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Thursday, July 18, 2024

Job Security Takes Priority Over Pay Rise for STEM Professionals, Reveals New Study

A recent study conducted by STEM staffing specialists, SThree, titled “How the STEM World Evolves,” has shed light on the shifting priorities of STEM professionals. The findings indicate that job security is of paramount concern for professionals in the field, with more than half (53%) preferring to retain their current roles rather than seek pay raises. The study also highlights other factors that hold greater importance for STEM professionals, including flexibility in work arrangements, a sense of purpose, and opportunities for upskilling.

According to the study, 81% of respondents consider personal purpose at work as a key driver, emphasizing the significance of finding meaning in their roles. Furthermore, there is a level of apprehension among STEM professionals regarding AI and automation, with 34% expressing concerns about potential job loss.

The study also points out the emerging concern around workplace wellbeing, with 28% of STEM professionals expressing increased worries about their overall wellbeing. In terms of age demographics, younger professionals feel particularly vulnerable, with 44% expressing their apprehension about the impact of AI and automation on their careers.

As the workforce ages, knowledge transfer becomes a critical aspect, as the study reveals that professionals aged 30-39 are more likely (33%) to seek new opportunities in the next 12 months compared to those aged 50-65 (14%).

Timo Lehne, CEO of SThree, emphasized the need for employers in the STEM industry to proactively address these evolving expectations to attract and retain skilled talent. The study serves as a valuable resource for employers to understand and adapt to the changing priorities of STEM professionals in order to remain competitive in the candidate-driven market.

For further insights, access the full report at www.sthree.com.

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