Randstad Workmonitor Survey  

Bangalore, 4th February, 2016:  In the latest findings of the Randstad Workmonitor survey, an overwhelming 78% of the respondents indicated that there is an increasing need for professionals in the STEM (Science, Technology, Engineering and Math) domain. The survey also revealed that 89% of the respondents believe that more students should focus on a career within STEM to find a steady career path. 

A vast majority of the survey respondents (89%) also agree that their employer should invest more resources in developing digital skills, thus highlighting that social and digital literacy are becoming major must-haves for new age employees. Additionally, 87% of the survey respondents also indicated that if they were 18 years old again, they would opt for a study field within STEM and an even higher percentage (89%) mentioned that they would focus on a study field within digital/online. An almost equivalent number of male and female respondents (more than 85%) agreed with the above two statements. 

Digitalization and automation 

Interestingly enough, with regard to the digitalization in their job, a whopping 90% of the survey respondents from India mentioned that they feel equipped and confident to deal with this trend. However, only 69% expected that their job will be automated within the next 5 to 10 years.

Talent sourcing remains challenging

Finding the right talent remains an issue for employers across the country. 62% of the respondents felt that their employer has trouble in finding the right talent today and 61% even expect it to become increasingly difficult for their employer to find the right talent in the future as well, thus reinforcing the impact of the new war for talent that is continuing to be a serious impediment to India Inc. today. 

General outlook on economic and financial situation in 2016

The survey also revealed the positive sentiments among Indian employees for 2016: A staggering 90% felt that the economic situation in the country will improve further in 2016. 86% of the respondents indicated that their employer performed better financially in 2015 than in 2014 and a vast majority (94%) also mentioned that they expect their employer to financially perform even better in 2016, thus reflecting the upbeat mood in the economic environment. 

40% of the survey respondents from India also mentioned that they strongly feel the urge to start doing something completely different in terms of their work/career, indicating the fact that today, the expectations of the workforce have grown manifold to include varied experiences, on-the-job learning opportunities and a career track record that includes experience from various industries, roles and responsibilities that’s outside their comfort zone. 

Presenting the survey insights, Dr. Moorthy K. Uppaluri, MD & CEO, Randstad India said, “India being a growing knowledge economy, the rise in demand for STEM professionals is nothing new. Traditionally, India has been producing a lot of graduates in the STEM domain, with around 40% of the total graduates passing out from colleges each year with a STEM specialization. However, the priority of India Inc. is to ensure that the quality of talent being churned out is high and they are employable. The current scenario presents a convincing case for private-public partnership through industry-academia collaboration to enhance employability of the talent, thus addressing the issue at the grassroot level. Randstad’s comprehensive portfolio of recruitment services and expertise in the industry enables us to source the right candidates for the right jobs, with the necessary domain skills, thereby fulfilling the rising market demand for such qualified talent across industries.  

We are in an era where digital and social skills are becoming ‘hygiene factors’ and a basic expectation from every employer. However, a deeper expertise in these domains will set you apart and get you in the game which our survey results clearly reflect”.
 
“Another important factor to be considered is the general upbeat mood present in the job market. The New Year promises to be fulfilling in many aspects. India is on an economic upswing owing to several reasons – key business oriented reforms initiated by the government; improved investor sentiments; relaxed FDI norms in major sectors and an increased focus on ease of doing business. The overall market perception is very positive and this means more jobs and more opportunities for growth in specific domains more than others. Companies are going all out to ensure that they acquire, nurture, and retain skilled talent. The Indian job market is already charged at the beginning of 2016 and we expect this to sustain in the near future as well”, Moorthy added.

Other key findings from India:

Job Satisfaction Level:  77% of the respondents surveyed expressed a satisfaction with their respective employers in India; however this number dropped from last quarter. 

Likelihood of Job Shifts: The appetite to change jobs (applying and actively looking) dropped to 25% in India (compared to 34% last quarter). Almost 50% of the respondents are passive job seekers. 

Actual Job Change: This quarter, the survey reflected the highest actual job change in India. 45% of the survey respondents from India mentioned that they have changed their jobs in the last six months.  This trend is reflected really high within employees in the age group of 35 - 44 years (60%) followed by employees within the age group of 25 - 34 years (55%).  59% of the female respondents mentioned that they changed their jobs in the last six months, however only 45% of male respondents indicated this. 51% of the respondents indicated better employment conditions as the primary reason for their job change. 

Job Loss Fear:  Among Indian employees, the job loss fear has decreased to 17% over the last quarter, indicating growing confidence among them.

Focus on Promotion: The survey indicated that 58% of female employees have a strong focus on getting a promotion; however only 48% of the male respondents indicated this. 

*Mobility Index: India’s mobility index dropped to 147 from 154 reported in the previous quarter.