Last Updated on: 22nd November 2023, 07:56 am
According to the latest study titled “How the STEM World Evolves” by STEM staffing specialists SThree, professionals in the field are prioritizing job security over pay raises and benefits. The study reveals that more than half (53%) of STEM professionals consider job security as a key concern, with only 16% disagreeing.
STEM professionals are placing importance on flexibility in work arrangements, a sense of purpose, and opportunities for upskilling rather than attractive salaries and benefits. In fact, 81% of respondents indicated that personal purpose at work is a significant driving factor.
The study also highlights concerns among STEM professionals about the impact of AI and automation, with 34% expressing fear of job loss due to these technologies.
SThree’s market study, conducted in collaboration with insight specialists IntelliSurvey, emphasizes that STEM professionals have diverse demands beyond financial incentives. Job security and flexibility have taken precedence over pay raises, with 53% considering job retention more important. Additionally, 50% prioritize career-developing projects over higher earnings, and 63% believe that the ability to continue working flexibly will significantly impact their careers.
Timo Lehne, CEO of SThree, commented on the study, stating that employers in STEM industries need to proactively address these evolving expectations to attract and retain skilled talent. The study also highlights workplace wellbeing as a growing concern, with 28% of professionals expressing increased worries in this area. The fear of AI and automation is particularly notable among younger professionals, with 44% expressing vulnerability.
Given the aging workforce in STEM, knowledge transfer becomes crucial, as 33% of professionals aged 30-39 are likely to seek new opportunities in the next 12 months, compared to only 14% among those aged 50-65.
To access the full report of the study, visit www.sthree.com.
