According to PwC’s third annual Hopes & Fears Survey, 44 per cent of tech workers plan to ask for a pay raise next year, highlighting the position that wage increases will continue to have a big impact on how companies can retain young workers.
However, salary increases are not enough to retain tech talent. Employees also want more support in implementing environmental, social and governance (ESG) considerations into their work.
Employees also want flexibility in the workplace. More flexibility in the workplace, combined with human-centric work policies can be vital in helping organizations retain talent.
“If the ‘Great Resignation’ has taught employers anything, it’s to not take their workers for granted. Yet many companies risk doing exactly that — whether it’s by not paying close enough attention to skilled workers who are at elevated risk of quitting, or by failing to support workers who seek personal fulfilment and meaning at work. Workers who feel empowered by their current circumstances — i.e. those with specialized or scarce skills — are ready to test the market,” said Bhushan Sethi, PwC’s People & Organization Joint Global Leader.