71% Indian professionals sure of retaining jobs in 2023 despite global layoffs

About seven in 10 (71 per cent) professionals in India are confident about keeping their jobs in 2023 despite the rough macroeconomic conditions and global layoffs, a report showed.

There is a stark difference in the confidence levels of freshers and entry-level professionals and the ones with more than six years of experience.

While 63 per cent of professionals with 0-3 years of experience are confident about retaining their job, this number jumps up to 83 per cent for professionals with more that six years of experience, according to the report by edtech company Great Learning.

"With a tighter job market in 2023, skill development will be as critical as ever. The increase in intent to upskill in 2023 among professionals is expected given how rapidly technology and business practices are evolving," said Hari Krishnan Nair, Co-Founder, Great Learning.

In 2022, 79 per cent of professionals were planning to upskill, while in 2023, that number has risen to 83 per cent. The highest proportion of workforce, who plan to upskill, are from IT/Tech and BFSI sectors, followed by education/training, manufacturing, and automobile industry.

Indians are primarily looking to upskill in software development, data science and analytics, digital marketing, management, and AI/ML domains, said the report.

"In 2023, the primary motivation for Indians to upskill is career growth within their current organisation. This is followed by personal interest and the expectation of new job opportunities as a result of upgraded skills," it added. In general, more male professionals enrolled in upskilling programs in 2022, but the gap in representation becomes more pronounced at higher levels of work experience.

This is even lower than the general industry trend for female representation at senior positions, the report mentioned.