The rising cost of living is taking its toll on employees in Canada, who are experiencing financial difficulties as well as struggling to manage heavy workloads. This seems to make the phenomenon of “the great resignation” persist, according to PwC Canada’s annual survey.
Almost one in four Canadian employees is likely to change their employer in the next year, according to the survey of 2,000 workers in Canada and nearly 54,000 worldwide. According to Jorj Helou, CHRP, the “great resignation” phenomenon is synonymous with loyalty to the organization.
“When we recognize that salaries are not up to par, that the pressure at work is increasing due to a lack of human resources, and that the work climate is too demanding and stressful, we’re no longer surprised to keep hearing about the great resignation,” analyzes Jorj Helou.
The expert believes that the theory of American psychologist Frederick Herzberg explains this topic, as it distinguishes between hygiene factors (remuneration, working conditions) and commitment factors (interest in the nature of the work, autonomy). “Herzberg explains that, despite all efforts to develop engagement factors, if only one of the hygiene factors is unmet a disconnect between the employee and the organization is created, and therefore an intention to find another job.”
Also according to the PwC Canada survey, nearly half of working Canadians say that, even if their household can cover expenses, there's nothing left over for savings. What’s more, scarcely 22% of those surveyed said their workload was often or generally manageable over the past 12 months. These statistics reflect the intensity of the pressures experienced at work.
A relatively new disruptive factor is being singled out: the growth of generative artificial intelligence (AI). This is already causing changes in the labour market.
On a global scale, younger generations are more optimistic about the impact of this technological evolution. More than half of employees expect AI to have a positive impact on their careers over the next five years, and almost a third believe it will increase their productivity and efficiency at work.