Saturday, July 2, 2022
News
NEWS HOME
»
PRN INDIA
Survey of over 52 000 workers indicates the Great Resignation is set to continue as pressure on pay mounts
  SocialTwist Tell-a-Friend  
   

Global workforce divided as skilled workers assert their power

  • One in five say they are likely to switch to a new employer in the next 12 months
  • More than a third plan to ask for a raise, but finding fulfilment at work is just as important
  • Skilled employees most likely to ask for promotions and pay raises and to feel listened to by their manager, while those lacking skills lack power in the workplace
  • By a margin of more than 30 points, respondents felt discussing social issues at work has had positive rather than negative impacts on them
  • But, only 30% state their companies provide support to work effectively with people who share different views

LONDON, May 24, 2022 /PRNewswire/ -- The Great Resignation will continue apace in the year ahead as one in five workers say they are likely to switch to a new employer in the next 12 months. That was a key finding from PwC's Global Workforce Hopes and Fears survey of 52,195 workers in 44 countries and territories - one of the largest ever surveys of the global workforce. The survey finds that 35% are planning to ask their employer for more money in the next 12 months. Pressure on pay is highest in the tech sector where 44% of workers surveyed plan to ask for a raise and is lowest in the public sector (25%).

PWC Logo

While an increase in pay is a main motivator for making a job change (71%), wanting a fulfilling job (69%) and wanting to truly be themselves at work (66%) round out the top 3 things workers are looking for. Nearly half (47%) prioritised being able to choose where they work.

Workers who are likely to look for a new employer in the next 12 months are less likely to feel satisfied with their current employer. Compared to those who have no intention of changing jobs, they are:

  • 14 percentage points less likely to find their job fulfilling
  • 11 percentage points less likely to feel they can truly be their self at work
  • 9 percentage points less likely to feel fairly rewarded financially

Bob Moritz, Global Chairman of PwC, said:

"There is a tremendous need for business to do more to improve the skills of workers, while being conscious of the risk of polarisation if opportunities to develop aren't provided right across society. At the same time, workers are not just looking for decent pay, they want more control over how they work and they want to derive greater meaning from what they do. These are linked: by acquiring skills, workers can gain the control over the work they are looking for. Leaders have to adapt to build the teams needed to successfully deal with the challenges and opportunities of today and those yet to come."

Discussions about social issues are an everyday feature of the workplace. Employees are benefiting, despite a lack of support from employers.

The survey found that 65% of workers discuss social and political issues with colleagues frequently or sometimes, with the number higher for younger workers (69%) and ethnic minorities (73%). While business leaders are sometimes nervous about people bringing these potentially polarising issues to work, the impact is net positive. 79% of those who talk about social and political issues at work reported at least one positive consequence from that. With political and social issues alive in the workplace, the job for employers is to create a context which secures the benefits of open conversation while minimising the negative impacts - 41% reported a negative consequence of discussions about social issues. Both numbers were significantly higher for people who consider themselves part of an ethnic minority (84% positive and 59% negative).

These discussions are happening despite little active effort on the part of organisations to help secure positive outcomes. Only 30% of employees say that their company provides support to help them work effectively with people who share different views.

The survey showed that workers have a particular interest in their employer's impact on the economy, climate and society. Half of workers (53%) felt it was important that their employer is transparent about their impact on the environment, two-thirds (65%) felt transparency about health and safety was critical, with transparency about economic impact not far behind at 60%, followed by diversity and inclusion efforts at 54%.

Bhushan Sethi, Co-Leader of PwC's Global People and Organisation services said:

"Diverse workforces will inevitably bring differences of opinion about major societal issues into their workplaces. Leaders need to ensure these discussions can benefit teams rather than dividing them.The role of employers isn't to tell workers what to think, but to give them a voice, choice and safe environment to share feelings, listen and learn about how these issues are impacting their colleagues.   Workers, especially younger and ethnic minorities feel the benefits of engaging in respectful and tolerant conversations."

