Randstad Workmonitor: Trends and policies for older employees in the Greek market 

Randstad Hellas is a leading HR services company in Greece and each quarter, since 2010, conducts the Workmonitor survey to capture labour market trends locally. The Randstad Workmonitor survey for second quarter 2016 explores the employment prospects of older employees and the skills gap in the labour market as well as the quarterly mobility index, fear of job loss and job satisfaction of Greek employees.

The effect of an aging labour force which results in a decline of the working population is becoming increasing apparent. In Greece, only 42% of the respondents agreed that retaining older workers, over 55 years of age, is crucial for their company's success, whereas the global figure is 56%. 80% agree that an aging workforce will cause a decrease in the working population in Greece. 79% also agree that attracting young people is crucial for their company's success which is in line with the global figure of 78%.

Retaining workers over 55 is crucial for their company's success 

In last place with respondents from Slovakia and Hungary, only 25% of Greek respondents believe that employment prospects for workers over 55 will increase in the next five years. Only 24% stated that their employer has active policies in place to attract and retain people aged 55 over in Greece. 76% of the Greek respondents believe that it is harder for older workers, above 55, to acquire new skills. 

Employment prospects for over 55's will increase in the next 5 years 

My employer has active policies in place to attract & retain people aged 55 and above 

On the other hand 66% believe that employment prospects for young Greek people between 18 and 30 wil increase in the next five years. 66% of the Greek respondents state that their employer has active policies in place to attract younger workers. 58% also point out that in Greece the skills gap is a real problem for their employer but only 46% see that closing the skills gap is the number one priority for their employer. 63% agree that the main skills gap lies in STEM (science, technology, engineering and mathematics) which is in line with the recent Randstad publication, "flexibility@work 2016, the Future of Work in the digital age".

Quarterly recurring items

Mobility Index in Greece remains stable 
The Randstad labour market "mobility index" assesses the number of employees who expect to find another job within the next 6 months. This is based on employee's current job satisfaction, their fear of being fired, their need to find new personal challenges and confidence in finding a job elsewhere.

The mobility index for Greece remained stable at 107 in this present quarter. This coincides with the decrease of fear of job loss as indicated in this current Workmonitor survey. Globally the mobility index also remains stable at 109 this quarter.

Fear of job loss decreases

When asked how likely employees find the possibility of losing their job or the chance that their contract will not be extended within the next six months, 37% responded that it is highly likely, a decrease of 5% since Q1 2016. Of the employees in Greece surveyed, females were found to have the highest level of fear of job loss at 40%, whilst males are at 38%. The age group with the highest fear of job loss is noted in the 55 - 67 bracket with 47%.
Job Satisfaction

According to survey findings, in Greece, job satisfaction decreased by 1% since last quarter, now at 64%. The most satisfied age group is the 25-44 bracket (66%), followed by the 25-34 age bracket (64%). 65% of the men surveyed in Greece were satisfied with their job whilst 61% of females indicated this. Number of people looking for a new job slightly decreases

The number of people in Greece looking for a new job decreases by 5% to 34% in Q2 2016. The highest number of new job seekers can be found in the 55-67 age bracket with 45%. 36% of the females surveyed indicated they were seeking a new job and 34% of males.

A complete press report, including detailed regional differences, is available on: Randstad Workmonitor Survey

The Randstad Workmonitor

The Randstad Workmonitor was launched in 2003, and now covers 34 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 sample size in Greece was 405 interviews, using Survey Sampling International. Research for the second wave in 2016 was conducted between 22 April to 9 May 2016.