Learning and growth opportunities: a key criterion for Gen Z, millennials and future workforce: Study
Learning and Growth and Culture and Ethics are the top criteria for both Millennials and Gen Z when selecting an organisation, highlighting the employers’ continued focus on skilling and upskilling to navigate the current work environment and develop their desired career paths, the Nasscom-Indeed Future of Work report 2024.
Learning and growth opportunities: a key criterion for Gen Z, millennials, and the future workforce—Nasscom-Indeed Future of Work report 2024.
Organizations are concentrating on global expansion to investigate new markets for talent and strategic partnerships to obtain competitive advantage and new market access, according to the recent report “Future of Work: Unraveling the Intricacies of New-Gen Work.” Therefore, the necessity for diversification and reaching untapped customer bases is what is driving this focus on new market entry.
The research also emphasized how service-based companies and GCCs are seeking to capitalize on the innovative potential present in the different talent pools concentrated in these developing technology hubs, which is why expansion throughout Tier-2 and Tier-3 cities in India is becoming more and more prominent. The availability of different skill sets and untapped potential in these technological centers are the main drives for larger tech enterprises (revenue > Rs 250 crore), whereas talent availability and cost reductions are the main motivators for smaller organizations with sales less than Rs 25 crore.
In partnership with Indeed, Nasscom India is conducting the survey. Based on an extensive survey of employers, present employees, and the future workforce, the research analyzes the transforming landscape along three key pillars: the future of jobs, workforce dynamics, and the evolving workspace.
The future of jobs with Learning and growth
Most firms are using a flexible and hybrid work style, with job profiles and organizational demands dictating office attendance while job responsibilities continue to change. Businesses are tailoring their methods according to their size, workforce dispersion, industry restrictions, and particular job requirements in order to further persuade employees to return to the office. To boost staff morale and motivation, these tactics include encouraging an engaged culture through in-person activities, encouraging candid conversations with senior executives, and commemorating group and individual accomplishments.
Additionally, as more and more businesses adopt new technologies, there is a growing need for specialized positions like blockchain specialist, quantum computing researcher, quantum AI developer, and AI/ML scientist. Employers are tackling this issue by either upskilling their present staff or employing subject-matter experts through flexible working models like gig and contractual employment, despite the intricacy of these roles restricting their current uptake. Data and analytics jobs are at the top of the most sought-after job groups. Jobs that improve customer experiences, automation, and efficiencies—especially in the AI and machine learning domains—come in close second.
The Future of workforce and workspace with Learning and growth
Additionally, as more and more businesses adopt new technologies, there is a growing need for specialized positions like blockchain specialist, quantum computing researcher, quantum AI developer, and AI/ML scientist. Employers are tackling this issue by either upskilling their present staff or employing subject-matter experts through flexible working models like gig and contractual employment, despite the intricacy of these roles restricting their current uptake. Data and analytics jobs are at the top of the most sought-after job groups. Jobs that improve customer experiences, automation, and efficiencies—especially in the AI and machine learning domains—come in close second.
Traditional work roles and organizational structures have undergone significant change as a result of the gig economy. This has resulted in more varied skill sets, more flexibility in the allocation of resources, dynamic team configurations, and revised definitions of positions. In a poll conducted by Indeed and Nasscom, which included 185 businesses and over 2,500 members of the present and future labor forces, 84% of firms said they were considering or were open to the idea of using gig workers, with startups and the business process management (BPM) industry leading the way. Flexibility in work location and an emphasis on specific skills are the main reasons why Gen Z and Millennials choose freelance work. In industries including software development, data annotation, and business analytics, companies are leveraging gig workers to their advantage by gaining access to on-demand talent and specialized knowledge.
India’s IT sector is undergoing a dramatic metamorphosis that reflects the changing nature of the modern workplace. There has been a discernible change in the last five years from traditional office settings to the investigation of remote work, with a current trend of going back to the office. The dynamic interplay between productivity gains from automation and the boundless creative potential unlocked by ongoing innovation will shape the nature of employment in the future. According to Sangeeta Gupta, senior vice president and chief strategy officer of Nasscom, “organizations are devoting significant efforts to understanding their workforce needs and investing in various programs to create an attractive proposition for returning to work.”
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