Job Security has become the top Work preference for job seekers globally yet they also demand opportunities for Learning and Development!
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? Over 60% of job seekers feel that they have the advantage in labor market negotiations.
?? Despite technological advancements, geopolitical shifts, and demographic changes, Talent continues to be a crucial and limited asset amid global talent shortages and low unemployment rates.
Many job seekers believe they have the advantage in securing the positions they desire, complete with the features they are looking for.
?? Demonstrating remarkable adaptability, a significant number of employees have adopted the GenAI revolution.
?? Approximately 40% utilize GenAI tools on a regular basis, often for critical work tasks, with this trend being particularly pronounced in emerging economies where the uptake of new technology is notably swift.
?? Employees who expect that GenAI will significantly affect their jobs tend to place a greater emphasis on the importance of learning and development, according to a new interesting research published by 波士顿谘询公司 using data ?? from a survey of 150,735 employees in 188 Countries - the sample includes 51% men and 49% women, most of whom work in commercial industries.
?Job seekers are increasingly confident in their ability to negotiate terms.
Research indicates that a majority of job seekers (64%) perceive themselves to be in a strong negotiating position, enabling them to select from various job offers and negotiate favorable compensation packages. This sentiment is widespread across different job roles.
?? The confidence of job seekers is not misplaced. Whether they are actively seeking, passively interested, or not looking for new employment, many workers report frequent job offers: 75% indicate they are approached about job opportunities several times a year, and 19% receive contact on a weekly basis.
?Job seekers prioritize job security above all else.
Researchers found that job security is now, the number one work preference overall but with some variation among regions.
Researchers suggest that these findings predominantly mirror workers' apprehensions regarding their long-term employability, as the data link a growing demand for job security to an elevated consciousness of technological disruption.
?GenAI enhances the focus of employees on job security and learning opportunities.
?? Interestingly, researchers found that employees who voiced concerns regarding the impact of Generative AI on their employment tended to place a higher emphasis on job security.
The influence of technology on employment has long been recognized, yet Generative AI introduces a heightened level of disruption. It affects a broad spectrum of occupations and sectors, extending its impact beyond routine tasks to encompass creative and conceptual roles as well.
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?Willingness to reskill is linked to the importance of Job Security and the perceived impact of GenAI
?? Researchers found that employees in countries where job security is highly valued are more open to reskilling, often driven by the aim to secure their long-term employability.
Likewise, employees who anticipate that GenAI will significantly affect their jobs show a greater readiness to acquire new skills, possibly as a precautionary step to enable them to transition to a different role if needed.
Finally researchers provide below five recommendations to employers to fill talent gaps:
?? Forecast the impact of technology on the organization’s workforce.
Organizations stand to gain by treating strategic workforce planning as an ongoing process. They should then align their evaluation of employment needs with a projection of talent availability, taking into account factors like retirement ages and staff turnover.
?? Shift to skills-based human resource management. In an era of swift technological evolution, the relevance of a static college degree diminishes as employees are required to continually acquire new and evolving skills.
?? Modernize and personalize recruitment. The recruitment process is significant for workers. It's crucial to ensure a responsive, seamless, and equitable process, and technology can be beneficial when utilized correctly.
?? Know who to target and how to customize offers. When it comes to the employee value proposition (EVP), one size does not fit all.
??Shift from traditional training to strategic skilling. Faced with rapid advances in technology, shortages of talent, and major changes in the way people work, employers must shift from traditional training methods to strategic upskilling and reskilling.
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The Future of Work is complex and multifaceted. This wonderful research underscores that employees prioritize stability, with job security being paramount. Additionally, there is a strong desire for opportunities to learn and advance within their organizations. Despite the transformative potential of GenAI technology, employees are willing to adapt to new ways of working. To attract and retain talent, employers face a challenging task. They must foresee the effects of technological advancements on their workforce and implement comprehensive reskilling initiatives to maintain employee competitiveness. Concurrently, fostering a values-driven culture and engaging prospective employees with a tailored recruitment approach is essential.
