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PwC survey: ‘Great Resignation’ of workers is set to continue as pressure on pay mounts

comment pwc workers who look for a new employer in the next 12 months are not satisfied with their current one
Workers who look for a new employer in the next 12 months are not satisfied with their current one

Global workforce appears divided, while those lacking skills also lack clout in the workplace

By PwC

The ‘Great Resignation’ will continue apace in the year ahead as one in five workers say they are likely to switch to a new employer in the next 12 months. That was a key finding from PwC’s Global Workforce Hopes and Fears survey of 52,195 workers in 44 countries and territories – one of the largest ever surveys of the global workforce. The survey finds that 35 per cent are planning to ask their employer for more money in the next 12 months. Pressure on pay is highest in the tech sector where 44 per cent of workers surveyed plan to ask for a raise and is lowest in the public sector (25 per cent).

While an increase in pay is a main motivator for making a job change (71 per cent), wanting a fulfilling job (69 per cent) and wanting to truly be themselves at work (66 per cent) round out the top three things workers are looking for. Nearly half (47 per cent) prioritised being able to choose where they work. Workers who are likely to look for a new employer in the next 12 months are not satisfied with their current employer.

The survey found that 65 per cent of workers discuss social and political issues with colleagues frequently or sometimes, with the number higher for younger workers (69 per cent) and ethnic minorities (73 per cent). Only 30 per cent of employees say that their company provides support to help them work effectively with people who share different views.

Half of workers (53 per cent) felt it was important that their employer is transparent about their impact on the environment, two-thirds (65 per cent) felt transparency about health and safety was critical, with transparency about economic impact not far behind at 60 per cent, followed by diversity and inclusion efforts at 54 per cent.

Women were 7 points less likely than men to say they are fairly rewarded financially and 7 points less likely to ask for a raise. Women were also 8 points less likely to ask for a promotion, and that request is more likely to fall on deaf ears – as women are 8 points less likely than men to feel their manager listens to them. There were also significant differences between generations, with Gen Z workers less satisfied with their job and twice as likely as Baby Boomers to be concerned that technology will replace their role in the next three years.

Lastly, 45 per cent of respondents said their job could not be done remotely. Of those who say their job can be done remotely:

  • 63 per cent say they prefer some mix of in-person and remote working – the same proportion who said they expect their employer to offer that mix for at least the next 12 months
  • 26 per cent of employees would prefer full-time remote work, but only 18 per cent say their employers are likely to adopt that model
  • Another 18 per cent say that their employers are likely to require full-time in-person work, which just 11 per cent of employees prefer.

 

The report can be found here

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