Those Who Took a Job Abroad Gained the Most Satisfaction, Says a New Report from The Boston Consulting Group and Recruit Works Institute
TOKYO—A survey of job seekers around the globe who found new work in 2016 reveals that 74% increased their job satisfaction. This was especially true for those in their 20s and 30s (75% of them), those in emerging markets such as China and India (84% and 83%, respectively), and those who found a new job in a different country (82%). Interestingly, those respondents who found jobs through either permanent employment agencies or social networking sites were more satisfied with their new employment, at 80% and 79%, respectively, than those who relied on other channels.
These findings, from a report jointly produced by The Boston Consulting Group (BCG) and Recruit Works Institute for the third year in a row, give tremendous insight into job satisfaction among the global workforce—an issue that is important not only for job seekers but for the companies that hire them, as job satisfaction strongly correlates with acquiring and retaining qualified employees. The report, Job Seeker Trends 2017: Level of Satisfaction Gained by Changing Jobs, is being released today.
The report reviews findings from one of the largest global surveys on the experiences and perceptions of people looking for employment, including responses from over 13,000 job seekers from 13 countries. The data presented provide a snapshot of job search trends and raise important themes for both job seekers and human resources departments.
Compensation Remains a Powerful Motivator
Salary and benefits are key factors in the job search everywhere; not surprisingly, the report finds compensation the most popular reason among 2016 job seekers for leaving their prior employment, at 22% of respondents. Job seekers in India and China are particularly focused on compensation, with 35% and 30%, respectively, changing jobs because they were dissatisfied, and 81% and 63% considering only positions in which their compensation would increase—significantly higher than the 53% average for the 13 countries surveyed. In contrast, the percentage in Japan was just 26%, with 28% of job seekers also looking at jobs in which compensation would be reduced.
Social Networking Sites Gain Importance
With the growing popularity of smartphones, the report finds that the internet in general, and social networking sites (SNSs) in particular, have become an important part of the job search, with an average 34% of those surveyed using SNSs at some stage of the search and 19% of that group applying directly to job offers on SNSs. Given the high level of satisfaction of those who found jobs through SNSs, this trend can only be expected to strengthen.
A copy of the report can be downloaded here.
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Founded in 1960, the Recruit Group creates and provides platforms that connect companies and consumers. Headquartered in Tokyo, Japan, the Group operates a wide range of services, including HR technology, housing and real estate, bridal, travel, dining, beauty, recruitment advertisement, employment placement, staffing and others. The Group has more than 45,000 employees and operates in more than 60 countries. For more information, please visit the company’s website at http://www.recruit-rgf.com/.
Recruit Works Institute is the research division of Recruit Holdings, which presents new concepts for people and organizations. With the mission of “building a global stage that allows each individual to work to their full potential,” the institute conducts surveys and research and publishes reports on labor markets, policies, careers, and more from a variety of angles. For more information, please visit http://www.works-i.com/english.
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries.