Indeed-Nasscom Unveil Future of Work 2024 Report: Navigating Jobs, Workforce, and Workplace in an AI-Driven World

Workplace evolution: Hybrid models and the gig economy on the rise

While the future of work remains predominantly hybrid, the return to office is gaining momentum, with the average time spent in the office increasing by 1.2x. Key drivers of this shift include the need for stronger cultural connections, enhanced cross-team collaboration, improved employee engagement, increased leadership interactions, role-specific or customer-driven requirements, and a more immersive learning experience.

Further, there has been a noticeable increase in willingness among both the current and future workforce to embrace the gig model. Approximately 35% of each group expressed openness to gig opportunities, a significant rise from 23% for the current workforce and 28% for the future workforce in the previous year. Key skills driving demand for gig roles in the technology sector include Generative AI & Automation, Information and Cyber Security, Digital Transformation, Solution Architecture, and Data Engineering.

Gen Z and Millennials continue to represent the majority of the tech workforce. Across generations, factors such as brand value and opportunities for learning and growth remain key considerations when selecting an employer. Additionally, job satisfaction, job security, work-life balance, and career growth consistently rank among the top priorities for both generations when deciding to stay with an organization.

Sashi Kumar, Head of Sales, Indeed India said,“Indeed and Nasscom come together, to bring unmatched insights and clarity to critical conversations about the future of work. This partnership highlights the importance of upskilling, embracing hybrid models, and adapting to automation. With nearly 70% of respondents eager to apply new skills in real-world settings, the report underscores the need for organizations to bridge the gap between current readiness and future demands. By combining human creativity with AI-driven innovation, businesses can lead confidently in this new era of work.”

Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at Nasscom, said, “The future of work, workforce, and workplace continues to evolve as organizations embrace a ‘people-centric’ approach, addressing the needs of both current employees and the future workforce. Advancements in technologies, particularly AI and ML, are driving a transformation in the job market, reshaping the skills required—spanning both technical expertise and analytical or soft skills. Technology companies must implement policies and processes that are not only aligned with the changing dynamics but also adaptable to the continuous evolution of the workforce landscape.”