PwC’s latest Global Workforce Hopes and Fears Survey reveals significant challenges for business leaders amid ongoing workforce transformation. With 26% of employees planning to quit in the next year—up from 19% last year—companies face an urgent need to adapt. The survey highlights a growing skills gap, with 53% of workers requiring specialist training, while financial hardships affect 14% of employees, pushing many to seek additional jobs. Workers express optimism about AI’s potential to enhance productivity, but many lack clarity on evolving job requirements. The survey emphasizes the importance of creating an inclusive culture, fostering employee engagement, and addressing financial wellness to build a workforce ready for reinvention. CEOs are urged to prioritize understanding employee needs and aligning compensation strategies to retain talent, while simultaneously preparing their organizations for future challenges.
| name | description | change | 10-year | driving-force | relevancy |
|---|---|---|---|---|---|
| Employee Reinvention Readiness vs. Company Culture | Workers are more prepared for change than their companies are. | Shift from a passive workforce to an active, engaged one ready for transformation. | Companies will increasingly align their cultures with the evolving needs of skilled workers. | The push for innovation and skills development amidst economic pressures. | 5 |
| Rise in Job Quit Intentions | 26% of workers plan to quit within the next year, up from 19% last year. | Transition from stable employment to a more dynamic job market with frequent job changes. | Workplaces will see higher turnover rates, prompting companies to adapt to attract and retain talent. | Financial stress and the search for better opportunities drive employee mobility. | 4 |
| Financial Hardships Affecting Workers | 14% of workers struggle to pay monthly bills, impacting job satisfaction and retention. | Shift from financial stability to instability affecting employee engagement and productivity. | Organizations will be forced to adopt more supportive financial wellness programs. | The increasing cost of living and economic uncertainty push workers towards financial stress. | 5 |
| Skills Inequity on the Rise | 53% of jobs require specialist training, widening the skills gap. | Move from a generalist workforce to a more specialized one with significant skill disparities. | Economic inequality will increase as companies prioritize specialized skills over general employment. | The rapid evolution of job requirements driven by technology and market demands. | 4 |
| Acceptance of AI in the Workforce | Workers view AI as a tool for increased productivity rather than a threat. | Shift from fear of AI job displacement to embracing AI as a productivity enhancer. | AI will become integral to work processes, reshaping job roles and skills required. | The demand for greater efficiency and innovation in workplaces amidst technological advancements. | 4 |
| Lack of Clarity on Future Skills | Only 36% of workers expect significant changes in required skills in the next 5 years. | From uncertainty to a more informed workforce that understands evolving job requirements. | Companies will need to invest in continuous learning and reskilling for their employees. | The accelerating pace of technological change demands a proactive approach to skills training. | 5 |
| Dissatisfaction with Job Fulfillment | Many employees find their jobs unfulfilling, leading to increased turnover intentions. | Shift from stable job satisfaction to a culture of seeking fulfillment in work. | Employee engagement strategies will focus on personal fulfillment and job satisfaction metrics. | The desire for meaningful work experiences drives employee expectations and behavior. | 4 |
| Emergence of a Skills-First Approach | Companies need to prioritize skills over traditional qualifications in hiring. | From qualifications-based hiring to skills-focused recruitment strategies. | Workforces will be more diverse and inclusive as skills-first strategies are adopted widely. | The need to tap into untapped talent pools and enhance workforce adaptability. | 5 |
| name | description | relevancy |
|---|---|---|
| Skills Gap and Inequality | Widening skills gaps could lead to increased income inequality as workers without specialized training struggle to adapt to evolving job requirements. | 5 |
| Employee Turnover | A significant percentage (26%) of employees plan to quit in the next year, indicating potential instability for organizations. | 4 |
| Financial Stress | Growing financial hardships for employees can lead to decreased productivity and engagement, affecting overall organizational performance. | 5 |
| Resistance to Cultural Change | Company cultures that discourage debate and dissent may hinder innovation and employee engagement, stalling transformation efforts. | 4 |