Skilled employees feel most empowered, increasing workplace inequalities

The survey paints a picture of a workforce polarised on a number of dimensions.

Women were 7 points less likely than men to say they are fairly rewarded financially, but still 7 points less likely to ask for a raise. Women were also 8 points less likely to ask for a promotion, and that request is more likely to fall on deaf ears ā€“ as women are 8 points less likely than men to feel their manager listens to them.

Pete Brown, Co-Leader of PwC's Global People and Organisation services said:

"It is bad for society and bad for business when there is a failure to ensure women have the same opportunities as men to develop their skills and careers. One of the quickest ways to strengthen the workforce is to ensure women are not overlooked - which means addressing the culture, systems and structures that can lead to women losing out."

There were also significant differences between generations, with Gen Z workers less satisfied with their job and twice as likely as Baby Boomers to be concerned that technology will replace their role in the next three years.

One of the most important drivers of polarisation is skills - with large differences between workers who have highly valued skills and those who do not. The data shows that those with in-demand skills (29% of the sample feel they have skills that are in short supply in their country) are more likely to feel satisfied with their job (70% v 52%), feel listened to by their managers (63% v 38%) and have money left over after they pay their bills (56% v 44%).

To close the skills gap, workers say companies are investing in the current workforce through upskilling and increasing wages. By contrast, workers are less likely to report a focus on automating, outsourcing, and recruiting.

Carol Stubbings, PwC's Global Tax and Legal Services Leader said:

"In a tight labour market, it is even more important that organisations take a human-led, tech powered approach. That means investing in both digital transformation and in skills. Investment should be guided by a principle of equity, with a focus on strengthening the capabilities of skilled employees, providing access routes for those who lack skills and automation that frees up people to do what only people can do. It is as much about apprenticeships as graduate recruitment, and requires a commitment to constant upskilling. Targeted investment across the skills mix is good for companies, good for individuals and - because it avoids entrenching disempowerment - good for society."

Other key findings  from the survey include:

  • 45% of respondents said their job could not be done remotely
  • Of those who say their job can be done remotely:
    • 63% say they prefer some mix of in-person and remote working - the same proportion who said they expect their employer to offer that mix for at least the next 12 months
    • 26% of employees would prefer full-time remote work, but only 18% say their employers are likely to adopt that model.
    • Another 18% say that their employers are likely to require full-time in-person work, which just 11% of employees prefer.

NOTES TO EDITORS

  1. In March 2022, PwC surveyed 52,195 individuals 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. The sample was structured across 44 countries and territories and sample sizes were scaled to reflect each territory or region's share of global GDP. They range from 5,000 to 250 with an average sample size per territory of around 1,200.
  2. The age groups in the survey are categorised as Gen Z (ages 18-25), Millennials (ages 26-41), Gen X (ages 42-57), and Baby Boomers (ages 58-76).
  3. The report can be found here.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at  www.pwc.com.

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.

© 2022 PwC. All rights reserved.

Logo -  https://mma.prnewswire.com/media/1121790/PWC_Logo.jpg

More News by PR Newswire India

CGTN: Hong Kong, an East-West culture bridge

CGTN: Hong Kong to start a new chapter after 25 years of prosperity

Harsh Shah joins Azure Power as Chief Executive Officer

TUMI enters official partnership with Tottenham Hotspur

IMG Partners with eMed to Provide Telehealth Proctored COVID-19 Tests to Groups of International Travelers

Petal Maps turns navigation into an immersive and realistic experience

2022 GAC Tech Day Brings a New Wave of Technology

With $2M seed funding, Overtune aim to democratize music creation

CCTV+: New Hong Kong chief executive sworn in

Xinhua Silk Road: Kelan Cashmere Goat Price Index released in N. China's Shanxi

Antaisolar launches new BIPV product, propels zero-carbon transformation of buildings

CGTN: Hong Kong youths embrace brighter future as city integrates into national development

Diageo Reserve to Host the World Class Cocktail Festival in Mumbai: Consumers to Experience a Whole New World of Cocktail Culture

BASF & Permionics join hands to launch high performance face masks

MARATHON DU MONT-BLANC, MORE THAN 2,000 RUNNERS ON THE SLOPES OF EUROPE'S HIGHEST PEAK

CWT launches 'Nashe Se Azadi' anti-drug abuse campaign in collaboration with NCB & Chandigarh Police

GoCardless to acquire open banking platform Nordigen, combining broad open banking connectivity with bank payment expertise

Social network Zorro rebrands as Hood ahead of its US launch

BITS Pilani WILP's MBA in Digital Business to Help Working Professionals Transform Businesses Comprehensively

Yahsat Announces Appointment of Sulaiman Al Ali as Chief Commercial Officer of Yahsat to Drive Next Phase of YahClick and Thuraya Growth

CGTN: 'One Country, Two Systems' ensures Hong Kong's prosperity, stability

Petal Search celebrates incredible growth on its 2nd Anniversary

CGTN: Hong Kong 25 years on: A cultural bond between China and the world

AORUS ELITE is the best go-to motherboard for upgrade

Lummus Digital partners with LACC to develop AI powered Remote Performance Monitoring for Ethane Cracker Unit

StartekĀ® Recognized Among India's Best Companies to Work For 2022 by Great Place to WorkĀ® Institute

Ribbon Wins TIA QuEST Forum Sustainability Award for Excellence in Network Equipment Sustainability

Orange Health, India's Fastest Diagnostic Lab launches in New Delhi

Floraxis Media Group announces winners of the National Dental Service Leadership Award, 2022

Neuromod Publishes Results of Second Large Scale Clinical Trial for Tinnitus in Top-Tier Scientific Journal, Shows Greater Improvement of Symptoms

Leading Electric Vehicle Market, GWM ORA Officially Unveiled at the EVS35 in Norway

Tata AIA Life Is Proud To Support AIA On The ONE BILLION Movement

Xinhua Silk Road: 2022 World Canal Cities Forum held in Yangzhou, east China

'Mera Shehar, Sunder Shehar' campaign on environment protection launched by Chandigarh Welfare Trust along with Chandigarh Tourism

ROCKWOOL, a leading Danish mineral wool products manufacturer that helps address challenges of modern living in a sustainable manner launches its first Customer Experience Center in Dahej, Gujarat, India

ELLE FANNING - THE AMBASSADOR OF FAME, PACO RABANNE'S NEW FEMININE FRAGRANCE

Cashfree Payments' tokenization solution 'Token Vault' introduces interoperability across payment gateways

Odisha Investors' Meet, Dubai: CM Naveen Highlights Vast Investment Opportunities In Odisha - IPICOL

Strayos Inc., USA, and Squadrone Infra & Mining Pvt. Ltd., Bangalore, India, are announcing a new partnership

Global Metrology Software Market Driven by High Demand for Quality Control

Clarivate Top 100 New Brands Report Reveals Trends and Hotspots in Rapidly Evolving Global Brand Landscape

Frontier introduces support for Calm Radio, Klassik Radio Select, Bluetooth 5.0 and the latest version of Spotify Connect

Gaming Laboratories International (GLIĀ®) GLI Africa Reaches Landmark Milestone with 100 Employees

Absen reaches an historic milestone of signing 1000 global channel partners

LiveHire to Sponsor Webinar with Global Workforce Management and announces availability of its Total Talent Acquisition and Direct Sourcing Platform in India

Alex Bentley buys $40k worth property in LootMogul Metaverse

BE OPEN celebrates winners of DESIGN TO NURTURE THE PLANET, competition to support the UN sustainable goals

Embark on A Personalised Search Journey with Petal Search

PureSoftware creates a bridge to get "Back to WorkĀ®" for Female Professionals on Career Break

