A survey of 2,502 India respondents among 53,192 global respondents, assessing and comparing the needs and expectations of the employees.
A year ago, PwC conducted a survey to feel the pulse of the employees across industries and gain insights that would help organisations recalibrate their workforce strategy to accelerate their transformation journeys. The findings indicated that employees placed a premium on organisational trust, innovation and hybrid ways of working. For them, financial reward and personal fulfilment were priorities when they considered making a change in their work environment.
A year on, given the market dynamics, employee expectations around career graphs and learning have evolved. Employees are now looking for jobs that make them feel empowered, provide them with a level playing field to learn, grow and stay ahead of the curve in a rapidly changing world.
This year, the Survey drew responses from 2,502 participants in India with 88% of them being fulltime employees. Of the India participants, 80% respondents are male and 20% female. The study reached out to people across generations – 54% millennials (27–42 years), 21% Gen X (43–58), 19% Gen Z (18–26) and 6% boomers (59–77). Respondents belonged primarily to seven industries – energy, utilities and resources (EU&R), financial services (FS), government or public sector units (Govt/PS), healthcare, retail and consumer (R&C), technology, media, and telecom (TMT), and industrial manufacturing (IM).
Based on the findings, the report assesses current employee needs and expectations in India. It pinpoints their hopes and aspirations, fears and apprehensions, which serve as catalysts to chalk out actionable steps for organisational transformation factoring in alignment of employee and employer perspectives.
Future-proofing the workforce with a skill-first approach
Addressing the paradox of possibilities for AI
Understanding the aspirations of a restless workforce
Reimagining the new age workplace
While most business leaders take the dynamism and disruption of work and skills as a given, we observe that employees in India are also aware of the skills required for the future. 62% of India employees believe the skills required to do their job will change significantly over the next five years; 69% of them are also aware of how these requirements will change as compared to 43% globally.
Notably, India employees also perceive digital and green skills to be more important than their global counterparts. Around 79% of India employees underlined that acquiring digital skills was extremely necessary over the next five years, compared to 57% of the global respondents. Similarly, 61% India respondents also agreed that adoption of green skills was imperative as against the global average of 39%.
Depicts the importance given to the above skills by employees in their career for the next five years
(Response shown is of India respondents and global respondents, ranging from ‘not at all important’ to ‘don’t know’.)
Note: ‘Net: Important’ values shown combines the responses for ‘extremely important’ and ‘very important’.
Source: Global Workforce Hopes and Fears Survey 2023
Despite the prospect of AI-fueled job losses, India respondents cite the positive impacts of AI more frequently than they do the negative ones. India respondents expect a higher positive impact of AI across multiple dimensions such as increasing their productivity at work (51%), helping them learn valuable new skills (47%), and creating new job opportunities (37%). However, one third of India respondents are underconfident about their capacity to learn these newer skills as compared to 18% globally.
Shows the impact AI could have on the career of the respondents in the next five years
(Response shown is of India respondents and global respondents, showing ‘positive’, ‘neutral’ and ‘negative’ sentiments.)
Source: Global Workforce Hopes and Fears Survey 2023
While we have seen the crest of the great resignation, in India it may still be a concern as 42% of India participants are likely to change jobs in the next year, as compared to 26% global respondents. Also, 69% of India respondents as against 42% globally are likely to ask for a pay raise, while 70% are willing to ask for a promotion, as compared to 35% globally.
A sizeable chunk of employees in India have also revealed that they are likely to look for new employment opportunities. The study shows that 42% India employees are planning to switch jobs as against 26% global respondents.
Shows how likely employees are willing to take the given actions within the next 12 months
(Response shown is of India respondents and global respondents, ranging from ‘not likely’ to ‘don’t know’.)
Note: ‘Net: Likely’ values shown combines the responses for ‘extremely’ and ‘very likely’
Source: Global Workforce Hopes and Fears Survey 2023
There is an overall positive sentiment among the workforce in India regarding culture at the workplace. 64% of India employees feel that they can choose how to do their work in a way that suits them as compared to 47% global respondents. Also, 73% of India respondents believe that they can truly be themselves at work as compared to 53% global respondents. This has also resulted in a motivated workforce as 69% of India employees are willing to step up and take on extra responsibilities beyond their job descriptions as compared to 50% global respondents.
Shows how actively the employees step up to take on extra responsibilities beyond their job description
(Response shown is of global respondents and India respondents, ranging from ‘strongly/moderately disagree’ to ‘strongly/moderately agree’.)
Source: Global Workforce Hopes and Fears Survey 2023
While the findings of the survey present a relatively positive picture of the Indian work environment, integrating a skill-first approach into every process is now a necessity more than ever before. Organisations also need to factor in the psychological safety net in their transformation journey. This indicates that there is ample room for people managers to be well-equipped and well trained to promote a culture of learning and challenge the status quo. Only when employees feel heard and supported will they align with the employer’s organisational vision and strategy to reimagine the future and future-proof the organisation.
2,502 India respondents participated in the survey which took into consideration the inputs of 53,192 respondents across the globe. The aim of the survey is to provide an overview of the employees' hopes and fears to CXOs, CEOs and Senior HR professionals.
