In 2020, there is one story dominating economies, businesses, hearts and minds across the globe: COVID-19. Countries around the world have had a coronavirus-shaped hole punched through their economies and financial institutions everywhere are dealing with the aftermath. In this unprecedented and uncertain time, how does it impact professionals' job confidence and perceived job security?
Report Download: Global Job Confidence Index
Job Confidence Index 2020 global report is ready for download. Access to the full report:
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Global Confidence Report: Job Index 2020
Selby Jennings latest global research interviewed with over 900 financial services professionals across the globe, it reveals:
6 in 10 financial services professionals across the global foresee a worse economic situation for the next 12 months.
Over half (57%) of global respondents feeling confident or very confident about keeping their jobs over the next 6 months.
Over half (52%) receiving the same or an increased bonus compared to last year.
Regional Job Index Comparison
The Global Confidence Job Index report has looked closely into regional comparisons. As a result of the coronavirus, institutions around the world have had to quickly change how they operate. Travel is restricted, talent mobility
has been limited, and the workforce is working from home. With certain cities coming out from the pandemic faster than the rest, how is this affecting confidence levels in the job market in different regions?
APAC | First in, first out
The most positive region around the globe
Cities in APAC have become some of the first places to get back to some kind of ‘normal’. As a result, our survey results show that respondents in APAC tend to be:
Less negative about the job market, especially at the very negative end, with only a small proportion 'very negative' compared to Europe and the US.
Most likely to receive a bonus.
More confident about job security and their ability to find another job than their global counterparts.
Europe | Conservative
But financial institutions are expected to recover quickly
With the pandemic in addition to Brexit, our survey shows that respondents in Europe tend to be:
Most negative about the economy and least confident about job security compared to APAC and the US.
Least likely to receive a wage increase or bonus.
Least satisfied with and most likely to leave their current job.
The US | Looking Forward
Looking forward to a brighter future
Despite the highest number of total coronavirus cases and deaths in the world, our respondents in the US tend to be:
Feeling most confident that the economy will improve in the next year.
Most likely to receive an increase in compensation.
Willing to move for career progression, and even relocate even most are satisfied with their jobs.
Download our global report to find out more.