46% Employees Of India Inc Worried About Job Security In 2024: Report

From the 70-hour workweek debate on social media to the surge in demand for hybrid and remote work models, companies transitioning back to in-office normalcy post-COVID, and widespread concerns about job security due to economic volatility; a new survey explored a range of fascinating perspectives from employees on their experiences throughout the year.

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AmbitionBox, the platform for company reviews and salary insights, has conducted a comprehensive survey on the state of the workforce, revealing key trends and controversies that have shaped the year 2023.

The survey also captured crucial insights into employee sentiments and expectations for the upcoming year, 2024.

Key findings of the survey;

The survey indicated that 81% of respondents were happy with the hybrid/remote work model this year. A substantial 52% of employees expressed a desire for the continuation of the same in 2024, underscoring a widespread reluctance to return to a conventional 5 or 6-day work week. Strikingly, 30% of respondents indicated a distinct preference for working entirely remotely.

Work-life balance

This trend reflects a discernible shift in priorities with 45% of respondents anticipating a better work-life balance next year. More than half (53%) disagree with a 70-hour work week, with 66% asserting that 40-60 hours per week is ideal for productivity and well-being.

70% of respondents expressed confidence in their employer’s stability for 2024 in terms of the financial health of the organisation, consistent leadership, and a positive outlook for the organisation’s future.

Interestingly, in stark contrast, 46% of respondents harbour significant concerns regarding their job security in the coming year.

Mayur Mundada, founder and business head, AmbitionBox, said, “Understanding the trends and controversies that have shaped the HR landscape is crucial for both employers and employees. Addressing these insights as we move into 2024 can foster a more positive and collaborative work environment. By acknowledging and responding to the sentiments and expectations of the workforce, businesses have the opportunity to adapt and create a workplace that aligns with the evolving needs and priorities of their employees.”

Methodology of the survey:

A diverse pool of more than 3400 employees on the platform participated in the survey, with a 75% male representation. 71% of respondents were under the age of 35 with 42% of those being between the ages of 25-34 years. Among the dozens of listed sectors in this survey, the majority of respondents came from the IT Services sector at 20%.