Employees Report Growing Concern Over Job Security, Pay Raises And Job Market Amid Rising Job Satisfaction
Not sure where the economy is headed and how your career path will look in the next 6 to 12 months? You’re not alone.
It’s no secret that the job market has remained tight over the past several months, and so it shouldn’t be too surprising to hear that employees are more pessimistic about their ability to get rehired within this the next six months should they lose their job. In addition, employee concerns about layoffs and pessimism about pay raises have risen to the highest levels since the height of the recession.
Today, Glassdoor released the latest Employment Confidence Survey, conducted by Harris Interactive, and found layoff concerns were up five percentage points this quarter, 22% up from 17% last quarter. In addition, concerns for co-workers layoffs increased four percentage points to 34%.
The survey also showed nearly half (48%) of employees report they do not expect a pay raise in the next 12 months, and nearly one third (31%) of employees and those self-employed believe it is unlikely they would find a job matched to their experience and compensation levels in the next six months.
However, when employees were asked about their overall job satisfaction, nearly one-third (30%) of employees reported they are more satisfied with their jobs today than one year ago yet one in four (26 percent) say their satisfaction is “worse.”
Last quarter, we noted that men’s expectations for pay raises and company outlook appeared to be improving. Again, we find that men’s optimism is climbing: 40% of men expect a pay increase in the coming year as compared to 32% of women. Also, men continue to be more optimistic regarding company outlook however the gap between genders is decreasing. In the second quarter, 42% of men noted they expect their company outlook to be better in the next six months compared to 36% of women. In the first quarter, 50% of men believed their company’s outlook would be better while 28% of women expect outlook to improve.
How do you feel about the job market? Are you looking for jobs more frequently than you did a year ago, worried that layoffs may hit again and/or do you expect to get a salary and compensation increase any time soon?
Interested in more insights into current employee and job seeker sentiment by age, location and gender? See the complete results for the Glassdoor Employment Confidence Survey.