This story was originally published on June 25, 2024..
The grand resignation decisions of the pandemic years may need to wait.
More people are now considering their options as they feel overworked and underpaid amid continued cost pressures.
Employees are feeling so disengaged from work that more people are considering quitting in 2022 than we have mass resignations, auditor PwC found. Global Workforce Hopes and Fears Survey Published earlier this year, it covers more than 56,000 workers worldwide.
In the report, nearly half of its respondents are millennials, followed by Gen X and Gen Z employees, with a staggering 28 percent increase in the number of people planning to change jobs, while the Great Resignation in 2022 It was 19 percent.
Their reasons? Heavy workloads, career ambitions, and new technology are mixing in the workplace.
Almost half of those surveyed said their workload had increased “significantly” in the past 12 months. Workers are also worried about how much they are being paid, with 43 percent keen to demand a pay rise. That’s not all: 62% of employees feel that the pace of change in the workplace has also increased over the same period, especially as they have had to adapt to new tech tools in their jobs and increased financial pressures. has happened
To add to the mix, employees’ personal goals to expand their skill sets and advance their careers are also prompting them to consider jumping ship.
Overall, most workers feel better about moving into a new role, hoping for some respite.
Carol Stubbings, PwCUK’s global markets and tax and legal services leader, said, “Workers around the world are increasingly prioritizing long-term upskilling and looking to organizations that offer them this facility. I can help.” good luckEmerging technologies such as generative AI and its applications at work are front and center for employees, he added.
“Ultimately, employees will be seeking to switch for a variety of reasons, many of which will depend on their unique circumstances and the broader trends facing their geography, industry and role.”
Other studies on this topic have indicated similar results. For example, a LinkedIn and Microsoft survey published earlier this year that covered 31,000 people worldwide revealed that an even higher number of people in the coming year compared to the pandemic. Most were inclined to quit their jobs.
Europe and its growing pool of leavers
The Great Resignation may have taken place in America, but the Europeans were not spared. Countries such as France and Germany have also faced problems with their employment, pay and benefits over the past few years.
Even in the UK, more workers have considered leaving their jobs during the pandemic. The workers’ discontent comes at a time when interest rates and the cost of living have soared, forcing many of them to consider looking for greener pastures. It doesn’t help that employees are also quietly leaving the workplace and abandoning their jobs, affecting their productivity.
“It is imperative that leaders prioritize well-being as a core value and key enabler of performance within their organization. Over-stressed and engaged workers are less likely to perform well,” the PwC report said. .
These trends point to the continuation of the Great Resignation. The only difference? We’ve moved from an era of lockdowns and remote working that is relatively “normal” but still presents new challenges.
AI is one of them in the PwC report. Such platforms can help increase efficiency, making them invaluable in the workplace of the future.
Most CEOs think tech is the reason for new changes at work, but few employees regularly use AI-powered generative tools. That doesn’t mean they aren’t optimistic about AI, Stubbins said.
The study found that 72 percent of respondents who are casual AI users believe the technology will improve the quality of their work, while half of them believe it will increase salaries.
Statistics show that the reason for employees to look elsewhere is that most of those who leave their jobs regret their decision.
But will it stop the growing pool of workers considering quitting? Probably not. However, PwC recommends that managers help employees navigate the difficult balance between all the changes in the workplace and not feel swamped.
“Companies need to create guidance and direction about the types of skills that employees need to develop. It’s also important to create a culture of learning, where freeing up learning opportunities is part of the organization’s DNA. ” PwC said in its report.
