Press Conference: The Global Workforce: Empowered but Divided | Davos | #WEF22

TL;DR

The global workforce survey conducted by PwC reveals that a significant number of employees are concerned about job security and are likely to leave their organizations, leading to important workforce trends in terms of job satisfaction, skills development, and workplace culture.

Transcript

hello good morning everyone good to see you um we are here to talk about the global workforce survey um conducted by pwc and then have a broader conversation about what this means around workforce trends and how we should be thinking about this particular moment where there is a lot of conversation about the great resignation about inequality about... Read More

Key Insights

• 🥺 The great resignation and concerns about job security and inequality are leading to a significant number of employees considering leaving their organizations.
• 💦 Rewarded and meaningful work, connected to both personal and organizational purpose, is a priority for employees.
• 😆 Skills development is crucial for employees to feel confident and satisfied in their current and future job opportunities.
• 🦺 Workplace culture and environments that promote safe conversations and respectful dialogue are essential for employee engagement.
• 🔬 The labor market is experiencing demographic shifts, accelerated by technological advancements, and increased employee mobility.
• 💚 The green transition and digital transformation are driving labor market trends and creating new opportunities.
• 💦 The labor market is witnessing a shift towards more flexible work arrangements, driven by employee demand for work-life balance.

Questions & Answers

Q: What are the main concerns expressed by employees regarding their future employment?

Employees are worried about job security, potential job replacement by technology and automation, and their ability to find rewarding and meaningful work.

Q: How does skills development impact employees' confidence and job satisfaction?

Employees who feel they have the necessary skills are more confident to seek new opportunities, negotiate total rewards, and feel a stronger sense of job satisfaction and purpose.

Q: What role does workplace culture play in employee conversations about social and geopolitical challenges?

Employees want an environment that encourages safe conversations about societal issues and allows them to express their opinions and educate themselves. A supportive workplace culture fosters respectful dialogue and engagement.

Q: How are organizations addressing workforce trends in terms of purposeful work and skills development?

Organizations need to reinvent work to provide purpose and meaning, offer skills development opportunities, and create an environment that encourages authentic and transparent communication. Leadership must adapt to lead in a hybrid work environment effectively.

Summary & Key Takeaways

• The survey of over 52,000 workers highlights concerns about job security and future employment due to technology and automation.

• Employees prioritize rewarding jobs that have meaning and contribute to both the organization's strategy and the broader society.

• The survey emphasizes the importance of continuous skills development to increase job satisfaction and confidence in employees.