future proofing skill sets is key to higher pay.

While employee expectations continue to shift, our latest Randstad Workmonitor report shows that salaries remain the number one motivator when selecting roles. In fact, more than half of respondents list salaries as the most important factor when choosing a new role. This fact should come as no surprise because workers have consistently ranked salaries as their number one motivator.

The difference now is that today’s employees realize they must develop skills for the future of work to ensure they have careers with continuing wage growth. We know from previous surveys that workers believe the onus is on the employers to help their employees acquire these vital skills through learning, training and development programs.

Workers are ready, willing and even excited to acquire new skills. This is especially true for  skills related to AI, IT and technology. It’s up to employers to jump on this growing trend and provide employees with the training and development programs they want.

Keep reading to learn more about how future-proofing skills can lead to higher wage growth.

multi-generational desire for continuous wage growth

According to our survey of more than 1,600 workers across nearly 20 different industries, the desire for continuous wage growth is not limited to just one age group. Rather, our research shows that a majority of respondents in every working age group, from Gen Z  to baby boomers, rank pay as as the top motivator for changing jobs.

Additionally, today’s workers understand that to see continued advancement and salary growth in their careers, they must develop skill sets for the future of work. After all, many of these workers have seen firsthand how technology and automation have replaced various tasks and roles in the workplace. They also realize that this trend is not expected to slow down any time in the near future.

To ensure their future employability and secure a place within your organization, workers know they must develop skills needed for the future of work. According to our survey, workers identify the most critical areas for learning and development as digital, technology and Artificial Intelligence (AI).

the role of AI in the workplace

From virtual assistants to ChatGPT to predictive analytics, AI is changing the way of work in companies across the country. For some workers, such as call center workers, sales teams and recruiters, the use of AI has become part of their daily life. For others, the shift to AI technology is not so apparent. Either way, workers recognize the power of AI and how it can transform roles in the future and even make some positions obsolete.

According to our Workmonitor survey, 51 percent of respondents believe AI will impact their industry and role in some way. While 42 percent of these respondents are excited about the opportunities AI may bring to their workplace, more than one-third have concerns about how this technology could impact their role.

Despite this level of excitement, as well as concern, employers are still failing to provide their workers with adequate upskilling and reskilling opportunities pertaining to AI. More than half of the respondents to our survey believe they need more learning and development opportunities around AI to future-proof their skill set and increase their earning potential. This disappointment from employees is noticeable from all age groups, including 45 percent of Gen Z workers and more than half of Millennials (57%) and Gen X workers (54%).

Don’t miss this huge opportunity to jump on your workers’ excitement for AI in the workplace while simultaneously alleviating some of the concerns others have. Instead, offer more AI training and development opportunities in the workplace.

advancing skills to manage new technologies

Advancements in technology are occurring so rapidly that businesses across industries are struggling to keep up with the latest innovations. It takes time to implement new technologies, and there's a cost investment to consider.

Today’s workers understand these challenges because they are struggling to keep their skill sets up to date too. Our report shows that many workers believe tech skills will be vital to their jobs over the next 5 years, including 46 percent of Gen Z workers, 57 percent of Millennials and 51 percent of Gen X workers.

Ultimately, workers worry that if they don’t acquire the tech skills needed for the future of work, they will lose their position, see their salaries remain stagnant, or even fall, and have a hard time advancing their careers. On the other hand, employers worry about acquiring the right skills to implement and manage these new technologies properly.

developing a win-win learning and development strategy

Investing in learning and development programs pertaining to emerging technologies and AI can be a win-win for employers and employees.

Your organization can use upskilling and reskilling strategies to equip your workers with the skills needed to handle their current roles and prepare for the future of work. This type of investment can help your company narrow the skills gap by equipping your current workers with the skills they need in the upcoming years.

This step can improve worker satisfaction, boost retention rates and cut hiring costs. Most importantly, it ensures that your organization has the skills in place to implement new technologies as needed and remain competitive in today’s fast-paced markets.

Employees can take full advantage of these learning and development opportunities to advance their IT, AI and tech skills. These programs can help build on the excitement many employees have about the prospects of AI and tech in the workplace. It can also help to alleviate some of the stress workers have about their future careers and earning potential.

Now is the time to take action and implement a learning and development program to equip your workers with the skills of the future.