Unlike millennials, GenZ employees don’t want to quit but want fewer working hours

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Unlike millennials, GenZ employees don’t want to quit but want fewer working hours
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  • Millennials are more likely to quit their jobs this year amid the Great Resignation sweeping the country.
  • GenZs may ask for more reduction in working hours instead of quitting jobs, a PwC report finds.
  • Learning gap still persists in India and starts at the top level of the companies.
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Even as the Great Resignation sweeps the globe, India is one of the top countries where its effects are seen the most.

According to a survey by PwC, around 34% of Indians are likely to switch their jobs this year, as compared to 19% globally. Moreover, 32% say they plan to leave the workforce, says PwC’s India Workforce Hopes and Fears Survey 2022.

On the top of the list of job switchers are millennials – 37% of them are likely to quit their jobs this year in India.

The next generation – GenZs – are less likely to quit as compared to millennials. But 33% of them are most likely to ask for a reduction in the number of working hours, the Survey found.
The Covid-19 pandemic changed the way employment is perceived and led people to re-think their career paths. The report further suggests that nearly 60% of millennials are most likely to ask for a raise and promotion as compared to GenZ, GenX and baby boomers in India.

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Millennials are more likely to quit their jobs this year amid the Great Resignation sweeping the country.GenZs may ask for more reduction in working hours instead of quitting jobs, a PwC report finds.Learning gap still persists in India and starts at the top level of the companies.

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As many as 81% of employees surveyed believe their jobs can be done remotely. And, 31% of those who can work remotely have embraced the hybrid model.

“For an organisation to be fit for the future, it is imperative that employee perspective dovetails with the employer’s perspective,” said Chaitali Mukherjee, partner at PwC India.

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There is a huge skills gap in India. As many as 54% of employees strongly or moderately agree that they lack skills required for the job. And, 67% believe that their job requires specialist training.

Interestingly, this learning gap begins at the top. More than 50% of CEOs and senior executives say that they lack opportunities to work with or learn technology skills from colleagues, and to receive training on digital skills from their organisations.

“This learning gap at the top level needs to be addressed urgently so that leaders are equipped to drive upskilling for the larger workforce. In summary, transformation in the future of work will necessitate human-led and technology-enabled ways of working,” the report said.

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Around 51% of the employees expect their employers to help them with relevant skills training needed for their career.

Employees also fear that these new technological innovations will end up eating their jobs. And, 42% of respondents in India expressed this concern compared to 30% globally.

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Fin services will beat tech with the best salary hikes in 2023, says report

Fin services will beat tech with the best salary hikes in 2023, says report

Millennials are more likely to quit their jobs this year amid the Great Resignation sweeping the country.GenZs may ask for more reduction in working hours instead of quitting jobs, a PwC report finds.Learning gap still persists in India and starts at the top level of the companies.