40 percent of Czechs fear losing their jobs, a survey finds

40 percent of Czechs fear losing their jobs. As much as a quarter of the population is dealing with their worsening financial situation by taking a second job or postponing retirement. More than half of the population requires the ability to work from home.

This is according to the Workmonitor survey, which the Randstad recruitment agency has conducted regularly for 20 years. Last October, 750 workers participated in the survey in the Czech part.

According to the survey, the importance of job security is increasing, just as it did during the pandemic. “Job security is important to 95 percent of Czechs, four percentage points more than the year before. Half of the respondents are worried about the impact of the economic situation on their job security, and 40 percent are even afraid of losing their job. However, based on our experience, there is no risk of widespread layoffs or company bankruptcies because we entered the crisis with a strong labor market,” said Martin Jánský, Randstad ČR CEO..

According to the survey, the worsened financial situation of the Czech Republic is also reflected in other job trends. More than a quarter of employees compensate for higher expenses with a second job. 14 percent have increased their working hours, and a quarter is postponing retirement. Respondents also expect their employers to help them with the rising cost of living. Half prefer to increase their wages, and a third want to compensate for travel, utilities, and other everyday expenses.

According to the survey, almost 50 percent of respondents have already received some help. “Employers are moving toward support in the form of wage reviews or one-off bonuses as they realize that supporting workers in difficult life situations can be their competitive advantage in the battle for talent,” Jánský said.

However, work-life balance is becoming increasingly important for employees despite macroeconomic uncertainty. Forty percent of survey participants said they had decided to leave their jobs after a pandemic if it negatively impacted their lives. Around 35 percent changed jobs because of toxic workplace environments, and 30 percent because their work did not fit with their personal lives.

According to the survey, a long-term consequence of the pandemic is an increasing desire among workers for flexibility. A fifth of respondents had quit because of a lack of freedom. Flexibility in working hours is even essential for 70 percent of respondents, according to Workmonitor.

The ability to work remotely is essential for 53 percent of Czechs, up six percentage points from a year ago. Approximately two-thirds of workers also want their employers’ values and goals to align with their own. Half want their work to be meaningful and make them feel like they belong.

Compared to the last Workmonitor, the Czechs are less conservative than in previous years. Today, their work-life balance, workplace satisfaction, and belonging needs are almost global. Some factors, such as a non-toxic atmosphere in the workplace, are even more critical to Czechs.