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84% say workplace culture improved since start of COVID-19 pandemic: EY report

84% say workplace culture improved since start of COVID-19 pandemic: EY report

According to the EY survey, employees now have greater influence over employment terms and their ‘wish list’ from employers have evolved.

Workplaces changed since COVID-19 pandemic Workplaces changed since COVID-19 pandemic

Workplaces have undergone a significant amount of changes since the beginning of the COVID-19 pandemic. Most employees believe that the culture has improved for the better, showed the recent EY 2022 Work Reimagined Survey. According to the survey, employees now have greater influence over employment terms and their ‘wish list’ from employers have evolved. 84 per cent of employees believe that their organisation’s culture has improved since the COVID-19 pandemic.

The survey showed that 36 per cent of employers want employees to come back to office five days a week, while 27 per cent of employees want to work remotely for less than five days a week. 96 per cent of employers have planned changes to ensure safety and wellbeing of their employees. 

Design: Pragati Srivastava

 

However, more than half of the respondents stated that they are likely to quit in the next 12 months as they desire higher pay, better career opportunities and flexibility amid rising inflation, a shrinking labour market, and more flexible work prospects. 

The survey noted the views of 1,500 business leaders and more than 17,000 employees across 22 countries and 26 industry sectors. In India, 100 business leaders and more than 500 employees responded to the questions. 

Anurag Malik, Partner & India Leader, Workforce Advisory Services, EY India, said, “The EY 2022 Work Reimagined Survey found that over the last one year the labour market changes meant the balance of power has shifted to favour employees. Employees are focused on pay and career growth as primary drivers for job changes. As employers shift gears providing more flexible work options, there is more that they will need to invest in – that includes higher pay and overall brand building of the organisation. Flexible working arrangements which were by far the biggest factors leading to employee moves according to last year’s survey – are now less of a driver given that many are already working for companies that offer flexibility in some form.”

According to the survey Gen Z employees and millennials – 64 per cent – are more likely to quit their jobs. Employees with jobs in technology hardware, telecommunications, and industrial products are more likely to leave. 

A huge number of employers – 96 per cent – agree that they have the agility to respond to new ways of working, while 96 per cent have planned changes to ensure the safety and wellbeing of their employees. Twenty-five per cent of employers are reviewing their criteria for promotion or hiring, and 86 per cent employees believe that their employers have taken steps to ensure a diverse and inclusive workforce. This is significantly higher than the global figure that rests at 65 per cent. 

While various changes are taking place, the main motivation for employees to seek new jobs is the desire for higher pay. Across the world, 24 per cent say that salary increase is the main objective, while 25 per cent are looking for quality of leadership and brand value. Twenty-nine per cent said that they are looking for career advancement. 

The number of employees who believe their organisation’s culture has improved has risen to 84 per cent since the start of the COVID-19 pandemic, but at the same time, employers’ confidence in their own company culture was at 57 per cent.

However, despite the shift towards flexibility, 36 per cent of employers want employees to come back to the office five days a week but 27 per cent employees want to work remotely for less than five days a week. Fifty-three per cent of employees want employers to provide them with the ability to work from anywhere. 

Also read: Over 77% Indian consumers expect their financial situation to improve: EY Report