Employee Layoff Fears Drop To Lowest Level In Nearly Five Years; Glassdoor Employment Confidence Survey (Q3 2013)
While the U.S. government shutdown may be a headache for some employees across the nation, Glassdoor’s Q3 2013 Employment Confidence Survey¹ shows that more employees are not as stressed out about potentially being laid off as they’ve been over the past five years. In fact, only 15% of employees reported concern over being laid off in the next six months, a new low since Q408 and down seven percentage points since last quarter.
Each quarter, the Glassdoor Employment Confidence Survey monitors four key indicators of employment confidence: re-hire probability, business outlook, job security and salary expectations. More than 2,000 adults participated in the online survey.
Fewer employees (24%) are also concerned about co-workers being laid off in the next six months, another low since Q408 and down six percentage points since last quarter. When comparing men and women, male workers (18%) are more concerned of being laid off than female workers (11%). Interestingly, male workers 35-44 years old (24%) are three times as concerned when compared to women 35-44 years old (8%).
Business Outlook Holds Steady
While fewer employees are concerned about a layoff, half of employees (51%, including those self-employed) believe their company’s business outlook will stay the same in the next six months, an increase of four percentage points since last quarter and a high since Q411. Fewer employees (40%) believe it will get better, down two percentage points since last quarter, while even fewer (9%) believe it will get worse, down three percentage points since last quarter. Men (45%) are significantly more optimistic than women (35%) that their company’s business outlook will perform much or somewhat better in the next six months.
Job Market Confidence Unchanged
With most employees believing their company’s business outlook will stay the same, their optimism in the job market remains unchanged as well. This quarter’s survey shows that employees’ (including those self-employed) expectations oftheir ability to find a job matched to their experience and current compensation levels in the next six months remains flat at 43%, unchanged since last quarter, though still a high since Q409. Those unemployed but looking for work are slightly less optimistic, as 38% believe they could find a job matched to their experience and compensation levels in the next six months, down one percentage point from last quarter.
Salary Increase Expectations Down
Most employees (41%) do not expect to receive a pay raise or cost-of-living increase in the next 12 months, up one percentage point since last quarter, while fewer (37%) expect to, down three percentage points over last quarter, and 22% are not sure. Forty-four percent of employees with a total household income of $75,000+ expect to receive a pay raise or cost-of-living increase in the next 12 months, significantly higher than those who earn less than $35,000 (28%).
Large-Scale Hiring Down, But More Employers Adding Perks
In addition, 34% of employees reported their company made changes to the number of staff, organizational structure, compensation and benefits, or other activities in the past six months, a ten percentage point decrease from last quarter. However, of employees surveyed who reported a positive change at their organization, 18% reported their company initiated large-scale hiring, down 15 percentage points since last quarter and a low since Q211. Plus, 3 in 4 (76%) employees reported their company awarded new perks (option to work remotely, casual dress, flexible work hours) and/or new stock, a high since Q211 and up 29 percentage points since last quarter.
Check out more from our Q3 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.