Employee influence grows: 43% set to quit jobs for better pay, career opportunities and flexibility
PR95563
LONDON, April 20, 2022 /PRNewswire-AsiaNet/ --
- EY 2022 Work Reimagined Survey shows employees now have greater influence
over employment terms; 42% of employees say pay increases are needed to address
staff turnover, while only 18% of employers agree
- 22% of employers say they want employees to come back to the office five days
a week; 80% of employees want to work remotely at least two days a week
- 32% of employers have succeeded in boosting productivity and culture, through
hybrid work and investing in amenities and workplace technology
Employees around the world now hold more sway in the global job market, with
two-fifths (43%) of respondents saying they are likely to quit in the next 12
months – driven mostly by a desire for higher total pay, better career
opportunities and flexibility amid rising inflation, a shrinking labor market
and an increase in jobs offering flexible working – according to the EY 2022
Work Reimagined Survey.
The survey – one of the largest of its kind – canvassed the views of more than
1,500 business leaders and more than 17,000 employees across 22 countries and
26 industry sectors. It shows that, as many countries emerge from the COVID-19
pandemic, employees have gained significant influence over their employers and
that their "wish list" from potential employers is changing.
Search for increased pay overtakes desire for flexibility
The main motivation for employees seeking new jobs, according to the survey, is
now a desire for higher pay. With record inflation, in many countries around
the world, more than a third of those searching for new roles (35%) say that a
salary increase is their main objective, and 25% say they are looking for
career growth. Forty-two percent of employees surveyed say that pay increases
are the key to addressing staff turnover – but only 18% of employers agree.
Flexible working arrangements – which were by far the biggest factors leading
to employee moves according to last year's survey [
https://www.ey.com/en_gl/news/2021/09/businesses-suffering-commitment-issues-on-flexible-working
] – are now less of a driver given that most are already working for companies
that offer flexibility in some form. Only 19% are seeking remote-work
flexibility from a new job, while 17% say that well-being programs would prompt
them to move.
Looking at the various age groups across the countries surveyed, Gen Z
employees and millennials in the US are the most likely to quit their jobs this
year (53%), while across the sectors, it is those with technology and hardware
jobs (60%) that are most eager to leave.
Liz Fealy, EY Global People Advisory Services Deputy Leader and Workforce
Advisory Leader, says:
"This latest survey shows that employees around the world are feeling empowered
to leave jobs if their expectations are not met. As employers have
increasingly provided flexible work approaches, higher pay is now the biggest
motivation for changing jobs, particularly given rising inflation and available
unfilled roles."
Shifting views on culture and productivity
Interestingly, the desire amongst employees to seek out new roles persists even
though they hold relatively upbeat views about company culture. The number of
employees who believe their organization's culture has improved, has risen from
48% to 61% since the start of the COVID-19 pandemic. At the same time,
employers' confidence in their own company culture has dropped from 77% to 57%.
Additionally, while employees believe new ways of working have increased
productivity, companies' confidence in their own productivity is being eroded
by increased turnover.
Growing skills and talent gaps
Fifty-eight percent of employer respondents agree it is important to have a
strategy in place to match talent and skills to future business needs; and 74%
say that they are prepared to hire employees from other countries and allow
them to work from anywhere if their skills are critical or scarce. Slightly
more than a fifth of employer respondents (21%) believe improving opportunities
to build skills will help address turnover.
Pressure to return to the office
Despite the continuing shift towards flexible working models, 22% of employer
respondents say they want employees to come back to the office five days a
week. Although reluctance to work remotely among employees has fallen (from 34%
to 20%) most employees (80%) say they want to work remotely at least two days
per week.
Boost to culture and productivity from new ways of working
The survey reveals that a large population of "optimist" employers (32%) are
managing to improve both culture and productivity. It shows that they are
achieving this by ensuring that their leaders have a shared understanding of
company issues, external practices and strategies (94%). Other factors cited by
this group of businesses as drivers of their success include hybrid work (90%),
investing in on-site amenities (39%), enhancing workplace technology (45%) and
giving employees more empowerment and autonomy (44%). By way of contrast, other
businesses are continuing to watch and wait, or are only taking selective
action.
Roselyn Feinsod, EY Work Reimagined Leader, says:
"We are seeing a top third of companies successfully navigating these divergent
positions on pay, career opportunities and flexibility. They have moved from
'resistance' to 'renaissance' and that's a win-win for their companies and
their workforce. Organizations have to work to retain their employees, instill
trust and provide a package that takes into account total pay, career path and
flexibility to balance market concerns and risks."
About EY
EY exists to build a better working world, helping create long-term value for
clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide
trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY
teams ask better questions to find new answers for the complex issues facing
our world today.
EY refers to the global organization, and may refer to one or more, of the
member firms of Ernst & Young Global Limited, each of which is a separate legal
entity. Ernst & Young Global Limited, a UK company limited by guarantee, does
not provide services to clients. Information about how EY collects and uses
personal data and a description of the rights individuals have under data
protection legislation are available via ey.com/privacy. EY member firms do not
practice law where prohibited by local laws. For more information about our
organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY
organization that also does not provide any services to clients.
About the survey
The EY 2022 Work Reimagined Survey is the latest and largest in a series of
surveys comparing employer and employee perceptions since 2020. It compares the
views of thousands of respondents, and the insights are meant to help
businesses to create a sustainable workforce that helps them drive business
growth, meet customer needs, and generate long-term value.
The Survey was conducted January through March 2022 and received responses from
17,498 employees and 1,575 employers from 22 countries across 26 industries.
The survey was conducted using a third-party panel and targeted employers with
a range of 500 to 15,000 employees.
Survey data is segmented by 88 different personal and work-related demographics
and preferences. Participant responses ranged from 21 years to 65 years plus,
with responses from senior leaders and individuals at all different functions.
For a one-hour CPE credited results webcast on Tuesday, May 17, please visit
and register here: Work reimagined: How to prepare for 'renaissance and
recommitment' | EY - Global [
]
Source: EY
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。