| AI Job Displacement Concerns | While many employees see AI positively, the risk of job losses due to automation remains a significant concern, especially for those without specialized skills. | 4 |
| Burnout and Workload Management | High workloads and insufficient resources contribute to employee burnout, threatening their well-being and job satisfaction. | 4 |
| Lack of Adaptability | Employees without clarity on future skill requirements may be unprepared for changes, leading to reduced workforce effectiveness. | 5 |
| Cultural Disconnect | A difference in perception of company culture between leadership and employees may lead to engagement issues and unresolved conflicts. | 4 |
| Stagnant Career Growth | A lack of focus on continuous skill development and upskilling may result in a workforce that is unprepared for future demands. | 4 |
| Limited Employee Involvement in AI Integration | Employees may not be sufficiently involved in AI decision-making, leading to resistance or underutilization of AI technologies in the workplace. | 3 |
| name | description | relevancy |
|---|---|---|
| Reinvention Readiness | Employees express a desire for skills and organizational transformation, indicating a readiness for change that outpaces company culture. | 5 |
| Job Mobility Increase | A significant percentage of workers, especially younger generations, plan to change jobs within the next year, highlighting restlessness and dissatisfaction. | 5 |
| Financial Stress Impact | Financial hardships are affecting employee engagement and productivity, pushing them to consider job changes or seek additional income sources. | 4 |
| AI Embrace | Despite fears of job loss, employees show a positive attitude towards AI, seeing it as a tool for increased productivity and skill development. | 4 |
| Specialisation Gap | The divide between employees with specialized training and those without is widening, impacting job security and career advancement. | 4 |
| Employee Engagement Through Inclusion | Employees desire transparency and inclusion in decision-making, particularly regarding organizational change and AI integration. | 4 |
| Skills-First Approach | A shift towards recognizing skills over traditional qualifications is emerging, allowing better utilization of existing talent. | 4 |
| Culture of Innovation | Companies are urged to create a safe environment for experimentation and open dialogue, essential for fostering innovation. | 5 |
| Financial Wellness Initiatives | Organizations are increasingly expected to address employees’ financial health, integrating support programs to alleviate stress. | 4 |
| name | description | relevancy |
|---|---|---|
| Artificial Intelligence (AI) | AI is increasingly embraced by workers for its potential to enhance productivity and efficiency, despite concerns about job losses. | 5 |
| Skills-first Approach | A shift in hiring practices focusing on skills rather than job histories or qualifications, promoting inclusivity and better talent utilization. | 4 |
| Generative AI | Applications like ChatGPT are transforming workplaces by allowing employees to leverage AI for various tasks, enhancing creativity and productivity. | 5 |
| Upskilling and Reskilling Initiatives | Programs aimed at improving employee skills in response to evolving job requirements and technological advancements. | 5 |
| name | description | relevancy |
|---|---|---|
| Organizational Reinvention vs. Culture | The clash between employees’ readiness for transformation and the rigidity of company culture poses a risk to successful reinvention efforts. | 5 |
| Employee Turnover Trends | An increasing percentage of employees, especially Gen Z and Millennials, are planning to change jobs, highlighting potential retention issues. | 5 |
| Financial Hardships and Employee Stress | Rising financial struggles among employees are impacting their productivity and engagement, leading to a need for companies to address financial wellness. | 4 |
| Skills Gap and Inequality | The widening skills gap, particularly affecting non-specialist workers, is likely to exacerbate economic inequality and hinder productivity. | 5 |
| AI Adoption and Workforce Impact | While many employees view AI positively, there is a lack of understanding and anticipation of its impact on job roles, particularly among non-specialist workers. | 4 |
| Employee Engagement and Innovation | The lack of a supportive environment for experimentation and dissent in the workplace stifles innovation and employee engagement. | 4 |
| Future of Work Narrative | Companies need to develop a clear narrative about the future of work, especially regarding AI, to alleviate employee concerns and foster collaboration. | 4 |
| Cultural Disconnect | The disparity between C-suite perceptions and frontline employee experiences regarding company culture can lead to disengagement and turnover. | 4 |
| Focus on Human Skills | The need for organizations to prioritize human skills that cannot be replaced by AI is crucial for employee adaptation and future success. | 4 |