According to the IWG report, due to AI and inflation, India’s Gen Z is creating multiple income sources instead of one job. Young people are adopting ‘portfolio careers’ and gig work for flexibility and financial security so that they can be future ready.
New Delhi [भारत]July 16 (ANI): The impact of Artificial Intelligence (AI), rising living costs, the rise of gig work and the need for greater flexibility are pushing India’s Gen Z generation to create multiple income sources instead of relying on a single employer, according to a report by the International Workplace Group (IWG).
India’s Gen Z generation is entering the workforce at a time when AI adoption, rising cost of living, gig work, flexible workspaces and the stress of urban commuting are all converging, the report said. “Gen Z professionals are rethinking their careers, inspired by flexibility, mastery of AI, and multiple income sources instead of a single linear job,” it says.
The era of AI and ‘portfolio career’
According to the report, Gen Z professionals are increasingly building “portfolio careers” by combining multiple income sources to prepare themselves for the future in an uncertain economic and technology environment. The report found that 55 percent of Gen Z believe AI will reshape their careers. In response, many young professionals are actively developing new skills and diversifying their income sources to remain adaptable as job roles evolve.
Gig economy trend is increasing in India
This trend also coincides with the rapid expansion of India’s gig and platform economy. Citing the NITI Aayog report, ‘India’s Booming Gig and Platform Economy’, the IWG said 7.7 million workers were working in India’s gig economy in 2020-21, with the number expected to grow to 23.5 million by 2029-30. According to the report, portfolio careers, freelance projects and platform-based work are likely to become a more prominent part of India’s employment landscape as young professionals seek greater financial strength and flexibility.
The report also says that the future of work is changing as AI takes over increasingly technical and repetitive tasks, making human capabilities more valuable.
Financial security and reasons for changing jobs
Financial security remains a major factor behind career decisions. Of Gen Z respondents who changed jobs during the past three years, 30 percent said earning a higher salary was their primary motivation, while 43 percent changed roles two to three times during the same period.
Getting support from hybrid work model
The report also highlighted that hybrid and flexible work arrangements are supporting this trend. It found that 24 percent of respondents said hybrid work reduces commute time, allowing them to spend more time on personal projects or additional income sources.
Meanwhile, 20 percent said flexible work allows them to explore new career opportunities without leaving their main job, while 21 percent said it enables them to collaborate with professionals outside their primary industry. According to the report, India’s changing work environment, supported by AI, flexible working and the growing gig economy, is encouraging Gen Z to focus on adaptability and diverse sources of income rather than being dependent on a single long-term employer. (ANI)
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