- Almost half (45%) of workers say their workload has increased
significantly in the past year, as almost two-thirds (62%) say the
pace of change at work has increased over the same time
- More than one-quarter (28%) say they are very or extremely
likely to switch employer in the next 12 months – a higher
proportion than during the 'Great Resignation' (19%) in 2022
- Employees prioritise skills-growth: fewer than half (46%)
strongly or moderately agree that their employer provides adequate
opportunities to learn new skills. This is particularly important
for workers considering leaving: two-thirds (67%) say opportunities
to learn new skills are a key factor in any decision to
job-switch
- More than 80% of workers who use generative AI daily expect it
to make their time at work more efficient in the next 12 months.
Half (49%) of all users expect it to lead to higher salaries
- Cost-of-living pressures ease slightly: the proportion of
workers with money left over each month rises to 45% (compared to
38% in 2023). However, 52% say they are still financially
stressed
LONDON, June 25,
2024 /CNW/ -- Among more than 56,000 workers across
50 countries and territories, many say they are prioritising
long-term skills growth to accelerate their careers amid rising
workloads and heightened workplace uncertainty, according to PwC's
2024 Global Workforce Hopes & Fears Survey, published
today.
In the last 12 months, workers say they have experienced rising
workloads (45%) and an accelerating pace of workplace change.
Nearly two-thirds (62%) say they have experienced more change at
work in the past year than the 12 months prior, with two-fifths
(40%) noting their daily responsibilities have changed to a large
or very large extent. Almost half (44%) don't understand the
purpose of changes taking place.
In the midst of this growing mix of employee pressures, the
findings suggest workers are alert to opportunities elsewhere, and
are highly focused on skills growth and embracing AI.
More than one-quarter (28%) say they are likely to switch
employer in the next 12 months, a percentage far higher than during
the 'Great Resignation' (19%) of 2022. Two-thirds (67%) of those
considering moving say skills is an important factor in their
decision to stay with their current employer or switch to a new
one.
Carol Stubbings, Global Markets
and Tax & Legal Services (TLS) Leader, PwC UK, said:
"As workers face heightened uncertainty, rising workloads and
continue to face financial stress, they are prioritising skills
growth and embracing new and emerging technologies such as GenAI to
turbocharge their growth and accelerate their careers. The findings
suggest that job satisfaction is no longer enough. Employees are
placing an increased premium on skills growth in a climate
characterised by constant technological change. Employers must
ensure they are investing in their employees and technological
platforms to mitigate employee pressures and retain the brightest
talent."
Workers embrace AI to ease workplace pressures and unlock
personal growth
As employees face heightened workplace pressures, they are also
turning to new and emerging technologies such as generative AI
(GenAI) to help. Among those employees who use GenAI daily, 82%
expect it to make their time at work more efficient in the next 12
months.
Employees are also optimistic about opportunities for GenAI to
support their growth. Half (49%) of all users expect GenAI to lead
to higher salaries – an expectation that's even higher (76%) among
employees who use the technology daily. More than 70% of users
agree that GenAI tools will create opportunities to be more
creative at work (73%) and improve the quality of their work
(72%).
The skills imperative
Workers are placing an increased premium on skills growth to
mitigate their concerns and accelerate their careers. Employees who
say they are likely to switch employers in the next 12 months are
nearly twice as likely to strongly consider upskilling in that
decision than workers planning to stay (67% vs. 36%). This comes as
fewer than half (46%) of all employees moderately or strongly agree
that their employer provides adequate opportunities to learn new
skills that will be helpful to their careers.
Employees who are likely to leave in the next year may be more
attuned to skills changes that are needed than the general
workforce, with 51% moderately or strongly agreeing that the skills
their job requires will change in the next five years (vs. 29% of
those unlikely to change employer).
There is particular interest in the impact of AI on skills
development, with 76% of all users expecting it to create
opportunities to learn new skills at work. However, employers will
need to invest heavily in new and emerging technology training and
access. Among employees who have not used GenAI at work in the last
12 months, one-third (33%) don't think there are opportunities to
use the technology in their line of work, while 24% don't have
access to the tools at work, and 23% don't know how to use the
tools.
Despite the pace of change, there are also signs of optimism and
engagement at work. 60% of workers expressed at least moderate job
satisfaction (up from 56% in 2023) while more than half (57%) of
employees who view fair pay as important agree that their job is
fairly paid. Cost-of-living pressures have slightly eased since
2023 (the proportion of workers with money left over each month has
risen to 45%, up from 38%). However, more than half (52%) say
they are still financially stressed to some degree.
Pete Brown, Global Workforce
Leader, PwC UK, said:
"Technology is fundamentally transforming the way work gets
done and the types of skills employers are looking for. Employees
are therefore placing an increased premium on organisations that
invest in their skills growth so that they can stay relevant and
thrive in a digital world. Businesses in turn must be proactive in
their upskilling programs - prioritising the employee experience
and being transparent. Because when you meaningfully engage your
workforce, they become an accelerant for successful
transformation."
Notes to Editors:
About the Survey
In March 2024, PwC surveyed 56,600
individuals across 50 countries and territories who are in work or
active in the labour market. The sample was designed to reflect a
range of industries, demographic characteristics and working
patterns. You can read the full report on pwc.com.
About PwC
© 2024 PwC. All rights reserved. PwC refers to the PwC network
and/or one or more of its member firms, each of which is a separate
legal entity. Please see www.pwc.com/structure for further
details.
Contact:
Imran Javaid, Global Corporate
Affairs and Communications, PwC UK:
imran.javaid@pwc.com
Dan Barabas,
Global Corporate Affairs and Communications, PwC UK:
dan.barabas@pwc.com
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SOURCE PwC