SOME 29% of the workforce is considering switching jobs over the next 12 months, with a large majority likely to seek promotion or a salary increase, according to a survey conducted by consulting firm PwC.
According to PwC Philippines’ 2023 Hopes and Fears Global Workforce Survey, which launched in the Philippines on Thursday, 29% of survey participants said they expect to change jobs, with 35% of potential job-switchers considering industries such as engineering and construction, with 31% eyeing hospitality and leisure.
PwC added that 70% of respondents are likely to seek a pay raise, with 59% are seeking a promotion.
The global survey, carried out in April, covered 53,912 individuals across 46 countries and included 1,000 Filipinos. Globally, 26% of employees are considering a change of employment.
“There are different factors that drive an employee to consider changing employers. The most immediate one usually is a pay rise or possibly a different role or promotion,” PwC Philippines Managing Principal Veronica R. Bartolome said at a briefing in Makati City on Thursday.
The survey also found that 74% of Filipino respondents whose jobs require specialist training are likely to ask for a pay raise, while 64% are seeking promotions, while 27% stated they are not looking to change employers.
The survey also found that 39% of Filipino respondents do not expect their organization to remain in operations beyond 10 years.
Martijn Schouten, PwC Southeast Asia consulting partner, said the Great Resignation has yet to run its course.
“There is still a massive restlessness in the workforce. What is hindering people from moving around is the global crisis, which makes them want a little bit more security,” he added.
According to Ms. Bartolome, employers should prepare for “workers (that are) more assertive, more demanding, and more ambitious. The Great Resignation is far from over, so employers need to brace themselves.”
“It is not just about the salary or the promotion. They place equal importance on how they can thrive, how they can achieve work-life balance, and their overall wellbeing at the workplace,” she added. — Revin Mikhael D. Ochave
