Global worker discontent rises, fueling Great Resignation 2.0 – PwC survey
LONDON, UNITED KINGDOM — A new survey by PwC reveals that more workers are considering changing jobs compared to the height of the “Great Resignation” in 2022, as they grapple with increased workloads and an accelerating pace of change in the workplace.
The 2024 Global Workforce Hopes and Fears Survey gathered insights from over 56,000 workers across 50 countries in March 2024. It found that 28% of respondents are likely to switch employers in the next 12 months, up from 19% in 2022.
Workload and change drive job dissatisfaction
Nearly half of the surveyed workers (45%) reported a significant increase in their workload over the past year.
Additionally, 62% of respondents said they experienced more changes at work in the past year compared to the previous 12 months. This rapid pace of change has left many employees feeling overwhelmed, with 44% stating they don’t understand the purpose behind these changes.
“Job satisfaction is no longer enough. Employees are placing an increased premium on skills growth in a climate characterised by constant technological change,” said Carol Stubbings, Global Markets and Tax & Legal Services Leader at PwC UK.
“Employers must ensure they are investing in their employees and technological platforms to mitigate employee pressures and retain the brightest talent.”
Skills growth and AI adoption at the forefront
Workers are increasingly focused on long-term skills growth and are embracing artificial intelligence (AI) to enhance their careers.
Among employees who use generative AI daily, 82% expect it to make their work more efficient in the coming year. Furthermore, half of all AI users anticipate it will lead to higher salaries.
🆘 Workers around the globe are feeling overwhelmed with workplace change and uncertain about job security. However, there are also signs of optimism.
Learn how leaders can build a resilient workforce in our Global Workforce #HopesAndFears Survey 2024: https://t.co/dKU9VkRwpj pic.twitter.com/bwjWkIx546
— PwC (@PwC) June 26, 2024
Pete Brown, Global Workforce Leader at PwC UK, emphasized the importance of upskilling: “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.”
Regional variations in job dissatisfaction
In Europe, particularly in France, Germany, and the UK, a growing number of employees are considering quitting their jobs due to dissatisfaction with pay, benefits, and the rising cost of living.
A new Gallup study also reveals that the UK economy lost over £257 billion (US$326 billion) in potential output last year due to disengaged workers or “quiet quitters,” affecting the country’s ongoing productivity crisis.
The trend is mirrored in the U.S. and is becoming more pronounced post-pandemic, transitioning from remote work challenges to “normal” yet complex new realities in workplace environments.
Employers must prioritize employee experience
The ongoing shifts underscore a crucial period of adjustment where employee aspirations for better compensation, career growth, and work-life balance are clashing with evolving job roles and technological integration.
PwC suggests enhancing skills training and fostering a culture of learning and adaptability to navigate these turbulent times effectively.
“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,” Brown added.
