ADP Research Institute’s People at Work 2023: A Global Workforce View has revealed that over four in 10 male workers (42%) do not feel secure in their jobs, suggesting that employers may need to take urgent action to reassure and retain talented staff. The data also found that 34% of females are also struggling with job insecurity.
The report, which surveyed over 1900 workers in Singapore, also shows that 61% of male workers will consider moving to an industry that is less likely to be affected by economic uncertainty. When it comes to age groups, employees between the ages of 25 to 34 feel the most vulnerable at their jobs at 41.9% compared to other age groups.
The findings come as job cuts form headlines across many sectors, including tech and professional services. Other challenges likely contributing to job insecurity include new and emerging technology such as AI and machine learning, with the impact on current jobs still widely unknown.
Yvonne Teo, Vice President of HR, APAC, ADP, comments, “The higher job insecurity among male workers could point to male figures still being viewed as the primary breadwinners in households. With the spate of layoffs at high-profile companies and talk of AI replacing people’s jobs, workers are bound to be feeling concerned about their job security.”
“It is also worth noting that employees’ perception of job security may not be reflective of the actual financial or automation state of the company, so it is important for employers to continuously build trust; assure their staff that they are valued; that their efforts are recognised and provide development opportunities to prepare for the future, both from the workers and employers’ perspectives,” she added.
When it comes to job security across industries, the People at Work report shows that workers in the media/information industry are most likely to say they do not feel secure in their jobs (50%), followed by those working in construction (48%).
Yvonne Teo continues, “In fact, workers must embrace and accept that AI and machine learning will be common fixtures in the workplace. To stay relevant in the workplace, it is vital for workers to commit to lifelong learning, upskilling and reskilling.”
“By supporting workers in their training and development requirements, building trust in the workplace, and ensuring an inclusive, engaging workplace culture, workers are likely to feel much more positive towards the company they work for.”
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