Nineteen percent of UK employees are worried about being made redundant, a drop of ten percentage points in the past quarter. Confidence in finding another job is also slowly on the up – 31 percent of employees and those self-employed say they would be able to find a job matched to their experience and current compensation levels in the next six months, up two percentage points since the second quarter of 2014. In addition, those unemployed but looking for work are significantly more confident when it comes to finding a job – 41 percent of those unemployed but looking for work report optimism that they could find a job matched to their experience and most recent compensation level in the next six months, an increase of 11 percentage points since Q214.
This survey tracks employee sentiment every quarter and monitors four key indicators of employee confidence: salary expectations, job market optimism/re-hire probability, job security and business outlook optimism. It is conducted online by Harris Interactive, on behalf of Glassdoor among more than 2,000 people within Great Britain.
Twenty-three percent of men are worried about being made redundant compared to 15 percent of women. This is a surprisingly large gender gap, suggesting that men are feeling the pressure more, which could affect their performance in the workplace. Women are also more confident of finding a new job – see below.
In terms of regional UK differences, twenty nine percent of employees in London are concerned about being laid off, whereas in the South East and North East of England, just seven percent of employees are concerned. This significant difference could be reflective of the higher level of restructuring which may be taking place in the Capital.
Job Market Optimism
Interestingly, those unemployed but looking for work are significantly more confident this quarter when it comes to finding a job – 41 percent of those unemployed but looking for work report optimism that they could find a job matched to their experience and most recent compensation level in the next six months, an increase of 11 percentage points since Q214.
Of those employed/self-employed and unemployed but looking, women (33 percent) are slightly more confident when it comes to finding a job than men (30 percent).
When it comes to increases in income, thirty five percent of employees expect to receive a pay rise in the next 12 months, down two percentage points since Q214. Interestingly, 43 percent of men expect a pay rise, compared to just 26 percent of women.
The lowest paid employees – those in the social grade DE – are the most confident about receiving a pay rise (41 percent). The recent media focus on increasing minimum wage will no doubt have helped boost confidence amongst these employees.
Check out more from our Q3 2014 Glassdoor UK Employment Confidence Survey, including our survey supplement, which provides a detailed breakdown of results.
Glassdoor is excited to continue to publish the UK Employment Confidence Survey each quarter, helping job seekers, employees and employers monitor and track employee confidence in the UK and how it relates to business, jobs, companies, careers, hiring and more.