Continuing significant resignation, one in five likely to change job: PricewaterhouseCoopers

big resignation It is set to continue, according to a new global survey by PricewaterhouseCoopers, where one in five said they were likely to do so. switch jobs In the next twelve months.

PricewaterhouseCoopers launchedGlobal Workforce Hopes and Fears Survey 2022” In the World Economic Forum In Davos on Tuesday, it surveyed more than 52,000 workers in 44 countries.

In a press release, the consultancy said higher wages, increased job fulfillment and a desire to be “really themselves” at work are the factors driving workers to change jobs.

About 35% of survey respondents plan to ask their employers for more money in the next 12 months.

“The results are very clear…you see a large number of employees worried about their future employment and their job security,” Bob Moretz, global head of PwC, said at the forum.

However, “power is now, we argue – in the hands of working individuals.”

polarized workforce

Other survey results indicate more differences in the workforce:

  • 70% of those with rare skills are satisfied with their work, compared to 52% of those with non-rare skills.
  • Women are 7 percentage points less likely than men to say they were fairly compensated, but 7 percentage points less likely to ask for a raise.
  • Women are 8 percentage points less likely to feel that their managers listen to them.
  • Generation Z workers (aged 18-25) are less satisfied with their jobs and twice as likely as baby boomers (aged 58-76) that technology will replace their roles in the next three years.

With tight job marketWhat is most important is for organizations to take a “human-led, technology-enabled approach,” said Carol Stabbings, global tax and legal services lead at PricewaterhouseCoopers.

“This means investing in both digital transformation and in skills…with a focus on enhancing the capabilities of skilled employees, providing access for those who lack skills and automation that frees people to do what only people can do.”

Achieving the job is ‘just as important’

More money is the biggest driver of a job change, yet finding fulfillment at work is “just as important,” according to PwC.

About 71% of survey respondents said that a wage increase would prompt them to change jobs, yet 69% said they would change employers in order to achieve better jobs as well.

They are also concerned with making sure that … the work is beneficial not only to the strategy of the organization, but also to the purpose of that organization.

Bob Moretz

Global President, PricewaterhouseCoopers

“Rewarding” [work] It should be defined in new and different ways, said Moretz, “Employees are looking for changes in this business, especially when you think about how automation can help reduce the monotony and some of the routine types of things that they do.”

“They are also concerned with making sure that … the work is beneficial not only to the strategy of the organization, but also to the purpose of that organization.”

Workers want a workplace that allows them to be themselves too, with 66% of those surveyed citing this as an important factor.

said Bhushan Sethi, associate president of Global People and Organizations Services at PricewaterhouseCoopers.

“Workers, particularly younger ethnic minorities, feel the benefits of engaging in respectful and tolerant conversations,” Sethi said.

While higher wages remain the biggest driver of a job change, finding fulfillment at work is “just as important,” says PwC.

Thomas Barwick

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