Changing jobs and upskilling are on the agenda for Canadian workers as finances take centre stage
Canadian workers are looking to employers to help them navigate the rising cost of living and are willing to quit if necessary.
A report from PwC Canada shows that almost one in four Canadian workers (23%) are likely to be looking for a new job in the next year, up from 16% from last year, and 42% of Canadian employees say that while their household can pay its bills, they have nothing left over for savings, although this is slightly above the global average of 38%.
Higher salary tops the motivators for seeking a new job in a separate report from Robert Half Canada with 55% looking for a bigger pay cheque, 28% wanting better benefits or perks, and 26% wanting remote work options. Almost two thirds of Gen Z poll participants are likely to be job searching before the year’s out.
What about AI?
While paying bills is an immediate concern, Canadians’ longer-term career concerns – and how that impacts their finances - are also highlighted in the PwC report.
Having the right skills for evolving roles is paramount and workers struggling financially are also less able to meet the challenges of the future including the need to develop new skills and adapt to the rise of AI.
For those already struggling to pay bills, 62% are less likely to be actively seeking out opportunities to develop new skills than those who can pay their bills comfortably (50%).
Those workers who are more financially secure are more likely to seek feedback at work and use it to improve their performance (57%) than those who are struggling financially (45%).
The report warns that many Canadians may be unaware of the changes ahead in the workplace and the skills they will need.
Not that the outlook is negative.
More than half of employees globally expect to see some positive impact of AI on their career over the next five years, with nearly a third (31%) saying it'll increase their productivity/efficiency at work. Many workers also view AI as an opportunity to learn new skills (27%).
