New research from PwC shows that a quarter of global workers are seeking a new job, insinuating that the Great Resignation trend is still with us.
PwC’s Global Workforce Hopes and Fears Survey surveyed nearly 54,000 global workers in 46 countries and territories across the world.
The findings show that 25% of the global workforce are planning to change jobs in the next year, a 19% increase from the previous year.
This is largely down to economic pressures and the cost-of-living crisis as 42% of respondents said they were planning on asking their employer for a pay rise, a 7% increase from last year.
The 'Great Resignation' is a term coined to describe the large mass of global workers who voluntarily left their jobs in the wake of the pandemic. But research shows that many of these workers re-entered the market, suggesting that workers were swapping jobs rather than leaving work altogether.
Many of these workers left their jobs as the pandemic forced them to rethink their careers, priorities and long-term goals. PwC’s new findings suggest that this is still the case, with workers continuing to swap jobs.
The study also found that 46% of respondents were struggling to pay their bills every month, while 38% said they had money left over at the end of the month – down from 47%.
Additionally, one in five workers have multiple jobs with a majority saying they took on more work for additional income. This is another indicator that the majority of global workers are reshuffling predominantly due to economic strain.
Bhushan Sethi, joint global leader of PwC's people & organisation practice, told Reuters: "With the ongoing economic uncertainty, we see a global workforce that wants more pay and more meaning from their work. Purpose, company culture and inclusion also remain key to employee concerns.”
AI developments
Many HR practitioners may be skeptical, or even scared, about the introduction of AI into their workforce. But the survey from PwC highlights that many workers remain optimistic about how AI will impact the workforce.
Among the more financially secure respondents, a third said AI would improve productivity, a quarter said the technology would improve job opportunities, and younger workers were more likely to think AI would have a positive impact on their work in the next five years.
