One in five workers likely to switch jobs in next 12 months

Nearly one in five employees expect to quit their current jobs and switch to a new employer within the next 12 months, a new survey has found.

Research by PricewaterhouseCoopers (PwC) revealed that a further third of respondents said they were “moderately or slightly likely” to switch jobs, while 16 per cent are planning to leave the workforce temporarily or permanently.

The survey involved 52,195 workers across 44 countries, which the firm says is “one of the largest ever surveys of the global workforce”.

Of the respondents, more than 2,000 are from the UK. The survey found that more than a quarter (27 per cent) of British workers are planning to ask their employers for a raise in the next 12 months, with this figure rising to 35 per cent globally.

In terms of what the main motivators for a job change are, 72 per cent said a pay rise was the top reason, followed by wanting a fulfilling job (68 per cent) and wanting to “truly be themselves at work” (63 per cent).

Generation Z and Millennial workers were the most likely to say they will switch employers or leave the workforce this year, and the most likely to ask for a raise or a promotion.

PwC said that the results show that the Great Resignation – a term coined by economists to reflect the ongoing shift happening in the workplace, where employees are quitting in large numbers – is showing no signs of abating.

It comes after the UK saw more job vacancies than unemployed people for the first time, according to the Office for National Statistics.

PwC’s survey results also show that just over half of employees globally are currently working full time or mostly remotely. This figure rises to 76 per cent among UK respondents, with 59 per cent saying full time or mostly remote working would be their preference 12 months from now.

More than half of UK workers said their work can be done remotely or from home, and most respondents (62 per cent) said that hybrid working is their preferred way to work in the future.

However, more than a fifth (23 per cent) expect their employers to require full-time or mostly in-person work, which only 17 per cent of UK respondents and 26 per cent globally prefer.

Millennials are most likely to say their work can be done remotely or from home (60 per cent), compared to 53 per cent of workers from Generation Z, 49 per cent from Generation X, and 40 per cent of Baby Boomers.

The survey also reveals that the lower the respondents’ income was, the most likely they would be to work full time or mostly remotely.

It found that 73 per cent of UK respondents on lower incomes were more likely to work full time or mostly remotely, compared to respondents on a medium income (60 per cent) and high earners (64 per cent).

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.”