Global Talent Is Ready to Embrace Reskilling Amid GenAI Advances

• A New Report from BCG, The Network, and The Stepstone Group Based on a Survey of More Than 150,000 Respondents in 188 Countries Reveals Shifting Workplace Priorities and Preferences
• Three-Quarters of Respondents Believe GenAI Will Create Some Level of Disruption, and 57% Are Willing to Reskill
•  Workers Report Confidence in Navigating the Changing Labor Market

BOSTON and DÜSSELDORF, Germany, June 13, 2024 /PRNewswire/ -- Three-quarters of workers around the world believe GenAI will bring some level of disruption to the workplace. But despite uncertain times, they remain confident about their place in the labor market: 57% of them are ready to retrain into new roles to stay ahead in their careers, and 64% feel they hold the upper hand when negotiating for jobs.

These are among the findings of a new report published today by Boston Consulting Group (BCG), The Network, and The Stepstone Group. Titled How Work Preferences Are Shifting in the Age of GenAI, the study is based on survey data from more than 150,000 workers from 188 countries and is the second installment in the 2024 edition of the Decoding Global Talent series, the previous editions having been published in 2014, 2018, and 2021.

The findings of the study underscore the proactive approach workers are taking in response to the potential impacts of GenAI. By prioritizing reskilling and development, they are not only preparing to adapt to technological changes but also expressing confidence in their ability to thrive in an evolving labor market. This adaptability is key to maintaining a robust and resilient workforce in the face of ongoing technological advances.

"We are seeing a rapid evolution and maturing of employee views toward AI, and a crucial recognition that a commitment to continuous reskilling will ensure long-term employability," said Jens Baier, managing director and senior partner at BCG and leader of the firm's work in HR excellence.

Globally, workers are also clear about what they don't want—54% would refuse an attractive job offer if they had a bad experience during the interview process. The importance of the recruitment process is underscored by the fact that a negative experience during recruitment is the second-most-significant dealbreaker in North America and Europe. Additionally, 40% of workers say they won't work for companies that don't offer mental health support or that have a perceived negative impact on society.

"AI offers a unique opportunity to transform recruitment through innovative, technology-driven processes. Moreover, AI has the potential to substantially enhance skill development and foster a genuinely human-centric workplace," said Sebastian Dettmers, CEO of The Stepstone Group. "This evolution will streamline operations, removing redundant tasks and significantly aiding individuals in securing the ideal job."

Interestingly, the impact of AI disruption is evident in what global talent desires in an ideal workplace. Job security was the most important factor for workers in East Asia and South Asia, particularly among those who perceived AI to have a greater impact on their future work. Learning and development topped the list for the Middle East and North Africa, sub-Saharan Africa, and Latin America, highlighting a strong desire to adapt, progress, and upskill in an evolving landscape. The highly competitive labor markets of recent years and the strong bargaining position of workers are reflected in financial compensation being the top priority for North Americans and work-life balance for Europeans.

"In a tight labor market where talent remains a critical and scarce resource, it is important that employers attract talent from various sources and channels," said Sacha Knorr, co-managing director at The Network. "Reskilling existing employees, recruiting internationally, or looking at talent with unusual backgrounds are all solutions they should increasingly consider."

Download the publication here.
More insights about the survey here.

Media Contacts:
BCG: Eric Gregoire—[email protected]
The Network: Bojan Divčić—[email protected]
The Stepstone Group: Frank Brandmaier—[email protected]

About the Survey
BCG, The Network (together with its affiliate organizations), and The Stepstone Group conducted this anonymous online survey from October through December 2023. All told, 150,735 people in 188 countries participated.

The survey elicited respondents' preferences at work and their perception of GenAI and its impact. It covered topics such as evolving work preferences and attitudes, factors that might lead respondents to reject an attractive job offer, the extent to which they have adopted and now use GenAI in professional and personal contexts, perceptions of GenAI's impact on their jobs, and willingness to reskill to remain competitive. The data gathered in the survey—including a wide variety of information on participants' demographic and professional backgrounds—enabled us to analyze workers' attitudes on the basis of multiple parameters.

BCG also conducted follow-up interviews with select study participants around the world—many of whom were interviewed before and have been followed for several years.

About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

About The Network
The Network is a global alliance of more than 70 leading recruitment websites committed to finding the best talent in over 150 countries. Founded in 2002, The Network has become the global leader in online recruitment, serving more than 2,000 global corporations. The recruitment websites in The Network attract almost 200 million unique visitors each month. For more information, please visit www.the-network.com.

About The Stepstone Group
The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 130 million job applications with around 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2023, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries—including Stepstone in Germany, Appcast in the US, and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs around 4,000 people worldwide. For more information: www.thestepstonegroup.com/en.

SOURCE Boston Consulting Group (BCG)