The Great Resignation that followed the Covid-19 pandemic is set to continue, as per a new global survey by PwC, with one in five workers around the world saying that they are likely to seek new jobs in the next 12 months.
PwC has launched its “Global Workforce Hopes and Fears Survey 2022″ at the World Economic Forum in Davos on Tuesday, which covered 52,195 workers in 44 countries and territories.
PwC’s Global Workforce Hopes and Fears survey found that a desire for higher pay was the main driver for 71% of those seeking new roles. Meanwhile, 35% of workers plan to ask their current employer for a raise.
“The findings are very clear … you see a significant number of employees concerned about their future employment and their job security,” Bob Moritz, global chairman of PwC, said at the WEF.
However, “the power is now, we would argue — in the hands of individuals that are employed.”
The poll provides more evidence that the highest inflation levels in decades, and tight labor markets are emboldening workers to seek better compensation.
That may prove concerning for global central banks, who are wary that so-called second round effects from recent prices surges may force them to tighten policy at an even faster pace.
The survey showed pay pressures are highest in the tech sector, where 44% of workers plan to ask for a raise. In the public sector, the figure falls to just 25%.