Pressure is mounting on employers as 35% of the workforce is planning to ask for a salary raise or accept better opportunities elsewhere in the next 12 months, according to a study done by professional services network PWC Global Workforce in March.
This is one of the largest global workforce surveys done on over 52,000 workers in 44 countries and territories.
The survey found that the highest pressure on pay is in the tech sector, with 44% of workers planning to ask for a raise, while pay in the public sector remained the lowest (25%).
Bob Moritz, Global Chairman of PwC, said that while an increase in pay was the main motivator for making a job change, a large portion of workers also wanted more control over how they work and they wanted to derive greater meaning from what they do.
“…Workers are not just looking for decent pay, they want more control over how they work,” said Moritz.
“There is a tremendous need for business to do more to improve the skills of workers, while being conscious of the risk of polarisation if opportunities to develop aren’t provided right across society.
“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.”
The survey also found that there was a growing trend of inequalities in the workplace polarised on a number of dimensions.
It said that women were seven points less likely than men to say they are fairly rewarded financially, but still seven points less likely to ask for a raise.
Also, women were also eight points less likely to ask for a promotion and eight points less likely than men to feel their manager listened to them.
Shirley Machaba, PwC South Africa CEO, said this was likely to create a negative impact on businesses.
“When there is a failure to ensure women have the same opportunities as men to develop their skills and careers, it can have a negative impact on business and society,” explained Machaba.
“We have seen that one of the quickest ways to strengthen the workforce is to ensure women are not overlooked.
“This means addressing the culture, systems, and structures that prevent women from accessing these opportunities, and ensuring that women are heard, seen, and provided room to make meaningful changes.”
Other key findings from the survey suggested that:
- 45% of respondents said their job could not be done remotely
- Of those who say their job can be done remotely, 63% say they prefer some mix of in-person and remote working
- 26% of employees would prefer full-time remote work, but only 18% say their employers are likely to adopt that model.
- Another 18% say their employers are likely to require full-time in-person work, which only 11% of employees prefer.