Workers have become more selective over the past year when it comes to choosing a company to work for—even faced with the prospect of a looming recession.

Randstad, a giant in HR management, found this when it examined 35,000 employees. workers in According to the company, the pandemic reached 34 countries by the end 2022. “left a lasting legacy on workers’ demands on flexibility.”

There is generally a consensus that some form of recession is on the horizon this year for much of the world. But, the labor market is strong. in Many countries are resilient despite fears about their larger economies.

On Wednesday, the survey found that workers These economic uncertainties were taken into consideration. Continue reading than Half of the respondents expressed concern about their ability to secure employment, and only one percent said that they felt this way. in Three said that they worried about being fired.

Participants from Generation Z were more worried about their job security. than There are also other cohorts that contain 43% of the younger generation. workers Respondents were more concerned about losing their jobs than they thought.

In spite of macroeconomic headwinds, Randstad’s poll found that 61% of workers would If they feel it will negatively impact their work-life balance, they may decline an offer. Another third stated that they did not want to accept an offer of employment. would rather be unemployed than unhappy in A job and 42% of respondents said that they had. would quit their job if their boss didn’t consider a request for better working conditions.

However workers Prioritization was given to job security in In considering job changes, it is important to consider the economy, flexibility, and working in a company that values their beliefs. study.

Randstad’s flexible working hours were valued by 83 percent of the respondents in What they were looking for in 62% of respondents cited the importance of parental leave policy as a factor. 76% also referred to training and developmental.

For many, remote work remains a major consideration. workers71% of respondents said flexibility in Working location is a crucial factor. in They are not sure if they would Accept an offer of employment

Half of employees around the world agreed that corporate values are important. would leave a job if they felt like they didn’t belong at The company.

Even more so for Gen Z workers, with 61% saying they wouldn’t work for a firm where they felt out of place.

Two are available. in Five people stated that they believed it. would reject a job offer from a company that didn’t share their social and environmental values.

The cost of living crisis

Inflation reached levels that were unprecedented in recent decades in Many countries had high annual inflation last year. in The U.S. jumped to 9.1% in June, plus more than 10% over several months in The U.K., and the EU.

Many are affected by persistently high inflation. workers have seen their purchasing power squeezed—and according to Randstad’s research, one in Around the globe, four individuals are either looking or have taken up a second job in order to lower their living expenses.

Side hustles are even more popular among Gen Z workers33% of Baby Boomers said they had considered or taken up an extra source of income. Just 17% said that they have done the exact same thing.

Many others were looking for ways to make more money at their job, while 23% stated that they would like to expand their work hours. at Their current position.

A fifth, however, is still available. workers They said that they are considering quitting their jobs to find a more lucrative job. This would help them to cope with rising costs. Again, Gen Z was more likely to consider this. workers.

Rising prices were also a force. workers To rethink their retirement plans. Nearly three quarters of respondents said that their financial situation prevented them from retiring earlier. would Like to.

25% of Boomers stated that they delayed retirement due to their financial situation.

The other half of workers said they thought they’d retire before 65—down from 61% a year earlier.

‘Employers have to step up’

The survey found that employees look to their employers for help in managing rising living expenses.

Nearly 40% of respondents said that they would like a raise beyond the annual review, and 41% stated they desired a monthly increase in their pay.

Nearly a third of respondents said that they would like their employer to offer subsidies for travel, energy and other everyday expenses.

Randstad CEO Sander van ‘t Noordende suggested on Wednesday that employers ought to consider these expectations and demands from the global workforce, as—thanks to a strong labor market— “talent scarcity is here to stay.”

(*3*) he said in A news release was issued on Wednesday.

“The height of the ‘Great Rotation’ may have passed, but companies must step up to expectations if they want to attract and retain their talent,” He added.

(*1*)

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