Economic Uncertainty Drives Workers To Pursue New Job Prospects And Education
In India, a significant number of Gen Z workers are reevaluating their career paths in response to economic uncertainties and a dynamic work environment. Many are actively seeking new job opportunities and, in contrast to their millennial counterparts, are somewhat less optimistic about the state of the job market. The motivation behind this quest for new employment includes a desire for improved pay, enhanced work-life balance, and increased flexibility.
The Pearson Skills Outlook Survey – Employee View highlighted that Gen Z workers in India are more likely to be actively seeking new job prospects compared to Gen X, although they are less optimistic about the job market than millennials. A striking 88% of Gen Z workers in India have reconsidered their career paths due to the uncertainties of the last three years. This percentage significantly exceeds the 67% of millennials and 55% of Gen X workers who expressed similar sentiments.
The drive for newer employment is fuelled by various factors, including the pursuit of better compensation, greater flexibility, and an improved work-life balance. To enhance their marketability, workers are investing in training and education to upgrade their skills. This proactive approach ensures that the workforce remains prepared for the challenges of the evolving job market, particularly considering automation and artificial intelligence making traditional jobs obsolete.
The Pearson Survey underscores the importance of education and training as vital resources for career advancement. Gen Z workers recognise that acquiring additional education or training can enhance their marketability and prepare them for the evolving job landscape. Language learning programs and short courses are particularly appealing to Indian workers seeking educational opportunities.
The report, based on the input of 4,000 people in four countries (US, UK, India, and Brazil), identified short courses, employer-sponsored training, and university degrees as the most valuable resources for career advancement across markets. In India, certifications from professional organisations (34%) and platforms (34%) were identified as the top two types of education necessary for career growth, making employers offering certifications more appealing to the workforce.
Skills development emerged as a highly sought-after trait among employees. The study revealed that 75% of Indian employers offer upskilling or reskilling opportunities as a benefit, and nearly 92% of Indian workers who have access to these benefits take advantage of them. Indian workers view tech-focused skills as a gateway to new opportunities and industries.
The top three skills Indian workers are currently developing include teamwork, problem-solving, and data processing, while their future aspirations encompass coding and programming, artificial intelligence, and further expertise in problem-solving and data processing.
The survey found that 88% of Indian workers anticipate a lifelong learning journey to stay current in their careers, with 82% believing that learning a new language would enhance their career prospects. Enhanced English language skills are widely regarded as a prerequisite for better career opportunities, with 85% of respondents perceiving the improvement of their English language skills as beneficial for career advancement. Short courses are the preferred educational modality for Indian workers, aligning with their vision of future learning opportunities.
The Pearson survey highlighted that many Gen Z workers in India are enrolling in skill-based programs to enhance their marketability and employability, particularly in tech-focused fields. They believe that tech-based skills are essential for accessing new opportunities and emerging industries.
The survey revealed that the vast majority (84%) of Indian workers consider some form of university education essential for securing good jobs or achieving a successful career. Gen Z workers are increasingly willing to pursue university education to enhance their job prospects, with 88% of Indian workers actively acquiring new skills or enrolling in programs to further their education in a bid to advance their careers and secure better job opportunities.
Employers in India are actively involved in training their employees, recognising the role of higher education and skill development in career advancement. In an ever-changing economy, individuals who remain open to change and embrace continuous learning are better positioned for success in the long term.
The trend of workers seeking new opportunities and being open to change is expected to persist in the coming years as economic uncertainties drive individuals to seek financial improvement and better work-life balance through new and evolving opportunities.
