A quarter of Luxembour workers ready to resign and change jobs — PwC
Luxembourg labor market is at risk due to the “big resignation”, according to the auditor PwC. This is an unorganized, but massive worldwide movement of workers. Workers that are a part of it are extremely dissatisfied with their work. Yet almost never express it. However, any sudden factor can provoke them to resign. Usually this is a surprising move for both their colleagues and the employer.
The phenomenon originated in the USA. There, the “big resignation” has swept 48 million workers in 2021. In 2022, 4 million people are choosing to resign every month. Now the epidemic has spread to Europe. In Belgium, 13% of workers want to quit their jobs, in France it’s 15%. And in Luxembourg a shocking 25%.
So, every fourth worker in Luxembourg wants to quit and change employers within the next 12 months. These are the results of the PwC study, which involved 1,200 employees of various companies in the country.
Why resign?
Why is the Grand Duchy at risk? The labor market in the country is very demanding, experts say. And the prices for housing, transport and other services are high. These factors add up to a very unpleasant picture for the employee. Heavy workload and stress are combined with insufficient wages for a high standard of living.
Often an employee asks for a pay rise. And if it’s denied, he resigns and looks for a more profitable opportunity. Mostly in another company within the country.
According to a Luxembourg recruiting expert Nathalie Delebois, the “big resignation” is also a generational phenomenon. Young people in the labor market simply do not want to work by the old rules. Therefore, for example, the HoResCa sector suffers. There are not many people willing to work on weekends every week.
The recruiter also worries that the lack of good remote work options will force workers from abroad to resign. For example, it would be easier for an accountant from Metz to work in a Paris bank. As long, as it allows working from home. Cross-border workers can be motivated to move to Luxembourg. However, this requires affordable housing, and there is still little of it in the Grand Duchy.
The labor market in Luxembourg is really going through difficult times right now. The National Employment Portal ADEM registered 13.5 thousand vacant jobs in the country. For the Grand Duchy, this is a disappointing record.
