PwC’s 2024 Global Workforce Hopes & Fears Survey highlighted that many say they are prioritising long-term skills growth to accelerate their careers amid rising workloads and heightened workplace uncertainty.
The survey has revealed the following findings:
- 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 likely to switch employers in the next 12 months – a higher proportion than during the ‘Great Resignation’ (19%) in 2022.
- Employees prioritize 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.
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 characterized 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”, Carol Stubbings added.
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.
Editor’s Opinion
Over the past two years, employees have faced a notable increase in workload across various industries. Several factors contribute to this trend.
Firstly, the rapid pace of technological advancement has necessitated quicker adaptation and implementation of new systems and processes, placing additional demands on workers to stay updated and proficient.
Secondly, economic pressures, such as fluctuating markets and increased competition, have driven organizations to streamline operations and maximize productivity, often resulting in heavier workloads for existing staff.
Moreover, the shift towards remote work, accelerated by global events, has blurred boundaries between personal and professional life, leading to longer working hours and decreased separation from work responsibilities.
This phenomenon has exacerbated burnout and mental health concerns among employees, further impacting their ability to manage increased workloads effectively.
Additionally, workforce reductions and hiring freezes in some sectors have left fewer employees to handle the same or even expanded scopes of work, placing strain on individuals and teams.
These challenges have highlighted the need for organizations to prioritize employee well-being and implement strategies to manage workload effectively, such as task prioritization, workflow optimization, and fostering a culture of work-life balance.
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