The world of work is experiencing a transformation driven by the pandemic’s ability to reshape the employment landscape, dominate economic activity and revolutionize the workforce.
That’s according to a recently released global study by ADP Research Institute, which identifies emerging and escalating workforce trends as employers continue to adjust their approach to managing amid changing dynamics. The survey polled more than 32,000 workers from 17 countries and found worldwide consistency of employee sentiment on the transformed workplace.
The study reveals a new prioritization among employees that extends beyond salary and a few perks to a complete package that aligns with their personal values, redefines what job security means, prioritizes their well-being and encourages flexibility. “The pandemic signaled a paradigm shift as today’s workers re-evaluate the presence of work in their lives, and the stakes have never been higher for employers,” said Nela Richardson, chief economist, ADP.
A few key findings:
- Change. Workers are evaluating personal wellbeing and life outside work more than ever before. They are seeking greater remote work options, increasingly interested in a company’s ethics and values — and are ready to go elsewhere if they don’t align with their own.Seven in 10 workers (71%) say they have considered a major career move this year. Feelings toward flexibility and work-life balance are not limited to parents (74%) who would like to arrange working hours to be more flexible; 68% of non-parents have the same concerns.
- Pay equity is important. three quarters (76%) would consider looking for a new job if they discovered their company had an unfair gender pay gap or no diversity and inclusion policy.
- Mental health. Stress is increasing and work is suffering. While workers are surprisingly upbeat surrounding job satisfaction and outlook for the next five years, stress at work has reached critical levels, exasperated by a trend that was already in motion prior to the pandemic. Nearly seven in 10 (67%) workers say they experience stress at work at least once a week, up from 62% pre-pandemic. In fact, one in seven (15%) feel stressed every day. Key sources of stress include length of the working day (28%), problems with technology (26%) and concerns over job security (25%).
- Remote work. Remote and hybrid work are now an established feature of the working world and this shift from the traditional 9-to-5 office-based model cannot be undone. Two thirds (64%) of the workforce would consider looking for a new job if they were required to return to the office full time. Younger people (18-24-year-olds) are the most reluctant (71%) to return to the workplace full-time. If it came to it, employees are prepared to make compromises if it means more flexibility or a hybrid approach to work location with more than half (52%) willing to accept a pay cut — as much as 11% — to guarantee this arrangement.
Was this article valuable?
Here are more articles you may enjoy.