94% of employees recognize the indispensability of psychological safety, while 79% of employers prioritize cultivating a safe environment. This was found by research carried out by Gi Group Holding India, a human capital solutions and services, for its third report on ‘The Safety Net: Supporting Employee Well-being with Psychological Safety 2023‘. This research surveyed over 500 employer responders and over a thousand employee respondents across six major cities in India: Bengaluru, Chennai, Kolkata, Mumbai, NCR, and Hyderabad. The report covers key sectors such as Auto, BSFI, Consumer durables, FMCG, E-commerce, Health, IT/ITES, and Retail, spanning organizations of varying sizes.
The latest research highlights the crucial role of psychological safety in workplaces, revealing its impact on employee satisfaction, mental health, innovation, talent attraction, and retention. According to the survey, 94% of employees recognize the indispensability of psychological safety, while 79% of employers prioritize cultivating a safe environment. The study emphasizes that 74% of employees believe a psychologically unsafe workplace can harm mental health. While 57% of employers are familiar with psychological safety, a minor group of 35% of employees share the same awareness, underscoring the need for increased communication and education. Younger workers aged 26-45 display the highest recognition at 96%, compared to 86% for those aged 46 and older. Smaller organizations (98%) lead in recognizing psychological safety, followed by medium-sized (95%) and large organizations (88%).
Emerging trends in the employment sector:
As per trends, the employment sector is experiencing transformative changes driven by emerging futuristic additions. By examining these trends, the report provides valuable insights into the evolving employment landscape and its implications for both employers and employees.
● According to sources, trends such as the adoption of remote and flexible work arrangements are leading to a paradigm shift in traditional work models. Companies are increasingly embracing flexible arrangements, allowing employees to work from anywhere, which improves work-life balance and broadens talent pools.
● There is an increased emphasis on digital skills and upskilling. The digital revolution has created a demand for specialized skills, such as data analytics, artificial intelligence, and cybersecurity. To remain competitive, individuals and organizations must invest in continuous learning and upskilling to meet the evolving demands of the digital economy.
● The integration of artificial intelligence and automation is becoming an integral part of the employment landscape as technology advances.
● There is also an increased focus on diversity, equity, and inclusion. Companies are recognizing the value of diverse and inclusive workplaces, not only from a social standpoint but also as a driver of innovation and performance. Employers are actively implementing strategies to promote diversity, ensure equal opportunities, and foster inclusive cultures.