Employees confident despite crises, Xing survey on happiness finds
More than 69 per cent of employees in Germany regardless of gender, have expressed confidence about their professional future, according to the Job Happiness Survey 2022 conducted by the Forsa opinion research institute on behalf of the Xing career network. The so-called baby boomer generation (over 56 years) is particularly confident despite ongoing conflicts like the war in Ukraine, the energy crisis and inflation.
Strong awareness of shortage of skilled labour
"Employees seem to be more aware of the shortage of skilled labour than economic worries. Despite many crises, Germany's employees continue to rate their chances on the job market positively," said Petra von Strombeck, CEO of New Work SE, the parent company of Xing. The shortage of employees is noticeable in every sector and is being exacerbated by demographic developments. Around five million baby boomers will retire in the coming years, according to the Institute of the German Economy (IW). More than 1.8 million jobs were vacant in November, the Institute for Employment Research has found.
"The situation on the labour market remains employee-friendly for many. Nowadays, companies have to apply to job seekers and talented people - not the other way around." Not surprisingly, 89 per cent of respondents said they are "very confident" about their skills and believe that they appeal to potential employers.
Stress, unfair pay and lack of appreciation
However, respondents were also critical despite the optimism. One in three employees has to work longer hours to compensate for missing colleagues. About one in ten works overtime without time off in lieu (35 per cent) while others mentioned stress (31 per cent), unfair pay (25 per cent) and lack of appreciation (21 per cent). Apart from the purpose of a job and identifying with an employer, relaxation, fair pay and appreciation are crucial to job satisfaction, the survey found. Companies must respond to employees' needs. "Given the shortage of skilled labour, employees have a choice above all. Dissatisfied employees are naturally more open to changing jobs."