randstad international trends and workplace survey report

economic impact
and outlook
In this section the impact of the economy is considered as well
as how companies perceive their future and potential growth.
Information is also provided on actions companies have taken
to deal with the current economic climate and whether changes
have had an impact on the loyalty of employees.
Part A
countries impacted by an economic downturn
(Greece, The Netherlands, Spain and Switzerland)
The impact of the economic downturn on the
companies surveyed is shown in fig 8.1a, showing
that 62% of respondents had to cut budgets.
Other countermeasures included cut or frozen
compensations or bonuses and employee layoffs.
17% answered that they did not experience any
impact due to the current economic situation.
Spain and The Netherlands mentioned in 3 rd place
the implementation of a halt on recruitment.
Figure 8.1A How has your organization been impacted
by the economic downturn?
Total 625
Budget cuts 62%
Cut or froze compensation (bonus, wages) 46%
Employee layoffs 40%
Implemented hiring freezes 37%
Elimination of consultants / temp employees 24%
Reduced benefits offered 17%
Have not been impacted by the economic downturn 17%
Other 4%
No answer 1%
8
randstad
international
trends and
workplace
survey report
Fig. 8.3A illustrates that CSR initiatives had only
been impacted by the current economy in 16% of
organizations.
According to only 31% of our sample, companies
believed they already were recovering or would
recover from the economic downturn in 2013.
The majority believed it would be after 2013
(fig. 8.4). In Switzerland, 55% of those surveyed
claimed they were currently in recovery.
Fig 8.5A illustrates that 39% anticipated growth for
their company in 2013, while 28% did not foresee
any expansion. Another 24% thought there might
be a possibility for growth. A key factor in this
anticipation might be, when asked about the
companies’ revenue in terms of sales volume, that
it increased for as many as 44% of respondents and
remained stable for 12% in 2012.
22 Randstad international trends and workplace survey report 2013 Randstad international trends and workplace survey report 2013
23
2013
Figure 8.2A Has company loyalty been impacted by changes
in the organization?
Total 518
23%
73%
27%
Yes
No
No answer
Figure 8.3A Has the economy impacted your company’s involvement in Corporate and Social Responsibilities Initiatives?
Yes, all CSR initiatives have been put on hold
2% 15%
Yes, some CSR initiatives
have been put on hold
36%
No, the economy has not
impacted CSR initiatives
Figure 8.4A When do you believe your country will be
impacted by an economic downturn?
Total 630
7% Currently being impacted
1% Early 2013
3% Mid 2013
21% Late 2013
68% After 2013
1% No answer
Figure 8.5A Do you anticipate growth for your company
in 2013?
Total 623
39% Yes
28% No
24% Maybe
9% Don’t know
1% No answer
in the economic downturn more
than half of the companies
negotiated better terms with
their suppliers
While the majority of respondents said they had
not noticed a change in the loyalty of employees,
27% claimed that changes implemented by the
organization had had an impact and 18% said they
did not know, as illustrated in fig. 8.2A.
39% of the respondents said that the economic
downturn had had a significant impact on their
workload. In Greece, 1 in 2 respondents experienced
a significant change in their workload.
11%
Don’t know
36%
No answer
Total 615