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Future of Work – Unravelling the Intricacies of New-Gen Work

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This year’s edition of the report highlights the view of not just the current workforce and employers but also the mindset of the Gen Z ‘future workforce’ with respect to their career choices, expectations from their future employers, their preferences and priorities in terms of continuous learning and development and more importantly their mettle as not just a technologically savvy individual but even more as a socially and ecologically aware citizen trying to make a larger contribution to society.

Key Findings

Future of Jobs
  • Geographical Expansion - IT Services and BPM organizations have already expanded to Tier 2/3 Cities, but more than 50% of GCCs and Product organizations are now following suit to leverage the available talent and cost savings
  • Hybrid Work Model - Majority of the organizations are favoring a hybrid and flexible working approach with operating from office being driven by the need and requirement of the organisation and the work profile
  • Emerging Jobs and Technologies - AI/ML Experts and Data Scientists roles are the most in demand roles across all the technology subsectors, while professional skills like analytical abilities , problem solving, and strategic thinking continue to gain prominence
Future of Workforce
  • Emerging Workforce Dynamics - Tech industry remains the industry of choice for 77% of future Gen Z workforce. This future workforce is also willing to stay with their first organisation for over 2 years provided they get the right EVP.
  • Organizational DEI Policies - Majority of the organizations are fostering an inclusive work environment which is helping the industry to move towards increased participation of women with their share currently at 36% in total workforce
  • Gig Economy - While more than 80% of the organizations are exploring leveraging gig workforce to deliver critical engagements, the concerns pertaining to data security remains a challenge.
Future of Workspace
  • Redesigning Workspaces - Organizations are actively incorporating a culture of innovation and creativity through the use of design elements and informal meeting spots - to make workplaces attractive motivating for the workforce to return to offices.
  • Culture of Innovation - 66% of Millennials and 74% of Gen Z are happy with the level of support and encouragement for innovation. Along with making design changes to their current offices, 40% of all organizations are looking to lease new offices
  • Societal Impact - 90% of the current Gen Z and Millennial workforce believes that it is important to incorporate ESG principles in its policies and processes. 83% of the workforce believing that their organization is actively working on environmentally sustainable practices
Response to change
  • Organizations are focusing on a holistic EVP with an increased focus on Learning, Employee Wellbeing, Culture, Environment and Effective Leadership
  • Fostering a learning culture and building business-centric capabilities remains a top priority, with employee wellness emerging as an equally important focus area
  • Focus on ESG and inclusive culture have increasingly gained importance across organizations
  • Leaders are also being expected to transform themselves to reflect the changing needs of the diverse talent pool they are lead today

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