work monitor - Q2 2013

Chennai 24th July 2013: The latest Randstad Workmonitor shows both young and mature workers struggle in finding a suitable job, with 66% of Indians saying it is hard for younger workers aged 25 years and below, to find a suitable job and 79% forced to take a job below their education level. Over three-fourth (79%) of survey respondents say it’s difficult for older workers to find a suitable job and 71% of them believe, older workers are often forced to take jobs below their education level. 

The survey also shows that education alone may not be enough to land many younger people their first job, with 82% of Indians saying experience is a more important factor in hiring Gen Y employees than education. 

Also, 72% of respondents are willing to move to another country for the right job in comparison to the world average which is 47% according to Randstad India’s recent Workmonitor survey. Workmonitor is a quarterly review that tracks jobseekers confidence and provides a comprehensive understanding of job market sentiment and trends relating to the employment market across 32 countries. 

Commenting on the findings, Mr Moorthy Uppaluri, CEO, Randstad India said, "It is an interesting dilemma where companies are unable to find the right talent and candidates are unable to find a suitable job. India Inc should invest in ensuring there is a right job – candidate fit and have robust training programmes to drive employee performance. Such measures will help companies remain attractive for the workforce in the long term." 

Moorthy further added that, "Organisations and job seekers are keen to find a right mix between experience, education and job match. Though current recruitment practices are increasingly aligned towards relevant experience, as India moves up the value chain, there will be quite a few roles requiring specific skills backed by relevant education and training". 

Other Key Findings: 

Experience Vs Education & Job outlook for young and old people:

  • In India, 91% of the respondents feel that experience counts more than education in finding a suitable job, which is slightly higher in comparison to the world average of 81%.
  • Also, this is true for younger people as well, where, 82% of the respondents have said that experience weighs harder than education as compared to the rest of the world 69%.
  • In India 84% of the respondents believe that it is good for the company to actively recruit younger people aged below 25.
  • 79% of the surveyed respondents felt that it is difficult for older people to find a suitable job. This is less compared to the world average of 89%.
  • About 72% of the women respondents said that it is a little difficult for young individuals to find a suitable job while only 61% of the men agreed on the same.

Migration to other country for Job:

  • 73% of the employees surveyed are willing to move to another country for the right job, which is well above the world average of 47%.
  • By age, relatively fewer older people (45 years & above) are inclined to move to another country for the right job than younger people.
  • The survey also indicates that employees with lower education (88%) and high qualification (73%) are inclined to move to another country in comparison to employees with middle level qualification (56%).

Job security Vs Salary:

  • In India, the preparedness of employees to exchange a part of their salary in return for securing the position is significantly high (69%) in comparison to the world average (39%).
  • Interestingly, this inclination is higher (75%) among employees in the age group of 25 to 34 years. A majority of the mature employees are not keen to exchange a part of their salary to secure their position, which implies that their experience is invaluable.
  • In the rest of the world, it is the reverse, where a majority of the employees would not be willing to compromise a part of their salary to secure their position in the company.

Views about Temporary Job:

  • Of the respondents surveyed, 76% preferred to have a temporary job than stay without any job, which is lesser, compared to the world average of 88%.
  • A majority of the respondents have said that they would use a recruitment firm also to find a job with a higher proportion in India (85%) than the rest of the world (77%).
  • In India, 59% of the employees feel that temporary work is for young people whereas only 43% of the employees in rest of the world feel so. Interestingly, more female employees feel that temporary work is for young people (67%) as compared to male employees (54%).
  • About 75% of the employees with lower educational qualification felt that temporary work is only for young people compared to those with mid (49%) or high education (60%).
  • By Income, a majority of those in the lower income level believe that temporary work is for young people.

Mobility Index:

  • Amongst all the countries surveyed, India has the highest index of 147. This is in line with the findings that emerged in all the previous thirteen quarterly surveys conducted since Q1 2010, though it has come down by 3 points from previous quarter (150). While the finding per se is not new, its consistent trend over thirteen surveys confirms that the war for talent continues to be a major challenge for organizations in India. Malaysia and Brazil follow India with indices of 138 and 134 respectively.

About Workmonitor
The Randstad Workmonitor was launched in 2003, and now covers 32 countries around the world, encompassing Europe, Asia Pacific, and the Americas. The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time. 

The Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six-month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, also employee satisfaction and personal motivation, as well as a rotating set of themed questions are part of the survey. 
The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International. In India, more than 600 interviews were conducted.

About Randstad India

Randstad India offers the broadest HR services portfolio ranging from Staffing, Search & Selection, HR Solutions and In-house Services. The organization has a vast network of offices across the country to be within the reach of clients, candidates and flexi workers. The company, previously called Ma Foi is a leader in the HR services industry in India for the past 20 years and became part of Randstad through its global acquisition of Vedior in 2008. Randstad is the global #2 HR services provider active in 39 countries across the globe. Randstad India continues to focus on developing customized and innovative HR services, leveraging on its unique strengths of geographical presence and end-to-end capability across all HR service functions. 

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About Randstad 

Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. The Randstad Group is one of the leading HR services providers in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States as well as major positions in Australia and Japan. 

n 2012 Randstad had approximately 29,300 corporate employees and around 4,500 branches and inhouse locations in 39 countries around the world. Randstad generated a revenue of € 17.1 billion in 2012. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. 

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For more information please contact: 

Srivathsan S. 
Randstad India 

Arjunan Ramakrishnan 
Mob: 9381290284