PwC Romania: Third of employees received a wage hike, but half are still financially stressed
<p>Roughly 32% of employees in Romania say they receive more each month, up from 26% in 2023, but 55% are financially stressed (57% last year), according to the PwC Workforce Hopes and Fears 2024 study.</p>
<p>The accelerated changes in companies and the much higher workload of the last 12 months have led Romanian employees to learn to use new technologies, the same source revealed. According to almost 40% of Romanian employees, the main factors that will further reshape workplaces will be changes in customer preferences and government regulations, followed by the emergence of new technologies such as AI or robotics. </p>
<p>Comparatively, globally, technological changes are at the top of the list of factors that will affect jobs, as mentioned by 46% of respondents.</p>
<p>“Employees have begun to feel more and more pressured by the changes that companies have faced in recent years, which are reflected in efforts to keep up with new technologies, regulations, and other trends in the economy. The good news is that employees are showing optimism and engagement, with most showing readiness to adapt to new ways of working, learn other skills, and use emerging technologies such as GenAI," said Dinu Bumbăcea, Country Managing Partner of PwC Romania.</p>
<p>Most respondents (87%) show that they are ready to adapt to new ways of working and see the potential to use GenAI to increase their efficiency.</p>
<p>However, over a third express fears about their job security. 53% of employees feel confident about job security, but 36% say recent changes worry them.</p>
<p>“GenAI can potentially transform business models and fundamentally change certain industries. Companies need to assess the associated risks carefully and, at the same time, act quickly to take advantage of the opportunities. However, this approach can succeed only if employees are involved. Cultivating transparency and trust in the implementation of GenAI strategy can help employees feel encouraged to experiment and ultimately innovate with this technology," explains Daniel Anghel, Partner and Leader Tax, Legal &amp; People, PwC Romania.</p>
<p>A third of employees and about 40% of CEOs (according to the PwC CEO Survey) believe that the time spent on administrative activities is inefficient and agree that GenAI could help them save time.</p>
<p>However, the use of GenAI in the workplace is not yet widespread. While 51% of workers say they have used GenAI at work at least once in the last 12 months, only 5% use it daily and 13% weekly.</p>
<p>In this context, only 27% of Romanian respondents expect GenAI to fundamentally change their profession within five years, compared to 40% globally.</p>
<p>Upskilling has become very valuable to employees, who consider it a differentiator for the company. About 60% of respondents say that their employer provides adequate opportunities to acquire new skills useful in their career, and 46% say that these opportunities are a key factor when deciding to stay or leave for another job.</p>
<p>In addition to the changes felt over the past 12 months, employees have other concerns. Although they have more financial security than last year, most are stressed about money because while they can pay their bills, they do not have enough left for savings, vacations, or extra expenses.</p>
<p>The main factor that motivates employees is still fair pay based on performance. Of the 86% of respondents who rated it very and extremely important to be paid fairly, 72% reported that their current job offers them satisfactory remuneration. Employees also found satisfying, collaborative, and flexible work very important.</p>
<p>Professional satisfaction increased slightly, from 53% in 2023 to 59% of employees satisfied this year. However, 20% of respondents expressed the intention to change employers, compared to 18% in 2023.</p>
<p>The PwC study is based on responses from 56,000 employees worldwide, including 500 in Romania.</p>
<p><em><a href="mailto:radu@romania-insider.com">radu@romania-insider.com</a></em></p>
<p><em>(Photo source: Monkey Business Images | <a href="https://www.dreamstime.com/">Dreamstime.com</a>)</em></p>