- Employers face pressure as 70% of all workers are open to new job opportunities with nearly a third of young people (32% of Gen Z and 28% Millennials) actively looking for a move
- Gen Z and Millennials prioritise their happiness, as over half (56% of Gen Z and 55% of Millennials) said they’d quit their job if it was preventing them from enjoying life, compared to just over a third (38%) of Baby Boomers
- Younger generations want their personal convictions to align with their employer’s, with nearly half of both Millennials (48%) and Gen Z (49%) saying they wouldn’t accept a job that didn’t align with their values on social and environmental issues compared to just over a third (35%) of Baby Boomers
Randstad’s latest Workmonitor – one of the longest-running and largest studies of its kind, surveying 35,000 workers across 34 markets – has found that Gen Z and Millennials are driving a revolution in the employee-employer dynamic, intensifying the pressure on employers amid talent scarcity.
great resignation shows no sign of slowing
The survey reveals that the Great Resignation shows no signs of slowing, as 70% of all workers are open to new job opportunities and nearly a third of the young people surveyed (32% of Gen Z and 28% of Millennials) are actively seeking a new role.
While workers don’t lack loyalty, with a majority (60%) saying they feel committed to their employer, nearly half (49%) feel that if they were to lose their job, they’d be able to find a new one quickly, showing their confidence and comfort in the current job market.
but employers aren’t keeping up with talent demands
Amid growing expectations, employers are struggling to fulfil talent demands. Despite 83% of employees saying flexible hours are important to them and 71% saying the same for flexible locations, half of the global workers (53%) feel they don’t have any flexibility in terms of where they work and two in five (40%) can’t control their working hours.
What’s more, in the last 12 months:
- Only a third (36%) of global workers have received an increase in the remuneration package
- Only a quarter (22%) of people have received increased benefits (annual leave allocation, healthcare, pension etc.)
- Only a fifth (19%) have received increased support for families and dependents (childcare support, parental leave, carers’ leave)
- Only a quarter (25%) have received increased training or development opportunities
younger generations prioritise their values when making career decisions.
Younger people are also forcing businesses to put purpose and values at the heart of what they do, as they want their work to align with their personal convictions:
- Nearly half of both Millennials (48%) and Gen Z (49%) wouldn’t accept a job with a business that doesn’t align with their values on social and environmental issues compared to just over a third (35%) of Baby Boomers
- A similar amount (49% and 46% for Gen Z and Millenials respectively) said they wouldn't work for a business that wasn’t making a proactive effort to improve its diversity and equity compared to a third (33%) of their older counterparts
- Two in five (42% for Gen Z and 40% for Millenials) wouldn’t mind earning less money if they felt their job was contributing something to the world or society, compared to only a quarter (25%) of Baby Boomers
full results by age group
For further information go to:
about the randstad workmonitor
The Randstad Workmonitor was launched in 2003 and now covers 34 markets around the world. The study encompasses Europe, Asia Pacific and the Americas. The study is conducted online among employees aged 18 to 67, working a minimum of 24 hours a week in a paid job (not self-employed). The minimum sample size is 800 interviews per market. The Dynata panel is used for sampling purposes.
This survey was conducted between February, 21st - March 13th, 2022 in the USA, Canada, Austria, Belgium, Denmark, Germany, Luxembourg, Norway, Sweden, Switzerland, the Netherlands, UK, France, Greece, Italy, Spain, Portugal, Australia, China, Hong Kong SAR, India, Japan, Malaysia, New Zealand, Singapore, Czech Republic, Hungary, Poland, Turkey, Romania, Argentina, Brazil, Chile and Mexico.
about randstad australia
Randstad is a global leader in the recruitment and HR services industry. The company's Australian business has been supporting people and organisations in realising their true potential, helping find the best permanent and contracting talent across industries. Human connection is at the heart of the business.
A personal approach, supported by state-of-the-art technology, is what sets Randstad apart in talent acquisition. Randstad is uniquely Human Forward.
Visit www.randstad.com.au to discover a new way to recruit.
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