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Randstad releases US workers confidence indexes

February 23, 2015

Confidence levels among US manufacturing and logistics workers rose to an all-time high in the fourth quarter, while office and administrative worker confidence also increased in the quarter, according to Randstad.

Manufacturing and logistics employee confidence

The Randstad manufacturing and logistics employee confidence index rose to 59.0 from 53.2 in the third quarter, the highest reading since Randstad began tracking the index in 2005. The fourth-quarter reading surpassed the prior record of 56.0 set in the second quarter of 2014.

Index values above 50 indicate a positive reading.

The percentage of workers in the sector who believe there are more jobs available rose to 28% from 24% in the third quarter. 

Although 48% of manufacturing and logistics workers said they felt there were fewer jobs available, confidence in their ability to find a new job climbed to 54% in fourth quarter from 32% in the third quarter.

“With both the overall economy and the US manufacturing sector experiencing healthy growth, we expect to see confidence levels among workers remain high in 2015,” said Traci Fiatte, group president of Randstad Staffing. “Following a significant dip in 2009 to the lowest level since 2004, gross output for the manufacturing sector has rebounded. The industry experienced a 7.7% annual growth rate between 2009 and 2011, and in 2014 it reached its highest level ever recorded at more than $5.4 trillion.”

“In 2015, the US manufacturing industry will place greater importance on optimizing productivity and maximizing competitive advantage by incorporating more cutting-edge technologies. The integration of these advancements, driven by speed-to-market pressures and the desire to reduce costs, will increase the need for more technologically-advanced skillsets among manufacturing and logistics workers,” said Fiatte. “The challenge for many manufacturing companies will be to find and retain this skilled talent, as more employers begin to recognize that failure to do so will result in a negative impact on the bottom-line. Increased overtime costs, increased cycle times, increased downtime and other soft cost impacts are just a few ways in which companies will suffer without securing qualified talent for these key positions.”

The index is based on an online survey of 145 manufacturing and logistics employees within the US conducted by Harris Interactive on behalf of Randstad during October, November and December of 2014.

Finance/accounting worker confidence

US finance and accounting workers’ confidence rebounded in the fourth quarter after declining for two consecutive quarters, according to the Randstad Professionals’ finance and accounting employee confidence index for the fourth quarter of 2014. The index rose to 59.9 from 57.5 in the prior quarter. The index remained above 50, which indicates a positive reading.

“Economic conditions certainly improved during 2014 and set the stage for substantial growth and more aggressive hiring levels in 2015,” said Rebecca Henderson, group president, Randstad Professional Solutions. “As firms and companies face more difficulties in filling vital openings with qualified, skilled accounting and finance professionals, they may also have to contend with increasing vacancies, as more of these workers explore new opportunities that arise from a growing economy. As our survey indicated, nearly 40% of finance and accounting workers have plans to change jobs in 2015.”

“The need to maintain adequate staffing levels, combined with high costs resulting from poor hiring decisions, has many companies relying on staffing firms to provide subcontractors or temporary professionals now more than ever,” said Henderson. "In a more competitive talent market, the ability to tap into another source of sought-after accounting and finance professionals, who can meet immediate business needs on a more flexible basis, is crucial to an organization’s success.”

The report found 30% of finance and accounting professionals believe there are more jobs available, up from 28% in the third-quarter survey. More than half, 51%, said they were confident in their ability to find a new job, and 38% said they would likely pursue new employment opportunities over the following 12 months, an increase of 13 percentage points from third quarter.

The only aspect of the survey that reported significant decline was finance and accounting professionals’ confidence in the future of their current employer; 59% expressed confidence in the future of their employer, down from 64% third quarter.

Harris Interactive conducted the survey within the US on behalf of Randstad Professionals in October, November and December 2014. It included 163 respondents employed in accounting and finance.

Clerical worker confidence

The Randstad US’ office and administration confidence index reported a slight gain in the fourth quarter 2014, rising to 55.0 from 54.4 in the third quarter.

“Although most office and administrative professionals felt confident in their personal employment situation, the fundamental shifts in the modern day office technologies and new ways of collaboration will require workers within this industry to evolve their skills in order to remain marketable,” Fiatte. “Social applications, web conferencing and cloud computing are just a few of the investments companies are making in order to promote collaboration and productivity.”

Sector professionals expressing optimism in their ability to find a new job fell to 37% from 39% in third quarter and 22% felt there were more jobs available, a three percent decline from the previous quarter.

Office and administrative professionals were the least likely among all professions surveyed to entertain the idea of changing jobs; 61% said they were not likely to look for a new job over the following 12 months.

The index is based on an online survey within the US of 403 US office and administrative workers conducted by Harris Interactive on behalf of Randstad in October, November and December of 2014.