Employee Confidence In Pay Raises & Company Outlook Hits 4-Year High During The First Quarter 2012
How are you feeling about your chances of a pay raise in the next 12 months? Are you feeling more concerned lately about layoffs at your company? In the latest Glassdoor Employment Confidence Survey, conducted online on its behalf by Ipsos Media, Glassdoor takes a current pulse on how employees and job seekers are feeling – not only about their expectation for a pay raise, but other factors, too. The survey monitors four key indicators of employee confidence: salary expectations, job security, re-hire probability and company outlook. Highlights from this latest report are included below:
Optimism Around Company Outlook & Salary Increases
Employee optimism related to pay raises within 12 months, as well as overall company outlook continues to rise during the first quarter of 2012. In fact, for the first time in four years, more employees expect a pay raise than those who do not – 43% of employees expect a pay raise in the next 12 months, while 38% of employees do not, and 19% report they don’t know. A year ago (first quarter of 2011), employee optimism over pay raises was at one of its lowest levels in four years – with only 35% of employees optimistic of a pay increase within 12 months.
The optimism around pay increases may be tied to the fact that more employees believe their company’s outlook is improving. Nearly half (46%) of employees believe their company outlook will be better in the next six months, up six points from the prior quarter, reaching the highest level ever, since Glassdoor began conducting this survey in 2008.
In addition, men continue to be more optimstic than women when it comes to company outlook, but the gap has narrowed in the past year. In the first quarter of 2012, 48% of men felt their company’s outlook will improve within six months, compared to 45% of women. One year ago (the first quarter of 2011) 50% of men were optimistic that their company outlook would improve within six months, compared to just 28% of women.
Concern About Layoffs Edges Up, While Optimism Trips Over Job Market Prospects
While much of this latest survey is encouraging, at the same time, more employees are concerned about layoffs, not only for themselves, but also for co-workers. Nearly one in five (19%) are concerned they could be laid off in the next six months, up two points from the fourth quarter after declining the two preceding quarters. One-third of employees (33%) are also concerned co-workers could be laid off in the next six months, rising five points from the fourth quarter of 2011.
To add to rising layoff concerns, employees are growing less optimistic about their job prospects should they lose their current position. The survey shows that 37% of employees are confident in their ability to find a job matched to their experience and compensation levels, if they were to lose their current job, within six months. This figure has dropped to its lowest since the fourth quarter of 2010.
It’s also worth pointing out that more than one-third (36%) of those unemployed but looking for work say they believe it is likely they will find a job in six months, up six points from the fourth quarter of 2011, to its highest level since this survey began in 2008.
Interested in more insight into current employee and job seeker sentiment by age, location and gender? View the complete results for the Glassdoor Employment Confidence Survey.
Are you looking for jobs? Do you feel like it’s getting better or worse?