85% of India Inc. employees concerned about job security for 2024, reports a survey by AmbitionBox
- 53% strongly disagree with 70 hour work week while 32% agree with it
- For 65% of respondents, a 40-60 hrs work week is ideal for productivity & well-being
AmbitionBox, India’s No. 1 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 captures crucial insights into employee sentiments and expectations for the upcoming year, 2024.
As 2023 draws to an end, AmbitionBox reflects on a year filled with HR innovations, trends, and controversies. 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; the survey explores a range of fascinating perspectives from employees on their experiences throughout the year.
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.
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 organization, consistent leadership, and a positive outlook for the organization’s future.
Interestingly, in stark contrast, 46% of respondents harbor significant concerns regarding their job security in the coming year.
Mayur Mundada, Founder and Business Head, AmbitionBox commented on the survey results, saying, “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:
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%.
About AmbitionBox:
AmbitionBox is India’s no. 1 platform for company reviews and salary insights. It is an online platform for users to search and share company reviews, salaries, potential interview questions, and more. Launched in 2015 and acquired by Naukri in 2016, the platform benefits both job seekers and employers, offering employers to improve their employer brand through various tools, encourage employee reviews, showcase their work culture, introduce team members, highlight employee benefits, and gain insights about their company’s page.
The AmbitionBox Employee Choice Awards (ABECA), India’s largest annual “employee” choice awards is a key feature of the platform. Companies are ranked based on the reviews & ratings they receive from current employees on the platform, reflecting a transparent workplace and leading to higher employee retention. The third edition of ABECA will be announced in the first quarter of 2024.
