What are working people worried about, and how satisfied are they with their jobs and their companies? The third edition of the PwC’s Global Workforce Hopes and Fears Survey 2022 addresses these and other questions. With 52,000 employees surveyed across 44 countries, it is one of the largest studies ever carried out worldwide on the labour market. The findings for Switzerland are sometimes surprising: one in five employees intends to change jobs within the next 12 months. Job satisfaction is lower than the global average, as is the ability to work remotely. On the other hand, respondents place similar importance on employer commitment and transparency around sustainability, diversity and inclusion.
Swiss employees are comparatively less satisfied with their current jobs than their counterparts abroad (50% versus 57%). Nearly one-fifth of respondents plan to change jobs in the next 12 months. The reasons cited for moving are higher pay and/or more fulfilling work (67%). “Comparatively, job satisfaction is somewhat lower in Switzerland, which is surprising,” says Andreas Staubli. However, the CEO of PwC Switzerland is reluctant to sound the alarm: “Half of employees enjoy their work.” Two factors play a decisive role in professional life, in Switzerland as elsewhere: fairness and personal fulfilment. “The main incentive to change jobs is fair compensation. In addition, it is important for employees to have work that allows them to fulfil themselves, without fearing disadvantage or discrimination,” he adds. “Employers would do well to adapt to changing needs and factor them into the design of their human resources strategy.” The results show that a wave of resignations, such as the one currently being seen in Anglo-Saxon countries, could also hit Switzerland. “Companies should therefore consider different staffing scenarios as early as possible, so they can respond flexibly to changes in the labour market.”
The issue Swiss companies can no longer ignore is flexibility in where and when people work. According to the study, four out of five respondents (78%) would like to be able to work fully or partly remotely over the next 12 months. Internationally, however, teleworking is still less widely available in Switzerland (45% versus 54%). “These figures reflect a trend we have been observing abroad for a long time and which has also strengthened in Switzerland following the coronavirus crisis,” Andreas Staubli notes. Hybrid work is here to stay: “I believe this will remain employees’ preferred form of work.” Against the backdrop of skilled-labour shortages, employers would therefore be wise to implement hybrid work models. “That is the only way to remain attractive to young talent.”
The study reveals a gap between genders and generations. Women, overall, feel less well paid than men (7 percentage points). The PwC CEO notes: “But they are also 7 percentage points less likely to ask for a pay rise.” The likelihood that they will ask for a promotion is also 8 percentage points lower. This is hardly surprising: women are less likely than men (down 8 percentage points) to feel that their superiors listen to them. The study’s findings are borne out in the labour market: according to PwC’s Women in Work Index, women in Switzerland in fact earn 17% less than men. “The main reasons are lower female labour-force participation and the increased burden of unpaid childcare during the pandemic,” explains Andreas Staubli. He adds: “Every employer should promote equal opportunity and equal pay, because talent has nothing to do with age, gender, nationality, disability, sexual orientation or other individual characteristics.”
Views also differ across generations: Generation Z employees are less satisfied with their jobs and are twice as likely as baby boomers to fear losing their jobs because of technological advances over the next three years.
Employees place particular importance on their employer’s contribution to the economy, climate and society. Some 43% of respondents believe it is important for their company to communicate transparently about the environmental impact of its activities. “Companies are under pressure in this area and need to do more,” the CEO says. Two-thirds (53%) hold the same view on health and safety. Efforts in diversity and inclusion are seen as essential by 42% of those surveyed. Compared with abroad, these numbers are lower across the board. But appearances can be deceptive. “It is not that Swiss employees care less about transparency; rather, the conservative mindset in the labour market is causing this trend to lag, just as with hybrid forms of work,” he concludes.
The data for the PwC’s Global Workforce Hopes and Fears Survey 2022 were collected in March 2022. To this end, 52,195 working people in 44 countries and regions around the world were surveyed. The Swiss sample includes 1,043 respondents. It was designed to reflect a range of sectors, demographic characteristics, working patterns and Switzerland’s share of global GDP. Study participants are divided into Generation Z (18–25), millennials (26–41), Generation X (42–57) and baby boomers (58–76).
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