The economy has been a rough ride for just about everyone and so it may not be too surprising to hear that many are planning to head for ‘greener’ pastures in less than two years.
We just released the results of our latest Employment Confidence Survey and found 73 percent of employees expect to leave their job for a new employer in the future, 38 percent expect to leave their job in less than three years, 28 percent expect to do so in less than two years and 14 percent expect to do so in less than one year.
This may be driven by rising optimism around the job market. Among full-time, part-time and/or self-employed adults, 40 percent say they believe it is “likely” they could find a new job matched to their experience and compensation levels within six months if they lost their current job – the highest level in six quarters.
That optimism doesn’t necessarily carry through employee confidence in what’s happening within companies. While employee confidence in the job market rose in the first quarter, confidence in future job security, pay raises and company outlook remained relatively flat. And while reports of layoffs are down, 40 percent of employees say their employers made changes to the number of staff, organizational structure, compensation and benefits, or other perks in the past six months. In fact, rates of pay cuts, hiring freezes and job restructurings rose in Q1 from recent quarters.
During the height of the Great Recession, men were hit pretty hard by layoffs and the term “mancession” kept bubbling up online and in conversations. This may be reversing as men now have a lower unemployment rate at 7.8% than the overall national average of 8.9%, according to the Bureau of Labor Statistics. Plus, the Glassdoor survey shows that male employees have higher confidence about pay and their company outlook than their female counterparts. For example, 39% of men expect to receive a pay raise in the next six months compared to 30% of women – overall average was 35%. This sentiment gap carries through to company outlook with half (50%) of men expecting their company outlook in the next six months to improve compared to just slightly more than one-fourth (28%) of women.
Where you live may also impact your confidence in your job security. For example, while 17% of workers are concerned they could be laid off in the next six months, concerns are highest among those living in the Northeast (26 percent) and lowest among those in the South (11 percent). More employees (30%) report concerns their coworkers could be laid off yet these concerns are highest among employees in the West (40 percent) and Northeast (38 percent), compared to the Midwest (29 percent) and South (18 percent).
Are you planning to leave your current job in the next year or two? What are your expectations around pay raises? Have concerns about layoffs dimisnished?
Interested in more insights into current employee and job seeker sentiment by age, location and gender? See the complete results for the Glassdoor.com Employment Confidence Survey.