randstad’s workmonitor report highlights security, flexibility, strong values and financial stability as top employee wants
ATLANTA – March 20, 2023 – For the past two decades, Randstad has served as the voice of the global workforce with its Workmonitor research. Through this comprehensive study, Randstad has captured the sentiment of working people regarding what they want and expect from their employers and also how willing they are to ask for it. The 2023 report suggests that job security, flexibility, strong values and financially stable employment are top of mind for employees across the globe.
These findings come on the heels of 2022 - a year in which the job market was dominated by the worker - and reveal that recruiting great talent requires more than just competitive pay and benefits.
“This year’s Workmonitor findings show that workers want the whole package from their employers,” said Traci Fiatte, CEO of Randstad North America. “The onus is on employers to meet these expectations if they wish to attract and retain the best talent.”
Specific themes from the report include:
Security — Job security is now at the forefront of workers’ minds, with over a third of global respondents expressing worry about losing their jobs. The cost of living crisis is also causing concern for workers, resulting in some taking on new roles or more hours to ensure their stability in the current economic climate.
- In the U.S., over a quarter (26.5%) of respondents said they were worried about losing their jobs. That number rose to 36.6% globally. Economic uncertainty is a significant driver of this sentiment, with 42.5% of U.S. respondents and 52.1% of global respondents concerned about the impact of the economy on their job security. That said, more than half of respondents (56% in the U.S. and 50.4% globally) feel confident that if they were to lose their job, they could find a new one quickly.
Flexibility — Despite macroeconomic uncertainty, workers are still feeling empowered to prioritize work-life balance and flexibility. Many have made the decision to quit a job if it was negatively affecting their lives.
- Similar to last year, flexibility continued to be at the top of employees’ minds as most respondents consider flexible working hours important (82.5% in the U.S. and 82.9% globally) as well as flexibility in terms of location (73.9% in the U.S. and 71% globally). However, only 62.4% of U.S. respondents agreed their job provides flexibility in terms of working hours (56.5% globally).
Values — Alongside worries about job security and the cost-of-living crisis, belonging remains high on the agenda for talent. Workers are still demanding that their employers’ values and purpose align with their own and that they feel like they belong in their workplace.
- Alongside a sense of purpose in individual jobs, an employer’s values and purpose was noted as important for 78.1% of U.S. respondents (77.1% globally). Over 78.2% of U.S. respondents agreed that their employer’s values and purpose aligned with their own (72.7% globally). Additionally, in the U.S. respondents increasingly noted their job gives them a sense of purpose with 60.8% agreement (57.2% globally).
Financially Stable Employment — Workers also expect employers to help them through the current cost of living crisis, whether that’s through increased salaries, subsidies or monthly pay boosts. The pandemic has left a lasting legacy on workers’ demands for flexibility, which remains a key priority for 2023.
- As the economic landscape continues to change, 43.1% of U.S. respondents are looking for an increase in salary outside of the usual cadence (38.6% globally). With hybrid working as the new norm, respondents are looking for a monthly cost of living pay boost (36.2% in the U.S. and 40.9% globally) and subsidies for the cost of energy, travel or other daily expenses (18.3% in the U.S. and 28.3% globally).
These results come from the global Randstad Workmonitor 2023, an annual report that surveys over 35,000 workers between the ages of 18 and 67 across 34 different markets.
For more details on the voice of the global worker, download your copy of the Workmonitor report here.
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 people aged 18–67, employed for at least 24 hours per week (minimum 90%) or sole trader or unemployed but considering looking for a job in the future. Minimum sample size is 500 interviews per market. The Dynata panel is used for sampling purposes.
This survey was conducted between October 18th — October 30th, 2022 in Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, France, Germany, Greece, Hong Kong SAR, Hungary, India, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States of America.
About Randstad
Randstad North America, Inc. is a wholly-owned subsidiary of Randstad N.V., the world’s largest talent company and a partner of choice to clients. We are committed to providing equitable opportunities to people from all backgrounds and helping them remain relevant in the rapidly changing world of work. We have a deep understanding of the labor market and help our clients to create the high-quality, diverse and agile workforces they need to succeed.
Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets, we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com
Randstad's North American operations comprise 7,100 associates and a deployed workforce of 91,100 in the U.S. and Canada. In addition to staffing and recruitment, Randstad offers outsourcing, consulting and workforce management solutions for generalist and specialist disciplines, including technology, engineering, accounting and finance, clinical and non-clinical healthcare, human resources, legal, life sciences, manufacturing and logistics, office and administration and sales and marketing. Global concepts available to North American client companies include RPO, MSP, integrated talent solutions, payrolling and independent contractor management and career transition services. Learn more at www.randstadusa.com or www.randstad.ca.
Media contacts:
Kiara Reynolds-Westry
678.624.2472