The adoption of generative AI in workplaces has surged worldwide, reaching 75 per cent in 2024, according to EY’s latest global survey.
This represents a significant jump from 22 per cent in 2023, dramatically reshaping productivity and skills development.
However, rising resignation intent among Gen Z and Millennials points to emerging challenges.
Conducted with 17,350 employees and 1,595 employers across 23 countries and 27 industry sectors, EY’s ‘Work Reimagined Survey 2024’ reveals that the technology sector leads in GenAI adoption at 90 per cent, while public sector and government services trail at 60 per cent.
With GenAI continuing to reshape the technology landscape, more than a third of employees report gains in productivity (37 per cent) and improved focus on high-value tasks (36 per cent).
Moreover, the survey highlights the link between GenAI adoption and skill development.
Among employees using GenAI, 58 per cent rate their organisation’s training programs as “above average” or “excellent.”
Nevertheless, a notable generational gap is evident, as millennials are over three times more likely than baby boomers to use advanced technology in their roles.
Increasingly, employees are prioritising factors beyond traditional career paths. Many now seek better pay (81 per cent), improved working conditions and career growth (79 per cent), quality leadership (76 per cent), and flexible remote work options (75 per cent).
The survey points out the critical role of “talent health and flow”—which entails retention, attraction, and engagement—as key elements in aligning business strategies with successful outcomes.
EY’s data further emphasises that 38 per cent of employees are considering leaving their jobs within the next year, with Gen Z and millennials leading this trend.
In fact, these groups are 1.8 times more likely to resign than baby boomers, with men also slightly more inclined to quit than women.
Panayiotis Thrasyvoulou, Head of People Advisory Services at EY Cyprus, explained that “the rapid adoption of AI by organisations, as well as the increasing intent to resign by Gen Z and Millennials, is dramatically reshaping the work landscape globally”.
“The bet that employers are called upon to win is to manage to attract and retain talented executives in their organisation,” he added.
The survey outlines five essential pillars for organisations seeking a “talent advantage”, health and talent flow, work technology and GenAI, total rewards priorities, learning and career paths, and workplace culture.
Companies investing in these areas report productivity gains nearly seven times higher, and six times stronger performance amid today’s economic conditions, though nearly 70 per cent of employers are yet to achieve this advantage.
“Organisations that adapt to the new employment landscape, focusing on favourable working conditions, the flexibility of remote working and higher salaries and incentives, will succeed in becoming top talent destinations,” Thrasyvoulou added.
“Such organisations will see significant benefits for their productivity and growth,” he concluded.
