Interview with Nathalie Delebois: "The candidates call the shots!"
Change is in the air in Luxembourg, where employers have to rethink their plans to retain employees and attract new recruits. Is it the "bit quit" wave hitting the country? Does this make the Grand Duchy particularly vulnerable? Nathalie Delebois, co-founder of DO Recruitment Advisors and co-chair of FR2S - Federation for Recruitment, Search & Selection - provides some answers.
Sustainability Mag: How do you see the current job market situation in Luxembourg?
Nathalie Delebois: Despite a slightly rising unemployment rate and a declining number of reported jobs, the volume of vacant positions remains very high. One of the main reasons is that people are resigning a lot easier than before. This is a post-pandemic effect; many people have had time to ask themselves fundamental questions about what they want to do with their lives and their careers. Today, people prioritise wanting to be fulfilled by their work . They sometimes resign without having another contract ligned up: this is quite unprecedented! A few weeks ago, FR2S conducted a survey to ask the question "Are you attentive to the market?". The answer was positive for 60% of the respondents in Luxembourg...
Would you say the wave of great resignation has partly affected Luxembourg?
Yes, certainly. But to a lesser extent in terms of actual resignations. We are not at the point of the 50 million departures that took the United States by surprise.
That said, in terms of projections, the indicators for resignation intentions are unusually high. One of PwC's latest studies indicates that when asked "Are you planning to quit in the next 12 months?", 25% of Luxembourg workers said yes. This is higher than the world average (set at 20%) and also the highest percentage in Europe!
Is the country more at risk in this respect than its neighbors?
Our market has many solid points and an attractive package, particularly in terms of salary, free transport, quality of life and above all the great career opportunities offered. But this attractiveness and competitiveness of Luxembourg is now under threat. There are weak points: the outrageous cost of housing, the still difficult commuting from neighboring countries and the unsuitable teleworking policy for many cross-border workers due to tax and social security constraints. Within our firm, we observe a growing trend of people based in Metz, for example, who now prefer to work in Paris rather than in Luxembourg. There is therefore a medium-term risk of talent leaving for their country of residence, where the hybrid work pattern has become widely accepted. These are points that our federation is raising with political decision-makers. Keeping Luxembourg attractive compared to its neighbors is an important challenge, especially since more than 40% of employees in Luxembourg are cross-border commuters.
In your opinion, is this employee versatility a mega trend or an epiphenomenon?
It's a megatrend, notably at the generational level. Our forefathers and foremothers worked because they had no choice, they had to provide for themselves. Then, generation X prioritised job security and life comfort while feeling indebted to their employer. The younger generations have a "Win-Win" concept of work: mutual and reciprocal benefits between the company and the employee. Of course, they want a comfortable salary, which is still the main concern, but they also want professional fulfillment and well-being at work. For generation Z in particular, which is more complex to define, we can even talk about an emotional bond with the company. Employees do not work only because they feel bound by an employment contract, they need a sense of belonging. Passionate and determined, young people expect a company to be like them and to meet their multiple expectations. They say they don't want to do the same job for the rest of their lives and don't look any further than two years ahead to imagine their future!
We are therefore moving from a perennial conception of employment, with the same company throughout life, to a youth who is more interested in diversification and change.
What are the signals to listen for in order to anticipate more or less radical decisions to change careers?
There are a number of signals we need to pay attention to. Younger generations now have a more nuanced relationship with the company, and undoubtedly emphasise the importance of a work/life balance.
All surveys taken together, on the podium of reasons that would push an employee to stay or to leave the company, we find the salary package, then the fulfillment - including well-being at work and work/life balance -, and finally the interest of the position - including the opportunities for evolution and the quality of management.
This last point deserves vigilance. Managers must be present, caring, considerate and attentive. They must understand the importance of the work/life balance. We have never had so many requests from our candidates about the number of days off offered by the company or about the workplace. These are topics that before were not even part of the discussion.
The quality of life at work is at the heart of concerns. Employees want to feel good in their company. It is essential to start by taking care of onboarding. This is a step that structures still tend to neglect too much. The latest FR2S survey shows that 33% of employees who have recently changed jobs are not satisfied with their new situation. This means that they are likely to resign very quickly... Hence the importance of creating links, of taking into consideration employees as soon as they arrive.
Would you say that today, the balance of power between employer and employee is being reversed?
Absolutely. In our jargon, we talk about a "candidate market"; they are the ones who call the shots. The balance of power is clearly reversed today. Candidates make their job market, not the other way around. Very often, they withdraw themselves from the recruitment process, because they didn't like the last interview with the manager or didn't have a good feeling... Small mistakes on the part of managers can be costly to the company, because they don't send the right signals. Everything is important today when it comes to taking care of the employee experience, starting even before you officially hire them.
To be read also in the dossier "Seduction enterprise"