randstad workmonitor, results wave 4-2014 - employee outlook for 2015: increased optimism, focus on employability and getting ready for gen z.

Employees seem increasingly optimistic for 2015: globally 58% believe the economic situation in their country will improve in 2015, according to the latest findings of the Randstad Workmonitor. This is 9% higher than last year when employees shared their thoughts for 2014. Employees in Brazil and India are the most positive (93%); people in France, Luxembourg and Japan the least (31%). Respondents, however, do not see a direct personal benefit of this ‘upswing’ as 52% expect to receive a raise by the end of this year, while this was 64% at the end of 2012 and 58% in 2013.

Employability is key

Employability is one of the buzz words in the world of work. As jobs-for-life cease to exist, ongoing talent development is increasingly important to remain an attractive employee and land the next job. 54% of the respondents say that employers dedicate more time and resources to talent development than they did 10 years ago. India and China rank above 80% on this statement with Greece at the other end of the list at 31%. The focus on talent development is an opportunity for personal growth, says 79% globally. In Mexico and Argentina even 95% agree with this statement.  

Getting ready for Gen Z (age 14-19)

After learning about Gen X and Gen Y, the time has come to prepare for Gen Z. How do existing employees see Gen Z entering the labor market within now and 5 years?

• 70% of the surveyed employees believe that Gen Z is more likely to demand flexible working arrangements than older generations in the workplace.
• Current employees can learn a lot from Gen Z on the use of technology, say 62% globally.
• This is not so much the case for work-life balance, where only 39% of the respondents agree they can learn from Gen Z in this respect.
• In order to enhance collaboration between the generations, 59% of the employers actively promote mentorship: older workers coaching younger colleagues. In the Netherlands (46%), Denmark (43%) and Japan (39%) this is not so much the case.
• Gen Z is found to be a necessity to be truly innovative according to 65% globally. Significant agreement to this statement can be found in Portugal (88%), Brazil (87%) and India (86%). 

Quarterly recurring items

Mobility Index steady at 109

The number of employees who expect to find another job within six months has eased back to 109 from 110 in the last quarter, painting a rather steady picture since early 2012. Underlying, the most significant changes in mobility compared to last quarter are the declines reported in Sweden (-9), Japan (-6), Germany, Malaysia & Slovakia (all at -4). On the other side of the spectrum are increases in mobility in China (+6), Mexico and Poland (both at +4). Mobility was measured in Portugal for the first time, joining the Index at 110.

Actual job change flat at 23%

The number of employees worldwide who actually changed jobs in the last six months remained flat at 23% (compared to 24% in the last quarter). The majority of the actual job changes are people finding a job at a different employer. Actual job change is highest in Asia, and lowest in Belgium & Luxembourg.

The appetite to switch jobs is highest in Sweden and India, and again lowest in Belgium, Luxembourg and also Austria. In India however, the appetite to look for another job did decrease compared to last quarter.

Job satisfaction: again highest in Norway, Mexico and India

Overall, 50% of the countries measured show a high level of job satisfaction: they score 70% or more in the top 2 boxes “very satisfied” and “satisfied”. Job satisfaction slightly increased in Argentina, Hungary and Japan compared to last quarter. Employees in Denmark and New Zealand became somewhat less satisfied compared to last quarter.

The Randstad Workmonitor

The Randstad Workmonitor was launched in 2003, and now covers 33 countries around the world, encompassing Europe, Asia-Pacific, and the Americas. The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time.

The Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six-month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, also employee satisfaction and personal motivation, as well as a rotating set of themed questions are part of the survey.

The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International. Research for the 4th wave in 2014 was conducted October 23 – November 5, 2014.