a Foi Randstad, India’s largest HR services company, part of Randstad, world’s second largest HR services company released the first wave of their Ma Foi Randstad Work Monitor.
The Ma Foi Randstad Work Monitor is a quarterly review of “mental mobility status” of employees i.e. their readiness to change jobs. As part of this process, the state of mind of workers is studied in 23 countries across 5 continents, compared amongst countries and finally presented in the form of an index. The index shows the extent to which employees are thinking of changing their jobs in a short-term while compared to other countries in the world.
Apart from the Mobility Index, the survey deals with trust of employees in the job market, fear of job loss, job change and readiness to change in job. In addition to these 4 aspects, the survey also covers related aspects like satisfaction levels and personal motivation levels of the employees.
Below are some of the key insights from the Work Monitor:
Mobility index:
India’s mobility index is 140 and the highest in the world followed by Mexico, China and Turkey. And the lowest mobility among Luxembourg, Italy and Hungary. This index shows that Indians are most open about shifting their jobs in the next 6 months.
People in the age group of 35 to 55 are comparatively less open about a job change. This trend is quite different in countries like China and UK where the highest mobility is in the age group of 25 - 34. For Germany and the US, we see high mobility index amongst age group of 18 – 24.
Again, highly qualified people have exhibited lesser mobility than others in India. This trend is different in countries like UK, US and Germany.
Employees in the salary bracket of Rs. 5 – 10 lacs are the least mobile in India while in the US; the professionals in junior to mid career (USD 45000 – 50000 salary brackets) levels are the most mobile. Similarly, in the UK, mid to senior level professionals (GBP 52000 – 87000) are highly mobile.
Employees in Bangalore are the most mobile in India which means that they are most open for a job change in the next 6 months.
Factual job changes:
The 8 reasons for employees looking for change. These are - organizational circumstances, better employment opportunity, personal desire for change, personal ambitions to get into senior levels of management, personal ambitions in specific areas, personal circumstances, dissatisfaction with present employer and employer being dissatisfied with employee.
Mobility in the last few months was largely affected due to economic crisis. There has been extremely limited movement due to lack of better opportunities in the market. For most of the young employees, mobility has been due to their personal desire for better careers and ambition; dissatisfaction with the present employer played a lower role in their mobility.
In the recent past, most people in the age group of 25 to 34 have changed jobs for better employment opportunities.
Looking at a salary wise comparison, the major reason for job change in the higher income brackets is due to organizational circumstance.
Trust in market conditions:
Over 80% of the Indians are certain about finding a different job in the short-term. The people aged 25 to 44 are confident of finding jobs in the short-term. However, the younger people in the age group of 18 – 24 exhibit slightly low levels of confidence.
In the US, confidence level of people in age group of 25 – 44 is the highest. And in the UK, the confidence is high for the age group of 18 – 34.
People in the private sector are more confident of finding jobs within or outside their industry compared to those employed in the govt sector.
Fear of job loss:
The economic climate over the past few months has led to a greater fear of job losses across the globe and it is more common in the western world.
15% of the employees are more frightened about the job loss. And an additional 57% exhibit partial fear. This situation has been unprecedented in India.
Interestingly, China shows similar figures too. In countries like US, UK, Germany where job losses are not a new phenomenon, 7% to 10% of the workers are certain about losing their jobs in the short-term.
City-wise comparison in India show that people in Chennai are the most frightened about the job loss. People in the age group of 35 – 44 fear the most about job losses and people with mid-level qualifications (typically graduates and undergraduates) are more worried about losing the jobs than the others.
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