Pay and Promotion: Employees Priorities for Job change in 2024: Survey
The Indian labour force is expected to strive for (Pay and Promotion)greater pay, more opportunities for advancement, and a willingness to change careers.
Pay and Promotion are the Indian Employee’s priorities for Job change in 2024 PWC survey
A promotion, a good wage, a work-life balance, job happiness, and other factors are among the things that employees consider in their occupations. The employees can select from their own priorities based on what they require. However, more than 42% of Indian workers intend to shift jobs in 2024 in order to receive better salaries and promotions, the PWC survey revealed.
The Indian labour force is expected to strive for greater pay, more opportunities for advancement, and a willingness to change careers.
As per PwC’s ‘India Workforce Hopes and Fears Survey 2023,‘ this proactive approach is in line with their acknowledgement of the significance of upskilling and the possible productivity enhancements associated with artificial intelligence (AI).
In the midst of this drive, the Indian labor force exhibits increased restlessness, with 42% considering changing jobs in search of higher salaries and promotions—a significantly larger percentage than the global average of 26%.
Two times as many Indian professionals as their global counterparts are open to obtaining promotions, with 70% of them saying yes.
Millennials, as opposed to Gen Z, Gen X, and boomers, notably exhibit larger tendencies toward wage increases (74%) and promotions (74%). The tendency is clear even among different employment levels: 73% of senior executives, 70% of managers, and 63% of non-managers say they would be willing to bargain for a wage increase, highlighting the common goal of both financial and professional advancement.
PwC India Partner Anumeha Singh pointed out, “In the face of uncertainty and the transformative impact of AI, the workforce expects more from employers—not just competitive compensation, but deeper job satisfaction and faster avenues for growth.”
Indian workers are acutely aware of the need to upgrade their skill sets; among them, 62% believe that they would be required to do so in the next five years, which is far more than the global average of 36%. The fact that more than two-thirds (69%) are aware of these evolving skill demands highlights a shared awareness.
The fact that 53% of Indian workers mention skill development as the main reason for taking up secondary employment, above the global average of 36%, strongly illustrates the need for upskilling.
Compared to 31% worldwide, 51% of respondents expect increased productivity or efficiency at work as a result of AI. However, 24% of respondents—a 10% rise above the global average—fear AI would have a detrimental effect on the nature of their jobs. Furthermore, compared to the global figure of 13%, 21% of Indian participants think AI might replace their occupations.
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