Pacific vice president (HCM) Deepa Param Singhal.
Robots as Career Counsellors
But Indians and those in the UAE are also the most open to technology support, the note with the selected findings said.
In India, 97 per cent people want technology to help them define their future by identifying the skills they need to develop, recommending ways to learn new skills and providing next steps to progress towards career goals. Globally, 85 per cent of people want technology help.
In India, 92 per cent respondents believe that robots can support their career development better than humans, 44 per cent believe that robots are better at giving unbiased recommendations, delivering resources tailored to current skills or goals (46 per cent), quickly answering questions about their career (50per cent) and finding new jobs that fit their current skills (44 per cent).Globally, 82 per cent believe robots can support their careers better than a human.
As many as 91 per cent in India would make life changes based on robot recommendations, while this number is 75 per cent globally.
"The results clearly show that investment in skills and career development is now a key differentiator for employers as it plays a significant role in employees feeling like they have control over their personal and professional lives. Businesses that invest in their employees and help them find opportunities will reap the benefits of a productive, engaged workforce," said Workplace Intelligence managing partner Dan Schawbel.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today