skip to main content

Over half of workers here plan to switch employer - PwC

Around two thirds of workers here said they planned to ask for a pay rise over the next year compared to around three quarters globally
Around two thirds of workers here said they planned to ask for a pay rise over the next year compared to around three quarters globally

More than half of Irish employees say they plan to switch to a new employer over the next year, according to a survey by PwC.

At 56% of respondents, it is slightly above the global average of 53% who plan to do likewise.

Around two thirds said they planned to ask for a pay rise over the next year compared to around three quarters globally.

However, "finding fulfillment" at work was a more pressing factor for Irish workers with around 73% saying it was important compared to just under 70% globally.

The survey of over 5,000 workers globally was carried out a time of cost-of-living pressures and fears of recession in many economies.

Ireland is said to be facing its biggest decline in living standards since the financial crash due to rising prices, but the economy is expected to continue growing next year, albeit at a slower rate than in recent years.

However, the labour market has remained remarkably tight in many countries, including in Ireland where the unemployment rate stood at 4.3% in August - close to what is considered full employment in the economy.

57% of respondents here said they were just about able to pay all of their bills every month with very little left over.

Globally, that figure came in at just under half.

Nearly one fifth - 17% - of Irish employees said that they are "extremely or very likely" to leave the workforce permanently or temporarily in the year ahead.

Just one in four Irish employees said they were "very satisfied" with their job.

Ger McDonough, PwC Partner for People and Organisation, said there was an onus on firms to develop their employees' capabilities if they wanted to retain them and get the most out of them.

"There is a tremendous need for businesses to do more to improve the skills of workers, while being conscious of the risk of polarisation if opportunities to develop aren’t provided right across society. At the same time, employees are not just looking for decent pay, they want more control over how they work, and they want to derive greater meaning from what they do," he explained.

"These are linked. By acquiring skills, employees can gain the control over the work they are looking for. Leaders have to adapt to build the teams needed to successfully deal with the challenges and opportunities of today and those yet to come," he added.