Research On The Influence Of Migrant Workers’ Risk Preference Of Employment Stability

Migrant workers are a special class gradually formed with the transformation of economic system and changes in social structure after China’s reform and opening up,and they are an important force in promoting the rapid development of industrialization and urbanization in China.While migrant workers have made important contributions to the rapid economic growth of our country,their own development issues have also become a major challenge that must be addressed in the new era of development on agriculture、rural areas and rural people and development of migrant workers.At present,the employment quality of migrant workers lower than location worker,mainly manifested in poor employment stability,inadequate employment rights and benefits,and other welfare aspects.Among them,employment stability,as a major indicator of employment quality,is reflected in the frequent job changes,high mobility,and low contract signing rate of migrant workers during the employment process.From the perspective of migrant workers themselves,migrant workers’ families,enterprises,and national economic development,the instability of migrant workers’ employment can bring various adverse effects,even more detrimental to the formation of high-quality industrial workers in China.It can be seen that the employment stability of migrant workers has a profound impact on China’s human resources and industrial development.The academic community has also provided corresponding explanations for this issue for a long time,mainly considering factors such as migrant workers’ personal characteristics,inherent qualities,and binary segmentation labor market.However,there is a problem of insufficient explanation strength and depth.This study will explore the behavioral logic of group employment choice from the perspective of prospect theory,risk preference,and the human capital theory,career development theory,and labor market segmentation theory applied in existing research,in order to understand the motivation of farmers’ employment decision-making.Explaining the mechanism of migrant workers’ unstable employment decision-making from the perspective of risk preference not only enriches the research perspective in this field,but also validates the impact of risk preference on migrant workers’ employment decision-making,providing a reference basis for further guiding migrant workers to rationally change jobs and guiding the country’s career development of migrant workers.Based on previous research,this article analyzes the impact of risk preference on the employment stability of migrant workers from the perspective of risk aversion,labor market segmentation theory,human capital theory,and career development theory,using the 2018 database of China Labor Force Dynamic Survey(CLDS),mainly using measurement methods such as KM model,COX PH model,COX hierarchical model,AFT model,binary Logit,and Multilevel regression in survival analysis,The main answers are whether risk preference will affect migrant workers’ employment decisions,the impact mechanism of risk preference on migrant workers’ career decisions,and the impact of stability on income.The main conclusions include:Firstly,the calculation of risk preference coefficient and the classification of migrant workers’ risk preference types.Using the household income of migrant workers as a proxy variable,the A-P DARA risk preference coefficient is calculated and its value distribution is classified.The risk preference of migrant workers is divided into risk preference type,risk neutral type,and risk aversion type.Risk loving migrant workers are more likely to change their job behavior,while risk averse migrant workers have a relatively long employment duration.Secondly,risk preference significantly affects the employment stability of migrant workers.Among individual characteristics,migrant workers who are female,married,and over the age of 35 years old have stronger employment sustainability.Among the employment characteristics,migrant workers who work more than 60 hours a week and whose monthly income is lower than the regional average are more likely to change jobs.Risk preference is highly heterogeneous among migrant workers in different regions,industries,occupations,and ages.Among the national regional differences,the eastern and central regions have a significant impact;Among industries,migrant workers in the service industry and service positions have a high risk preference;The risk attitude of the older generation of migrant workers is more risk averse,while the new generation of migrant workers is more risk preference.Thirdly,the heterogeneity of individual risk preferences can affect career choice decisions.Risk preference can affect migrant workers’ employment decisions.For risk preference migrant workers,they will choose multiple career movements,which is manifested as unstable employment.In particular,individuals who exhibit a high degree of risk aversion should prefer performance based income types,while risk averse individuals will pursue fixed income types.At the same time,migrant workers with low risk aversion are more likely to have more labor protection jobs.Fourth,from the three dimensional indicators of employment stability,it is found that career duration and job change both promote income growth,so there is a trade-off.Career interruptions can lead to a decline in the income of migrant workers.Income steadily increases with age and group growth,with men earning more than women.In the four observed inter-generational groups,the correlation between career stability and income growth was relatively stable.The index of employment duration has decreased in various groups.This explains the plight of migrant workers’ career development within the enterprise.Enterprises where migrant workers are employed cannot provide them with an upward mechanism.In order to improve their economic status,migrant workers have to frequently change jobs between enterprises.Based on the above research conclusions,this article proposes corresponding policy recommendations:First,it is necessary to fully understand the objective reality of the non homogeneity of migrant workers’ risk preferences.Based on the characteristics of migrant workers’ risk preference and risk aversion,pay attention to migrant workers’ employment behavior,and pay attention to the impact of risk preference heterogeneity on migrant workers’ employment decision-making.To help migrant workers rationally understand the game between the short-term benefits of changing jobs and long-term career development,it is necessary to recognize the impact of high intensity labor on their health and the sustainable impact on personal employment.Secondly,strengthen vocational education for migrant workers and increase their opportunities for continuing education.On the one hand,establishing a vocational education system for migrant workers,formulating talent cultivation models that are more in line with the learning characteristics of migrant workers,and developing new majors corresponding to new positions,in order to find suitable positions more quickly,can improve the adverse impact of the new generation of migrant workers obtaining career matching through frequent search methods in the market.Increase flexible learning methods and provide opportunities for migrant workers who have the willingness to learn to continue education.At the same time,it is necessary to make learning outcomes reflect their role and value,and to make migrant workers feel the impact of education on income growth.Third,the government should reduce the disadvantages of labor market segmentation and provide a fair labor market as much as possible.Improve the secondary labor market career development mechanism,and clarify the career development path direction of migrant workers.Strengthen the protection of migrant workers’ employment rights and interests,and reduce unemployment risks.Use labor market flexibility to increase the employment rate of migrant workers and reduce their unemployment rate.According to the fact that migrant workers retain their wage levels and raise the minimum wage standard,they can obtain a sense of security in urban life under improved social security,thereby reducing the behavior of migrant workers using their current income to withstand future unemployment risks.