71% of workers to resign in one year over poor pay – PwC

A new report by the PwC, a financial and management advisory body, has indicated that about 71 per cent of workers globally will resign in the next 12 months if their salaries are not increased.

The findings from PwC’s ‘2022 Global Workforce Hopes and Fears’ survey of workers in 44 countries and territories reveals that pressure on pay is highest in the tech sector where 44 percent of workers surveyed plan to ask for a raise.

This trend will attract great resignation in the year ahead as one in five workers is reported to likely switch to a new employer should their concerns not be met.

The survey however shows that skilled workers are the most likely to ask for promotions and pay rise and to feel listened to by their manager, while those lacking skills lack power in the workplace.

The findings further show that an increase in pay is a main motivator for making a job change for 71 per cent while 69 percent want a fulfilling job and 66 percent want to truly be themselves at work. However, nearly half prioritised being able to choose where they work.

Global Chairman of PwC, Bob Moritz, said that from the findings, workers expected to look for a new employer in the next 12 months are less likely to feel satisfied with their current employer.

Olusola Adewole, Partner, People and Organisation Advisory Leader, PwC Nigeria, noted that, “In Nigeria, the great resignation is amplified by socio-political problems. People across all career levels are not just leaving their companies or industries, they are leaving the country. There is a global competition for talent; nations are competing for talent.”