Nearly half of workers (45%) say their workloads have increased significantly over the past year, according to a new global survey by PwC.
The 2024 Global Workforce Hopes & Fears Survey, which gathered insights from 56,600 workers across 50 countries, including Canada, highlights a growing focus among employees on long-term skills development and the strategic use of generative AI (GenAI) technologies.
And in a warning sign for employers, more than one-quarter (28%) say they are very or extremely likely to switch employers in the next 12 months. To put that number in perspective, that’s higher than during the ‘Great Resignation’ post-COVID when it sat at 19%.
“As workers navigate through increased uncertainty and workload, they are actively seeking opportunities to enhance their skills and leverage emerging technologies like GenAI to boost their career trajectories,” said Carol Stubbings, global markets and tax and legal services leader at PwC UK.
She stressed the necessity for employers to invest in both their human and technological resources to alleviate employee pressures and secure top talent.
The role of GenAI
The survey also sheds light on the role of GenAI in the workplace. A significant majority (82%) of daily GenAI users anticipate these tools will enhance their work efficiency within the next year.
Additionally, 49% of all GenAI users expect these technologies to lead to higher salaries, with this expectation rising to 76% among daily users.
The findings also point to a considerable gap in skills development opportunities provided by employers, with just 46% of employees feeling their companies offer adequate learning opportunities. This gap is even more pronounced among those contemplating a job change, with 67% citing the availability of new skills training as a critical factor in their decision-making process.
“Technology is reshaping not only how we work but also the skills required in the modern workplace. Employees are increasingly valuing organizations that prioritize their skill development, which in turn propels successful business transformations,” said Pete Brown, global workforce leader at PwC UK.
Cost of living crunch improving
While the survey highlights ongoing financial stress — with 52% of workers still feeling financially pressured — the results also indicate a slight improvement in cost-of-living conditions since last year, with a small increase in the number of workers reporting disposable income at the end of the month.
Overall, the survey paints a picture of a global workforce in transition, where skills development and technological adaptation are becoming paramount.