MOƋT HENNESSY STRENGTHENS ITS GLOBAL PORTFOLIO OF EXCEPTIONAL WINES WITH THE ACQUISITION OF JOSEPH PHELPS VINEYARDS, ONE OF THE MOST RESPECTED AND ACCLAIMED WINE PROPERTIES OF THE NAPA VALLEY IN CALIFORNIA

Israel Honors Pfizer CEO Albert Bourla with the "Jewish Nobel" Prize

Eurofins DiscoverX Celebrates Shanghai Office Opening

ViewSonic Partners With New Taipei City to Build the World's First Citywide Education Metaverse

Warwick consolidates Mayfair collection with Green Street portfolio addition

Clinch Partners with IAS to Launch Industry-Leading Automated Tag Wrapping Solution

Fair Fund to Compensate Certain Investors in Facebook, Inc., Common Stock.

#PrideMonth: 8 LGBTQIA Key Opinion Leaders (KOLs) Making Big International Impact

Deltek Once Again Recognized by G2 as a Project-Based ERP Leader

Permanent art display in monumental desert set to become global icon

Insurance providers can assess customer health risks in real-time using contactless vital sign monitoring solution from NuraLogix

Xinhua Silk Road: Conference to recruit talents in dire need held in Wangcheng District of Changsha in central China

Global Infrastructure Partners and ADIA Agree to Acquire 72.55% Interest in European Rail Logistics Company, VTG

International and Domestic manufacturers and exporters from 15 countries to showcase latest in apparel, textile and fashion industry innovations at ASW 2022

New Report Ranks OMD Worldwide #1 Media Agency as Marketers Shift Focus from Navigating Disruption to Managing Transformation

BioLineRx Enters Co-Development Agreement with GenFleet to Further Develop Motixafortide in Pancreatic Ductal Adenocarcinoma (PDAC), Advised by MSQ Ventures

TheMathCompany Launches AI Xecutive Council

LyondellBasell Announces Renewable Energy Power Purchase Agreements

/C O R R E C T I O N -- PokerStars/

QS reveals the world's best cities for students

PLDT triples international capacity with US-Transpacific Jupiter Cable PH link

CGTN: Hong Kong 25 years on: A bigger role in nation's opening-up

National Inbound and Domestic Tourism Association of Moldova (ANTRIM) launches the documentary film: "A Small Country with a Big Heart"

ABB Applauded by Frost & Sullivan for Decreasing Power Consumption and Lowering Carbon Emissions with Its Power Technology Subsea System

DBN Group Jointly Tackle Down Pressing Agricultural Problems with Top-notch Scientist and Award Winners

NSDL launches 'Chalo, School Chale' campaign across India

Singapore's largest HRTech Marketplace expands to India

Growth in Cyber Attacks Boosts Global Demand for Endpoint Security

Global Ground Station Services Market to be Transformed by Innovative Business Models

Businesses Winning Women's Hearts to Thrive: 9 Mega Trends Leading the Way in the Sheconomy

Berge Bulk vessel to sail with WindWings in 2023

Zerocap enables trade of tokenised carbon credits with A$DC

Razorpay Trusts Purple Quarter to Onboard Ex-Amazon Techie as the CTO

Nanoprecise Sci Corp achieves SOC 1 Type II and SOC 2 Type II Compliance

Rocketium integrates with MoEngage to enable dynamic visual content at scale across channels

Pantum Launches New 3-in-1 Monochrome Laser Printer Series M7310 with Enhanced Connectivity and Printing Capability

FIDO Alliance Announces the FIDO Developer Challenge - India

Tredence Wins Databricks 2022 Retail and CPG Partner of the Year Award

Pro Music Rights, Inc., one of the world's largest music licensing companies, announces the closing of an undisclosed funding round of $5,500,000 USD and a valuation of $422,583,333 USD

Timecho, Founded by the Creators of Apache IoTDB, Raises Over US$10 Million First Fund for Open-Source Software R&D and Time-Series Database Solutions

