Human resources giant Randstad predicts: Trump's policies will inject a "stimulant" into the US job market.
21/01/2025
GMT Eight
The world's largest human resources provider, Randstad NV, believes that Donald Trump's return to the White House could have a positive net impact on the US job market. Randstad NV CEO Sander Vant Noordende said in an interview at the World Economic Forum in Davos, "I hear a lot of optimism in the US about deregulation, growth, innovation, new technologies, and confidence. If the economy grows and confidence increases, then there will be hiring."
It is widely expected that during Trump's new presidential term, the US will relax regulations and implement tax policies favorable to businesses.
Vant Noordende stated that the issues of immigration and deportation are currently unclear, and added that a key indicator of the impact of Trump's policies will be the performance of the stock market.
"I expect a positive impact," he said.
On the other hand, human resources companies warn that the European market environment is challenging, and businesses are reducing recruitment budgets due to increased uncertainty. UK headhunting company Pagegroup lowered profit expectations this month, citing deteriorating conditions in its two major markets, France and Germany.
However, in its report on Tuesday, Randstad NV stated that despite tough economic conditions, geopolitical tensions, and technological advancements, employees have not lowered their expectations.
According to the report, people now believe that work-life balance is more important than salary. The recruitment company, headquartered in Diemen, Netherlands, surveyed more than 26,000 employees in 35 markets across Europe, Asia Pacific, and the Americas.
Vant Noordende stated, "The labor market is somewhat stagnant," with decreasing recruitment rates and job vacancy rates. Therefore, employees hope that their current employers can provide more assistance, "rather than jumping to another place for higher pay."
The human resources company stated that employees are becoming more confident, and if their demands are not met, they are willing to take action.
The report shows that about 44% of respondents resigned due to poor working conditions, an increase of 33% from the previous year.