Thank you ?? 波士顿谘询公司 The Stepstone Group researchers team for these insightful findings: Jens Stefan Baier Orsolya Kovacs-Ondrejkovic Dr. Tobias Zimmermann Pierre Antebi Dr. Susan Gritzka Sacha Knorr Vinciane Beauchene Carmen Márquez Castro Zo? McFarlane Anja Bates Niharika Jajoria Julie Bedard Ashish Garg
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HR Strategist. Lecturer and International Speaker on HRM and Value Management.
9 个月An insightful and thought-provoking article Nicolas BEHBAHANI. Whilst I am in agreement with both yourself and Dave Ulrich, I wonder if employers are in a position to know what the overall outcome of transitioning to AI will entail. Gen AI, as you have mentioned, is already available but the content needs to be put into context (each organisation being different) before utilisation. My own opinion is that organisational (and employee) growth will still come from internal innovation and creativity in the foreseeable future. The question is: What does the longer term look like? Are employers really in a position, at this time, to envisage where we will be 5 years down the line? Thank you for sharing.
Industry Veteran | Exploring Future of Work | Great Manager’s Coach & Mentor
9 个月Excellent & relevant research share + your personal views, ?? Nicolas BEHBAHANI. I liked the researchers' 5 recommendations to employers to fill talent gaps. ?? ?? Yes, there is a high correlation between a turbulent work environment (geo-political challenges, Gen-AI, etc.) & job insecurity - fallback learning is essential. ?? BUT the Ball is in Employers court - WHY? ??♂? Studies show that job-insecure employees are less likely to engage in informal learning due to decreased occupational self-efficacy & increased psychological contract breach, making them more vulnerable in a volatile work environment - Therefore: ?- Solution - Employers to create workplaces where stability & growth go hand in hand. ???? SAFE Model can work: S - Security of people is paramount, including the psychological contract, A - Agile Strategy & People Alignment, F - Forecast the impact of tech & Finance personalized learning, E - Empower, Energize, & Engage people for continuous learning & development (before they ask).
Human Resource Professional | MBA | Coporate Recruiting Professional- ASA | Ex-Wirtgen Group,A John Deere Company
9 个月Very informative and thought provoking!Employees are acutely aware of the potentially disruptive impact of GenAI on their job stability, which underscores their need for a secure work environment. Organizations and leaders must assess roles that will be affected by GenAI and prioritize learning and development, recognizing that ongoing upskilling is crucial to remaining relevant. Skills such as critical thinking, creativity, problem-solving, and emotional intelligence will become highly prized alongside technical expertise. This new generation of talent will play a key role in driving innovation, effectively leveraging AI capabilities, and seizing new opportunities. Shifting from traditional training to strategic skilling empowers employees to continuously develop new competencies, rendering them indispensable in the GenAI-driven future. Thank you for sharing this excellent research.
Future of work, skills and talent | BCG expert on People Strategy
9 个月Thank you for the great summary and the shout out - and thanks Dave Ulrich for your nice words about our research! It’s very important to us to gather more data about what workers truly want, to improve decision making about how we manage the workforce.
Speaker, Author, Professor, Thought Partner on Human Capability (talent, leadership, organization, HR)
9 个月Nicolas BEHBAHANI Thanks for sharing. I really like the longitudinal view of what best engages employees. The "GenAI" era (post COVID era) will likely bring uncertainty which creates fear and leads to job security being ranked so high. Talent in the GenAI era may become more scarce as GanAI can replace many of the knowledge sorting jobs. The emerging jobs will likely be those who create new knowledge and turn information generated from GenAI into actions. Sourcing, this new and still to be fully defined, talent will be a differentiator for an organization. Again, BCG has a legacy of interesting research that can help business and HR leaders improve decision making. I think we are still moving up the S-curve of genAI applications and we can begin to envision genAI as more than information for efficiency.