To cope with rising inflation, seven in 10 workers in the Philippines will seek wage increase in the next 12 months, results of the 2023 Hopes and Fears Global Workforce Survey released yesterday by PwC Philippines.
The Philippine results covering 1,000 respondents also showed 6 in 10 will seek promotion while 29 percent will look for another job as cost of living concerns bite.
The findings are way above the global average of 42 percent for those who will ask for pay hike; 35 percent for those who will ask for promotion and 26 percent who will change employer.
Those who are likely to change employers are more likely to be in the engineering and construction (35 percent) and hospitality and leisure (31 percent) industries.
In the Philippines, employees whose jobs require specialist training are more likely to ask for a pay raise (74 percent) or promotion (62 percent) but are less likely to change employers (27 percent). These numbers are higher compared to those who do not currently work in jobs requiring specialist training.
Filipino employees foresee artificial intelligence (AI) having mostly positive
impacts on their jobs with 46 percent saying that AI will increase productivity and efficiency at work, and 37 percent viewing it as an opportunity to learn new skills
PwC said this opens an opportunity for organizations to harness workforce excitement and lean into GenAI albeit with the right governance in place, as this comes with a responsibility to upskill employees with skills that augment GenAI.
“Generative AI applications entering the workplace brings excitement as it promises efficiency and productivity which is palpable in the survey results. However, considering the other side of the findings, this excitement comes along with concerns such as worries about the need to learn new skills that employees are not confident in having the capacity to do so, and thoughts about AI negatively changing the nature of their work or replacing their role entirely. This is another factor that business leaders should start thinking about and consider in their organization transformation journey,” said Veronica Bartolome, PwC Philippines consulting managing principal.