Regional Center Lawsuits Receive Favorable Preliminary Injunction Ordering the Immediate Start of the EB-5 Regional Center Program

Carl's Jr. Australia Announces Partnership with UFC

MYLE VAPE WINS "BEST BRAND" AWARD AT THE 2022 MENA VAPE AWARDS

WDO names Patricia Moore as recipient of 2022 World Design Medalā„¢

Databricks Unveils New Innovations for its Industry Leading Data Lakehouse Platform

Databricks Announces Major Contributions to Flagship Open Source Projects at Data + AI Summit

NewAmsterdam Pharma and the Menarini Group Sign Licensing Deal to Commercialize Obicetrapib in Europe

Ascend brings new EV, battery materials to Battery Show Europe

PokerStars officially launches in hometown Ontario

Kensing Announces Acquisition of Vitae Naturals

stern magazine exclusive: Henry Kissinger argues against a coup against Putin: "It is likely that a peace agreement will have to be made with Putin" - but the West should not "tolerate" a Russian nuclear threat

Mr. Cook to launch small home appliances and also large-sized pressure cookers at Vibrant India 2022

Elton John Gifts Hard Rock International His One-of-a-Kind Gucci Suit in Exchange for His Legendary Dodger's Uniform Amid Headlining American Express presents BST Hyde Park

4th Edition of WTCA Prime Office Index LatAm Proves Projections for the Premium Office Segment Are Increasingly Positive in Latin America

INX and SICPA Sign a Groundbreaking Memorandum of Understanding To Establish a Joint Venture to Develop An Innovative Central Bank Digital Currency Ecosystem To Support Monetary Sovereignty

Talogy launches modular assessment solutions, bringing first-of-its-kind configurability to the market

ICFAI Business School (IBS) Offering Scholarship Program worth 10 Crores to Students

Ariel and Hoerbiger Announce Partnership for Non-Lube Compressor Solutions for Hydrogen Mobility Markets

Glenmark Pharmaceuticals Inc., USA continues to expand its Over-The-Counter (OTC) Portfolio with the acquisition of approved ANDAs from Wockhardt Limited

Cendyn announces partnership with OpenTable to integrate hotel reservation and dining data into a unified guest profile

Lifestyle announces its most-awaited SALE of the Season

New hope for IVF patients as global study published in Human Reproduction shows AI can effectively assess genetic integrity of embryos

Altair Releases Altair Unlimited Data Analytics Appliance

Gotion High-Tech intends to invest in a production base in Europe with an annual production capacity of 18GWh

Mass production of new-generation 430W Vertex S begins, Trina Solar is delivering the ultra-high performance modules for all rooftops

BEQUANT launches industry-first DeFi platform for institutional clients

Clarivate Names World's Leading Journals with the 2022 Journal Citation Reports

Rupa Publications India launches 'The 10 Gunas' book by Prof. PR Mukund

Argentine President Fernandez meet with Gotion High-tech chairman Li Zhen

Bharath Institute of Higher Education and Research wins award at UK's iconic House of Commons, plans to help 100 deserving underprivileged children from TN pursue research overseas

Dukaan Partners with SHIELD to Strengthen Security and Elevate User Trust for Millions

Books on Prime Minister Narendra Modi's relationship with the Sikh community internationally released by NID Foundation at Chicago

Anand Rathi creates an industry-first rap-based ad campaign for investor education

Culture: The Department of Culture and Tourism - Abu Dhabi and UNESCO launch a new report on the economic impact of COVID-19: Pandemic cost culture up to 40% in lost revenue and over 10 million jobs

ICRA upgrades Outlook to Stable, while re-affirming long-term rating of Edelweiss Financial Services

EZVIZ LAUNCHES C1C-B, A COMPACT INDOOR WiFi CAMERA WITH SUPERIOR SAFETY QUALITY

Help Save Lives With Heads Up! Helmet Safety Campaign

HOLBORN DOUBLES DOWN ON INTERNATIONAL EXPANSION

FMC launches pre-emergent herbicide to support sugarcane farmers in India

Dawid Malan, Fateh Education's Brand Ambassador bats for children from KHUSHII NGO

