PWC Report Shows Workers Facing Increasing Workloads, Pressure Amid Health Risks
- A new report from PWC shows that there has been a significant increase in workloads for employees
- The report revealed that the increase has left workers feeling the pressure to switch employers
- Employers have been advised on what to do in providing the right environment to ensure balance
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
PricewaterhouseCoopers (PwC) has shed light on the mounting challenges workers face globally, indicating a concerning trend of increasing workloads and pressure.
According to the findings released in a new report titled PWC's 2024 Global Workforce Hopes & Fears Survey, it was revealed that among 56,000 workers across 50 countries and territories, many raised concerns about rising workloads and heightened workplace uncertainty.
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Amid these intensified work demands, employees also expressed heightened concerns regarding their health and well-being.
Part of the report reads:
“In the last 12 months, workers say they have experienced rising workloads (45%) and an accelerating pace of workplace change.
"Almost two-thirds (62%) report experiencing more changes at work in the past year compared to the previous 12 months, and 40% indicate a significant shift in their daily responsibilities.
"Additionally, nearly half (44%) express confusion regarding the purpose behind these changes."
The report also noted that workers are now more alert to opportunities elsewhere due to the pressure and are highly focused on skills growth and embracing AI.
The report further indicated:
"Over a quarter (28%) indicate they are likely to change employers within the next 12 months, a significantly higher percentage than during the 'Great Resignation' of 2022 (19%). Among those contemplating a move, two-thirds (67%) cite skills as a crucial factor influencing their decision to either remain with their current employer or switch to a new one."
Also, Carol Stubbings, the Global Markets and Tax & Legal Services Leader at PwC UK, quoted in the report, noted that aside from rising workloads, employees face financial stress, Punch reports.
His words:
The employees are prioritising skill growth and embracing new and emerging technologies like GenAI to accelerate their career growth.
"The findings indicate that job satisfaction alone is no longer sufficient. In a rapidly changing technological landscape, employees are placing greater value on developing their skills.
"Employers need to invest in both their employees and technological infrastructure to reducte work pressures and retain top talent."
He added that employees increasingly rely on AI to improve their work efficiency and skills.
Employers are advised to trust more in workers
Also, Olusola Adewole, the Partner and Workforce Transformation Leader, PwC West Market Area, said workers prioritise skills growth to advance their careers.
He added:
“Technology is fundamentally transforming the way work gets done and the types of skills employers are looking for. Employees are, therefore, placing an increased premium on organisations that invest in their skills growth so that they can stay relevant and thrive in a digital world. "
He advised businesses to be proactive in their upskilling programmes- prioritising the employee experience and being transparent.
He stressed:
" Because when you meaningfully engage your workforce, they become catalysts for successful transformation.”
The report also maintained that despite the change in pace, there were signs of optimism and engagement at work.
It added:
“60 per cent of workers expressed at least moderate job satisfaction (up from 56 per cent in 2023) while more than half (57 per cent) of employees who view fair pay as important agree that their job is fairly paid."
Minimum wage: States paying more than N30k
Legit.ng earlier highlighted some state governors that have started paying workers more than N30,000 as minimum wage.
Demand for an increase in the minimum wage has continued to intensify across the country amid harsh economic realities.
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