GLASSDOOR SURVEY REVEALS EMPLOYEE CONFIDENCE PERKS UP, WHILE ONE IN THREE BELIEVE BENEFITS BETTER ELSEWHERE
Medical Coverage Tops Most Valued Benefit for Employees, Outside of Salary & Compensation; One in Five Say Office Perks Important Benefit
SAUSALITO, Calif. – (July 3, 2013) – One in three (31 percent) employees¹ report they do not believe their benefits are better than those offered at competitor companies. This comes as employees report greater confidence in the job market, as more than two in five (43 percent) employees (including those self-employed) believe they could find a job in the next six months that matches their experience and current compensation levels, a high since the third quarter of 2009.
The findings come as part of Glassdoor’s Q2 2013 Employment Confidence Survey², conducted by Harris Interactive, which evaluates four key indicators of employee confidence: job market optimism/re-hire probability, job security, salary expectations, and business outlook. The second quarter survey also reveals several of the most valued workplace benefits for employees, and how informed they feel about the Affordable Care Act (known as “Obamacare”).
When asked what benefits are the most important to employees, aside from salary and compensation, three in four (76 percent) employees report medical plan/coverage. In addition, prior to the U.S. government’s decision to postpone the employer mandate, a key provision of the Affordable Care Act, until 2015, only 30 percent of employees reported their company had done a good job explaining how the health care law could affect their benefits.
Other top benefits for employees include: holidays/vacation/sick time (72 percent), 401(k)/retirement/pension (62 percent), dental plan/coverage (60 percent), employee development/training (27 percent), wellness programs e.g., health screening programs, exercise/physical fitness programs, or health insurance education (26 percent), employee discounts e.g., commuter subsidies, gym membership discount, discounts on company products/services (26 percent), tuition reimbursement (23 percent), and office perks e.g., free food and drink, casual dress, or a pet friendly office (21 percent).
News of job market confidence comes as employees report increased pessimism about their current employment situation. One in five (22 percent) employees are concerned they could be laid off in the next six months, up three percentage points since last quarter and a high since the second quarter of 2011. In addition, two in five (42 percent) employees (including those self-employed) also believe their company’s business outlook will perform better in the next six months, down three percentage points since last quarter. Forty percent of employees also report that they expect a pay raise or cost-of-living increase in the next 12 months, which remains relatively flat since last quarter.
“In today’s environment of greater workplace transparency – combined with employees’ growing sense of confidence about the state of the job market – job seekers will be looking for companies that communicate clearly about the future of the business, the path for career advancement, and their benefit needs,” said Rusty Rueff, Glassdoor career and workplace expert, who ran global HR departments at Electronic Arts and PepsiCo before co-authoring Talent Force: A New Manifesto for the Human Side of Business. “We are living in a new normal in this post-recession era in which employees and job seekers no longer hope to get better information about career opportunities, they rightfully expect it to be available.”
SURVEY SUPPLEMENT &IMAGES AVAILABLE: For more details including breakouts of survey results by age, gender and income level, please see the full Q2 2013 Glassdoor Employment Confidence Survey Supplement: http://www.glassdoor.com/press/surveys. Graphics highlighting quarter-by-quarter survey results are also available. To request the survey supplement, images and/or complete survey methodology, please contact pr [at] Glassdoor [dot] com.
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¹For the purposes of this study “employees” were defined as U.S. adults 18+ employed full time and/or part time unless otherwise indicated.
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