Amrita writes, "I am currently on a valid H1B visa but my husband's employer has decided to sponsor him for permanent resident status. Obviously, family sponsorship is automatic in that case, and I am wondering how my situation will change with this change."
You can continue to work as if nothing has changed for you as long as your H1B is valid. If your green card is not approved prior to this, you will need to make sure that you are always in status by either extending your H1 or getting advanced parole, along with a valid EAD (USCIS I-765). This will enable you to travel as well while your application is pending. Once your GC is approved, just let your employer know about the adjustment of your status.