Survey: More than half of people in Czechia fear they will lose job next year

More than half of Czech employees are worried they will lose their jobs in the next year, despite the country's low unemployment rate, according to a survey by Randstad ČR. At the same time, a significant majority are considering switching jobs, citing low pay as the main reason.

The survey, which polled Czech employees, found that 54.4 percent of respondents fear losing their jobs in the next year. The main reason for this fear is the turbulent economic development in recent years, marked by the Covid-19 pandemic and high energy prices. 

According to Martin Jánský, director of Randstad CR: "The unemployment rate in the Czech Republic has been one of the lowest in the EU for a long time and will not change dramatically even in 2024. So, the fear of job loss is mainly based on the economy's recent ups and downs."

Jánský attributes the concerns of some employees to technological changes or developments abroad. "Some employees feel threatened by the rapid development of technology and the onset of artificial intelligence," he explained. "In some sectors, like the automotive sector, concerns are related to possible negative developments abroad, especially in Germany."

Meanwhile, 56.1 percent of Czechs are thinking about changing jobs next year. Of these, four in 10 definitely want to make the move, and another 13 percent are considering it. The main reason for wanting to switch jobs is low pay, cited by two-fifths of people. This is followed by a desire for a better balance between personal and work life and a lack of opportunities for career growth at their current employer.

"If companies want to keep their best employees, they should focus on fair pay, a balance between work and personal life, and creating opportunities for career growth," Jánský concluded. The survey highlights the need for companies to address their employees' concerns in order to retain top talent amidst economic uncertainty.

A 2023 study by Charles University and research firm Ipsos found that about one-third of people in Czechia believed that AI would impact their jobs within five years, with software engineers, graphic designers, and journalists expecting the greatest effects.