randstad workmonitor, results 1st quarter 2017: being an entrepreneur is considered attractive, but actually becoming one, seems a step too far.

As being your own employer provides more opportunities, 53% of the global respondents say they would love to be one according to the latest Randstad Workmonitor. However, actually leaving their current job to become an entrepreneur is a total different thing, as 73% does not consider doing so. Especially people in the age of 45-54 (58%) and 55-67 (67%) are hesitant to start their own business. That number changes, however, if people actually would loose their job. In that case 47% of the total respondents indicate to consider starting their own business.

Part of the respondents would love to become an entrepreneur, but they think that the risk of failure is too big. 57% of the global respondents say so. When looking at the difference per age group, younger respondents and men are more afraid to fail than older respondents and women: 

Entrepreneurial climate

Of the global respondents 56% feel the country they live in is a good place to run a startup and 50% believe that the government in their country actively supports new startups. Overall, 75% agree that due to globalization, small businesses have a hard time surviving.

Small/medium-sized company, multinational or startup

Of the global respondents, 64% prefer to work for a small or medium-sized enterprise or a privately-managed company whereas 55% prefer to work for a multinational. In the latter case, the division between men and women is bigger as 58% of the men prefer a multinational and of the women only 51% do so.

50% of the global respondents say they would like to work for a startup of which 55% men, and even 65% in the age group 18-24. Of the women only 44% would like to do so and age does not really affect their opinion.

Quarterly recurring observations

Mobility Index back to 110

Apparently more employees worldwide expect to be employed elsewhere in the coming six months than they did in the previous quarter causing the Mobility Index increase to 110 again. Mobility is highest in Sweden (+8), France (+7), Greece, Japan and India (all +6). The biggest decreases are in China (-7), the UK (-6), and Hungary (-5). Per Sunnemark, Director Staffing, Randstad Sweden clarifies: “According to Almega, the Employers Organisation for the Swedish Service Sector, the increased staff turnover depends on difficulties for companies to recruit and to find competence on the Swedish labor market. This leads to higher competition after competence among the companies, increased staff turnover and job mobility. People are getting more offers and will change job more often.”

Actual job change slightly up to 23%, again highest in India

Actual job change is slightly up again and is now 23%. The actual job change increased in Brazil, the UK and Turkey compared to last quarter. In Canada , France, Japan, Malaysia, and Singapore the job change decreased compared to last quarter. And, down from 10% to 8%, actual job change in Luxembourg is – for the sixth quarter in a row – again the lowest. 

Appetite to change jobs still highest in India

Compared to last quarter, the job change appetite, i.e., the desire to change jobs, increased in Japan, Poland, Portugal and Singapore. Compared to previous quarter the job change appetite decreased in Argentina, China, Malaysia, Spain, and Sweden. And in accordance with the actual job change, the appetite to change jobs is still lowest in Luxembourg.

Job satisfaction still highest in Mexico and the US

Compared to last quarter, job satisfaction increased in Japan, Poland, Portugal, and Singapore. Job satisfaction decreased in Argentina, China, Malaysia, Spain, and Sweden and is the lowest in Japan and Hong Kong.  

The Randstad Workmonitor

The Randstad Workmonitor was launched in the Netherlands in 2003, then in Germany, and now covers 33 countries around the world. The last country to join was Portugal in 2014. The study encompasses Europe, Asia Pacific and the Americas. The Randstad Workmonitor is published 4 times a year, making both local and global trends in mobility visible over time.

The Workmonitor’s Mobility Index, which tracks employee confidence and captures the likelihood of an employee changing jobs within the next 6 months, provides a comprehensive understanding of sentiments and trends in the job market. Besides mobility, the survey addresses employee satisfaction and personal motivation as well as a rotating set of themed questions.

The study is conducted online among employees aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). Minimum sample size is 400 interviews per country. The Survey Sampling International (SSI) panel is used for sampling purposes. The first wave of 2017 was conducted from January 13-29, 2017.