‘Great Resignation’ trend continues as workers embrace AI and upskilling
26 June 2024
The 'Great Resignation' continues to surge for the third consecutive year, causing a growing desire for upskilling and the adoption of artificial intelligence.
More workers are planning to change jobs currently than during the ‘Great Resignation’ period of 2022, according to a PwC survey of the global workforce.
28 percent of the 56,000 workers surveyed claimed they were ‘very or extremely likely’ to move from their current companies in comparison to 26 percent in 2023 and 19 percent in 2022.
PwC’s 2024 Hopes and Fears report found that increased workloads were driving employees to adopt technologies such as Generative AI to cope.
In total, 45 percent of employees reported that their workloads have increased over the past 12 months amid a faster pace of change.
Furthermore, 62 percent of workers have noticed more substantial changes in their work environment compared with the previous year, underscoring the greater pressures which many employees are facing, and the need to adapt quickly to evolving job conditions.
PwC UK’s global workforce leader Pete Brown highlighted that staff are placing an ‘increased premium’ on organisations investing in their skills growth, calling for a greater focus on upskilling.
Sridhar Iyengar, Managing Director for Zoho Europe, commented: “The Great Resignation has put the employee in the spotlight, shifting the balance of power in the workplace and urging businesses to focus on recruitment and retention.
“Employees expect businesses to not only offer competitive salaries but to provide the right tools for them to achieve their goals more easily, as shown by the increased premium placed on upskilling in PwC’s findings.
“However, rising workloads indicate that businesses have more to do to meet the evolving needs of their employees.”
Among those who use GenAI daily, 82 percent believe it will enhance their efficiency in the coming year.
“Culture is extremely important as a differentiator in the employment market, and a workforce overwhelmed by growing workloads will only have an adverse impact on retention.
“PwC’s survey highlights an appetite for Generative AI as an enabler to streamline and improve the quality of work, but businesses can take a wider view of technology enablement through increased investment in tech and skills.
“Employee experience can have a huge impact on the success of a business and without excellent employee experience, a company cannot deliver excellent customer experience,” Iyengar continued.
Almost half of the surveyed workers expect that incorporating GenAI into their work will lead to higher salaries, and about two-thirds hope it will improve the quality of their work.
Sheila Flavell CBE, COO for FDM Group, commented: “People are investing in themselves, going in search of upskilling, reskilling and ultimately career growth. That is especially true among Gen Z, who are a core part of the Great Resignation with 66 percent believing that job-hopping is vital for career progression.”
“Many workplaces are held back by out-of-date thinking and legacy technologies, but Gen Z can play a vital role in challenging the status quo and redefining the way we work through critical thinking and digital skills.
“As a talent pool, they value flexibility, meaningful work and authentic communication, so businesses must listen and adapt to focus on their personal development through training and upskilling programmes, boosting retention and empowering Gen Z as a crucial part of their multigenerational workforce.”
Dr Adeshola Cole, CEO of Tritek Consulting, commented: “Upskilling to ride the AI wave, rather than be wiped out by it, is crucial in today's fast-evolving tech landscape. This necessity spans from entry-level positions to the C-suite.
“PwC's statistics highlight the importance of empowering employees with proper training to retain, grow, and attract talent. Job satisfaction alone isn't enough; employees need to feel supported in solidifying their roles within the organisation.
“The best way to achieve this is by providing opportunities for reskilling and upskilling.”