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PwC says employee turnover will surge next year, AI is changing the workplace.

PwC says employee turnover will surge next year, AI is changing the workplace.

TraderKnowsTraderKnows
2024-06-25
Summary:PwC recently conducted a survey on the global labor market, revealing that the proportion of employees choosing to switch jobs within the next year is expected to rise significantly.

According to a survey by PwC on the global workforce, the proportion of employees expected to change employers in the next 12 months is higher than during the "Great Resignation" period in 2022.

PwC's survey, which included over 56,000 employees, revealed that approximately 28% of respondents said they are "very or extremely likely" to leave their current company, compared to 19% in 2022 and 26% in 2023.

PwC's "Hope and Fears" survey for 2024 also showed that employees are actively embracing emerging technologies like generative AI (GenAI) and are prioritizing skill development amid increasing workloads and heightened workplace uncertainty.

Pete Brown, PwC UK's Global Workforce Leader, stated that employees are placing greater value on the efforts companies put into their skill growth, and therefore, companies must prioritize skill development and employee experience.

About 45% of respondents reported experiencing increased workloads and accelerated workplace changes over the past 12 months, while 62% said they faced more changes last year than the year before.

Among employees who use generative AI daily, 82% stated that they expect this technology to boost their efficiency in the next 12 months.

PwC's survey indicated that nearly half of the respondents believe generative AI will lead to higher salaries, and nearly two-thirds hope these emerging tools will improve work quality, reflecting their confidence in GenAI's potential to aid career development.

Carol Stubbings, PwC UK's Global Markets, and Tax and Legal Services Leader, mentioned that employers must invest in their employees and technology platforms to reduce stress and retain talent.

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The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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