PwC’s latest Global Workforce Hopes and Fears Survey highlights a growing disconnect between employee aspirations for transformation and the prevailing company culture. Despite a pressing need for organizational reinvention, many employees feel unsupported, with 26% indicating plans to leave their jobs within a year, up from 19% the previous year. The survey, encompassing nearly 54,000 workers globally, underscores the importance of addressing skills gaps, financial stress, and fostering a culture of innovation and inclusivity. It reveals that workers with specialized training feel more prepared for future changes compared to their non-specialized peers. Economic pressures have led to increased financial burdens, pushing employees to seek better opportunities. The findings suggest that leaders must prioritize understanding employee needs, encouraging open dialogue, and creating an inclusive environment to enhance engagement and retain talent.
| name | description | change | 10-year | driving-force | relevancy |
|---|---|---|---|---|---|
| Employee Discontent | 26% of workers plan to quit in the next 12 months, a notable increase from last year. | From a workforce feeling stable to one increasingly considering leaving. | Companies will face higher turnover rates, necessitating better retention strategies. | Increased financial stress and lack of fulfillment in current roles. | 5 |
| Skills Gap Widening | 53% of workers report needing specialist training, indicating a growing skills gap. | From a workforce with more balanced skill distribution to one with significant disparities. | Companies will struggle with productivity and innovation due to unaddressed skills inequities. | The rapid evolution of job requirements and technology demands specialized skills. | 4 |
| Financial Hardship | 14% struggle to pay bills monthly, increasing from previous years. | From a relatively stable financial situation to widespread economic stress among workers. | Increased financial strain could lead to lower employee engagement and productivity. | Rising costs of living and economic uncertainty impacting workers’ financial stability. | 5 |
| AI Acceptance | Many workers view AI positively, believing it will enhance productivity. | From fear of job loss due to AI to a more optimistic outlook on its benefits. | Workplaces may increasingly integrate AI, reshaping job roles and responsibilities. | The potential for AI to streamline processes and enhance efficiency in jobs. | 4 |
| Specialisation Gap | Workers with specialist training are more proactive about career advancement than non-specialists. | From a uniform approach to career progression to one where specialists dominate promotion opportunities. | Economic disparities may widen, with specialist workers advancing faster than others. | The increasing need for specialized skills in a changing job market. | 4 |
| Culture of Fear | Only 35% of workers feel their managers tolerate small-scale failures. | From a culture of innovation to one where risk-taking is discouraged. | Organizational creativity may stagnate, leading to reduced competitiveness. | Leadership’s reluctance to embrace failure as a learning opportunity. | 5 |
| Burnout and Workload Issues | One-fifth of workers report unmanageable workloads, often due to lack of resources. | From manageable workloads to increased employee burnout and dissatisfaction. | Higher burnout rates could lead to increased turnover and decreased productivity. | Under-resourced teams struggling to meet demands in a fast-paced environment. | 5 |
| Shift to Skills-Based Hiring | 35% of employees feel their skills are undervalued by employers. | From traditional qualifications-based hiring to a more skills-oriented approach. | Employers may unlock a broader talent pool, enhancing workforce diversity. | The need for companies to adapt to changing job requirements and employee skills. | 4 |
| Increased Job Changes Among Youth | Higher percentages of Gen Z and millennials plan to change jobs in the near future. | From stable job retention to a more mobile and dynamic young workforce. | Employers will need to adapt quickly to retain younger talent amid frequent job changes. | Youth dissatisfaction with current job conditions and a desire for growth opportunities. | 5 |
| name | description | relevancy |
|---|---|---|
| Cultural Resistance to Change | Companies may have cultures that resist debate and dissent, hindering transformation efforts. | 4 |
| Employee Turnover Risk | Increased likelihood of employees quitting amidst dissatisfaction and economic pressure. | 5 |
| Widening Skills Gap | Lack of clarity on future skills requirements could leave many workers unprepared and vulnerable to job losses. | 5 |
| Financial Hardships Impacting Productivity | Financial stress for a significant portion of employees may lead to decreased productivity and engagement. | 5 |
| Economic Inequality | Growing inequity between employees with specialist training and those without could exacerbate economic disparities. | 4 |
