As cost of living concerns continue to bite, one in four workers are looking for new jobs, said PwC recently when releasing results of its 2023 Global Workforce Hopes & Fears Survey.
The survey collected responses from nearly 54,000 workers in 46 countries and territories, according to PwC.
Despite a softening economy globally, ‘The Great Resignation’ looks to continue, PwC noted.
One in four (26%) employees say it is likely they will change jobs in the next 12 months, up from 19% last year.
Workers who said they are most likely to change employers include those who feel overworked (44%), struggle to pay the bills every month (38%), and Gen Z (35%).
Purpose, company culture and inclusion also remains key to employee concerns, PwC pointed out.
Among workers who said they are likely to change employers, less than half (47%) said they find their jobs fulfilling compared to 57% of those unlikely to change employers, the report indicated.
Those likely to change employers are also eight percentage points less likely to say that they can truly be themselves at work than their counterparts who intend to stay (51% vs. 59%), the report added.
Today’s cooling economy is creating a cash-strapped workforce
Globally, employees are increasingly having cost of living concerns as a cooling economy and inflationary challenges continue to impact workforce wallets, according to PwC.
The proportion of the global workforce who said they have money left over at the end of the month has fallen to 38%, down from 47% last year, survey results indicated.
One in five workers (21%) now work multiple jobs, with 69% doing so because they need additional income, according to the report, adding that the share of workers with multiple jobs is higher for Gen Z (30%) and ethnic minorities (28%).
The economic squeeze is also driving up pay demands, with the proportion of workers planning to ask for a pay increase jumping from 35% to 42% year on year, PwC said.
Among workers who are struggling financially, that number rises to nearly half (46%), PwC added.