2 in 5 Employees Expecting Pay Raises in 2014; Glassdoor Employment Confidence Survey (Q4 2013)
As employees head back to work after the New Year, bigger salaries in 2014 are top of mind, according to Glassdoor’s Q4 2013 Employment Confidence Survey¹. In fact, two in five (42%) employees expect a pay raise or cost-of-living increase in the next 12 months, up five percentage points since last quarter, while getting a pay raise is among employees’ top career resolutions (32%) in 2014.
Each quarter, the Glassdoor Employment Confidence Survey monitors four key indicators of employment confidence: re-hire probability, business outlook, job security and salary expectations. This quarter’s survey also looked at top career resolutions and job search plans in 2014. More than 2,000 adults participated in the online survey.
Employees’ Top Career Resolutions in 2014
In terms of top career resolutions in 2014, not only do 32% of employees want to get a raise, 22% want to look for a new job, 20% want to take/use all their vacfation days earned (up seven percentage points since last year), and another 20% want to develop their leadership skills. While 21% of employees said improving their performance/rating by a supervisor was a top resolution last year, only 16% reported it as a top resolution this year. In addition, three percent of employees admit helping get their boss/supervisor fired is among their top career resolutions in 2014, up one percentage point over last year.
Salary Increase Expectations Rebounding
Not only is optimism in salary increases growing, as 42% of employees say they expect a pay raise in 2014, this is also at its highest level since Q112. Plus, while most employees (42%) believe they will get a pay raise in the next 12 months, fewer employees (38%) do not, and even fewer (20%) are not sure. Interestingly, 44% of employees in the West do not expect to receive a pay raise or cost-of-living increase in the next 12 months, significantly greater when compared to those in the Northeast (33%).
Layoff Fears Remain at Lowest Level in Five Years
As employees feel more confident in receiving pay raises in 2014, their concerns over being laid off in the next six months (15%) remain at an all-time low since Q408. Employees 55-64 years old (20%) are more concerned about this than those 45-54 years old (12%). When it comes to employee concerns about co-workers being laid off in the next six months, more employees (27%) report concerns since last quarter, an increase of three percentage points.
Business Outlook Steady
In the next six months, most employees (48%) believe their company’s business outlook will stay the same, while 42% believe it will get better, up two percentage points sice last quarter, and ten percent believe it will get worse. Men (49%) are more optimistic than women (35%) that their company’s business outlook will perform much or somewhat better in the next six months.
Check out more from our Q4 2013 Glassdoor Employment Confidence Survey, including our survey supplement which provides a detailed quarter-by-quarter breakdown of results.
¹ The Glassdoor Employment Confidence survey is conducted online by Harris Interactive on behalf of Glassdoor.