| AI Adoption Anxiety | Employees’ varying perceptions of AI’s impact reflects a divide in readiness for technological change and potential job displacement. | 4 |
| Burnout and Workload Management | High workloads and lack of resources could lead to employee burnout, affecting overall workforce health. | 4 |
| Inadequate Employee Support Systems | Companies may lack effective programs to help employees manage financial stress and personal development. | 5 |
| Innovation Stiflement | Discouraging experimentation and dissent may stifle innovation and employee engagement, impacting company growth. | 4 |
| Disconnect Between Leadership and Workforce | Cultural discrepancies between the C-suite and front-line employees may hinder effective transformation and engagement. | 4 |
| name | description | relevancy |
|---|---|---|
| Reinvention Readiness | Employees are increasingly ready to embrace transformation, highlighting a gap between workforce eagerness and company culture. | 5 |
| Job Mobility | A significant number of employees, especially Gen Z and millennials, are willing to change jobs due to dissatisfaction or financial pressures. | 4 |
| AI Acceptance | Workers exhibit a positive outlook towards AI, seeing it as a tool for productivity rather than a threat to employment. | 4 |
| Skills Disparity Awareness | Recognition of a growing skills gap, particularly among those without specialized training, affecting job security and financial stability. | 5 |
| Financial Stress Impact | Workers are increasingly impacted by financial stress, which influences their job satisfaction and willingness to seek new opportunities. | 4 |
| Demand for Inclusivity and Transparency | Employees seek clearer communication and involvement in organizational changes, emphasizing a need for inclusive leadership. | 5 |
| Shift to Skills-Based Hiring | A growing trend in organizations to prioritize skills over traditional qualifications in hiring and promotion processes. | 4 |
| Encouragement of Innovation | Employees desire an environment where experimentation and debate are tolerated, essential for fostering innovation. | 5 |
| Financial Wellness Initiatives | In response to rising economic pressures, there is a growing demand for companies to support employees’ financial health and literacy. | 4 |
| Work-Life Balance Awareness | Employees are increasingly aware of burnout and are seeking better work-life balance as a determinant for job satisfaction. | 4 |
| name | description | relevancy |
|---|---|---|
| Artificial Intelligence (AI) | AI is increasingly being embraced in workplaces to enhance productivity and efficiency, despite concerns over job losses. | 5 |
| Generative AI | Generative AI applications like ChatGPT are becoming prevalent in the workplace, influencing employee perceptions and productivity. | 5 |
| Skills-first Approach | A shift towards recognizing and prioritizing skills over traditional qualifications to better utilize employee potential. | 4 |
| Human Skills Development | Emphasis on strengthening human skills like adaptability, critical thinking, and collaboration, which are essential in a technology-driven work environment. | 4 |
| name | description | relevancy |
|---|---|---|
| Workforce Transformation vs. Company Culture | A disconnect between skilled employees wanting change and company cultures resistant to debate and innovation poses significant challenges. | 5 |
| Rising Employee Turnover Intentions | 26% of employees plan to quit within a year, indicating ongoing restlessness and dissatisfaction with current job conditions. | 5 |
| Financial Hardships and Economic Inequality | A growing number of employees face financial stress, which is linked to wider economic disparities and affects job satisfaction. | 4 |
| Skills Gap and Specialisation Divide | A widening skills gap exists, with non-specialist workers feeling less prepared for future job requirements compared to their specialist counterparts. | 5 |
| Perception of AI’s Role in the Workplace | Despite concerns, many employees see AI as a tool for increased productivity, indicating a potential shift in workforce perceptions of technology. | 4 |
| Employee Engagement in Transformation Efforts | Successful organisational transformation requires engaging employees in the vision and implementation, which is currently lacking in many companies. | 5 |
| Cultural Disconnect Between Leadership and Employees | A significant gap exists between how leadership perceives company culture and the actual experiences of employees on the ground. | 5 |
| Burnout and Unmanageable Workloads | A notable portion of employees report unmanageable workloads, contributing to burnout and dissatisfaction. | 4 |
| Need for Financial Wellness Programs | Increasing financial stress among employees highlights the need for companies to address financial wellness as part of employee support. | 4 |
| Lack of Clarity on Future Skills Requirements | Many employees lack a clear understanding of how their job skills will evolve, risking their adaptability in the workforce. | 5 |