One In Five Workers Switch Job For More Money

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

These are key findings 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.

With an increase in pay being a main motivator for making a job change (71%), 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%).

What else in addition to pay?

As well as better pay, workers cited wanting a fulfilling job (69%) and wanting to truly be themselves at work (66%) as the next top things they are looking for.  Interestingly, and adding weight to the current hype about hybrid working, nearly half (47%) prioritised being able to choose where they work.  However, employers also need to consider the 45% of the workforce that can’t work remotely—people who do essential work but report feeling less fulfilled and empowered than respondents who can work remotely.

Worker empowerment

What makes a worker feel empowered? Specialised training is one element – among respondents, almost half said their job requires some level of specialist training.  This group was far more likely than other respondents to say they would ask for a raise or promotion in the next 12 months.

A second aspect of worker empowerment is having scarce skills. The industries with the highest share of respondents who feel their skills are scarce are healthcare (including pharmaceutical firms), technology, media and telecommunications.  Compared with employees who don’t believe their skills are scarce, this group is more likely to feel listened to by their managers and feel satisfied with their job.

Bob Moritz, Global Chairman of PwC, said:

“There is a tremendous need for business to do more to improve the skills of workers.  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.”

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