88% employees in India plan to switch jobs: LinkedIn
What's the story
The job market is getting tougher day by day in the face of economic uncertainty but professionals are ready to switch jobs. In fact, nine in 10 professionals in India are considering a new job in 2024. As per the latest LinkedIn study, 88% of Indian professionals are contemplating a job change this year, which is a 4% increase from 2023. Job search activity on LinkedIn also surged by 9% last year compared to 2022.
Details
Reasons for job shift and new career paths
The quest for a better work-life balance (42%) and higher salaries (37%) are the primary drivers for job changes, according to LinkedIn. A staggering 79% of Indian professionals are open to exploring new career paths and opportunities outside their current industry or role. This adaptability reflects the challenging economic climate and the determination of professionals to evolve and succeed.
What Next?
Challenges in matching skills to jobs
Nearly half, or 45%, of professionals face challenges aligning their skills with desired jobs due to the fast-paced changes in skill requirements, primarily driven by advancements in AI. LinkedIn data shows that skill requirements for jobs in India have shifted by 30% since 2015. Job hunting has become increasingly difficult, with 55% of professionals finding it frustrating and 59% seldom receiving responses from recruiters.
Insights
Adapting job search approach and fastest growing roles
To differentiate themselves in a competitive market, 72% of professionals have altered their job search strategies, experimenting with innovative formats like video and digital resumes. 81% believe AI can enhance the efficiency and productivity of their job search. They are also investing in building their professional brand and networking, with 79% sharing more content on LinkedIn and 83% actively expanding their professional network.
Insights
Fastest-growing job roles
As per LinkedIn's latest "Jobs on the Rise" list, the top three fastest-growing jobs in India for 2024 include Closing Manager, Influencer Marketing Specialist, and Design Specialist, each boasting growth rates above 79%. Drone Pilot and Recruiter comes next on the list. As Indian professionals take control of their careers in 2024, the job market becomes more competitive with a rising number of professionals, said Nirajita Banerjee, Career Expert and Senior Managing Editor for LinkedIn India in a post.