June 12, 2024

Athens News

News in English from Greece

High inflation and uncertainty "cornered" workers

The percentage of workers who have money in hand at the end of the month falls significantly. This conclusion is based on a study by PwC that details the trends and behaviors of nearly 54,000 workers in 46 countries and regions.

In particular, one in four workers (26%) say they are likely to change jobs in the next 12 months, up from 19% last year. Similarly, workers who said they were more likely to change employers included those who feeling overwhelmed (44%), struggling to make ends meet (38%), and Generation Z, Greens (35%).

According to the survey, corporate goals and salary levels remain determining factors for employees. Among those who said they were likely to change employers, less than half (47%) said they find their work satisfactory compared to 57% of those who are unlikely to change employers.

At the international level, workers increasingly feel lack of necessary disposable incomebecause the economic recession and inflationary problems continue to affect their financial situation.

Share of the global workforce that said they have money left at the end of the month fell to 38% from 47% last year.

One in five workers (21%) currently work multiple jobs, and 69% say they do so because they need extra income. The proportion of part-time workers is highest among Generation Z (30%) and ethnic minorities (28%).

Economic tensions are also driving up wage demands, with the percentage of workers planning to demand higher wages rising from 35% to 42% year-on-year. Among workers experiencing financial difficulties, almost half (46%) plan to ask for a pay raise in the near future.

Accordingly, workers with limited financial resources are less likely and less able to meet the challenges of the future, including the need to develop new skills and adapt to the development of artificial intelligence. Compared to employees who are comfortable with fulfilling their obligations, those who struggle or can’t do so are 12 percentage points less likely to say they are actively seeking opportunities to develop new skills (62% vs. 50%), according to a PwC survey.

Likewise, employees who feel more financially secure, are more likely to seek the opinion of their colleagues and supervisors at work and use it to improve their work (57%) than those who are experiencing financial difficulties (45%).

According to the data, more than one in three (37%) of wealthy workers say that AI will increase their productivity.

Similarly, well-to-do workers believe that AI will create new jobs (24% vs. 19%), while a smaller percentage said that the development of technology will change the nature of their work for the worse (13% vs. 18%).

According to respondents in their responses, skilled workers cope with a rapidly changing economic and work environment with greater confidence. In the same climate, workers who say their jobs require special skills are more likely to anticipate the changes ahead.

More than half (51%) responded to the survey that the skills needed for their jobs will change significantly in the next five years, compared to 15% among workers without special training.

In addition, about two-thirds of skilled workers stated that confident that their employer will help them develop the digital, analytical and collaboration skills they need in the future. These rates fall below 50% among those currently unemployed.

Source link

Verified by MonsterInsights