Ceres and Shell announce electrolyser agreement for green hydrogen

DSM-Firmenich update on public exchange offer process

Transforming Education for the Real-world: No subjects, no classrooms, no exams

CJ 4DPLEX, Cines Filmax Adds 4DX Auditorium to Gran Via Location

Wemade's MMORPG masterpiece, MIR4, to reveal new PVP content - Bicheon Heist

ST Telemedia Global Data Centres (Thailand) Earns Frost & Sullivan's 2022 Competitive Strategy Leadership Award in the Data Center Colocation Services Market

Asia businesses struggle to offset losses from increased B2B bad debt, Atradius survey reveals

Pijar Foundation and EdHeroes Network Strategic Agreement: Global Future Talent Alliance and EdHeroes Hub

Omnicom Media Group Heads Home from Cannes with 39 Lions, the Media Network Crown, a New Global Consultancy and a Big Lead in Connected Commerce

Amai Proteins, producer of 100% protein sweetener that reduces sugar in Food & Beverages by up to 70%, voted Global Winner at the 2022 Extreme Tech Challenge Competition

NEOM and McLaren Racing announce strategic title partnership to drive innovation and talent development in electric motorsport

IAS Announces Campaign Sync Solution with Xandr's Invest DSP to Match Advertisers' Pre- and Post-bid Settings

Shahani Group Chairperson Mrs Maya Shahani Featured in The Knowledge Review's 2022 Listing of India's Most Admired Women in the Education Sector

Court Lifts Final Injunction in Favor of Altair in World Programming Case

Medvarsity partners with McGraw Hill to augment its courses and improve learning outcomes

PHD Media and 1862 OML win big at the Inkspell Media's MarTech Fest held on 24th June in New Delhi

Sigmoid strengthens financial services, industrial, and media offerings with accelerators and hiring deep domain experts

Thailand Draws on Creativity, Technology to Answer Consumer Demand for Eco-Friendly Lifestyle Goods

JOYSBIO offers SARS-COV-2 Antigen Rapid Test that detects Omicron subvariants BA.4 and BA.5

Global Secure SD-WAN Solutions Thrive as Organizations Turn to Cloud and 5G

Top 3 Countries for Future Growth Potential: The United States, Norway, and the United Kingdom

Abcam: Appointment of Vice President of Investor Relations

LIXIL announces winners and continuing support of the Asia Pacific Property Awards 2022-23

The 7th edition of the Embedded Safety & Security Summit culminated with a triumph

CSM Tech wins IMC Awards for transformation at JSW mines

Myntra StyleCast rolls out Campus Ambassador Program, kick starting the journey for ~500 aspiring young creators from leading colleges

12th DBN Science and Technology Award Ceremony to Further Broaden the Vision of Agricultural Innovation

Petal Search wins iF Award 2022, signaling its dedication to next-generation search engine

Hisense Praises Women Football Players through #RememberTheName Campaign, Commits to Enhancing Tournament Experience

CGTN: Why China's development philosophy can help promote global prosperity

Theme song "We Will Be Better" echoes 25th anniversary of HK's return to motherland

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Environment Ministry claims to keep nati...
Rath Yatra festival in Odisha's Puri to ...
Cops save man from jaws of death in Delh...
Anit Thapa resurrects Gorkhaland stateho...
Bihar govt announces Nitish-Modi Nagar f...
Despite regional disparities, June rainf...
More...    
 
 Top Stories
US accuses Chinese companies of aid... 
SAD to support Droupadi Murmu in pr... 
Karnataka has ably managed the tax ... 
ISL: Bengaluru FC sign promising yo... 
Ukraine needs 'hard work, determina... 
Nearly 700 kg of plastic items seiz... 
Semi-automated offside technology t... 
IRCTC's online bus ticket booking v...