Posts Tagged ‘Bonuses’

Employees Mixed On Expectations For 2011 Raises; Reported Layoffs Fall Yet Cuts To Health And Dental Benefits Rise

Posted by • January 7th, 2011 • 7 Comments

It’s no wonder employees and job seekers are having a hard time getting a handle on the state of the job market and whether our economy is showing any improvements. In November, the Bureau of Labor Statistics showed that the unemployment rate creeped up from 9.6% to 9.8% which analysts expect will only drop down to 9.7% in December. In parallel, the Conference Board reported that consumer confidence which had improved in November, decreased slightly in December.

To shed more light on what is influencing and impacting today’s workforce, Glassdoor has just released the results of its latest Employment Confidence Survey that reveals what those on the front lines, the employees and job seekers, are really seeing and feeling. Below are highlights showing where they are feeling optimistic, unsure and where they’re seeing changes at their company or in their job search.

Starting on a high note…

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Employee Optimism is Up for Own Jobs, But Same Can’t Be Said for Co-workers. Glassdoor Releases Q4 Employment Confidence Survey

Posted by • January 14th, 2010 • 5 Comments

Employees have spoken once again, and our Q4 Employment Confidence Survey*, conducted by Harris Interactive, has found that only 20% are concerned they could be laid off in the next six months – a rate that has fallen for the fourth consecutive quarter. Only 13% of those employees who work for companies that haven’t had or communicated layoffs are concerned about being laid off compared to 37% who work for companies that have initiated or communicated layoffs.

The employment picture isn’t so rosy for co-workers, however. Nearly 40% are concerned their co-workers could get laid off in the next six months, a slight increase from Q3. And Baby Boomers are the least optimistic – almost half of those 45-54 (49%) are concerned about getting laid off.

Employees are optimistic when it comes to their company – 9 out of 10 believe their company’s outlook will stay the same or get better in the months ahead.

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Is Employee Sentiment Improving? Glassdoor Releases Q3 Employment Confidence Survey

Posted by • September 30th, 2009 • 4 Comments
Employment Confidence Highlights for Third Quarter

Survey says? Yes.

In our Q3 Employment Confidence Survey* conducted by Harris Interactive, employees report modest declines in layoffs and pay cuts at their companies than was reported last quarter – this has likely contributed to increased employee confidence and optimism relating to future downsizing, pay raises, bonuses, company outlook and ability to get re-hired.

While there’s still a long way to go to a market recovery, we decided to test the waters and ask employees what they would expect from their employers once the economy becomes more stable and we return to a more typical level of unemployment.  The results were telling: in short, they expect a lot:

57% expect a raise, bonus and/or promotion
35% expect hiring freeze to be lifted and/or more employees to be hired in their department
24% expect health benefits and perks that were previously reduced to be restored

But, what’s most interesting is how many employees plan to fly the coop: one in five employees expect to look for a new job once economy rebounds. Among those 18 to 44 years of age, the rate is one in four (24%) while considerably less for those over 55 (12%).  (Glassdoor.com’s ...

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Citi Salaries Up; Bonuses Down

Posted by • June 25th, 2009 • 1 Comment

Citigroup announced plans Wednesday to restructure their compensation by increasing base pay for employees whose salary would be affected by government bonus restrictions. The final plans are yet to be revealed, but sources note it would not affect overall compensation, but would shift the mix in compensation from bonus to salary to adhere to the mandate for bonus caps.

So what does this mean for Citigroup employees? Some could see their salary rise as much as 50% — purportedly to help keep top-tier talent at the struggling investment bank. We see one Citigroup Senior Fund Accountant report on Glassdoor.com that they are ‘underpaid’ and suggests that the company should “Hire more qualified managers and give pay based on performance.” Given that the company received $45 billion from the government, switching bonus dollars to base salary hardly seems like a good use of taxpayer money.

Citigroup salary reports on Glassdoor vary widely, with Executive Vice Presidents reporting a total compensation package of more than $500K. Anonymous reports for Managing Directors with the company note an average base salary of $210K with bonuses of up to $1 million.

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Reality Bites: Are Employees Disconnected from Market Realities?

Posted by • January 7th, 2009 • 1 Comment

It’s the first full week of 2009 and what’s on employees’ minds?  We were curious so we conducted a year-end survey with our friends at Harris Interactive to find out what employees are thinking about a variety of topics that affect our lives — layoffs, compensation, the future.  You can read our advisory with a summary of findings here, but we’ve added a bit more perspective below.  Overall, we were struck that there is an undercurrent of high employee confidence that runs counter to headlines and market realities of late. We’d love your opinions and thoughts on the findings.  Have people been living on an island? Or is it just a basic case of denial?

Little Concern about Layoffs

It’s hard to turn anywhere these days without hearing something about layoffs. Maybe you know someone who’s been laid off or maybe you know 10, but it feels like the effects are everywhere. In fact, we continue to see increases in the frequency reviews are coming in with the word “layoff.”   We did this original analysis in November.  Today the percentage of reviews with the word “lay off” is hovering around six percent.

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