The PwC Global Workforce Hopes and Fears Survey reveals that many senior executives are facing the challenge of having skilled employees who are more ready for reinvention than their company culture. The survey also highlights that a significant percentage of workers are planning to quit their jobs in the next 12 months, indicating a potential “great resignation” trend. The survey emphasizes the importance of companies embracing debate, dissenting ideas, and failure as part of the transformation process. It also highlights the increasing desire of workers to learn new skills and embrace artificial intelligence. Overall, the survey underscores the need for CEOs and senior executives to prioritize workforce transformation, engage their employees, and focus on skills development to remain relevant in the changing landscape.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Business leaders prioritize transformation | Reinvention readiness of skilled people | Companies failing to tolerate debate and dissenting ideas, employees more likely to quit | Need for organizational reinvention |
| Workers plan to quit at a higher rate | Job retention rates | Higher job turnover, increased focus on job satisfaction and retention | Dissatisfaction with current work environment |
| Workers eager to learn new skills and embrace AI | Embrace of new skills and AI | Increased skill development, integration of AI in the workplace | Desire for personal growth and professional advancement |
| Financial struggles increase among employees | Financial stability | Increased financial difficulties, potential income inequality | Economic challenges and rising cost of living |
| Skills requirements increasing, potential income inequality | Skills gap and income inequality | Increased specialization and skills training, potential income disparities | Evolving job requirements and automation |
| Workers optimistic about the positive impacts of AI | Perception of AI in the workplace | Increased reliance on AI for productivity, efficiency, and job opportunities | Recognition of AI’s potential benefits |
| Lack of clarity on changing job requirements | Anticipation of changing job requirements | Potential unpreparedness for evolving job skills, vulnerability to job losses | Lack of awareness and preparedness for change |
| Divide between workers with and without specialist skills | Specialization gap and economic inequality | Increased economic disparities, potential job loss for workers without specialized training | Skills gap and limited opportunities for advancement |
| Companies fail to recognize employees’ existing skills | Skills recognition and utilization | Improved understanding of employee skills, better talent utilization | Need for skills-first approach and talent optimization |
| Lack of support for experimentation and dissent | Innovation and employee engagement | Improved innovation and employee engagement, better acceptance of diverse ideas and opinions | Need for a culture of experimentation and openness |
| Financial stress affects productivity and engagement | Financial wellness and job performance | Decreased productivity and engagement, increased distractions at work due to financial stress | Impact of personal finance on employee well-being |
| Positive and negative perceptions of AI in the workplace | Attitudes towards AI | Increased acceptance and integration of AI, recognition of potential benefits and challenges of AI | Perception of AI’s impact on career and job security |