Quit rates had declined to 2019 levels in April 2023 after the mass turnover of the Great Resignation, however, PwC data indicates that the desire to quit the job has moved to a different end of the corporate hierarchy — unspecialized workers.
The study done by PwC has found that more than one in four unspecialized office workers i.e. 26% such as administrative assistants, etc. are willing to change their jobs in the coming year, which is up from 19% last year. The research was undertaken on 54,000 workers across 46 countries and territories to understand the attitudes toward artificial intelligence and economic change. The study also found that the specialization gap if not addressed on a timely basis can make workers who lack advanced training skills feel vulnerable to quitting their jobs and financial challenges.
Inflation rates and unstable economic conditions are also a few reasons why this group of people is feeling pressured at a financial level. One in five respondents shared how they have to take up a second job to supplement their income not to learn new skills but out of financial necessity. The study also found that workers had a side hustle to support their basic necessities, which was a surprising figure.
The economic burden is one of the most pressing challenges for minority groups and the struggling workers in the study are a sample of people from almost all demographic categories. In the next year, unsatisfied office employees plan to quit their jobs and on the other hand, artificial intelligence will be upscaling itself, thus making it difficult for workers to learn any new skill.
Workers who are presently in financially trying times are also said to be the losers of the AI and automation waves in the coming future. 15% of the employees with no specialized training agreed that their work’s nature will change majorly in the next five years, which is in comparison with 51% of workers with specialized skills.
This difference only widens the specialization gap by demotivating potential job seekers from learning new skills and allowing them to remain talented and efficient in their job roles or at least search for better opportunities. Company leaders should also encourage their workforce to remain relevant in the future by equipping them with the right skills. However, a third of employees say that they don’t think that their company will be economically viable in the coming ten years.
It means that leaders should be willing to reorganize themselves, their work, and their company so that they can uplift their employees by increasing their salaries or giving them training opportunities in skills that AI cannot intervene or replicate. Leaders should be willing to give equal opportunities to all and develop teams that are willing to learn and adapt to the changing conditions, suggested the report. Artificial Intelligence is definitely a threat to jobs but its introduction in the market has discouraged so many employees to quit their jobs and stay at home.