42% of male workers, which translates to over four in 10, lack job security, highlighting a potential need for employers to promptly address this concern in order to reassure and retain valuable employees. 

The recent report by Global Workforce View also disclosed that the job insecurity is also affecting 34% of female workers.

61% of male workers are contemplating a shift to industries less susceptible to economic uncertainty. In terms of age demographics, employees aged 25 to 34 experiences the highest vulnerability in their job security, standing at 41.9%, surpassing other age groups.

These findings emerge in a climate where workforce reductions are making headlines in numerous industries, encompassing technology and professional services. Additional factors exacerbating job insecurity encompass the emergence of novel technologies such as AI and machine learning, the effects of which on existing job roles remain largely uncertain.

Commenting on the same, Yvonne Teo, Vice President of HR, APAC, ADP, said, “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.”

Regarding job security in various sectors, the findings from the People at Work report indicate that employees within the Media/Information field are the most prone to expressing a lack of job security (50%). Following closely are workers in the Construction sector (48%).

Yvonne Teo continued, “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,” she added.