workmonitor 2023.

Regardless of whether their job is enjoyable, the majority (72%) consider work to be an important element of their lives. And economic uncertainty has not deterred people from giving up their desire for a healthy work-life balance.

More than half (61%) would not accept a position that would disrupt this balance, and these feelings were particularly strong among those aged 18 to 34 and significantly lower among those aged 55 and over.

A significant portion would quit if they found themselves in a toxic work environment (34%), and an even larger portion (48%) would quit a job if it prevented them from enjoying their private life.

People facing a rapid increase in the cost of living are turning to their employer for help, and help is sought in a number of ways. The most desired form of help is a monthly cost-of-living allowance (41%), followed by a salary increase outside the usual cadence of an annual review (39%).

More than a quarter (28%) wanted help paying for energy, commuting and other daily expenses. Nearly half said they receive some form of help from their company. Some are cutting costs through a hybrid, flexible work schedule, allowing them to cut back on childcare and commuting costs.

A possible global recession is on people’s minds around the world, and this could have repercussions for employers. A growing number of employees said they are worried about losing their jobs (37%) and more than half (52%) are concerned about the impact of economic uncertainty on job security.

Fortunately, an overwhelming majority said they felt somewhat secure, and a quarter said their situation had improved in the six months before they were interviewed. However, almost a quarter (23%) wanted to increase their hours at their current job to help with the rising cost of living.

The challenging economic environment and high inflation are prompting older people to return to work, while others are delaying their exit from the labour market. A significant drop in the number of people who believed they could retire before 65 – from 61% last year to just 51% now – indicates widespread concerns about the future.

26% of those 55 and older said they would not retire. But in an ideal world, 33% of the world's working population would like to retire by age 60, and 8% would like to do so as soon as possible.

In addition to pragmatic expectations, employees continue to want their employers’ values ​​and mission to align with their own. Over half say they would quit a job if they felt they didn’t belong there, especially Gen Z (61%). Two-fifths would not accept a job if it didn’t align with their social and environmental priorities. Interestingly, only 37% would choose not to work at all if they didn’t need the money. An indicator of the growing support for equity, diversity and inclusion in the workplace is that 9% listed training on combating unconscious discrimination in the workplace as one of their top 3 preferred training topics.