- dynamics between talent and employers have shifted, given the talent scarcity.
- a third of the young people are actively looking for their next career move.
- 28% of Greek employees would prefer to be unemployed than unhappy in their job.
The latest Workmonitor survey reveals that the Great Resignation shows no signs of slowing down, as 74% of all workers are open to new job opportunities and nearly a third of the young people surveyed in Greece (28.4% of Gen Z and 28% of Millennials) are actively looking for their next career move. As we enter the pandemic recovery, the dynamics between talent and employers has shifted. Good news for employers, the survey found that employees do not lack loyalty, with 62% stating they feel committed to their employer. However, nearly half (47%) feel that if they were to lose their job, they would be able to find a new one rapidly, showing their confidence and comfort in the current job market.
Randstad’s latest Workmonitor, one of the longest-running and largest studies of its kind, surveying 35,000 workers across 34 markets, was conducted between 21 February and 13 March 2022, while the participation exceeded 800 in Greece. The survey data has found that Gen Z and Millennials are driving a revolution in the employee-employer dynamic, intensifying the pressure on employers amid talent scarcity.
28% of Greek employees agree that they would rather be unemployed than unhappy in a job (33% globally), in particular, Gen Z and Millennials, 37% and 34% respectively, whereas only 16% of Baby Boomers feel like this. 46% said they would quit a job if it prevented them from enjoying their life. 95% of Greek respondents said that work - life balance is very important to them in their current job and potential future employment. There is a clear relationship between age and the importance of work happiness. As people get older, our data shows the emphasis on satisfaction diminishes. Happiness at work is a priority for people post-pandemic: they want to see their values reflected in the mission of their employer.
39% of Gen Z and 42% of Millennials also stated that they have previously quit a job because it didn’t fit with their personal life. My personal life is more important than my work life for 59% of the respondents. 40% in Greece would choose not to work at all if money was no objection as opposed to 48% globally. Attitudes have clearly shifted among employees, and it is clear from the study that younger generations are at the forefront of a movement to find greater satisfaction and happiness through employment.
After a turbulent two-year period in which many entry level employees to the labor market have never even stepped inside an office, what seemed like a temporary situation has shifted to a permanent one. Employers will have to determine how they evolved their corporate culture and workforce strategy to accommodate this phenomenon.
but employers aren’t keeping up with talent demands.
The pandemic brought in a new way of working for employees in Greece and around the world. Now that restrictions are being lifted, the Workmonitor data indicates that it is unlikely the workplace will return to pre-pandemic times. Even though there is a struggle to source talent, employers are struggling to fulfill talent demands.
Despite 85% of Greek employees (83% globally) stating flexible hours are important to them and 79% state the same for flexible locations, only 35% feel they have any flexibility in terms of where they work and only 44% state, they can control their working hours.
28% stated that they would not accept a job if it didn’t provide flexibility around where they work, e.g., work from home and 34% would not accept a job if it didn't provide flexibility around their working hours, e.g., controlling their work schedule).
Furthermore, in Greece in the last 12 months:
- Only 26% of employees have received an increase in remuneration package.
- Only 15% of employees have received increased benefits (annual leave allocation, healthcare, pension etc.).
- Only 12% have received increased support for families and dependents (childcare support, parental leave, careers’ leave).
- Only 21% have received increased training or development opportunities.
younger generations prioritize their values when making career decisions.
The younger generation are putting pressure on businesses to put purpose and values at the heart of what they do, as they want their work to align with their personal values:
- Half of both Gen Z (52%) and Millennials (50%) would not accept a job with a business that doesn’t align with their values on social and environmental issues compared to just over a third (40%) of Baby Boomers.
- A similar amount, 53% and 42% for Gen Z and Millennials, respectively, said they wouldn't work for a business that wasn’t making a proactive effort to improve its diversity and equity compared to 31% of Baby Boomers.
self-improvement post pandemic or self-improvement in the digital age.
Since the pandemic, a digital transformation has changed the way people live and work. The future of work will continue to be driven by technology. To keep up pace with these rapid changes, Greek employees will need to embark on a journey of continuous learning, and this is clear from the study.
87% of Greek employees, across all ages, state that additional training and development is important to their careers and future as opposed to 76% globally. This indicates that regardless of age, Greek employees are willing to advance their technical and soft skills to further their careers and achieve professional and personal goals. 61% of those surveyed said that their current job provides them with the right training and development opportunities they need.
Randstad’s 1st Workmonitor results for 2022 are a wakeup call for both employees and employers. Accordingly, a large group of employees in Greece have reevaluated their priorities. As a result, the younger generations now focus on self-fulfillment and at the same time are not afraid to leave their job when their role isn’t helping them to personally develop, or when it stands against their values. It is now more crucial than ever for businesses to reexamine talent acquisition and retention since younger generations are choosing a different career path, as well as putting their values first.
You can find the Workmonitor report here.
about the randstad workmonitor.
The Randstad Workmonitor was launched in the Netherlands in 2003 and covers 34 countries around the world. The study encompasses Europe, Asia Pacific, and the Americas. The Randstad Workmonitor is published two times a year, making both local and global trends in mobility visible over time. The Workmonitor’s Mobility Index, which tracks employee confidence and captures the likelihood of an employee changing jobs within the next 6 months, provides a comprehensive understanding of sentiments and trends in the job market. Besides mobility, the survey addresses employee satisfaction and personal motivation as well as a rotating set of themed questions. The study is conducted online among employees aged 18-67, working a minimum of 24 hours a week in a paid job (not self-employed). The minimum sample size is 405 interviews for Greece. The Survey Sampling International (SSI) panel is used for sampling purposes. The survey for 2022 was conducted in Greece from 21 February until 13 March.