PwC research highlights pressure on pay in the tech sector amid great resignation

PwC building | PwC UK launches tax AI assistant with Harvey and OpenAI

Findings from a global survey by PwC show that the great resignation will continue apace in the year ahead as almost one in five UK workers (18 percent) say they are likely to switch to a new employer within the next 12 months, and 27 percent plan to ask their employer for more money in the same period.

Pressure on pay is highest in the tech sector according to the research, with 42 percent of workers globally surveyed planning to ask for a pay rise.

The ‘Workforce Hopes and Fears’ research surveyed 52,195 workers across 44 countries, making it one of the largest ever surveys of the global workforce.

Whilst an increase in pay is a main motivator for making a job change (72 percent), wanting a fulfilling job (68 percent) and wanting to truly be themselves at work (63 percent) make up the top three things workers are looking for.

The survey also found that millennials and Gen Z are the generations most concerned about being overlooked for development opportunities. Gen Z workers are also the most concerned about their lack of opportunities to work with and learn from colleagues with advanced digital or technical skills (24 percent), and about their employer not teaching them relevant skills for their career (21 percent) compared to other generations.

Kevin Ellis, chairman and senior partner at PwC UK, said: “The economic outlook may be uncertain, but it would be premature to call the end of the great resignation. Highly skilled workers are in hot demand and employers can’t be complacent. It’s not just about keeping the most talented workers happy – our data highlights the need and opportunity to create new talent and ensure no one gets left behind. Employees will vote with their feet if their expectations on company culture, reward, flexibility and learning are not being largely met.”