PwC’s 2024 Global Workforce Hopes and Fears Survey investigated the current sentiments and perceptions of employees worldwide regarding change and transformation, by surveying over 56,000 participants from 50 countries. The findings were conflicting; more than half of workers feel overwhelmed by the quantity of change happening at the workplace, but the majority of employees also feel optimistic about their organisations’ future due to recent changes. 44% of respondents do not understand why things need to change, but 77% were ready to adapt to new ways of working. Workers also reported increased workloads, uncertainty about job security, and pervasive financial struggles. Despite this, 60% feel optimistic about the future of their organisation and 72% are excited about opportunities to learn and grow in their role.
To build a future-fit workforce in this age of transformation and address some of the challenges highlighted through the survey results, organisational leaders should consider the following actions.
Leading transformation through building resilience & employee engagement
Globally, workers report feeling high levels of change fatigue and stress, with nearly half of employees experiencing increased workloads and the need to adapt to new technologies. This is compounded by ongoing financial pressures and concerns about job security due to recent workplace changes, which are unfolding amid broader global disruptions, including climate change, geopolitical shifts, and the rise of AI. It is evident that leaders play a crucial role in helping employees manage change and stress by prioritising well-being and fostering a culture that supports work-life balance, realistic expectations, and open communication. Also, senior leaders should focus on supporting middle managers, who often face significant pressures, by helping them develop the resilience necessary to effectively lead their teams through complex situations.
Additionally, employees must understand the reasons behind transformation, since this increases their engagement and alignment with the organisation's goals. Leaders must clearly communicate how major trends, like technological disruption, influence the organisation’s strategy and connect this to the changes they expect from employees. While some employees, particularly those familiar with GenAI, anticipate significant change, leaders must engage everyone in their vision to ensure successful transformation. By inspiring employees with a vision for the future and empowering them to contribute through initiatives like citizen-led innovation, leaders can increase their buy-in and drive successful change.
Unleashing the power of GenAI through innovation & confidence
CEOs agree that about 40% of employees’ time is wasted on inefficient administrative tasks, and they believe GenAI could help improve this. Over 70% of employees see GenAI as a tool for learning new skills, enhancing creativity, and improving work quality, with many also expecting it to lead to higher salaries. Over 80% of daily GenAI users expect increased efficiency in the next year, where its true potential lies in driving growth by empowering employees to innovate and experiment with new digital tools. Upskilling everyone on GenAI, regardless of industry or role, is essential to help them optimise work processes and adapt to technological advancements. However, access to GenAI remains a challenge, with some workers unable to use it due to employer restrictions or lack of access. Behavioural changes and collaboration, led by policies and role modelling from leadership are also necessary.
Furthermore, employees acknowledge the risks of GenAI, including concerns about potential bias and misinformation. These concerns are more pronounced among frequent users, highlighting the need for supportive environments with clear governance and Responsible AI strategies. Leaders must actively engage in building trust in AI by prioritising its responsible use and fostering adoption throughout the organisation. This involves ongoing efforts to manage the risks associated with AI, such as implementing human oversight and rigorous review processes. Education and training on responsible AI use are essential for both leaders and employees to detect and address risks. Leaders should also ensure transparency about AI systems, including how they function, and the data and algorithms they use, and involve employees in providing feedback on their experiences with AI tools.
Fuelling performance through the employee experience
To boost employee productivity and engagement, it is crucial to address existing gaps between employees’ priorities and their actual work experiences. Key areas include fair pay, flexibility, and job fulfilment. While 82% of employees consider fair pay vital, less than 60% feel their job meets this expectation. Similarly, employees value flexibility and fulfilling work, but there is a notable gap between these priorities and their current experiences. Employees who feel their needs aren't met, especially in terms of fair pay, are likely to be less engaged and more resistant to change. Competitive wages are crucial as economic stress negatively impacts employees' well-being and productivity. Flexibility and fulfilling work are also important, as they help maintain work-life balance and provide a sense of purpose. Simplifying technology setups, such as using centralised systems and digital assistants, streamline task management which helps employees manage increased workloads and adapt to new technologies more effectively.
Upskilling opportunities are a critical factor for employees seeking to switch employers
Upskilling is highly valued by employees, with nearly half seeing it as a crucial factor in deciding whether to stay with or leave their employer. Employees considering a job change are especially focused on learning opportunities. Many anticipate their job skills will need to adapt in the next five years. However, fewer than half of employees feel their current employer offers sufficient skill development opportunities. Also, many employees have skills not reflected in their current roles or qualifications and believe they could easily find new positions utilising these skills. Therefore, organisations must prioritise providing all employees with opportunities for on-the-job skill development and ensure leaders offer guidance on necessary skills. Additionally, cultivating a learning-focused culture of ongoing education is crucial, as well as leveraging skills inventories which can uncover hidden talent and support a skills-first approach.
An organisation's vision can only be achieved when leaders and employees work together to drive change. This process starts by ensuring that employees understand the importance of change and how they can contribute to it. Inspirational and transparent leadership can motivate employees to be excited about turning the organisation’s vision into reality.
The full report can be found here.
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